IT PARK
    Most Popular

    What is the relationship between cloud computing and cloud storage? The 3 major disadvantages of cloud computing explained!

    Jun 01, 2025

    Ten application scenarios for blockchain

    Jun 29, 2025

    Has the development of big data come to an end?

    May 19, 2025

    IT PARK IT PARK

    • Home
    • Encyclopedia

      What is a port?

      Jul 01, 2025

      What to do with a laptop blue screen

      Jun 30, 2025

      Is it better to save the file as a zip archive or as the original file?

      Jun 29, 2025

      What is cross-site scripting attack

      Jun 28, 2025

      The difference between SLR and digital cameras

      Jun 27, 2025
    • AI

      Can AI Painting Replace Human Painters

      Jul 01, 2025

      Who owns the copyright of the paintings created by AI for you?

      Jun 30, 2025

      How does the meta universe "feed" artificial intelligence models?

      Jun 29, 2025

      Amazon Bedrock: How to Stay Competitive in Generative AI

      Jun 28, 2025

      AGI Avengers! Google Brain and DeepMind officially announced a merger

      Jun 27, 2025
    • Big Data

      Transforming the construction industry through digital twin modeling

      Jul 01, 2025

      How does big data start? From small data to big data

      Jun 30, 2025

      What is big data? What can big data do?

      Jun 29, 2025

      Benefits of big data analysis and how to analyze big data

      Jun 28, 2025

      Six benefits of big data for enterprises

      Jun 27, 2025
    • CLO

      Essential factors to consider for a successful cloud transformation journey

      Jul 01, 2025

      Building a Smart City: The Importance of Cloud Storage

      Jun 30, 2025

      SaaS sprawl: meaning, hazard, status quo and mitigation plan

      Jun 29, 2025

      What are the advantages and disadvantages of hybrid cloud?

      Jun 28, 2025

      Cloud computing has many applications in our daily life, what are the main ones?

      Jun 27, 2025
    • IoT

      6 Ways the Internet of Things is Transforming Agriculture

      Jul 01, 2025

      4 Big Challenges for IoT Data Collection and Management

      Jun 30, 2025

      Most enterprises expect a return on investment within one year of IoT deployment

      Jun 29, 2025

      What are the main applications of IoT in our real life?

      Jun 28, 2025

      IoT systems and why they are so important

      Jun 27, 2025
    • Blockchain

      Blockchain Common Consensus Mechanisms

      Jul 01, 2025

      How energy company Powerledger (POWR) is using blockchain to improve the world

      Jun 30, 2025

      Ten application scenarios for blockchain

      Jun 29, 2025

      What is a privacy coin? What is the difference between them and Bitcoin?

      Jun 28, 2025

      The difference between Bitcoin cash and Bitcoin

      Jun 27, 2025
    IT PARK
    Home » IoT » Use the Internet of Things to find new business models
    IoT

    Use the Internet of Things to find new business models

    Equipment networking is an important part of digitalization. Today, we can conclude that the future market opportunities for non network connected devices will only become less and less. We have talked about digital transformation and the Internet of Things for a long time, but it is estimated that we may not realize the full extent of this change in another decade.
    Updated: Jun 10, 2025
    Use the Internet of Things to find new business models

    We have talked about digital transformation and the Internet of Things for a long time, but it is estimated that we may not realize the full extent of this change in another decade. At that time, we will not only see that the old has become new and the analog has become digital, but also new business models will emerge. A great opportunity for digitalization is that it opens up new possibilities for the previous "dumb" products and services.

    Building a new business model through the network

    Equipment networking is an important part of digitalization. Today, we can conclude that the future market opportunities for non network connected devices will only become less and less. This development speed will depend on the speed of solving the security challenges of the Internet of Things. Once these problems are solved, the Internet of Things can gain more attraction and provide more opportunities for new business models.

    Networking has created new links between previously isolated sectors and industries. Smart home is a good example. In this field, one of the most important needs of consumers is to improve security, especially to prevent burglary when no one is at home. The concept of digital security has linked the passive factors to each other and provided homeowners with the opportunity to simulate someone at home even when they are on vacation. For example, a homeowner can remotely access security camera images, adjust lighting, and control shutters through an application. In addition, alarm system providers can expand their product functions accordingly by adding additional services, making it an all inclusive product portfolio. (Source: Home of the Internet of Things) In general, when providers cooperate with other manufacturers, more smart home functions can be made possible. In the future, we will also see more extensive cooperation between partners from different backgrounds who are committed to the same theme.

    Supplement to digital components

    New business models can also be created around existing products. Among them, "digital products" are physical objects that can be connected to the Internet and generate new added value. For example, modern heating systems can be optimized and adjusted through data connection without the presence of heating engineers. Even predictive maintenance will become possible. Predictive maintenance is no longer based on strict time intervals, but based on the actual wear of the machine to predict failures in advance, thereby reducing unplanned downtime and repair costs. If the system finally fails, remote diagnosis can also help directly, thus greatly reducing the repair time. Moreover, the dispatcher will know what to do and prepare all necessary components.

    Sensor as a Service

    The consumer is still the owner of the product and can benefit from the additional services of "digital products", while the "sensor as a service" business model provides a new solution. The sensors used here belong to service providers, which provide customers with real-time data-driven services and sell these services. For example, intelligent parking, parking spaces in cities are equipped with sensors, so their occupancy can be displayed on the parking navigation system or mobile applications in real time. In addition, intelligent parking providers can also cooperate with the whole city to improve parking management by optimizing utilization, and ultimately reduce traffic congestion and carbon emissions.

    Pay as you use

    Establishing a new business model is also the basis of the value chain. Machine manufacturers now offer their products for service and usage fees. Therefore, the printer manufacturer no longer sells the property right of its printing machine, but provides printing facilities for the printing company, and then the printing company pays the use fee by hour. This model is beneficial to both sides: the printing company has lower investment costs, and in turn can charge more transparent related fees to the printing company. In addition, printer manufacturers have expanded their added value and can use machine data to maintain, optimize and develop the next generation of machines.

    summary

    In the next few years, we will certainly see more new business models based on the Internet of Things, and we need to wait and see which are more advantageous in the end. However, it is clear that any company that can create additional or new benefits by using IoT technology will succeed in the future IoT market. In addition, these advantages may vary greatly: more security, comfort, amount of information, or less cost, risk, and investment.

    internet of things business model digitization
    Previous Article How blockchain is revolutionizing cybersecurity
    Next Article How Polygon is outperforming Ether for three big reasons

    Related Articles

    IoT

    Self-driving cars: Opening the wave of full digital disruption in the Internet of Things era

    May 21, 2025
    IoT

    Protecting IT, OT, IOT and IoMT in Healthcare

    Jun 24, 2025
    IoT

    Is Predictive Maintenance the Ultimate Solution for the Internet of Things

    Jun 22, 2025
    Most Popular

    What is the relationship between cloud computing and cloud storage? The 3 major disadvantages of cloud computing explained!

    Jun 01, 2025

    Ten application scenarios for blockchain

    Jun 29, 2025

    Has the development of big data come to an end?

    May 19, 2025
    Copyright © 2025 itheroe.com. All rights reserved. User Agreement | Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.