In the last decade the world of manufacturing firms is completely changed thanks to the use
of new technologies. Internet of Things (IoT) is one of these technologies that not only has
the potential to impact how we live, but also how the businesses are being ran. Innovative
companies are adopting IoT strategies and technologies to reengineer their products and
services and redefine their relationships with customers, employees and partners.
The IoT market is exploding at a significant pace as consumers, businesses, and
governments are recognizing the benefits of connecting devices to the Internet.
The purpose of this thesis is to explore in depth the different business model utilized by
different companies, with no distinction of specific industry. Moreover, this thesis aims to
study the IoT platforms business models and to understand how these platforms change the
market competition by leveraging the IoT technologies. In order to reach this aim a
structured literature review will be performed. Then, analysing different companies by using
the business model canvas approach, three business scenarios will be identified and defined,
as follows: servitisation, lean and world manufacturing and, digital platforms for
manufacturing. Finally, it will be applied a mathematical model in order to discuss whether
and how an IoT investment can give advantage to a manufacturing firm
