Open standards used to deploy Internet of Things (IoT) technology could cut costs by 30% and accelerate the growth of smart cities, according to a new research report.
Machina Research estimated that cities around the world deploying smart tech for traffic and water control and other systems could spend $1.12 trillion by 2025 with currently-available technology, much of it proprietary. With widespread use of open wireless standards like Bluetooth Low Energy and OneM2M, those costs could be reduced by $341 billion, down to $781 billion.
