The concept of Design-lite services exist for many years and used by the the major companies in the US.
One vendor that explains this model in a nice video is OpenSilicon CEO: http://www.youtube.com/watch?v=aEDZV_yoAFg
What are the engineering and design challenges in creating successful IoT devices? These devices are usually small, resource-constrained electronics designed to sense, collect, send, and/or interpret data. Some of the devices need to be smart enough to act upon data in real time, 24/7. Specifically the guests will discuss sensors, security, and lessons from IoT deployments.