{"id":2559,"date":"2017-09-27T10:04:34","date_gmt":"2017-09-27T08:04:34","guid":{"rendered":"https:\/\/blog.microtronics.at\/?p=2559"},"modified":"2021-11-22T12:05:04","modified_gmt":"2021-11-22T11:05:04","slug":"smart-connected-products-new-business-era","status":"publish","type":"post","link":"https:\/\/microtronics.com\/en\/blog-en\/smart-connected-products-new-business-era\/","title":{"rendered":"With smart, connected products into a new business era"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Smart, connected products open up completely new possibilities of value creation as a result of their significantly expanded functionality compared to traditional products. They change the rules of competition and thus enable companies to rethink their existing business models. <sup id=\"ref1\"><a href=\"#zitat1\">[1]<\/a><\/sup><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><a href=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/sunrise-aufbruch.jpg\"><img fetchpriority=\"high\" decoding=\"async\" width=\"640\" height=\"320\" src=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/sunrise-aufbruch.jpg\" alt=\"Sunrise Aufbruch\" class=\"wp-image-2556\" srcset=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/sunrise-aufbruch.jpg 640w, https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/sunrise-aufbruch-150x75.jpg 150w, https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/sunrise-aufbruch-300x150.jpg 300w, https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/sunrise-aufbruch-600x300.jpg 600w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-start-of-a-new-business-era\">Start of a new business era<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The steady increase in the available computing power combined with low energy requirements, the advancing miniaturisation and the diverse technologies of wireless networking led to radical product innovations. Products previously were exclusively made of electrical and mechanical components. Nowadays they are developed into ever more complex systems that combine, sensors, data storage, microprocessors and network components.<sup id=\"ref1\"><a href=\"#zitat1\">[1]<\/a><\/sup><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright\"><a href=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/intelligent-vernetzte-produkte.jpg\"><img decoding=\"async\" width=\"357\" height=\"267\" src=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/intelligent-vernetzte-produkte.jpg\" alt=\"Intelligent, vernetztes Produkt\" class=\"wp-image-2554\" srcset=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/intelligent-vernetzte-produkte.jpg 357w, https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/intelligent-vernetzte-produkte-300x224.jpg 300w\" sizes=\"(max-width: 357px) 100vw, 357px\" \/><\/a><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">These \u201csmart, connected products\u201d arise as a result of their increased scope of functions, creating completely new opportunities for value creation, changing the rules of competition and thus encouraging companies to rethink their existing business models.<sup id=\"ref1\"><a href=\"#zitat1\">[1]<\/a><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Companies are faced with the challenge of managing the vast amount of data that is now available, and, in some cases, highly sensitive. Another challenge is to generate new revenue streams.<sup id=\"ref2\"><a href=\"#zitat2\">[2]<\/a><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Unlike traditional products smart, intelligent products (for example through software updates) continue to evolve long after they have taken up their service at the customer. Thus, the relationship between a company and its customers is changing.<sup id=\"ref2\"><a href=\"#zitat2\">[2]<\/a><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Although companies are still at the beginning of the development of products that support and\/or operate autonomously, the potential of these smart, connect products is already revolutionising the respective markets and it is generally expected that their era will begin in the near future.<sup id=\"ref3\"><a href=\"#zitat3\">[3]<\/a><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Gartner, one of the world\u2019s leading market research and consulting firms in information technology, is forecasting a total of 6.4 billion smart, connected products worldwide for 2016, which will grow to 20.8 billion by 2020.<sup id=\"ref4\"><a href=\"#zitat4\">[4]<\/a><\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-internet-of-things\">The Internet of Things<\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright\"><a href=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/connected.jpg\"><img decoding=\"async\" width=\"330\" height=\"241\" src=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/connected.jpg\" alt=\"Vernetzte Welt\" class=\"wp-image-2553\" srcset=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/connected.jpg 330w, https:\/\/microtronics.com\/wp-content\/uploads\/2017\/09\/connected-300x219.jpg 300w\" sizes=\"(max-width: 330px) 100vw, 330px\" \/><\/a><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">The Internet of Things (IoT) concept has been designed to investigate the increasing number of these smart, connected products and the new possibilities involved.<sup id=\"ref5\"><a href=\"#zitat5\">[5]<\/a><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It should be noted that it is not the \u201cinternet\u201d, but the fundamental change in the nature of the \u201cthings\u201d. Their extended range of functions and the data generated by them paves the way for a new era of competition. The internet, in this context, is only a mechanism for the transport of information whether it is generated by humans or machines.<sup id=\"ref5\"><a href=\"#zitat5\">[5]<\/a><\/sup><sup id=\"ref5\"><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For companies, it is crucial not to focus on the specific technologies, but to pay particular attention to the changes in competition caused by this new product category.<sup id=\"ref5\"><a href=\"#zitat5\">[5]<\/a><\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-opportunities-for-your-business-model\">Opportunities for your business model<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Use smart, connected products for your business model. Offer new features to your customers, generate new revenue streams, gain insights into user behavior and increase customer loyalty. These are just a few opportunities that the Internet of Things offers for you.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Action instead of reaction is the motto. Microtronics develops and operates complete IoT solutions. In a free of charge meeting Microtronics will explore the potential for your business model together with you.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-references-list\">References list<\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li id=\"zitat1\"><a href=\"#ref1\">\u2191<\/a> Porter, M. E., &amp; Heppelmann, J. E. (2014, November). How Smart, Connected Products Are Transforming Competition. Harvard Business Review, S. 66<\/li><li id=\"zitat2\"><a href=\"#ref2\">\u2191<\/a> Porter, M. E., &amp; Heppelmann, J. E. (2015, Oktober). How Smart, Connected Products Are Transforming Companies. Harvard Business Review, S. 98<\/li><li id=\"zitat3\"><a href=\"#ref3\">\u2191<\/a> Dawid, H., Decker, R., Hermann, T., Jahnke, H., Klat, W., K\u00f6nig, R., &amp; Stummer, C. (2016). Management science in the era of smart consumer products: challenges and research perspectives. Central European Journal of Operations Research. https:\/\/link.springer.com\/article\/10.1007%2Fs10100-016-0436-9, S. 2<\/li><li id=\"zitat4\"><a href=\"#ref4\">\u2191<\/a> van der Meulen, R. (2015, November). Gartner Says 6.4 Billion Connected \u201eThings\u201c Will Be in Use in 2016, Up 30 Percent From 2015. Abgerufen 28. Februar 2016, von<\/li><li id=\"zitat5\"><a href=\"#ref5\">\u2191<\/a> Porter, M. E., &amp; Heppelmann, J. E. (2014, November). How Smart, Connected Products Are Transforming Competition. Harvard Business Review, S. 66<\/li><\/ol>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<h2 class=\"wp-block-heading\">Series: Moving into a new business era with smart, connected products<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Part 1: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/smart-connected-products-new-business-era\/\">Introduction<\/a><br\/>Part 2: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/importance-business-model-innovation\/\">The importance of business model innovation<\/a><br\/>Part 3: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/laying-foundation-strategic-decisions\/\">Laying the foundation through strategic decisions<\/a><br\/>Part 4: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/break-the-valid-industry-logic-with-smart-connected-products\/\">Breaking the valid industry logic<\/a><br\/>Part 5: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/5-value-creation-layers-for-an-iot-application\/\">5 value stages of an IoT application<\/a><br\/>Part 6: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/transformation-of-the-value-chain\/\">Transforming the value chain<\/a><br\/>Part 7: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/the-value-generation-of-things-in-the-internet-of-things\/\">The value generation of things in the Internet of Things<\/a><br\/>Part 8: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/fundamental-design-of-smart-connected-products\/\">Fundamental design of smart, connected products<\/a><br\/>Part 9: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/requirements-for-the-technological-infrastructure\/\">Requirements for the technological infrastructure in the Internet of Things<\/a><br\/>Part10: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/creating-added-value-by-advancing-to-smart-products\/\">Creating added value by advancing to smart products<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Smart, connected products open up completely new possibilities of value creation as a result of their significantly expanded functionality compared to traditional products. They change the rules of competition and thus enable companies to rethink their existing business models. [1] Start of a new business era The steady increase in the available computing power combined [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[764,767],"tags":[],"class_list":["post-2559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-en","category-strategy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.3 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>With smart, connected products into a new business era - Microtronics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microtronics.com\/en\/blog-en\/smart-connected-products-new-business-era\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"With smart, connected products into a new business era\" \/>\n<meta property=\"og:description\" content=\"Smart, connected products open up completely new possibilities of value creation as a result of their significantly expanded functionality compared to traditional products. 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