It is certainly true that competition has done quite a bit in regards to helping consumers get their hands on the most advanced technologies that are available, and its power in the technology market certainly should not be ignored. However, there is another force in technology at work that can also be utilized in order to bring about even more innovative products than we have ever seen before. This force is collaboration, and to find out more, I would definitely suggest checking out this article.
In the age of the internet, more and more information has been made available to more and more people, and the sharing of this information is something that ought to be encouraged if we want innovation to increase exponentially. While companies and individuals seek to keep their innovative ideas completely hidden from the public eye until they come to fruition, the sharing of these innovative ideas with other innovators could likely lead to even more useful technologies than innovation by an individual could ever provide. For instance, if I have an idea that I am working on developing into a product, and another innovator has a similar idea, our collaboration together would likely lead us into developing a product that is far better than any either of us would have come up with on our own. Such partnerships have existed throughout technological advancement, but it appears as if they will expand and become more pronounced as more and more people get involved in the Internet of Things.
No one would ever argue that competition is not an important market force, but for innovation to reach its peak, ideas and information will likely need to be shared freely among different parties if they wish to create something that is truly innovative.