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Business Model Innovation for the Internet of Things

In: Digital Transformation in Industry

Author

Listed:
  • Carsten Deckert

    (Düsseldorf University of Applied Sciences)

  • Jannik Kalefeld

    (Atlas Copco Tools Central Europe GmbH)

  • Martin Kutz

    (Atlas Copco Tools Central Europe GmbH)

Abstract

The increasing networking of machines and systems in the course of the Internet of Things is changing products, companies, and competitive boundaries. The commoditization of hardware is forcing traditionally product-driven companies to develop digital services and software solutions in order to continue to secure unique selling propositions and competitive advantages. Although many companies have successfully advanced the digitalization of their product portfolios, very few market players also manage to integrate the new solutions profitably and competitively into their business models. New types of performance and services can no longer be forced into the classic business model of pure product sales but require dedicated business models. To help companies break out of their comfort zone, this article deals with the development of a structured procedure for working out business model innovations. For this purpose, business model patterns, which account for 90% of all business model innovations, are taken as a basis and methodically selected. In so doing, a structural approach to business model innovation is developed.

Suggested Citation

  • Carsten Deckert & Jannik Kalefeld & Martin Kutz, 2022. "Business Model Innovation for the Internet of Things," Lecture Notes in Information Systems and Organization, in: Vikas Kumar & Jiewu Leng & Victoria Akberdina & Evgeny Kuzmin (ed.), Digital Transformation in Industry, pages 321-333, Springer.
    • Handle: RePEc:spr:lnichp:978-3-030-94617-3_23
    DOI: 10.1007/978-3-030-94617-3_23
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