Business Model Framework for IoT: Case Studies and Strategic Implications for IoT BusinessesBusiness Model Framework for IoT: Case Studies and Strategic Implications for IoT Businesses
- Other Titles
- Business Model Framework for IoT: Case Studies and Strategic Implications for IoT Businesses
- Authors
- 김동욱; 김성범; 이정환
- Issue Date
- Feb-2022
- Publisher
- 한국데이터전략학회
- Keywords
- Internet of Things; Business Model; Entrance Strategy; Expansion Strategy; Adoption of IoT by Traditional Businesses
- Citation
- Journal of Information Technology Applications & Management, v.29, no.1, pp 1 - 28
- Pages
- 28
- Journal Title
- Journal of Information Technology Applications & Management
- Volume
- 29
- Number
- 1
- Start Page
- 1
- End Page
- 28
- URI
- https://scholarworks.bwise.kr/kumoh/handle/2020.sw.kumoh/25693
- ISSN
- 1598-6284
- Abstract
- To realize the vision of internet of things (IoT), where it is expected to bring significant impact to the global economy in the future, consideration of business models in the IoT context is necessary. This research attempts to build an enhanced artifact business model framework based on the definitions of IoT and literature on business models for analysis of IoT businesses. The framework is used to analyze four different types of players: the owner of things, vendors of devices, providers of connectivity and providers of IoT application services. The findings suggest that the owners of things tend to partner with ICT players to complement their weakness, and it tends to be connectivity providers. The device vendors leverage their strength of devices and device platforms to attract and enable 3rd party sensor/devices to interconnect, while the service providers are aiming to penetrate into customer premise. These lead to the following recommendations for non-IT players to consider in expanding into IoT business: 1) take into account differences in product development process between IT and non-IT businesses in expanding into IoT market; 2) collaborate with ICT players that acknowledge and understand the differences.
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Collections - Department of IT Convergence > 1. Journal Articles
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