Relevance of the Internet of Things for small and medium sized-businesses in Germany.
Why is the backbone of the German economy, struggling to come up with convincing answers to the question posed by IoT? Why is it pursuing the incremental, efficiency-focused product or manufacturing improvements rather than true innovation?
This opinion paper is based on findings from a hands-on field study within the SMEs conducted by e&Co. and the EBS University, aiming to bring some light into the various aspects of Internet of Things (and, by extension, Industry 4.0), analysing where the German SMEs face challenges in implementing real IoT business models, and illustrating an action plan to overcome them. This is not another academic study on digitalisation, but rather a field report and think-piece to inspire discussion.