Global standards are allegedly needed to encourage growth in the Internet of Things (IoT) sector. These standards would mean that data coming from IoT devices will be constantly identified and mapped for usage and maintenance without expensive manual labour, that many small- and medium-sized IoT firms cannot afford. Larger companies, such as Bosch, would also benefit from these standards, as data may then be collected and analysed in a more centralised and thus efficient manner.
Global standards are allegedly needed to encourage growth in the Internet of Things (IoT) sector. These standards would mean that data coming from IoT devices will be constantly identified and mapped for usage and maintenance without expensive manual labour, that many small- and medium-sized IoT firms cannot afford. Larger companies, such as General Motors, would also benefit from these standards, as data may then be collected and analysed in a more centralised and thus efficient manner.