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Business models for the Internet of Things

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  • Dijkman, R.M.
  • Sprenkels, B.
  • Peeters, T.
  • Janssen, A.

Abstract

The Internet of Things is the connection – via the internet – of objects from the physical world that are equipped with sensors, actuators and communication technology. This technology is looked at by a large variety of domains, such as manufacturing, healthcare and energy, to facilitate the development of new applications and the improvement of existing applications. To also enable the commercial exploitation of these applications, new types of business models must be developed. Frameworks exist to facilitate the development of business models. These frameworks define the building blocks that a business model address. This paper presents a business model framework specifically for Internet of Things applications. Through a literature survey, interviews and a survey among practitioners, it identifies the building blocks that are relevant in an Internet of Things business model, types of options that can be focused on within these building blocks and the relative importance of these building blocks and types. The framework can be used by developers as a starting point for creating business models for Internet of Things applications.

Suggested Citation

  • Dijkman, R.M. & Sprenkels, B. & Peeters, T. & Janssen, A., 2015. "Business models for the Internet of Things," International Journal of Information Management, Elsevier, vol. 35(6), pages 672-678.
    • Handle: RePEc:eee:ininma:v:35:y:2015:i:6:p:672-678
    DOI: 10.1016/j.ijinfomgt.2015.07.008
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    References listed on IDEAS

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    Cited by:

    1. Ancillai, Chiara & Sabatini, Andrea & Gatti, Marco & Perna, Andrea, 2023. "Digital technology and business model innovation: A systematic literature review and future research agenda," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    2. Delgosha, Mohammad Soltani & Hajiheydari, Nastaran & Talafidaryani, Mojtaba, 2022. "Discovering IoT implications in business and management: A computational thematic analysis," Technovation, Elsevier, vol. 118(C).
    3. Roe, Michael & Spanaki, Konstantina & Ioannou, Athina & Zamani, Efpraxia D. & Giannakis, Mihalis, 2022. "Drivers and challenges of internet of things diffusion in smart stores: A field exploration," Technological Forecasting and Social Change, Elsevier, vol. 178(C).
    4. Lim, Chiehyeon & Kim, Ki-Hun & Kim, Min-Jun & Heo, Jun-Yeon & Kim, Kwang-Jae & Maglio, Paul P., 2018. "From data to value: A nine-factor framework for data-based value creation in information-intensive services," International Journal of Information Management, Elsevier, vol. 39(C), pages 121-135.
    5. Park, Sukyung & Rosca, Eugenia & Agarwal, Nivedita, 2022. "Driving social impact at the bottom of the Pyramid through the internet-of-things enabled frugal innovations," Technovation, Elsevier, vol. 118(C).
    6. Sorri, Krista & Mustafee, Navonil & Seppänen, Marko, 2022. "Revisiting IoT definitions: A framework towards comprehensive use," Technological Forecasting and Social Change, Elsevier, vol. 179(C).
    7. Andreas Eigner & Christian Stary, 2023. "The Role of Internet-of-Things for Service Transformation," SAGE Open, , vol. 13(1), pages 21582440231, March.
    8. Graziela Molling & Amarolinda Zanela Klein, 2022. "Value proposition of IoT-based products and services: a framework proposal," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(2), pages 899-926, June.

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