Endres, Herbert and Indulska, Marta and Ghosh, Arunava (2024) Unlocking the potential of Industrial Internet of Things (IIOT) in the age of the industrial metaverse: Business models and challenges. INDUSTRIAL MARKETING MANAGEMENT, 119. pp. 90-107. ISSN 0019-8501, 1873-2062
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While the Industrial Internet of Things (IIoT) holds much promise, there is a mismatch between its potential and companies capturing value from investments in IIoT. Indeed, even when companies recognize the value of IIoT, they do not necessarily know how to grasp related opportunities and are challenged in developing a suitable business model. Accordingly, to alleviate roadblocks to capturing value from IIoT, in this paper we address the challenge of identifying suitable business models in the age of the industrial metaverse. We do so through an extensive review and classification of main IIoT business model archetypes that are successful in practice. In particular, we conduct a content analysis of IIoT projects based on over 2000 articles in industry trade magazines and newspapers. Our analysis identifies four distinct business model archetypes in the context of IIoT, viz. IIoT digical, IIoT service-centered, IIoT data-driven, and IIoT platform, and further explores the challenges that need to be addressed to ensure that companies can capture value from their IIoT initiatives. We explore appropriate contexts for these business model archetypes, and, in doing so, we provide actionable guidance for industrial (marketing) managers seeking to position their IIoT offerings and maximize their value.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Industrial Internet of Things (IIoT); Industry 4.0; value capture; IIoT business model archetypes; successful business models; business model canvas; industrial metaverse; business model performance |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Business, Economics and Information Systems > Institut für Betriebswirtschaftslehre > Lehrstuhl für Betriebswirtschaft, insbesondere Strategisches Industriegütermarketing (Prof. Dr. Roland Helm) |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 04 Dec 2025 05:26 |
| Last Modified: | 04 Dec 2025 05:26 |
| URI: | https://pred.uni-regensburg.de/id/eprint/64714 |
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