This paper puts the Internet of Things in a wider context: How it relates to the Future Internet overall, and where the business value lies so that it will become interesting for enterprises to invest in it. Real-World Awareness and Business Process Decomposition are the two major paradigms regarding future business value. The major application domains where the Internet of Things will play an important role and where there are concrete business opportunities are highlighted. But there are also many technical challenges that need to be addressed. These are listed and it is shown how they are tackled by existing research projects with industrial participation.

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