IoT-Based HydroM8 Self-Watering Plant: A Design Thinking Approach and Business Model Analysis

Abstract

The Internet of Things (IoT) generates new business opportunities by connecting physical objects with a multitude of sensors. IoT research mainly focused on technology and business models are relatively unexplored, although developing IoT business models is important for successful IoT service. The aim of this research is to prototyping business model for IoT development HydroM8 Self-Watering Plant. This research has a generic design thinking framework and business model for IoT through literature analysis and interviews. To create the developing of the HydroM8 Self-Watering Plant, the researcher undertakes case studies of a group of students who are in the process of finding problems, creating ideas, design product, to testing the HydroM8 Self-Watering Plant product using IoT that combines internet technology and smartphones. In addition, a group of students also made a Business Model which will later be used as planning, especially in the Competitive Advantages, Key Resources, Key Partners, Cost Structure to added value and sell products that will later be marketed to consumers. This research acts as a starting point for designing or developing business models for IoT services. The findings suggest that the HydroM8 Self-Watering Plant has a considerable chance of success rate for potential users, especially those who like to water plants but do not have enough time. The HydroM8 Self-Watering Plant can be a tool for caring (watering plants automatically) and this tool can provide information to users when their plants have been watered. This HydroM8 Self-Watering Plant has the potential to significantly impact for the community of agriculture sector and promote sustainable water use efficiency.