Benefits of Standardization

Benefits of Standardization

Standardization is an essential requirement for the open exchange of information; without it, the network simply will not work, however, standardization could also impede rather than accelerate progress to avoid this: standards must be produced at a speed that is consistent with market demand and standards must consider all interested parties, or they will not be widely acceptable.

Some benefits that can be linked to standardization are listed below:

enables interoperability
encourages innovation, fosters enterprise and opens up new markets
creates trust and confidence in products
expands the market, brings down costs and increases competition
helps prevent the duplication of effort