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3.6 Four Aspects in your Business to Master IoT 183
Business Innovations
Weaving smart things, enterprises, and
people leads to innovation in services and
business models.
Market Disruptions
Players of different industries compete and
cooperate in new market segments leading to
business ecosystems linked to communities.
People Competences
Software and system competencies linked to
deep domain knowledge and enlightened with
creativity are the core for innovation in
technology and business.
Technology Advances
Internet technologies offer a platform to interconnect
billions of things. Open Source
communities accelerate the development and
implementation of standards.
Fig. 3.15 Internet of Things & Services four dimensions.
new segments leading to business ecosystems that are linked to
social communities (e.g., Google+) and open source communities
(e.g., Eclipse).
• Competencies: Software and system competencies linked to deep
domain knowledge and enlightened with creativity are the core for
innovation in technology and business.
3.6.3 Vertical Business Domains for IoT
The value of the Internet of Things & Services technology is delivered in
vertical application domains. There are many hot candidates to be early movers
such as connected energy and connected industry.
3.6.3.1 Connected energy
We are currently witnessing a paradigm shift in today’s energy market. From
the dogma of a production structure with large power plants to a world of
many small, distributed power generation systems. Low voltage networks are
especially affected by these changes and are facing new challenges. Today, the
many distributed power generation systems are connected to the low voltage
grid, but not transparently. Consequently, distribution grid operators are forced
to react instead of being able to act in order to ensure network stability.