The Internet of Things: Enabling Opportunities and Challenges

Abstract

There is much market hype about the potential of IoT to transform firms and industries. Taking perspective of actors in the quadruple helix-industry, government, universities and end users-we consider the enabling opportunities and challenges that IoT brings. Enabling opportunities for firms include firm purpose reconfiguration, competitive disruption and market dominance, value reconfiguration, value creation and business models environmental and customer insights and ecosystem integration. Regulation, infrastructural investment and capacity, societal awareness and adoption, entrepreneurial ecosystem development are challenges that IoT brings to quadruple helix actors. The chapter concludes by discussing the implications of IoT for these actors.