The Internet of Things (IoT) is a rapidly evolving technology sector. As the popularity of connected devices increases with consumers, the number of entrants into the market grows. But rapid growth and iteration have had some unintended consequences in the IoT space, especially when it comes to usability.
Talk to anyone in the IoT space, and the conversation inevitably turns to the platform on which devices operate. It makes good sense: Devices with the potential to connect can do very little without software applications that make them usable. Unfortunately, there's been little development toward platforms that help devices with varied functions work together.
Nassar explains why: “In situations in which standardized applications do not exist, companies need an IoT application platform that is agile and can offer carrier-class, enterprise-level solutions that they are used to.”
Despite the challenges involved with developing new technology, the IoT community has been successful at forming strategic partnerships to help leverage one another’s strengths and advance solutions more quickly. That spirit of partnership is on the rise as more businesses consider IoT a critical component of success. By bridging technologies that otherwise would not work together, IoT providers model the kind of partnership that's needed to drive greater adoption.
The private space industry has benefited greatly from similar collaborations. Companies such as Boeing, Lockheed, Orbital ATK and SpaceX share knowledge and other resources to help reach common goals. The pace of innovation in the IoT sector will increase rapidly in coming years if market leaders work together in a similar fashion.
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"As demand for IoT technologies grows, entrepreneurs considering IoT solutions should look for ones that might help them achieve a competitive advantage,” Nassar says. “They should also assess their own competencies when rolling out IoT devices and find partners who help fill in the gaps in experience to prevent any bottlenecks or project delays.”