Industrial Internet Application Development

IoT business models

As the penetration of the IoT continues in various industry verticals, we will see new business models evolve and new and creative ways of generating value for the end customers and therefore generating revenue. Before we look at possible emerging business models, it's important to take a deeper look at how these technologies are being used today. We can divide the use of IoT technologies into the following broad categories:

• Smart monitoring of the existing product or service install base: The products and services that businesses sell today have monitoring, alerting, and reporting solutions. However, these are siloed and not interconnected with each other or to the internet. That limits their utility and usage; the IoT ...