Mechanisms to develop a business model through the Internet of things: a multiple case study in manufacturing companies

Companies are looking for opportunities from digital technologies focused on transforming their operations and customer value proposition. IoT solution is a way to develop new services and business models (BM). Literature highlights that research is necessary to discover empirical patterns and tools for understanding and managing digital Innovation adopted by companies. Thus, this study aims to explore how organisations move into an Internet of things (IoT) environment by structuring new business models and offering innovative and sustainable services identifying mechanisms for deploying IoT BM. This research uses a multiple case study approach with three manufacturing organisations. The contribution of this study is the identification of mechanisms applied for developing an IoT business model. Companies altering model operations and reshaping customer value propositions for building new business models are facilitated by digital transformation. The findings provide mechanisms identified across cases: collaboration via strategic partnerships, incubator companies, acquisition of the startup, exchange knowledge/employee training, Co-innovation: interactions between actors to develop platforms and partnership with Technology Parks.