Enhancing IoT Technology Acquisition in Emerging Economies: Insights and Recommendations Using Analytical Case Study Review of IoT Startups

Mohammad Tondro (), Mohammad Jahanbakht and Dervis Ozay
Additional contact information
Mohammad Tondro: Industrial, Manufacturing and Systems Engineering (IMSE) Department, University of Texas at Arlington, Arlington, TX 76019, USA
Mohammad Jahanbakht: Graduate School of Management and Economics, Sharif University of Technology, Tehran P.O. Box 11365-8639, Iran
Dervis Ozay: Industrial, Manufacturing and Systems Engineering (IMSE) Department, University of Texas at Arlington, Arlington, TX 76019, USA

Businesses, 2025, vol. 5, issue 2, 1-25

Abstract: The rapid growth of the Internet of Things (IoT) presents emerging economies with an invaluable opportunity to reshape their market standings and reach a competitive advantage. Nonetheless, the acquisition and development of IoT technologies poses significant challenges for businesses in these areas. This study explores the factors affecting IoT technology acquisition and advancement by smart mobility businesses in this market. Through a review of literature and case studies, the research identifies key strategies and their characteristics. We focus on critical factors such as infrastructure constraints, technology acquisition, regulatory frameworks, business structures, and strategic alliances by analyzing related startups engaged in IoT products and services, each with distinct features. Additionally, this research utilizes the Capability Maturity Model to evaluate and enhance technological capabilities and business processes according to their readiness levels. Based on the results obtained, we emphasize the necessity of approaches tailored to specific needs and obstacles. Employing a mixed-methods approach, including conceptual studies, thematic analysis, interviews, questionnaires, and advanced machine learning techniques, the study sheds light on the strategic decisions, technological trends, and achievements of IoT-focused businesses. Therefore, it underscores the importance of recognizing technological trends and the pivotal role of data-driven analytics in strategic decision-making for technology adoption.

Keywords: technology acquisition; startup businesses; technology readiness level (TRL); internet of things (IoT); capability maturity model (CMM); emerging economy markets (search for similar items in EconPapers)
JEL-codes: A1 D0 D4 D6 D7 D8 D9 E0 E2 E3 E4 E5 E6 E7 F0 F2 F3 F4 F5 F6 G0 G1 G2 H0 J0 K2 L0 L1 L2 M0 M1 M2 M3 M4 M5 N0 N1 N2 O0 O1 P0 (search for similar items in EconPapers)
Date: 2025
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2673-7116/5/2/20/pdf (application/pdf)
https://www.mdpi.com/2673-7116/5/2/20/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jbusin:v:5:y:2025:i:2:p:20-:d:1638958

Access Statistics for this article

Businesses is currently edited by Dr. Patrick Han

More articles in Businesses from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().