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The IoT: Next Up, A Battle Over Standards

Posted by David Brousell on July 15, 2014

Networking.jpgThe high tech industry is at it again.

It seems that whenever a market trend occurs that holds the potential of significant growth, would-be players rush to try to define and establish “standards” that will enable the trend to flourish, and, in the process, enable the players to benefit too.

But the great thing about standards, a wizened critic once said, is that there are so many of them.

Today, the latest trend undergoing a standards frenzy is the so-called Internet of Things (IoT), envisioned as a network of smart, connected products, systems, and various physical objects that produces and exchanges data about those things. Proponents are so excited about the projected economic value of IoT they can hardly contain themselves. One of the most oft-cited projections is from a recent McKinsey report which says the IoT has the potential to create as much as $6.2 trillion in economic value by 2025.

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