[go: up one dir, main page]

Skip to main content

Business Models and Use Cases for the IoT

  • Chapter
  • First Online:
IoT Platforms, Use Cases, Privacy, and Business Models

Abstract

Internet of Things (IoT) is a challenging subject that includes a wide range of technologies and industries, performing tasks on an infinite number of possibilities. Growing demand for IoT solutions increased the need for adopting new research and development options to bring IoT technology to the market. Business plans are important in order to understand how an IoT product adds value to customers and companies so at the moment there are various emerging IoT business models. In this chapter, we are presenting an overview of business models as well as IoT impact. Moreover, we are analysing some of the current challenges in building, transport, energy, and health domain and how use cases developed to facilitate these challenges. We further analyse business models of the VICINITY IoT platform and generally the digital transformation impact on business models. Finally, the business model design of the Gorenje group is presented. Gorenje Group is a company moving from being a traditional manufacturer towards a services-oriented organisation.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Subscribe and save

Springer+ Basic
$34.99 /Month
  • Get 10 units per month
  • Download Article/Chapter or eBook
  • 1 Unit = 1 Article or 1 Chapter
  • Cancel anytime
Subscribe now

Buy Now

eBook
USD 12.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 89.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 119.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Similar content being viewed by others

Notes

  1. 1.

    Sigfox—https://www.sigfox.com/en.

  2. 2.

    LoRa Alliance—https://lora-alliance.org/.

References

  1. The new thing: A silicon valley story (2000). New York: W.W. Norton.

    Google Scholar 

  2. Gassmann, O. (2013). 55 pattern cards St. Gallen business model navigator. [St. Gallen]: BMI lab AG.

    Google Scholar 

  3. Shafer, S. M., Smith, H. J., & Linder, J. C.: The power of business models. Business Horizons, 48(3), 199–207.

    Google Scholar 

  4. What are some examples of a business model? https://www.aha.io/roadmapping/guide/product-strategy/what-are-some-examples-of-a-business-model

  5. Turber, S., vom Brocke, J., Gassmann, O., & Fleisch, E. (2014). Designing business models in the era of Internet of Things. In M. C. Tremblay, D. VanderMeer, M. Rothenberger, A. Gupta, & V. Yoon (Eds.) Advancing the impact of design science: Moving from theory to practice (pp. 17–31). Cham: Springer.

    Google Scholar 

  6. How the Internet of Things changes business models. Harvard Business Review (2014). https://hbr.org/2014/07/how-the-internet-of-things-changes-business-models/

  7. Pei Breivold, H., & Rizvanovic, L. (2018). Business modeling and design in the Internet-of-Things context. In 2018 IEEE 11th International Conference on Cloud Computing (CLOUD) (pp. 524–531).

    Google Scholar 

  8. Smith, D. J. (2013). Power-by-the-hour: The role of technology in reshaping business strategy at Rolls-Royce. Technology Analysis & Strategic Management, 25(8), 987–1007.

    Article  Google Scholar 

  9. Wolfe, J. (2019). Roomba vacuum maker iRobot betting big on the ’smart’ home. https://www.reuters.com/article/us-irobot-strategy-idUSKBN1A91A5?il=0

    Google Scholar 

  10. Hodapp, D., Remane, G., Hanelt, A., & Kolbe, L. (2019). Business models for Internet of Things platforms: Empirical development of a taxonomy and archetypes. In 2019 14th International Conference on Wirtshaftsinformatik.

    Google Scholar 

  11. Dawson, C. (2019). Mitsubishi bets people will reveal their driving habits to insurers for a freebie. https://www.wsj.com/articles/mitsubishi-bets-people-will-reveal-their-driving-habits-to-insurersfor-a-freebie-1530853415

    Google Scholar 

  12. MacGillivray, C., & Reinsel, D. (2019). Worldwide global datasphere IoT device and data forecast, 2019–2023. Technical report, International Data Corporation (IDC).

    Google Scholar 

  13. Dimitrov, D. V. (2016). Medical Internet of Things and big data in healthcare. Healthcare Informatics Research, 22(3), 156–163.

    Article  Google Scholar 

  14. Ghanbari, A., Laya, A., Alonso-Zarate, J., & Markendahl, J. (2017). Business development in the Internet of Things: A matter of vertical cooperation. IEEE Communications Magazine, 55(2), 135–141.

    Article  Google Scholar 

  15. Chaudhari, S. S., & Bhole, V. Y. (2018). Solid waste collection as a service using IoT-solution for smart cities. In 2018 International Conference on Smart City and Emerging Technology (ICSCET) (pp. 1–5). Piscataway: IEEE.

    Google Scholar 

  16. Doffman, Z. (2019). Cyberattacks on IoT devices surge 300% in 2019, ‘measured in billions’, report claims. https://www.forbes.com/sites/zakdoffman/2019/09/14/dangerous-cyberattacks-on-iot-devices-up-300-in-2019-now-rampant-report-claims/#f34504958926

    Google Scholar 

  17. Higginbotham, S. (2018). The internet of trash: IoT has a looming e-waste problem. IEEE Spectrum: Technology, Engineering, and Science News, 17. https://spectrum.ieee.org/telecom/internet/the-internet-of-trash-iot-has-a-looming-ewaste-problem

  18. AboBakr, A., & Azer, M. A. (2017). IoT ethics challenges and legal issues. In 2017 12th International Conference on Computer Engineering and Systems (ICCES) (pp. 233–237). Piscataway: IEEE.

    Chapter  Google Scholar 

  19. Likar, M., & Miklav, A. (2016). Digital business strategy - planning and implementation. In 25th Annual Conference of the Slovenian Association for Quality and Excellence, Portorož, Slovenia.

    Google Scholar 

  20. European Commission Buildings. (2017). https://ec.europa.eu/energy/en/topics/energy-efficiency/buildings

  21. Economidou, M., Atanasiu, B., Despret, C., Maio, J., Nolte, I., Rapf, O., et al. (2011). Europe’s buildings under the microscope. A country-by-country review of the energy performance of buildings. http://bpie.eu/wp-content/uploads/2015/10/HR_EU_B_under_microscope_study.pdf

  22. Shan, M., Hwang, B.-G., & Zhu, L. (2017). A global review of sustainable construction project financing: Policies, practices, and research efforts. Sustainability, 9(12), 2347.

    Article  Google Scholar 

  23. Ramprasad, B., McArthur, J., Fokaefs, M., Barna, C., Damm, M., & Litoiu, M. (2018). Leveraging existing sensor networks as IoT devices for smart buildings. In 2018 IEEE 4th World Forum on Internet of Things (WF-IoT) (pp. 452–457).

    Google Scholar 

  24. Minoli, D., Sohraby, K., & Occhiogrosso, B. (2017). IoT considerations, requirements, and architectures for smart buildings-energy optimization and next-generation building management systems. IEEE Internet of Things Journal, 4(1), 269–283.

    Article  Google Scholar 

  25. Spaced out: Perspectives on parking policy (2012). https://www.racfoundation.org/research/mobility/spaced-out-perspectives-on-parking

  26. Mohanty, S. P., Choppali, U., & Kougianos, E. (2016). Everything you wanted to know about smart cities: The Internet of Things is the backbone. IEEE Consumer Electronics Magazine, 5(3), 60–70.

    Article  Google Scholar 

  27. Silva, B. N., Khan, M., & Han, K. (2018). Towards sustainable smart cities: A review of trends, architectures, components, and open challenges in smart cities. Sustainable Cities and Society, 38, 697–713.

    Article  Google Scholar 

  28. Lin, T., Rivano, H., & Le Mouël, F. (2017). A survey of smart parking solutions. IEEE Transactions on Intelligent Transportation Systems, 18(12), 3229–3253.

    Article  Google Scholar 

  29. Papaioannou, T. G., Kotsopoulos, D., Bardaki, C., Lounis, S., Dimitriou, N., Boultadakis, G., et al. (2017). IoT-enabled gamification for energy conservation in public buildings. In 2017 Global Internet of Things Summit (GIoTS) (pp. 1–6).

    Google Scholar 

  30. Pan, J., Jain, R., Paul, S., Vu, T., Saifullah, A., & Sha, M. (2015). An Internet of Things framework for smart energy in buildings: Designs, prototype, and experiments. IEEE Internet of Things Journal, 2(6), 527–537.

    Article  Google Scholar 

  31. Avancini, D. B., Martins, S. G. B., Rabelo, R. A. L., Solic, P., & J. J. P. C. Rodrigues. A flexible IoT energy monitoring solution. In 2018 3rd International Conference on Smart and Sustainable Technologies (SpliTech) (pp. 1–6).

    Google Scholar 

  32. Militello, A., Borra, M., Bisegna, F., Burattini, C., & Grandi, C. (2016). Smart technologies: Useful tools to assess the exposure to solar ultraviolet radiation for general population and outdoor workers. In 18th Italian National Conference on Photonic Technologies (Fotonica 2016) (pp. 1–4).

    Google Scholar 

  33. Farahani, B., Firouzi, F., Chang, V., Badaroglu, M., Constant, N., & Mankodiya, K. (2018). Towards fog-driven IoT eHealth: Promises and challenges of IoT in medicine and healthcare. Future Generation Computer Systems, 78, 659–676.

    Article  Google Scholar 

  34. Eurostat: A look at the lives of the elderly in the EU today. https://ec.europa.eu/eurostat/cache/infographs/elderly/index.html

  35. Eurostat statistics explained. Overweight and obesity, BMI statistics. https://ec.europa.eu/eurostat/statistics-explained/index.php/Overweight_and_obesity_-_BMI_statistics

  36. Commission of the European Communities. (2007). White paper on a strategy for Europe on nutrition, overweight and obesity related health issues.

    Google Scholar 

  37. Official Journal of the European Union. (2014). Council conclusions on nutrition and physical activity, c 213/1-6.

    Google Scholar 

  38. Greece profile of health and well-being (2016). World Health Organization.

    Google Scholar 

  39. Hellenic Statistical Authority. (2011). Population-housing census web site. http://www.statistics.gr/en/2011-census-pop-hous

  40. Debeljak, Ž. (2015). Gorenje group: Digital business strategic guidelines. Technical report, Gorenje Group’s internal document.

    Google Scholar 

  41. Inc Project Management Institute. (2017). The standard for portfolio management (4th ed.). Newtown Square: Project Management Institute.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Athanasios Tryferidis .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2021 Springer Nature Switzerland AG

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Escribano, C.P., Theologou, N., Likar, M., Tryferidis, A., Tzovaras, D. (2021). Business Models and Use Cases for the IoT. In: Zivkovic, C., Guan, Y., Grimm, C. (eds) IoT Platforms, Use Cases, Privacy, and Business Models. Springer, Cham. https://doi.org/10.1007/978-3-030-45316-9_3

Download citation

  • DOI: https://doi.org/10.1007/978-3-030-45316-9_3

  • Published:

  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-45315-2

  • Online ISBN: 978-3-030-45316-9

  • eBook Packages: EngineeringEngineering (R0)

Publish with us

Policies and ethics