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Business Models Applicable to IoT
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Author(s): Manuel Rocha Fiuza Branco Junior (FUMEC University, Brazil), Cássio Luís Batista (FUMEC University, Brazil), Marco Elisio Marques (FUMEC University, Brazil)and Claudio Roberto Magalhães Pessoa (FUMEC University, Brazil)
Copyright: 2019
Pages: 22
Source title:
Handbook of Research on Business Models in Modern Competitive Scenarios
Source Author(s)/Editor(s): George Leal Jamil (Informações em Rede e Consultoria Ltda., Brazil), Liliane Carvalho Jamil (Independent Researcher, Brazil), Cláudio Roberto Magalhães Pessoa (FUMEC University, Brazil)and Werner Silveira (Philharmonic Orchestra of Minas Gerais, Brazil)
DOI: 10.4018/978-1-5225-7265-7.ch002
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Abstract
Business models have been analyzed in the context of the information technology economy and are aligning the idea of innovation developing with the economy or, in other words, business aligning technology and market. Some care must be taken on the transformation of the Information Systems through the introduction of the new unique IoT offers in many fields. For the IoT systems, a complex value stack needs to be addressed in order to realize the possibilities on the innovation in the services. This induces specific requirements when it comes to designing IoT business models. IoT enables new business models, which create value by connecting existing and new things together to establish new business processes, increase business efficiency, enable greater innovation and drive improved visibility across an organization. To be successful, information systems need to consider all the layers of value creation in order to enable the collection of information with the agility needed in the modern world of business. This chapter highlights the IoT systems, its features and market expectations. It also suggests the existence of two classes of business models for IOT, the Digitally Loaded Product and another classified as Sensor as a Service, which address the uniqueness of IoT.
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