Business Models for the Internet of Things

2011 ◽  
pp. 253-277 ◽  
Author(s):  
Eva Bucherer ◽  
Dieter Uckelmann
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
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.

scholarly journals Designing Business Models for the Internet of Things

2014 ◽  
Vol 4 (7) ◽  
pp. 5-14 ◽  
Author(s):  
Mika Westerlund ◽  
Seppo Leminen ◽  
Mervi Rajahonka
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
The Internet ◽  
The Internet Of Things

scholarly journals Network-centric business models for health, social care and wellbeing solutions in the internet of things

2018 ◽  
Vol 34 (2) ◽  
pp. 103-116 ◽  
Author(s):  
Andres Laya ◽  
Jan Markendahl ◽  
Stefan Lundberg
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
Social Care ◽  
The Internet ◽  
The Internet Of Things

Capabilities for the internet of things enabled product-service system business models

2021 ◽  
pp. 1-17
Author(s):  
Elina Karttunen ◽  
Mikko Pynnönen ◽  
Luke Treves ◽  
Jukka Hallikas
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
Service System ◽  
The Internet ◽  
Product Service System ◽  
Product Service ◽  
The Internet Of Things

scholarly journals Actors in the Emerging Internet of Things Ecosystems

2017 ◽  
Vol 9 (1) ◽  
pp. 57-75 ◽  
Author(s):  
Seppo Leminen ◽  
Mervi Rajahonka ◽  
Mika Westerlund
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
Peer To Peer ◽  
The Internet ◽  
Role Behavior ◽  
Analyse Data ◽  
The Internet Of Things

This study investigates actors in the ecosystems of the Internet of Things (IoT). Previous research suggests that unstructured ecosystems make one of the greatest challenges for creating business models for the IoT. The present study concludes four contributions. First, the study reviews literature to develop a framework for role mechanisms in ecosystems and applies the framework to analyse data from fifteen interviews in six cases. Second, it identifies four diverse actor roles in IoT ecosystems: butterfly, ant and greenfly, spider, and the swarm of bees. Third, the study shows how actors take and make different roles in four emerging IoT ecosystems; product-, company-, industry-, and peer to peer ecosystems, which are structured in accordance with the identified actors' role behavior. Fourth, it suggests a new role pattern, role replication, where companies replicate their value designs and networks to other contexts.

scholarly journals The Digital Universe

2020 ◽  
Vol 2 (3) ◽  
pp. 9
Author(s):  
Matt Zwolenski ◽  
Lee Weatherill
Keyword(s):  
Sensor Networks ◽  
Information Security ◽  
Internet Of Things ◽  
Data Protection ◽  
Business Models ◽  
Unstructured Data ◽  
The Internet ◽  
Next Generation ◽  
The Internet Of Things ◽  
The Way

The Digital Universe, which consists of all the data created by PC, Sensor Networks, GPS/WiFi Location, Web Metadata, Web-Sourced Biographical Data, Mobile, Smart-Connected Devices and Next-Generation Applications (to name but a few) is altering the way we consume and measure IT and disrupting proven business models. Unprecedented and exponential data growth is presenting businesses with new and unique opportunities and challenges. As the ‘Internet of Things’ (IoT) and Third Platform continue to grow, the analysis of structured and unstructured data will drive insights that change the way businesses operate, create distinctive value, and deliver services and applications to the consumer and to each other. As enterprises and IT grapple to take advantage of these trends in order to gain share and drive revenue, they must be mindful of the Information Security and Data Protection pitfalls that lay in wait ─ hurdles that have already tripped up market leaders and minnows alike.

scholarly journals ANALYSIS OF THE CONCEPT INTERNET OF THINGS AND THE DYNAMICS OF ITS DEVELOPMENT IN DIFFERENT INDUSTRIES

2020 ◽  
pp. 171-185
Author(s):  
Yuliia Pyrih ◽  
Mykola Kaidan ◽  
Olena Hordiichuk-Bublivska
Keyword(s):  
Internet Of Things ◽  
Smart City ◽  
Business Models ◽  
Human Life ◽  
Qualitative Change ◽  
Human Condition ◽  
The Internet ◽  
Intelligent Transport System ◽  
And Storage ◽  
The Internet Of Things

The paper considers the concept of "Internet of Things", which is increasingly penetrating into various spheres of human life and contributes to a significant qualitative change in economic, operational and technological processes. The stages of functioning of the Internet of Things and the levels of its architecture are considered. Based on an analysis of a number of literature sources, the IoT has the greatest impact on six industries such as electricity and housing, health, agriculture and livestock, freight transportation and storage, smart city and construction, and manufacturing. A description of the main types of services for each of these industries and the role of the Internet of Things for its development. It is determined that the application of IoT solutions: in energy - allows to reduce the cost of infrastructure operation, prevent serious accidents and increase the efficiency of asset use; in healthcare - provides real-time streaming of data from devices that monitor the human condition, which allows for accurate diagnosis, increase the accuracy of results and optimize the provision of medical care; in agriculture and livestock - allows to significantly increase the efficiency of cultivation and reduce losses of agricultural products by raising awareness in decision-making and the ability to respond quickly to changes in weather, prices, market situation, etc .; for transportation and storage of goods - allows to provide smooth movement of operations and reduction of underutilization of resources for profit maximization; for "smart city" and construction - allows you to fundamentally improve the city's economy, improve living standards and public safety through more efficient management of housing and communal services, transport and services for the population; for industrial production - allows you to optimize production processes, modify business models, as well as increase productivity and efficiency, while reducing costs. The scheme of intelligent transport system for the city of Kyiv is presented.

scholarly journals Business Models and Internet of Things

2019 ◽  
Vol 13 (1) ◽  
pp. 1192-1203
Author(s):  
Dragos Tohanean ◽  
Anca Vasilescu
Keyword(s):  
Internet Of Things ◽  
Value Chain ◽  
Business Models ◽  
New Technologies ◽  
Value Added ◽  
The Internet ◽  
Real Time Processing ◽  
New Business ◽  
The Internet Of Things ◽  
New Business Models

Abstract Information technology has massively transformed the world of business over the past fifty years - first individual functional areas within companies (“first wave”), later increasingly also cross-divisional value-added processes and trade (“second wave”). Those companies that recognized the tremendous economic potential of these upheavals and consistently adapted, profited enormously - many others, however, fell dramatically. At the same time, innovative startups emerged that successfully created and occupied new markets. With the Internet of Things (IoT), the third digital wave is currently rolling up. Their impact will be enormous - both for our everyday lives and for many industries that have so far been largely spared the disruptive power of digital transformation. Accordingly, the challenges facing most companies today are: understanding more complex competition, acquiring new digital technologies, making existing offerings smart, developing new services, networking production, efficiently analyzing vast amounts of data, and building viable organizations to push all this forward. The IoT is a driver for digitization. By analyzing machine data, the use of sensors and the intelligent real-time processing of huge amounts of data in the cloud, new business models are created. With the information gained, companies are able to improve their value chain. However, one of the most difficult issues in this context for many companies is how they can further develop their existing business model or establish successful new business models that will be based on new technologies and IoT. To investigate resulting impacts, we draw on the existing business models and deduct specifics for the Internet of Things. Building on this, in order to reach the aims of the paper the authors will use a descriptive research method and a case study in order to present how new business models work with the IoT.

scholarly journals Designing Business Models for the Internet of Things

2014 ◽  
Vol 4 (7) ◽  
pp. 5-14 ◽  
Author(s):  
Mika Westerlund ◽  
Seppo Leminen ◽  
Mervi Rajahonka
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
The Internet ◽  
The Internet Of Things

scholarly journals Implications of the Internet-of-Things on the components of business models of mining companies

2021 ◽  
Vol 18 (1) ◽  
pp. 314-336
Author(s):  
C. Eresia-Eke ◽  
C. Muller
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
The Internet ◽  
Mining Companies ◽  
The Internet Of Things
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