Crowd-Driven IoT/IoE Ecosystems: A Multidimensional Approach

Business Models for Crowd-driven IoT Ecosystems: A Review

“…In crowd-driven ecosystems, on the other hand, value is co-created, co-captured and co-distributed presenting a new triangular participatory value model driven by and for users [1]. However, despite this fundamental change in the business logic, from firm-centric to ecosystem-centric and crowd driven ecosystemcentric [1], we see that the business model research has not evolved in parallel. Given the disruptive nature of the crowd-driven IoT ecosystems current business model approaches and frameworks, facilitating the development, analysis and implementation of business models, should be adapted accordingly under a dynamic flexible business model framework.…”

“…Initially, an exploratory review analysis that synthesizes current scientific knowledge is provided. This analysis relies on two streams of literature, namely, ecosystem research [2,3] and business model research [4] aiming to reflect upon the notion of crowd-driven IoT ecosystems [1]. This is followed by a classification of existing research under an explanatory framework that facilitates the analysis of business model components and frameworks that correspond to the needs of IoT ecosystems.…”

“…As such in the context of generic exosystems,value creation and capture are embedded within the whole ecosystem, implying that while value is co-created and cocaptured [8,5,9,10]. In crowd-driven ecosystems, on the other hand, value is co-created, co-captured and co-distributed presenting a new triangular participatory value model driven by and for users [1]. However, despite this fundamental change in the business logic, from firm-centric to ecosystem-centric and crowd driven ecosystemcentric [1], we see that the business model research has not evolved in parallel.…”

“…Five distinct ecosystem types are distinguished in this paper: knowledge ecosystems, business ecosystems, digital business ecosystems, innovation ecosystems and crowd-driven ecosystems. In the sections that follow, we provide a short overview of these ecosystem concepts and as well as a taxonomy following the analysis of [1] (Table 1).…”

“…During the past few years crowd-driven ecosystems [1] have emerged, powered by technology, open innovation, and participatory value creation processes driven by users. Crowd-driven ecosystems are virtual distributed ecosystems that facilitate the creation of a global meta-environment for realising a change in the role of the users from passive to active co-creators, collaborators and co-innovators making them partners in the innovation process.…”