Industrial internet of things business models in the machine-to-machine context

Seppo Leminen, Mervi Rajahonka, Robert Wendelin, Mika Westerlund

Tutkimustuotos: LehtiartikkeliArticleScientificvertaisarvioitu

Abstrakti

This study analyzes Industrial Internet of Things (IIoT) business models in the machine-to-machine (M2M) context. Thereby, it develops a conceptual framework to categorize different types of business model innovation for companies operating in the M2M business space. Business model innovations tend to cross multiple industries and drive ecosystems in which smart objects facilitate business models and service applications that are incrementally or radically novel in terms of their modularity or architecture. Our framework identifies four distinct types of IIoT business models: (I) Company-specific business models, (II) Systemic business models, (III) Value designs, and (IV) Systemic value designs. Moreover, it sheds light on different abstraction levels of business model building blocks and exposes the characteristics and differences in the value potential between the four business models. Finally, we advance the idea of ‘value design’ referring to business models of multiple actors coupled together, ultimately resulting in complex networks and ecosystems of diverse things, processes, and companies.
AlkuperäiskieliEnglanti
Sivut298-311
JulkaisuIndustrial Marketing Management
Vuosikerta84
Varhainen verkossa julkaisun päivämäärä21 elokuuta 2019
DOI - pysyväislinkit
TilaJulkaistu - tammikuuta 2020
OKM-julkaisutyyppiA1 Julkaistu artikkeli, soviteltu

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