IoT is transforming enterprise software by enhancing operational efficiency and reducing costs. The enterprise IoT market is projected to grow at a compound annual growth rate (CAGR) of 13% from 2023 to 2033, potentially exceeding $2021.19 billion. This growth is driven by increased automation across industries, the rise of smart homes and cities, and the integration of big data analytics, AI, and machine learning.

Key software development practices for IoT include implementing programmable infrastructure as code for automation, adopting agile methodologies to manage projects effectively, ensuring scalability to meet future demands, and prioritizing data protection through robust cybersecurity measures. These practices help create a flexible and secure environment for IoT applications.

IoT applications have significant potential across various industries. In healthcare, IoT devices can monitor patient health through wearables, improving treatment outcomes. In manufacturing, IoT solutions enhance supply chain logistics and predictive analytics. Other sectors, such as retail, benefit from smart devices that improve security and operational efficiency, showcasing the broad applicability of IoT technology.