Breaking down IoT silos: the move toward data exchange platforms (DEPs)
The story of the IoT has, to date, revolved around individual organizations creating full-stack IoT applications operating in silos. These can loosely be thought of as smaller "Intranets of things" rather than a full-scale Internet of Things. However, we are now beginning to see the use of data exchange platforms (DEPs), which allow data to be shared across the silos seen in today's IoT landscape.
The move toward DEPs will begin slowly at first, but there will be an inflection point, perhaps in 10-15 years, in which the benefits of IoT will not simply belong to those who deploy IoT devices. Instead, thanks to DEPs, IoT benefits will be shared by both device manufacturers and the third parties who are able to leverage data generated by those connected IoT devices.
Consider the use case of smart cities. IHS Markit tracks over 1,000 smart city projects worldwide, and the impact of DEPs could be tremendous in enabling data to be shared among device makers, city officials, first responders, transportation officials, and other third parties that could improve business operations with access to data. In short, once IoT silos begin to break down, the benefits of the IoT will be spread across many, rather than only to a few.
Liz Cruz is the associate director of IoT and smart cities at IHS Markit
Posted 25 June 2019
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