Business Models for Interoperable IoT Ecosystems
The Internet of Things (IoT) is growing and more and more devices, so-called “things”, are being connected every day. IoT platforms provide access to those “things” and make them available for services and applications. Today, a broad range of such IoT platforms exist with differing functional foci, target domains, and interfaces. However, to fully exploit the economic impact of the IoT, it is essential to enable applications to interoperate with the various IoT platforms. The BIG IoT project aims at enabling this interoperability and supporting the creation of vibrant IoT ecosystems, which facilitate the development of cross-platform and cross-domain applications. While the value of interoperability for the overall economy is well understood and cannot be underestimated, some stakeholders may still need to find their business value in interoperable IoT ecosystems. Thus, this paper identifies the different stakeholders of such ecosystems, and analyses how these stakeholders can enhance their existing business models when taking part in an interoperable IoT ecosystem.
KeywordsInternet of Things Ecosystems Business models Interoperability
This work is financially supported by the project “Bridging the Interoperability Gap” (BIG IoT) funded by the European Commission’s Horizon 2020 research and innovation program under grant agreement No. 688038.
- 2.Gartner: Gartner says the Internet of Things installed base will grow to 26 Billion units by 2020 (2013). http://www.gartner.com/newsroom/id/2636073
- 3.Manyika, J., Chui, M., Bisson, P., Woetzel, J., Dobbs, R., Bughin, J., Aharon, D.: The Internet of Things: Mapping the Value Beyond the Hype. McKinsey Global Institute (2015)Google Scholar
- 5.James, R.: The internet of things: a study in hype, reality, disruption, and Growth. Raymond James US Research, Technology & Communications, Industry Report (2014)Google Scholar
- 6.Fleisch, E., Weinberger, M., Wortmann, F.: Business models and the internet of things. In: Interoperability and Open-Source Solutions for the Internet of Things, pp. 6–10. Springer (2015)Google Scholar
- 7.Gassmann, O., Karolin, F., Michaela, C.: The St. Gallen business model navigator. ITEM-HSG, St. Gallen (2013)Google Scholar
- 8.Vermesan, O., Bahr, R.,Gluhak, A., Boesenberg, F., Hoeer, A., Osella, M.: IoT business models framework. Unify-IoT Project (2016)Google Scholar
- 9.List Of 360 + IoT Platform Companies. IoT Analytics (2016). https://iot-analytics.com/product/list-of-360-iot-platform-companies/
- 11.Open Mobile Alliance. Lightweight Machine to Machine Technical Specification, Candidate (2015)Google Scholar
- 12.Allee, V.: What is ValueNet works analysis?. In: ValueNet Works Fieldbook (2006)Google Scholar
- 13.Osterwalder, A., Pigneur, Y., Bernarda, G., Smith, A.: Value Proposition Design: How to Create Products and Services Customers Want. Wiley, New York (2014)Google Scholar
- 14.IoT market segments – biggest opportunities in industrial manufacturing. IoT Analytics (2016). https://iot-analytics.com/iot-market-segments-analysis/