Could The IoT End Up Like Betamax?

We have all seen the numbers related to the Internet of Things (IoT). 50 billion devices will be connected by 2020 with $19 trillion of business opportunity. It’s a big deal.  But, there is a hidden side to the numbers that a new feature in Forbes magazine has explored. Ten different industry groups are trying to define standards and frameworks for the IoT. Six companies that employ 780,000 people, and have net annual sales of $428 billion, are almost entirely controlling the entire industry.  Forbes suggests that it’s like a giant casino. Each of these big technology companies is