Business Models for the Internet of Things and the Cloud in an Industrial Environment

Technological paradigms have always been shifting. Nowadays ever so much, and even more, faster. Increasing computational power, reduced size and enhanced connectivity capabilities of the new devices has ushered in a new technological era. Through the ever increasing integration of the cloud into the industrial landscape and the vast amounts of data generated through connected devices and their respective sensors, we see the rise of a new currency - information, that is subjectively of value no less than that of money. In this paper we explore how the incorporation of the cloud and the internet of things into the industrial sector has affected business models. We take a look into how existing business models have changed, what new models have arisen and how the access to vast amounts of monitoring data is disrupting value chains and reshaping the industrial landscapes.