Platform Economy: Converging IoT Platforms and Ecosystems

Sven Jung (), Felix Wortmann (), Wolfgang Bronner () and Oliver Gassmann ()
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Sven Jung: University of St. Gallen
Felix Wortmann: University of St. Gallen
Wolfgang Bronner: University of St. Gallen & ETH Zürich
Oliver Gassmann: University of St. Gallen

A chapter in Connected Business, 2021, pp 35-54 from Springer

Abstract: Abstract Platform companies like Airbnb, Amazon, or Google dominate our economy, and many more are on the rise to disrupt entire industries. In fact, eight of the ten most valuable companies worldwide follow a platform business model. Their success depends heavily on developing and sustaining network effects. This makes it almost inevitable for managers to analyze their own opportunities and risks in the platform economy. For traditional and product-focused companies, the Internet of Things has created new opportunities for platform business. In this article, we explain how the underlying platform mechanics work and bring together the perspectives of IoT, platform, and ecosystem. Using three successful but distinct IoT platform examples, we illustrate that platforms are not only for digital players and highlight key success factors for any practitioner looking to develop and manage an (IoT) platform.

Keywords: Platform businesses; Platform economy; IoT platforms; Platform ecosystems; Network effects (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/978-3-030-76897-3_2

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