A business model framework for crowd-driven IoT ecosystems
A business model framework for crowd-driven IoT ecosystems
This article describes how the era of hyper-connectivity is characterized by distributed, crowd-centric ecosystems that utilise cutting edge technology so as to harness the collective power, co-creation ability and intelligence of the crowd utilising under open participatory value creation models. The Internet of Things (IoT) has fueled the emergence of such ecosystems that leverage not only the power of physical things connected to the Internet but also the wisdom of the crowd to observe, measure, and make sense of phenomena via user-owned mobile and wearable devices. Existing business modelling literature has to date, placed no research attention on business models for such emerging ecosystems. This article aims to fill this gap by examining the dynamics of crowd-driven IoT ecosystems and introducing a business model framework for such environments, encompassing all relevant value-creating actors, activities and processes, facilitating this way a holistic ecosystem business model analysis.
Business Models, Contextual Open Innovation 2.1, Crowd-Driven Ecosystem Business Model Framework, Crowd-Driven Ecosystems, Crowd-Driven IoT Ecosystems, IoT Business Models, Participatory Value Model
14-33
Ziouvelou, Xenia
f348404d-47c0-479f-9371-311cf7917e48
McGroarty, Frank
693a5396-8e01-4d68-8973-d74184c03072
1 July 2018
Ziouvelou, Xenia
f348404d-47c0-479f-9371-311cf7917e48
McGroarty, Frank
693a5396-8e01-4d68-8973-d74184c03072
Ziouvelou, Xenia and McGroarty, Frank
(2018)
A business model framework for crowd-driven IoT ecosystems.
International Journal of Social Ecology and Sustainable Development, 9 (3), .
(doi:10.4018/IJSESD.2018070102).
Abstract
This article describes how the era of hyper-connectivity is characterized by distributed, crowd-centric ecosystems that utilise cutting edge technology so as to harness the collective power, co-creation ability and intelligence of the crowd utilising under open participatory value creation models. The Internet of Things (IoT) has fueled the emergence of such ecosystems that leverage not only the power of physical things connected to the Internet but also the wisdom of the crowd to observe, measure, and make sense of phenomena via user-owned mobile and wearable devices. Existing business modelling literature has to date, placed no research attention on business models for such emerging ecosystems. This article aims to fill this gap by examining the dynamics of crowd-driven IoT ecosystems and introducing a business model framework for such environments, encompassing all relevant value-creating actors, activities and processes, facilitating this way a holistic ecosystem business model analysis.
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A Business Model Framework for Crowd-driven IoT Ecosystems_Ziouvelou_Jan2018_Title-Abstract
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Accepted/In Press date: 20 January 2018
Published date: 1 July 2018
Keywords:
Business Models, Contextual Open Innovation 2.1, Crowd-Driven Ecosystem Business Model Framework, Crowd-Driven Ecosystems, Crowd-Driven IoT Ecosystems, IoT Business Models, Participatory Value Model
Identifiers
Local EPrints ID: 422840
URI: http://eprints.soton.ac.uk/id/eprint/422840
ISSN: 1947-8402
PURE UUID: 53d0c4e9-5e73-4934-b853-3ad42213389b
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Date deposited: 06 Aug 2018 16:30
Last modified: 16 Mar 2024 03:33
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Contributors
Author:
Xenia Ziouvelou
Author:
Frank McGroarty
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