A new study from Frost & Sullivan has found that several standardisation bodies from Europe and the United States are working towards addressing the issue of device interoperability and standard privacy policies.
Both sides of the Atlantic were understood to be striving to simplify the seamless flow of information among devices worldwide.
The separate committee formed by the European Telecommunications Standard Institute (ETSI) to focus on Machine2Machine (M2M) communication privacy standardization was used as an example of inefficiency.
Similarly, the Open Automotive Alliance (a global alliance of automobile companies and technology partners) is working to establish a standard Android platform for communication between mobiles and vehicles.
Another solution to accelerate the wide-scale adoption of several applications and technologies in the IoT space is an unified gateway.
Swapnadeep Nayak, Technical Insights Industry Analyst, said: "Gateways that are developed covering all aspects of communication and data handling for various applications could simplify the implementation process for IoT.
"Gateways embedded with Java – often used for cloud application development – could further enhance the capability of the platform in terms of interoperability."
The rapid progress made in the miniaturisation of sensors and radio frequency identification (RFID) will aid the integration of transistors into any kind of physical object, irrespective of the footprint of the device.
Users can also boost privacy and network security by incorporating smart sensors to track consumer habits and movement within the cloud.
As IoT requires an open architecture, users tend to be sceptical about the platforms’ ability to maintain the integrity of their data.
Leveraging the advantages of converged technology will improve the analysis of user data and access rights for the creation of a secure environment for IoT.
"The huge pressure on the network for connectivity with multiple devices could lead to a new artificial intelligent cognitive architecture for managing data network.
"Therefore, the success of IoT could well be linked to the efficiency of the cognitive radio network architecture," Mr Nayak added.
Overall, by employing a common cloud infrastructure with an unified application programming interface for all application sectors, IoT can bring down the costs of deployment while enhancing the efficiency of devices with data from countless gadgets.