Open Innovation Strategies for IoT Platforms : How can IoT Platforms Build and Offer Solutions using Open Innovation
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Examensarbete för masterexamen
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Model builders
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Abstract
IoT platform market growth has exceeded expectations since 2015 and has a steady
growth projected until 2026. Functionality has expanded, leading to a crowded space
and intensely competitive market to operate. Most of the successful proprietary IoT
platforms focus on vertical, purpose-built applications/solutions rather than universal
products which leads to the lack of suitable products that fit the needs of small and
medium enterprises (SMEs). The proprietary IoT platforms have a high cost and have
limitations such as vendor lock-in, late responses to innovations, and customizability.
This thesis aims to investigate the open innovation approaches of successful
commercial open IoT platforms to devise a suitable open innovation strategy for IoT
platforms to build solutions that can solve the issues present today.
The thesis is conducted using a multiple case study design. The cases are chosen from
open IoT platforms that are commercially successful and are accepted as being open
or use an open innovation approach in their business logic. The study also analyses
the ‘opensource toolbox’ presented in the open platform design theory to explore how
it can be used to design openness for IoT platforms.
The study concluded that open innovation in IoT platforms can solve the issues of
vendor lock-in, and interoperability and enable faster innovation in the domain. A
community-based or stakeholder-based open-source approach is likely to be a better
solution to solve the issues, given the complex software-heavy technology
underpinning the product. Although the study is not exhaustive, it presents the
characteristics that need to be considered for building a commercial IoT platform
using an open-source approach. An adapted version of the open-source toolbox is
presented.
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Keywords
IoT (Internet-of-Things), IoT platforms, Open Innovation, Opensource