Internet of Things: Aspiration, implementation and contribution

Abstract

The Internet of Things (IoT) technologies offer unique opportunities for organisations to improve their performance, innovativeness and as a result pursue competitive advantages. However, organisations are uncertain how to adopt IoT to exploit its potential. This study explores emerging issues and future horizons in the IoT business model context, identifying factors that influence and hinder organisation's ability to implement IoT. A survey revealed a number of drivers and barriers to IoT implementation. These findings informed the development of the Aspiration, Implementation and Contribution (AIC) business model framework that offers guidance to organisations about how to adopt IoT in order to create value. Findings provide novel theoretical insight into the barriers and drivers influencing the implementation of IoT technologies. The development of the AIC business model will help standardise the realisation of value and implementation of IoT.