This was a talk I delivered at IoT Europe 2014
The market isn't slow, you are – the number of devices being attached to the internet is increasing sharply: from 80 things per second last year to an expected 100 things per second this year. Early movers like NEST are being consolidated, while there are hundreds of new entrants into the marketplace. Despite the lack of horizontal "grand unification" standards there are successful vertical platforms. In consumer home there are NEST, Withings, Belkin, Quirky, etc. – plus many distinct offerings in commercial/industrial
Interrogate the market by shipping – with sharp development cost decreases, it's never been easier to engage in ever smarter, ever more emergent business models. Certainly, greater values will be unlocked by standards and ubiquitous interoperability, but there is plenty of value to unlock in bringing greater efficiency or greater utility to your customers now. Most importantly, it's about building organizational muscle to be able to address the market as it continues to heat up (connected devices are not going away!) – and not wait to play a game of catch up. The only fatal mistake is inaction
How to start – build a lean product practice, emphasize doing over debating. Test, learn, iterate, and scale. Build remote upgrade-ability into products and create simple platform APIs to encourage unexpected combinations and partnerships. Use success to inform standards, not the other way around.