Internet of Things (IoT) market forecasts show that IoT is already making an impact on the global economy. While estimates of the economic impact during the next five to ten years vary slightly (IDC estimates US$1.7 trillion in 2020, Gartner sees a benefit of US$2 trillion by that time, and McKinsey predicts growth of US$4 trillion to USD 11 trillion by 2025), there seems to be a consensus that the impact of IoT technologies is substantial and growing.
This International Electrotechnical Commission (IEC) White Paper provides an outlook on what the next big step in IoT – the development of smart and secure IoT platforms – could involve. These platforms offer significant improvements in capabilities in the field of security and bridge the gaps between different existing IoT platforms, which usually consist of “legacy” systems that have not been designed for IoT purposes.
IEC concludes by formulating recommendations both of a general nature as well as specifically addressed to the IEC and its committees. The principal recommendations proposed for the IEC include:
- Taking the lead in establishing an IoT standardization ecosystem environment with IEC exercising a key role.
- Assigning tasks to the ISO/IEC JTC 1 leadership concerning key IoT standardization activities.
- Working more closely with government entities to increase their level of participation and to identify the related requirements and concerns to be addressed by IEC deliverables.
Download the whitepaper here.