Affiliation:
1. Villeroy & Boch, Germany
2. SAP SE, Germany
Abstract
Objects become embedded and gain the ability to communicate. The resulting information networks promise to create new business models, improve business processes, and reduce costs and risks. The massive numbers of connected things and the explosion of data generated by these things will change the way we do business forever. Connected devices are proliferating in a communicating and actuating network named “Internet of Things” (IoT) wherein sensors and actuators blend seamlessly with the environment around us, and the information is shared across platforms in order to develop a common operating picture (Gubi et al., 2013). The IoT digitizes the physical world and is a basis for new business models whose main objective is to integrate or connect things. This chapter outlines the key enabling technologies, drivers and business value as well as benefits and challenges.
Reference82 articles.
1. Andrews, C., El-Attrash, F., Jarvis, E., Johnson, N., & Moss, H. (n.d.). The Internet of Things: What IoT means for the public sector. Retrieved from GovLoop: http://www.isaca.org/Groups/Professional-English/cybersecurity/GroupDocuments/IoT%20in%20the%20Public%20Sector.pdf
2. That ‘internet of things’ thing.;K.Ashton;RFiD Journal,2009
3. The Internet of Things: A survey
4. Internet of Things: Applications and Challenges in Technology and Standardization
5. Bechtel, C., & Jayaram, J. (1997). Supply chain management: a strategic perspective. The International Journal of Logistics Management, 8(1), 15-34.