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I worked for one of the largest device manufacturers for a certain kind of sensor.

The requirements/standards for this sensor was made by this company 20 years ago. All the tests and requirements were made by this same company in a way that would minimize the costs for us to keep making new revision we could sell, and make it the hardest for any competitor to enter the market. Another competitor started with a better product abroad, so we copied it, but it didn't pass the tests, so then they installed an owner of the certification house that was a cousin of one of the VPs. No problems passing tests after that.

You think this is all controlled and nice and standardized but it's all just a market from software to hardware.

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While quite believable, there is a diversity of industries and standard adherence / enforcement no?

Markets also range from under regulated to over regulated, and are usually in a transition from one end to another (while contending with other forces).

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