Abstract
With the emergence of Internet of Things (IoT) as a new source of 'big data', businesses face new opportunities as well as emergent challenges. However, although academics and practitioners often critically debate the IoT, little attention has been focused on the design and development of IoT. Re-framing of NPD for IoT is compulsory as the integration of software in physical products is radically challenging the innovation processes and practices. Thus, the aim of this paper is to contribute to a comprehensive understanding of IoT New Product Development (NPD). Based on a featured case study, a new approach towards IoT design and development process and their relevance against the characteristics of existing NPD processes are reviewed and critically debated. This paper summarises how NPD processes and value creation could be improved and proposes guidelines with the conceptual framework for IoT NPD processes.
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