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Business & Information Systems Engineering

, Volume 57, Issue 3, pp 221–224 | Cite as

Internet of Things

Technology and Value Added
  • Felix WortmannEmail author
  • Kristina Flüchter
Catchword

Introduction

It has been next to impossible in the past months not to come across the term “Internet of Things” (IoT) one way or another. Especially the past year has seen a tremendous surge of interest in the Internet of Things. Consortia have been formed to define frameworks and standards for the IoT. Companies have started to introduce numerous IoT-based products and services. And a number of IoT-related acquisitions have been making the headlines, including, e.g., the prominent takeover of Nest by Google for $3.2 billion and the subsequent acquisitions of Dropcam by Nest and of SmartThings by Samsung. Politicians as well as practitioners increasingly acknowledge the Internet of Things as a real business opportunity, and estimates currently suggest that the IoT could grow into a market worth $7.1 trillion by 2020 (IDC 2014).

While the term Internet of Things is now more and more broadly used, there is no common definition or understanding today of what the IoT actually encompasses....

Keywords

Internet of things Technology stack Platforms 

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Copyright information

© Springer Fachmedien Wiesbaden 2015

Authors and Affiliations

  1. 1.Institute of Technology ManagementUniversity of St. GallenSt. GallenSwitzerland
  2. 2.Institute of Information ManagementETH ZurichZurichSwitzerland

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