IOT Business Models - 1
STRATEGIES FOR IOT BUSINESS.
IoT solutions integrate the applications, technologies, and requirements of Internet Technology and Operation Technology domains into unified online-offline systems. Data are the fuel for all IoT systems. All incremental value of an IoT product or offering is related to data acquisition, processing, integration or exploitation.
Why is a specific business model development approach required for IoT solutions?
The Internet of Things (IoT) presents a multitude of growth opportunities across several industries. However, the realization of these opportunities necessitates the development of a complex technology stack and value chain. Consequently, the design of IoT business models must meet specific requirements.
Three domains need to be bridged: the operational technologies (OT), information technologies (IT), and the business.
Top 4 business model for IoT are
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