The definition of the Internet of things has evolved due to the convergence of multiple technologies, real-time analytics , machine learning , commodity sensors , and embedded systems. In the consumer market, IoT technology is most synonymous with products pertaining to the concept of the " smart home ", including devices and appliances such as lighting fixtures, thermostats , home security systems and cameras, and other home appliances that support one or more common ecosystems, and can be controlled via devices associated with that ecosystem, such as smartphones and smart speakers. There are a number of serious concerns about dangers in the growth of IoT, especially in the areas of privacy and security , and consequently industry and governmental moves to address these concerns have begun including the development of international standards. The main concept of a network of smart devices was discussed as early as , with a modified Coca-Cola vending machine at Carnegie Mellon University becoming the first Internet-connected appliance,  able to report its inventory and whether newly loaded drinks were cold or not. The field gained momentum when Bill Joy envisioned device-to-device communication as a part of his "Six Webs" framework, presented at the World Economic Forum at Davos in The extensive set of applications for IoT devices  is often divided into consumer, commercial, industrial, and infrastructure spaces. A growing portion of IoT devices are created for consumer use, including connected vehicles, home automation , wearable technology , connected health, and appliances with remote monitoring capabilities.
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IoT platforms typically handle ongoing management tasks and data visualization, which allow users to automate their environment. You can think of these platforms as the middleman between the data collected at the edge and the user-facing SaaS or mobile application. Generally, an IoT or M2M solution is a mashup of functions from multiple vendors, which include:. These solutions can collectively be referred to as the value chain of IoT. The Internet of Things is an inherently complex networking environment, and thus, the need to automate data tasks at scale has thrust a number of IoT platform players into the market. The kind of platform a company needs is a more difficult question to answer, because it depends on several factors. These factors include whether specific hardware , protocols, real-time access, custom reports, and more are needed.
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