Year: 2025
Type: article
Abstract: The Internet of Things (IoT) is revolutionizing various industries by connecting devices, enabling data-driven decision-making, and fostering new business opportunities. This bibliometric analysis aims to investigate the current state and future directions of IoT business model research. By examining a dataset of relevant academic publications, this study identifies key themes, trends, and gaps within the literature. The analysis reveals that while significant progress has been made in integrating IoT with emerging technologies such as artificial intelligence, blockchain, and big data, there are still considerable gaps in comprehensively incorporating these advancements into business models. Furthermore, the study highlights the nascent stage of research on the integration of sustainability and circular economy principles within IoT business models. Business model innovation is another critical area where depth and breadth of research are lacking, particularly in developing frameworks that enhance the commercial viability and differentiation of IoT solutions. Issues of interoperability and standardization, essential for the scalability of IoT applications, remain underexplored. Additionally, the study identifies a fragmentation in understanding how digital transformation drives value creation within IoT business models, suggesting the need for more cohesive and interdisciplinary approaches. This bibliometric analysis provides a foundation for future research, highlighting the importance of addressing these gaps to develop robust, scalable, and sustainable IoT business models that can effectively meet the demands of various industries.
Authors: Colin Song, Fauziah Sh Ahmad
Institution: University of Technology Malaysia
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4409869959