There are entire classes of products being invented, revamped, repositioned to join the connected revolution.
In generalized terms, one could, perhaps, classify the different products and offerings in these broad categories
a) connected devices
b) Core Software/OS on connected devices
c) Library / Application Software on connected devices
d) Software for command, control, configuration of connected devices
e) Data collection system for connected devices
f) Analytics of data from connected devices
g) Infrastructure for centralized/cloud based deployment of software
Out of all these categories, beside a) and g) all categories concern software.
Out of all the software, I would contend that d) is the lynchpin that ties all of the IoT world together. That’s where peripheral but necessary components like event systems, machine identities, security and encryption, access management, communication protocols etc all come together.. In a sense, it’s the core of the IoT platform.
Any company or organization that makes headway in creating the core platform, that exhibits behaviors that allow ease of use, low cost to entry, ease of programming, extensible etc will be the winner. There are none such platforms today that exhibit all of the behaviors.