Internet of Things and Co-creation of Value

Mejtoft, Thomas

doi:10.1109/ithings/cpscom.2011.75

Cited by 39 publications

(23 citation statements)

References 39 publications

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“…Mejtoft [39] depicts three layers of value creation in IOT: manufacturing, supporting, and value co-creation. The first layer means that manufacturers or retailers benefit from the simple possibility of tracking single items.…”

Section: Iot Business Modelsmentioning

confidence: 99%

Towards IOT Ecosystems and Business Models

Leminen

Westerlund

Rajahonka

et al. 2012

Internet of Things, Smart Spaces, and Next Generation Networking

102

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Abstract. The recent discourse on IOT (Internet of Things) has emphasized technology and different technology layers. Currently, there is a pressing need for research into the emerging IOT ecosystems from the business perspective. This is due to their promise to create new business models, improve business processes, and reduce costs and risks. However, the existing literature lacks understanding and empirical research on what IOT business models are and how they are connected to the underlying ecosystem. We focus on this critical research gap by studying business models in the IOT ecosystem context. In the study, we construct a framework for analyzing different types of IOT business models. Furthermore, we use case examples from the automotive industry in explaining how these models are employed in connection with ecosystems. The study concludes by giving suggestions to business model developers and researchers.

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Section: Iot Business Modelsmentioning

confidence: 99%

Towards IOT Ecosystems and Business Models

Leminen

Westerlund

Rajahonka

et al. 2012

Internet of Things, Smart Spaces, and Next Generation Networking

102

View full text Add to dashboard Cite

show abstract

“…There are also scholars who pursued rather comprehensive analysis of value creation without weighting on particular propositions. For instance, Mejtoft [49] analyzed the value component from (i) manufacturing, (ii) supporting, (iii) and co-creative behavior of things perspectives. The manufacturing layer denoted the hardware aspect of the IoT, the supporting layer reflected the process of data collection for further value creation, and the co-creative layer uses IoT as a cocreative partner.…”

Section: Componentsmentioning

confidence: 99%

Unlashing the Next Wave of Business Models in the Internet of Things Era: New Directions for a Research Agenda based on a Systematic Literature Review

Omerovic¹,

Islam

Buxmann

2020

Proceedings of the Annual Hawaii International Conference on System Sciences

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Pervasive digitization of products and services open additional avenues for the next wave of business model opportunities. Most of firms are aware of the monetization potentials that the Internet of Things (IoT) has to offer, however, they still struggle to create a compelling value propositions. Despite the attention of both research and practice onto business models and the IoT, only few concepts and research endeavors regarding their intersections exist. This paper tends to unleash the specificity of the business models within the IoT technologies, and motivate new, ecosystem, perspective for upcoming research. Following a rigorous methodology for a comprehensive and systematic literature review, we develop five literature clusters related to the Internet of Things-driven business model research, evaluate and analyze the papers within clusters, and finally identify the gaps and propose directions for future research.

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“…The major benefit of connected devices is directly related to seamless data availability. Moreover, in MTC applications, consumers are part of the aftermarket and deliver usage data and feedback to product manufacturers and MTC service providers (SPs), allowing cocreation of values [25,26]. Therefore, when the data represent valuable information and are processed appropriately, they can be exploited as a product.…”

Section: Business Implications For Mtc In Ltementioning

confidence: 99%