The Internet of Things as Driver for Digital Business Model Innovation

2018 ◽  
pp. 27-55 ◽  
Author(s):  
Mirko Presser ◽  
Qi Zhang ◽  
Anja Bechmann ◽  
Michail J. Beliatis
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Model Innovation ◽  
The Internet ◽  
The Internet Of Things

The future of the Internet of Things: toward heterarchical ecosystems and service business models

2018 ◽  
Vol 33 (6) ◽  
pp. 749-767 ◽  
Author(s):  
Seppo Leminen ◽  
Mervi Rajahonka ◽  
Mika Westerlund ◽  
Robert Wendelin
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Value Chain ◽  
Large Scale ◽  
Business Models ◽  
The Internet ◽  
Content Type ◽  
Industry Collaboration ◽  
New Business ◽  
The Internet Of Things

Purpose This study aims to understand their emergence and types of business models in the Internet of Things (IoT) ecosystems. Design/methodology/approach The paper builds upon a systematic literature review of IoT ecosystems and business models to construct a conceptual framework on IoT business models, and uses qualitative research methods to analyze seven industry cases. Findings The study identifies four types of IoT business models: value chain efficiency, industry collaboration, horizontal market and platform. Moreover, it discusses three evolutionary paths of new business model emergence: opening up the ecosystem for industry collaboration, replicating the solution in multiple services and return to closed ecosystem as technology matures. Research limitations/implications Identifying business models in rapidly evolving fields such as the IoT based on a small number of case studies may result in biased findings compared to large-scale surveys and globally distributed samples. However, it provides more thorough interpretations. Practical implications The study provides a framework for analyzing the types and emergence of IoT business models, and forwards the concept of “value design” as an ecosystem business model. Originality/value This paper identifies four archetypical IoT business models based on a novel framework that is independent of any specific industry, and argues that IoT business models follow an evolutionary path from closed to open, and reversely to closed ecosystems, and the value created in the networks of organizations and things will be shareable value rather than exchange value.

Applications of Cloud-Based Internet of Things

2021 ◽  
pp. 65-84
Author(s):  
Nipun R. Navadia ◽  
Gurleen Kaur ◽  
Harshit Bhardwaj ◽  
Taranjeet Singh ◽  
Aditi Sakalle ◽  
...  
Keyword(s):  
Cloud Computing ◽  
Internet Of Things ◽  
Business Model ◽  
Data Driven ◽  
The Internet ◽  
Cloud Infrastructure ◽  
Business Decisions ◽  
Goods And Services ◽  
Cloud Network ◽  
The Internet Of Things

Cloud storage is a great way for companies to fulfill more of their data-driven needs and excellent technology that allows the company to evolve and grow at a faster pace, accelerating growth and providing a flexible forum for developers to build useful apps for better devices to be developed over the internet. The integration of cloud computing and the internet of things creates a scalable, maintainable, end-to-end internet of things solution on the cloud network. By applying the infrastructure to the real universe, it generates sources of insight. Cloud computing and IoT are separate technology but are closely associated and are termed as ‘cloud-based IoT' as IoT has the ability to create intelligent goods and services, gather data that can affect business decisions and probably change the business model to boost success and expansion, and cloud infrastructure can be at the heart of all IoT has to deliver.

A Business Model Framework for Crowd-Driven IoT Ecosystems

2019 ◽  
pp. 440-461
Author(s):  
Xenia Ziouvelou ◽  
Frank McGroarty
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Wearable Devices ◽  
The Internet ◽  
Model Framework ◽  
Research Attention ◽  
Business Modelling ◽  
Emerging Ecosystems ◽  
The Internet Of Things

This article describes how the era of hyper-connectivity is characterized by distributed, crowd-centric ecosystems that utilise cutting edge technology so as to harness the collective power, co-creation ability and intelligence of the crowd utilising under open participatory value creation models. The Internet of Things (IoT) has fueled the emergence of such ecosystems that leverage not only the power of physical things connected to the Internet but also the wisdom of the crowd to observe, measure, and make sense of phenomena via user-owned mobile and wearable devices. Existing business modelling literature has to date, placed no research attention on business models for such emerging ecosystems. This article aims to fill this gap by examining the dynamics of crowd-driven IoT ecosystems and introducing a business model framework for such environments, encompassing all relevant value-creating actors, activities and processes, facilitating this way a holistic ecosystem business model analysis.

Creating a Research Laboratory on Big Data and Internet of Things for the Study and Development of Digital Transformation

2019 ◽  
pp. 339-358 ◽  
Author(s):  
Vardan Mkrttchian ◽  
Leyla Gamidullaeva ◽  
Svetlana Panasenko ◽  
Arman Sargsyan
Keyword(s):  
Big Data ◽  
Internet Of Things ◽  
Business Model ◽  
Research Laboratory ◽  
Business Models ◽  
Digital Transformation ◽  
The Internet ◽  
Technology Platform ◽  
The Cost ◽  
The Internet Of Things

This chapter discusses the problems associated with the design of the business model in the new context of big data and the internet of things to create a research laboratory for studying and improving digital transformations. The development of business prospects for IOT is due to two main trends: 1) the change of focus from IOT viewing primarily as a technology platform for viewing it as a business ecosystem and 2) the transition from focusing on the business model in general to the development of business models of ecosystems. In the chapter, the business model of the ecosystem is considered as a model consisting of signs fixed in ecosystems and focuses on creating the cost of the laboratory and fixing the value of the ecosystem in which the created laboratory operates.

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