The Impact of the Internet of Things on Business Models and Strategies
| dc.contributor.author | Petko, Stanislav | |
| dc.contributor.author | Петько, Станіслав Михайлович | |
| dc.contributor.author | Sytailo,Uliana | |
| dc.contributor.author | Nazarkevych, Ihor | |
| dc.contributor.author | Popovych, Daria | |
| dc.contributor.author | Naumov, Maksym | |
| dc.date.accessioned | 2024-12-13T10:16:05Z | |
| dc.date.available | 2024-12-13T10:16:05Z | |
| dc.date.issued | 2024-11 | |
| dc.description.abstract | The relevance of our study is due to the rapid development of Internet of Things (IoT) technologies and their significant impact on business models and strategies of enterprises. In the context of the global digital transformation, the introduction of IoT is becoming an important factor that can significantly increase the competitiveness of companies in various fields. The aim of the study is to look at how IoT is affecting the business models and strategies of enterprises in industries such as manufacturing, logistics, healthcare and retail. We also aim to explore how these technological changes are contributing to process optimisation and efficiency gains for companies. In our work, we use a quantitative approach to analyse the adoption of IoT in the above industries. To do this, we analyse statistical data, analysts' reviews and conduct a comparative analysis of business models of companies that have already integrated IoT into their operations. The results showed that the impact of IoT varies by industry. In manufacturing and logistics, IoT is helping to automate processes and increase flexibility, in retail it is helping to customise personalised services, and in healthcare it is helping to improve the quality of patient care. However, challenges remain, including high implementation costs, cybersecurity issues, and infrastructure limitations. The findings of our study confirm that IoT not only improves operational processes but also changes business models, opening up new prospects for development. However, the successful implementation of these technologies requires addressing cybersecurity and infrastructure constraints, which requires additional investment and further research. | |
| dc.identifier.citation | The Impact of the Internet of Things on Business Models and Strategies / Stanislav Petko, Uliana Sytailo, Ihor Nazarkevych [et al.] // Pacific Business Review (International). – 2024. – Vol. 17, Iss. 5, (November). – Р. 54–67. | |
| dc.identifier.issn | 0974-438X | |
| dc.identifier.uri | https://ir.kneu.edu.ua/handle/2010/47380 | |
| dc.language.iso | en | |
| dc.subject | Intelligent Asset Management | |
| dc.subject | Digital Integration | |
| dc.subject | Supply Chain Optimisation | |
| dc.subject | Implementation of IoT Solutions | |
| dc.subject | Energy Efficiency in Business Global Business Processes | |
| dc.title | The Impact of the Internet of Things on Business Models and Strategies | |
| dc.type | Article |