The connected home: From market barriers to business model solutions

Abstract

The market for the connected homes is still immature, and there is a considerable confusion about the possible ways of their market development. Basing on a systematic review of previous studies, we analyse nine main reasons why the connected home market has so far failed to take off. We conclude that consumer misperceptions, lack of knowledge as well as the closed system architecture by most providers are the key barriers to their largescale development. We suggest that overcoming those barriers is possible by referring them to business model building blocks.