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THE DEVELOPMENT OF OPEN IoT PLATFORMS AND STANDARDS GUARANTEE INTEROPERABILITY AND
FACILITATE ACCESS TO THE ECOSYSTEM MULTIPLYING BUSINESS OPPORTUNITIES
As underlined by the “Digitising European Industry” communication, if European
companies can achieve leadership in IoT platforms, this will stimulate the Expected benefits
development of open ecosystems where SMEs, researchers, entrepreneurs
and innovators can develop multiple IoT-based services and applications,
improving the competitiveness of the European industry. Open platforms can
more easily achieve critical mass, allowing platform owners to encourage
third party developers, suppliers and users, as well as competitors while also
preserving the role of leading European stakeholders in key markets.
IoT Interoperability adds Value
Open platforms ensure interoperability among IoT systems, which is required
to capture 40 percent of the potential economic benefits – in the factory and
production environment up to 60 percent of the potential value requires the
ability to integrate and analyse data from various IoT systems (source McKinsey).
Few, consolidated and shared standards remove uncertainty
Too many standards can be worse than none, creating complexity, uncertainty
about relevance and access rights for potential innovators, time-consuming
interactions between multiple technical communities, and a risk of irrelevance
in global markets. For example, in 2016 when the EU IoT Programme started
there were more than 600 IoT standards in Europe.
The IoT LSP Programme is helping the IoT research community navigate the
technology environment, identify priorities and gaps, and define increasingly
important reference architectures.

