The influence of the Industrial Internet of Things on business models of established manufacturing companies – A business level perspective

Kiel, Daniel; Arnold, Christian; Voigt, Kai‐Ingo

doi:10.1016/j.technovation.2017.09.003

Cited by 345 publications

(240 citation statements)

References 42 publications

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“…Adding connected sensors and actuators to present offerings in an unsystematic manner does not necessarily lead to market success; evaluating market needs on an on-going basis is crucial [32]. Several researchers highlight the importance of specifying and quantifying value creation to communicate the benefits of the particular business model, so that offering functions that are not requested by, and do not create any value for, the target customer is avoided [35][36][37]. Thus, firms would benefit from initially mapping out potential digital technology applications and the potential value benefits they can bring [6].…”

Section: Digitalization and Value Creationmentioning

confidence: 99%

“…However, there will be a shortage of industry 4.0-qualified personnel; companies will be required to invest in the education and training of their employees to fit new job profiles and new workplaces as well as to better integrate low qualified and elderly personnel [6,42,43]. But, to succeed with digital transformation, a firm mentality and culture that supports the transformation and actively searches for opportunities will need to be established [6,33,36].…”

Section: Digitalization and Value Deliverymentioning

confidence: 99%

“…It may well become difficult for existing actors to keep their powerful positions in the supply chain when faced with other actors working in, for example, software development, data interpretation, and services, with potentially stronger prospects of dominating the supply chain [35,48]. Therefore, every company needs to determine which partners and complementary actors will be needed to deliver value and how this partnership should look [36]. Lenka et al [4] have shown how co-creation with customers is enabled by digital technology.…”

Section: Digitalization and Value Deliverymentioning

confidence: 99%

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Reviewing Literature on Digitalization, Business Model Innovation, and Sustainable Industry: Past Achievements and Future Promises

2019

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Digitalization is revolutionizing the way business is conducted within industrial value chains through the use of Internet of Things (IoT) technologies, intensive data exchange and predictive analytics. However, technological application on its own is not enough; profiting from digitalization requires business model innovation such as making the transition to advanced service business models. Yet, many research gaps remain in analyzing how industrial companies can leverage digitalization to transform their business models to achieve sustainability benefits. Specifically, challenges related to value creation, value delivery, and value capture components of business model innovation need further understanding as well as how alignment of these components drive sustainable industry initiatives. Thus, this special issue editorial attempts to take stock of the emerging research field through a literature review and providing a synthesis of special issue contributions. In doing so, we contribute by developing a framework that communicates and sets the direction for future research by linking digitalization, business model innovation, and sustainability in industrial settings.

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Section: Digitalization and Value Creationmentioning

confidence: 99%

Section: Digitalization and Value Deliverymentioning

confidence: 99%

Section: Digitalization and Value Deliverymentioning

confidence: 99%

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Reviewing Literature on Digitalization, Business Model Innovation, and Sustainable Industry: Past Achievements and Future Promises

2019

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“…business and IT) to design new business models, bridging gaps between previously separated business units and ecosystem players. Manufacturers that have not yet advanced their digital transformation, or which lack the internal resources to do so, must rely on external partner networks and development partners, who possess the know-how or the necessary resources [37]. Goals can be to create new digital value, to improve information flows and exchange between business ecosystem partners, and to enable a seamless customer experience.…”

Section: Review and Discussionmentioning

confidence: 99%

Behind the Blackbox of Digital Business Models

Ahmad¹,

Botzkowski²,

Klötzer³

et al. 2020

Proceedings of the Annual Hawaii International Conference on System Sciences

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In recent years global competition has undergone significant change as a result of the increasing digitalization or digital transformation of business and society. New forms of value creation have emerged, particularly through the emergence of companies such as Google and Facebook, and other digital disruptors. As a result of these developments, established companies face the challenge of aligning their business model with the new circumstances. One way of doing this is digitalization of the existing business model or designing a completely new digital business model. In this context, however, there is no commonly accepted definition and understanding of the nature of digital business models representing the context of Industry 4.0, cyber-physical systems, and the Internet of Things. So, this work is based on a literature review to help understand the concept of a digital business model. With this contribution, we enable scientific added value for business model research and at the same time help business practice to understand exactly what a digital business model is and which levers of transformation need to be considered.

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“…Nevertheless, digital platforms help addressing future challenges that should call for researchers' interest [12]. New, data-centric business models are expected through platforms within the concept of Industry 4.0 [42]. Further, some authors show successful application examples of platforms in the context of the Internet of Things [43][44][45][46].…”

Section: Digital Platformsmentioning

confidence: 99%

Antecedents to Digital Platform Usage in Industry 4.0 by Established Manufacturers

Müller

2019

Sustainability

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Digital platforms are expected to have the potential for a multitude of purposes forindustrial enterprises, for instance when integrated within the concept of Industry 4.0. Despite itsrelevance for industrial value creation, little research on platforms in the industrial context hasbeen undertaken so far. Owing to the lack of research in this field, the paper aims to investigate thepotentials and challenges of digital platforms in order to generate an understanding of theantecedents to the use of digital platforms by established manufacturers. In thequalitative-exploratory study, the paper uses a qualitative empirical research approach, relying onin-depth expert interviews. The sample comprises interviews with managers of 102 German andAustrian industrial enterprises from several industrial sectors. All of the enterprises regarded havepractical experiences with digital platforms. The results show that the main potentials of digitalplatforms are reducing transaction costs, combining strengths of enterprises, and realizingeconomies of scale as well as economies of scope. Yet, digital platforms bring challenges, such as alack of trust, competitive thinking, high coordination efforts, and loss of confidential information.The paper further distinguishes between various industry sectors revealing interesting differences.Based on the results, the paper indicates possibilities for future research and provides corporatepractice with implications.

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The influence of the Industrial Internet of Things on business models of established manufacturing companies – A business level perspective

Cited by 345 publications

References 42 publications

Reviewing Literature on Digitalization, Business Model Innovation, and Sustainable Industry: Past Achievements and Future Promises

Reviewing Literature on Digitalization, Business Model Innovation, and Sustainable Industry: Past Achievements and Future Promises

Behind the Blackbox of Digital Business Models

Antecedents to Digital Platform Usage in Industry 4.0 by Established Manufacturers

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