Cloud computing enabled business model innovation

Abstract

Cloud computing's primary layer of security is its widespread adoption by businesses due to its ability to provide easy, on-demand network access to a large pool of configurable processing resources. Pressure from developed-world governments to keep up with the latest IT trends makes it challenging for colleges around the world to adopt cloud computing in engineering education. Although cloud computing as a concept has become more popular in recent times and quite a few studies have been conducted, the adoption and application level is still very low, particularly in developing countries. This study provides a realistic framework for gauging the sustainability of a company model. While digitalization is widely acknowledged to be crucial, the study's results reveal that the perceived available options for business model innovation depend not only on the value proposition itself but also on the position in the value network. The primary goal of this research is to create a cloud computing service provider business model that is built on circular economy principles and can guarantee the sustainable usage of cloud computing resources.