A recent announcement that Amazon, Apple, Google, and the Zigbee Alliance are working on an open-source network standard is likely to lead to even more investment in connected devices among retailers. The open-source network that the group is working to develop is supposed to make life easier for IoT hardware vendors and software developers, but it also serves a secondary purpose of assuring retailers investing in connected technology that their budgets aren’t being wasted. With a common IoT communication and control standard, smart devices will be even more reliable and seamless to use in the coming years.
“Open source will bring businesses more agility and enable them to process data quickly while simultaneously producing valuable insights,” says Heikki Nousiainen, chief technology officer at Aiven, a firm that develops managed cloud service hosting for software infrastructure services.
The devices around us are getting smarter. From the consumer’s perspective, that means refrigerators are sending notifications when the milk is running low, and thermostats are turning down the temperature when there’s no movement in the house. Businesses are relying on the data generated by connected devices to improve algorithms and make their existing products even smarter, but collecting and managing large volumes of data is creating a new set of challenges.
Globally, the IoT market is expected to reach $212 billion by the end of this year. With the worldwide number of IoT-connected devices projected to top 43 billion by 2023, the challenges associated with managing large amounts of data in real-time are growing at a rapid pace.