Why do we need standards?
No need to reinvent the wheel
Standards also help companies to innovate within reasonable technical boundaries. They don’t have to reinvent the wheel because all the basic stuff has already been thought through. This ensures that new products will plug in and work with what’s already in the market place.
That’s why you can buy a Korean TV and it will work in your home, whether you live in the USA, Europe or anywhere else in the world.