Market Confidence

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Market Confidence

The market lacks confidence with respect to the Internet of Things in particular factors such as fear of loss of privacy, interoperability issues and vendor lock-in hinder market uptake. It is these factors that prevent the creation of a critical mass market that fosters the emergence of truly horizontal solutions and counters market fragmentation.

The objective of this WG is to collectively provide the conditions for developing the market confidence, by developing processes that members must fulfill and which

  • Ensure interoperability by proving conformity to a set of essential features
  • Avoid vendor lock-in by proving openness as conforming to some member defined criteria
  • Ensure privacy, societal value and ethics by member acceptance to IoT Forum criteria
  • Providing a market-confidence label

Should the IoT forum members apply with solutions, which fulfill the criteria defined and published by the forum, a label will be given. The name of the label (e.g. SmartIoT) will be defined by the working group.

It is expected that promoting such label will increase the market confidence in IoT solutions with the following values brought by an IoT forum label:

  • confidence in the product
  • maximum guarantee of global interoperability, market accepted security and privacy
  • promotion and conformance of key standards or specifications by multiple companies
  • promotion of flexible but defined platforms for ongoing innovations
  • ensure open and fair competition
  • confidentiality
  • low cost and one stop testing
  • global market penetration
  • confidence to vendors
  • lowering costs
  • increase awareness which creates demand, growth and innovation
  • increase global market penetration

Expected Impacts

The working group will organise discussion in order to publish

  • Criteria and specifications ensuring the various categories of confidence (i.e. interoperability, openness, security, privacy, societal and ethics)
  • Label Process to prove conformity to criteria
  • Label issuing and publication process
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