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What are the biggest problems in IoT? Where do current market IoT solutions fall short? How should IoT be considered? 
Put another way, “What are the most common issues preventing companies from fully realizing the benefits of IoT?” This question was answered at DZone by 23 executives involved with the Internet of Things.
Most important observations:
The IoT industry, across numerous market verticals, is at an impasse where customers are demanding increasing sophistication at lower prices. Given the complexity and importance of IoT, no single company can or should be dictating the path forward for the entire industry.
The only viable path forward is collaboration between companies and market verticals to collaborate on developing, testing and standardizing the non-differentiating functionality. The Open Connectivity Foundation is currently working to achieve that, however the device-cloud communication represents a unique challenge for the engineers involved because there has never been a historical need for engineers to become knowledgeable in both embedded systems and cloud native application development. The proposed solution to this problem is to emulate the container runtime interface (CRI) architecture and embody Conway’s law to establish a loose coupling between the “IoT code” (CoAP/iotivity cloud interface) and the portions of the system that are much more familiar to the cloud developers (ex: db/messaging/auth) which will also vary more depending on the use case.
<WRAP center round info 60%> “Throughout our history, it has always been standardization of components that has enabled creations of greater complexity” –Simon Wardley </WRAP>
<WRAP center round info 60%> The Internet of Things (IoT) is the network of physical devices, which are embedded with electronics, software, sensors, actuators, and connectivity for the purpose of enabling these things to connect and exchange data. Thus creating opportunities for more direct integration of the physical world into computer-based systems, resulting in efficiency improvements, economic benefits and reduced human intervention. (Wikipedia, Internet of Things) </WRAP>
In other words, an IoT device is regularly subject to change, since it represents the world around itUnderlined Text. It's up to the developer, how the world is represented through the device and processed by the application for your specific domain. Technology should support the transfer of data in a standardized and secured way. The IoT platform can't limit you and can't set boundaries, which would limit evolution of your system.
Domain is a sphere of knowledge, influence or activity.
IoT itself is most likely not a domain of your business, it is a group of technology achievements from the last decades of the 20th century, which open the door to new possibilities for your business domain. Allowing for the modelling of the external world specific to your needs, in the form of resources and events, which will be transferred in a secure and traceable manner to your application, located off-premise or even on-premise. The goal is for developers to focus primarily on the domain of their business.