A Review on Service Business Model Using IoT

Abstract

The connected devices have become an important element for businesses as it provides significant innovation in business model. This paper discusses on the different business models which contributed to the values of businesses. As for the vertical business model, we have learned that different types of integration can be applied to other companies and manufacturers as a method to access the resources needed for the development of a product. By using a vertical business model, companies are able to control its suppliers and retail location directly without any external influence. As such, it provides greater flexibility and control in the overall business operations.