Even though the IoT Platform is providing ease and efficiency in our day to day usage of ‘Things’ but for it to transform itself into a viable solution may take another 10+ years.
A simple example here is, CFL bulbs have been replaced by the LED bulbs. But the moment it became a connected IoT device it became highly unviable. Now that it has become a connected device, it needs a hub, a communicating media, a powered device, a security infrastructure, etc.…
Why would a consumer want to switch over his simple bulb to a high-end smart solution? When the simple solution is to power on the device using simple switch!
Since all the IoT devices have to be connected devices, the pathways have to be clearly written in the form of an individual code. This would be similar to getting back to the drawing board or just like how Las Vegas was fifty years ago. It is like designing an economically viable flying car but who and how would one define the pathways and where would one land finally?
Another key factor in the IoT Platform is the security layer for all the IoT devices. To write the security protocols would mean creating independent security agencies for governing an entire city.
While the money invested in creating such an IoT infrastructure is running into billions of dollars without any hope of ROI for the next decade or two. It is like creating a high-end battery operated cars while every other car manufacturer is creating a petrol or a diesel powered cars.
Addressing these four basic issues before getting into the industry would provide one with the common-sensical approach of building an end-to-end IoT solutions.
