Internet-of-things market, value networks, and business models : state of the art report

Defining an Internet-of-Things Ecosystem

By bringing the Internet connectivity to the things, the Internet-of-Things (IoT) promises a number of benefits to its customers, varying from faster and more accurate sensing of our environment, to more cost-efficient tracking of industrial processes. Likewise, from the business perspective, the wide adoption of IoT is expected to generate significant revenues to the providers of IoT application and services. The IoT adoption depends on whether the ecosystems of the companies focusing on IoT technologies would emerge and succeed in delivering to the market the solutions attractive to the customers. Therefore, it is of utmost importance to understand the essence and constituents of IoT ecos…