Internet of Things and Business Models

Research output: Chapter in Book/Report/Conference proceedingPaper in conference proceeding

Abstract

Understanding implications on firm performance from the emergence of Internet of Things (IoT) is critical in order for firms to make rational decisions regarding business model configurations and investments in IoT. The transition between the current state and widespread adoption and diffusion of IoT is expected to be complex, and standardization is one of multiple barriers discussed in research regarding Internet of Things. In order to ensure interoperability between billions of heterogeneous devices, standardization may be a significant factor with potential impact on IoT investments. To expand our understanding of strategic implications of IoT investments, this paper analyzes the impact of IoT on business models and sources of value creation by applying a proposed framework to empirical illustrations. Further research is needed to support development of frameworks and to advance our understanding of how firms should act in order to meet challenges generated by the emergence of IoT.

Details

Authors
Research areas and keywords

Subject classification (UKÄ) – MANDATORY

  • Business Administration

Keywords

  • business models, empirical illustrations, Internet of Things, interoperability, standardization
Original languageEnglish
Title of host publicationProceedings of the 9th International Conference on Standardization and Innovation in Information Technology, IEEE SIIT 2015
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781467395335
Publication statusPublished - 2016 Aug 5
Publication categoryResearch
Peer-reviewedYes
Event9th International Conference on Standardization and Innovation in Information Technology, IEEE SIIT 2015 - Sunnyvale, United States
Duration: 2015 Oct 62015 Oct 8

Conference

Conference9th International Conference on Standardization and Innovation in Information Technology, IEEE SIIT 2015
CountryUnited States
CitySunnyvale
Period2015/10/062015/10/08