Business Development in the Internet of Things: A Matter of Vertical Cooperation

Abstract

Smart and connected devices can improve industrial processes and generate new and better services. While this premise is well understood within the ICT industry, there is a challenge in extending this knowledge to vertical industries. The potential of the Internet of Things (IoT) lies in the interaction among industries working together towards value co-creation. Firms need to look beyond their internal business models and explore cooperative perspectives to define new business opportunities. In this paper, we look into the relevance of vertical cooperation in the IoT and highlight the need to develop new value networks which leverage this cooperation and enable the creation of new business models. To lead our discussions, we use the examples of two major building blocks of Smart Cities; Intelligent Transport Systems (ITS) and Health and Wellbeing services based on connected devices and solutions.

Business Case and Technology Analysis for 5G Low Latency Applications

“…Hence, the discussion will no longer be about cooperation between two operators. Instead, we will see cooperation in larger business networks or value configurations [59], [60]. We will see an evolution of the operator-centric business model and cooperation patterns [60], [61].…”

“…Work on networked business models and industrial networks claim that we need to go from firm-centric business models to network-embedded business models [64], [65]. Here, vertical cooperation and competition is a key concept [59], [66].…”

Internet of skills, where robotics meets AI, 5G and the Tactile Internet

“…Again, this redefined entire segments of the economy in the first decade of the 21 th century [3]. Today, we witness the emergence of the Internet of Things (IoT) [4], soon to connect billions of objects and starting to redefine yet again various economies of this decade [5].…”

How connectivity is transforming the automotive ecosystem

“…The automotive ecosystem is going through a profound transformation, partly, because of the introduction of Internet of things (IoT) and new emerging technologies . Vehicles have become one of the things that will be soon interconnected and Internet connected.…”

“…The automotive ecosystem is going through a profound transformation, partly, because of the introduction of Internet of things (IoT) and new emerging technologies. 1 Vehicles have become one of the things that will be soon interconnected and Internet connected. In fact, they can collect, use, and send information concerning speed, weather, driving conditions, or location, to make driving safer, more efficient, and more comfortable.…”