Recently, Machina Research brings news that competition in the IoT market leads to waste for those funding IoT development. It's dangerous to frame competition vaguely as waste instead of incentive. IoT companies want that funding and will develop rapidly to gain it. From the article:
The world of IoT is currently characterized by competing technologies and platforms, further complicated by numerous standards development organizations, and this fragmentation is causing a delay in the widespread adoption of IoT.... We can’t hope to realize any smart city ambitions until all stakeholders can agree on a common set of IoT standards.
In terms of IoT security, I definitely agree with standardization. However, when considering IoT adoption and deployment, there are a few problems with trying to standardize now — the field is still too new:
- Standardization would hinder development at this point in the field. IoT is still a new and exciting space. Diverting effort away from development and towards standardization would negatively impact the young industry.
- Industry standards best come from industry experts. Most people would probably agree the USB connector is a great standard and has made connecting things easier than it was years prior. This is because it was designed by a group of industry experts from seven different companies in a mature space who needed a common solution.
- Opportunity and competition to become an expert drives the IoT industry at this point. The incentive and freedom to become an industry leader will have a greater impact on long-term IoT adoption and deployment. At this time, we’re all benefiting from IoT companies having the freedom to develop.
Your favorite technology/product/service was the result of a companies competing for your business. IoT is no different.