Welcome to the InfoSci Platform
Reference Hub1
A Business Model Framework for Crowd-Driven IoT Ecosystems

A Business Model Framework for Crowd-Driven IoT Ecosystems

Xenia Ziouvelou, Frank McGroarty
Copyright: © 2019 |Pages: 23
ISBN13: 9781522583622|ISBN10: 1522583629|EISBN13: 9781522583639
DOI: 10.4018/978-1-5225-8362-2.ch015
Cite Chapter Cite Chapter

MLA

Ziouvelou, Xenia, and Frank McGroarty. "A Business Model Framework for Crowd-Driven IoT Ecosystems." Crowdsourcing: Concepts, Methodologies, Tools, and Applications, edited by Information Resources Management Association, IGI Global, 2019, pp. 262-284. https://doi.org/10.4018/978-1-5225-8362-2.ch015

APA

Ziouvelou, X. & McGroarty, F. (2019). A Business Model Framework for Crowd-Driven IoT Ecosystems. In I. Management Association (Ed.), Crowdsourcing: Concepts, Methodologies, Tools, and Applications (pp. 262-284). IGI Global. https://doi.org/10.4018/978-1-5225-8362-2.ch015

Chicago

Ziouvelou, Xenia, and Frank McGroarty. "A Business Model Framework for Crowd-Driven IoT Ecosystems." In Crowdsourcing: Concepts, Methodologies, Tools, and Applications, edited by Information Resources Management Association, 262-284. Hershey, PA: IGI Global, 2019. https://doi.org/10.4018/978-1-5225-8362-2.ch015

Export Reference

Mendeley
Favorite

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.

Request Access

You do not own this content. Please login to recommend this title to your institution's librarian or purchase it from the IGI Global bookstore.