IDEAS home Printed from https://ideas.repec.org/a/gam/jftint/v16y2024i10p384-d1503573.html
   My bibliography  Save this article

Internet of Things and Distributed Computing Systems in Business Models

Author

Listed:
  • Albérico Travassos Rosário

    (The Research Unit on Governance, Competitiveness and Public Policies (GOVCOPP), Universidade Europeia, 1200-649 Lisbon, Portugal)

  • Ricardo Raimundo

    (ISEC Lisboa, Instituto Superior de Educação e Ciências (Superior Lisbon Institute of Education and Sciences), 1750-142 Lisbon, Portugal
    IADE-Faculdade de Design, Tecnologia e Comunicação, Universidade Europeia, 1200-649 Lisbon, Portugal)

Abstract

The integration of the Internet of Things (IoT) and Distributed Computing Systems (DCS) is transforming business models across industries. IoT devices allow immediate monitoring of equipment and processes, mitigating lost time and enhancing efficiency. In this case, manufacturing companies use IoT sensors to monitor machinery, predict failures, and schedule maintenance. Also, automation via IoT reduces manual intervention, resulting in boosted productivity in smart factories and automated supply chains. IoT devices generate this vast amount of data, which businesses analyze to gain insights into customer behavior, operational inefficiencies, and market trends. In turn, Distributed Computing Systems process this data, providing actionable insights and enabling advanced analytics and machine learning for future trend predictions. While, IoT facilitates personalized products and services by collecting data on customer preferences and usage patterns, enhancing satisfaction and loyalty, IoT devices support new customer interactions, like wearable health devices, and enable subscription-based and pay-per-use models in transportation and utilities. Conversely, real-time monitoring enhances security, as distributed systems quickly respond to threats, ensuring operational safety. It also aids regulatory compliance by providing accurate operational data. In this way, this study, through a Bibliometric Literature Review (LRSB) of 91 screened pieces of literature, aims at ascertaining to what extent the aforementioned capacities, overall, enhance business models, in terms of efficiency and effectiveness. The study concludes that those systems altogether leverage businesses, promoting competitive edge, continuous innovation, and adaptability to market dynamics. In particular, overall, the integration of both IoT and Distributed Systems in business models augments its numerous advantages: it develops smart infrastructures e.g., smart grids; edge computing that allows data processing closer to the data source e.g., autonomous vehicles; predictive analytics, by helping businesses anticipate issues e.g., to foresee equipment failures; personalized services e.g., through e-commerce platforms of personalized recommendations to users; enhanced security, while reducing the risk of centralized attacks e.g., blockchain technology, in how IoT and Distributed Computing Systems altogether impact business models. Future research avenues are suggested.

Suggested Citation

  • Albérico Travassos Rosário & Ricardo Raimundo, 2024. "Internet of Things and Distributed Computing Systems in Business Models," Future Internet, MDPI, vol. 16(10), pages 1-27, October.
    • Handle: RePEc:gam:jftint:v:16:y:2024:i:10:p:384-:d:1503573
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1999-5903/16/10/384/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1999-5903/16/10/384/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Gousia Habib & Sparsh Sharma & Sara Ibrahim & Imtiaz Ahmad & Shaima Qureshi & Malik Ishfaq, 2022. "Blockchain Technology: Benefits, Challenges, Applications, and Integration of Blockchain Technology with Cloud Computing," Future Internet, MDPI, vol. 14(11), pages 1-22, November.
    2. Albérico Travassos Rosário & Joana Carmo Dias, 2023. "The New Digital Economy and Sustainability: Challenges and Opportunities," Sustainability, MDPI, vol. 15(14), pages 1-23, July.
    3. Mateusz Lewandowski, 2016. "Designing the Business Models for Circular Economy—Towards the Conceptual Framework," Sustainability, MDPI, vol. 8(1), pages 1-28, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pina Puntillo, 2023. "Circular economy business models: Towards achieving sustainable development goals in the waste management sector—Empirical evidence and theoretical implications," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 941-954, March.
    2. Aleksey I. Shinkevich & Alsu R. Akhmetshina & Ruslan R. Khalilov, 2022. "Development of a Methodology for Forecasting the Sustainable Development of Industry in Russia Based on the Tools of Factor and Discriminant Analysis," Mathematics, MDPI, vol. 10(6), pages 1-16, March.
    3. María E. Aguilar-Fernández & José Ramon Otegi-Olaso, 2018. "Firm Size and the Business Model for Sustainable Innovation," Sustainability, MDPI, vol. 10(12), pages 1-27, December.
    4. Nadia Preghenella & Cinzia Battistella, 2021. "Exploring business models for sustainability: A bibliographic investigation of the literature and future research directions," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2505-2522, July.
    5. Dimitrios Vlachopoulos & Rannveig Björk Thorkelsdóttir & Despoina Schina & Jóna Guðrún Jónsdóttir, 2023. "Teachers’ Experience and Perceptions of Sustainable Digitalization in School Education: An Existential Phenomenological Study of Teachers in Romania, Greece, Cyprus, Iceland, and The Netherlands," Sustainability, MDPI, vol. 15(18), pages 1-17, September.
    6. Saja Kosanović & Mirjana Miletić & Ljubo Marković, 2021. "Energy Refurbishment of Family Houses in Serbia in Line with the Principles of Circular Economy," Sustainability, MDPI, vol. 13(10), pages 1-14, May.
    7. Anna Barford & Saffy Rose Ahmad, 2021. "A Call for a Socially Restorative Circular Economy: Waste Pickers in the Recycled Plastics Supply Chain," Circular Economy and Sustainability, Springer, vol. 1(2), pages 761-782, September.
    8. Mariale Moreno & Carolina De los Rios & Zoe Rowe & Fiona Charnley, 2016. "A Conceptual Framework for Circular Design," Sustainability, MDPI, vol. 8(9), pages 1-15, September.
    9. Nancy Bocken & Lars Strupeit & Katherine Whalen & Julia Nußholz, 2019. "A Review and Evaluation of Circular Business Model Innovation Tools," Sustainability, MDPI, vol. 11(8), pages 1-25, April.
    10. Luigi Fusco Girard & Marilena Vecco, 2021. "The “Intrinsic Value” of Cultural Heritage as Driver for Circular Human-Centered Adaptive Reuse," Sustainability, MDPI, vol. 13(6), pages 1-28, March.
    11. Castro-Lopez, Adrian & Iglesias, Victor & Santos-Vijande, María Leticia, 2023. "Organizational capabilities and institutional pressures in the adoption of circular economy," Journal of Business Research, Elsevier, vol. 161(C).
    12. Chembessi Chedrak & Gohoungodji Paulin & Juste Rajaonson, 2023. "“A fine wine, better with age”: Circular economy historical roots and influential publications: A bibliometric analysis using Reference Publication Year Spectroscopy (RPYS)," Journal of Industrial Ecology, Yale University, vol. 27(6), pages 1593-1612, December.
    13. Stanislav Mráz, 2016. "Je Humanitárna Intervencia V Súlade S Medzinárodným Právom?," Almanach (Actual Issues in World Economics and Politics), Ekonomická univerzita, Fakulta medzinárodných vzťahov, vol. 11(4), pages 14-19.
    14. María Jesús Ávila-Gutiérrez & Alejandro Martín-Gómez & Francisco Aguayo-González & Juan Ramón Lama-Ruiz, 2020. "Eco-Holonic 4.0 Circular Business Model to Conceptualize Sustainable Value Chain towards Digital Transition," Sustainability, MDPI, vol. 12(5), pages 1-32, March.
    15. Gilbert Silvius & Aydan Ismayilova & Vicente Sales-Vivó & Micol Costi, 2021. "Exploring Barriers for Circularity in the EU Furniture Industry," Sustainability, MDPI, vol. 13(19), pages 1-25, October.
    16. Pamučar, Dragan & Durán-Romero, Gemma & Yazdani, Morteza & López, Ana M., 2023. "A decision analysis model for smart mobility system development under circular economy approach," Socio-Economic Planning Sciences, Elsevier, vol. 86(C).
    17. Vinit Parida & Joakim Wincent, 2019. "Why and how to compete through sustainability: a review and outline of trends influencing firm and network-level transformation," International Entrepreneurship and Management Journal, Springer, vol. 15(1), pages 1-19, March.
    18. Marina P. P. Pieroni & Tim C. McAloone & Daniela C. A. Pigosso, 2019. "Configuring New Business Models for Circular Economy through Product–Service Systems," Sustainability, MDPI, vol. 11(13), pages 1-22, July.
    19. Gabi Försterling & Ronald Orth & Benjamin Gellert, 2023. "Transition to a Circular Economy in Europe through New Business Models: Barriers, Drivers, and Policy Making," Sustainability, MDPI, vol. 15(10), pages 1-40, May.
    20. Elena Simina Lakatos & Lucian-Ionel Cioca & Viorel Dan & Alina Oana Ciomos & Oana Adriana Crisan & Ghita Barsan, 2018. "Studies and Investigation about the Attitude towards Sustainable Production, Consumption and Waste Generation in Line with Circular Economy in Romania," Sustainability, MDPI, vol. 10(3), pages 1-25, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jftint:v:16:y:2024:i:10:p:384-:d:1503573. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.