Business Models for Interoperable IoT Ecosystems

The Internet of Things (IoT) is growing and more and more devices, so-called “things”, are being connected every day. IoT platforms provide access to those “things” and make them available for services and applications. Today, a broad range of such IoT platforms exist with differing functional foci, target domains, and interfaces. However, to fully exploit the economic impact of the IoT, it is essential to enable applications to interoperate with the various IoT platforms. The BIG IoT project aims at enabling this interoperability and supporting the creation of vibrant IoT ecosystems, which facilitate the development of cross-platform and cross-domain applications. While the value of interoperability for the overall economy is well understood and cannot be underestimated, some stakeholders may still need to find their business value in interoperable IoT ecosystems. Thus, this paper identifies the different stakeholders of such ecosystems, and analyzes how these stakeholders can enhance their existing business models when taking part in an interoperable IoT ecosystem.