Developing a business model for the IoT platform ecosystem

Abstract

The focus of this study is to analyze the present business model for different companies around a common project. Different kinds of products and what is productization is explained. This is followed by a brief explanation on what is IoT and the most important building blocks of business models in a service dominant company. The current state of case studies presents the analysis of important elements in the business model and platform governance context. The results discuss the weaknesses and strengths of each company with regards to different elements. The chosen business model for case studies is discussed in different elements in details and the most important elements of them is how to increase customer interaction by offering complex solution.