Abstract
Employing the Internet of Things (IoT) in business changes the way in which value is offered to customers. To enable and ensure effective value exchange, proper business models are required. In this literature review study (n=56), business model frameworks created for the IoT context were evaluated.
The results show that although most of the frameworks emphasize the ecosystemic nature of IoT, even they still largely do not describe the connections, dynamics, and causality between the business model components. While IoT as such does not necessarily need a specific business model, the ecosystemic nature of IoT is bound to influence the business model, thus making IoT business models more integrative, inter-relational, and complex. The results also suggest that the ecosystem-level co-creation of business models needs to be emphasized and studied further.
The results show that although most of the frameworks emphasize the ecosystemic nature of IoT, even they still largely do not describe the connections, dynamics, and causality between the business model components. While IoT as such does not necessarily need a specific business model, the ecosystemic nature of IoT is bound to influence the business model, thus making IoT business models more integrative, inter-relational, and complex. The results also suggest that the ecosystem-level co-creation of business models needs to be emphasized and studied further.
| Original language | English |
|---|---|
| Title of host publication | Proceedings of the 24th UK Academy for Information Systems (UKAIS) International Conference |
| Subtitle of host publication | 9th-10th April 2019, St. Catherine's College Oxford |
| Publisher | Association for Information Systems AIS |
| Pages | 210-232 |
| Number of pages | 23 |
| ISBN (Electronic) | 978-0-9560272-3-8 |
| Publication status | Published - 25 Feb 2020 |
| Publication type | A4 Article in conference proceedings |
| Event | UK ACADEMY FOR INFORMATION SYSTEMS CONFERENCE - Duration: 1 Jan 1900 → … |
Conference
| Conference | UK ACADEMY FOR INFORMATION SYSTEMS CONFERENCE |
|---|---|
| Period | 1/01/00 → … |
Keywords
- business model
- case study
- literature review
- IoT
- Internet of Things
Publication forum classification
- Publication forum level 1