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Guides IoT Index Decreasing Cost of IoT Sensors: Will it accelerate the IoT adoption?

Decreasing Cost of IoT Sensors: Will it accelerate the IoT adoption?

Published on 05/10/2016 | IoT Index

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Tin Phan

Accelerating the Adoption of Industrial Internet of Things.


As Chaos theory focuses on the initial condition of every event meaning that their future behavior is fully determined by their initial conditions, the IOT scenario is also currently at an initial juncture where we have an opportunity to control the situation before it goes out of hand.

There are numerous standards being followed currently in the IoT space to connect various devices but no single global framework is followed. Like the TCP for internet or the IPV4/6 for connectivity which has become the global standard.

Even though historically many technological standards have been standardized to a global standard, the IoT world is in a state of chaos and is actually diverging into many individual standard formats than converging into one. Think of the data that were recorded in the cassette tapes and VCR system. Their formats are not compatible in today’s data format and hence obsolete.

Standardization will in turn save enormous amount of time and cost. One of the major changes in this space has been triggered due to the declining cost of sensors and cloud storage.

In the world of standardization in IOT, there are many wicked problems. To make people accountable and fix the issues, one standard is imperative. The major challenge is changing requirements as innovation are taking place every day and devices being connected are increasing every day in the IOT space hence difficult to track.

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