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A Tool Rental Service Scenario - IoT technologies enabling a circular economy business model

Authors:
Johanna Kallio
Maria Antikainen
Outi Kettunen

Keywords: circular economy; IoT; scenario; tool rental service; sensors; networking; cloud computing; data analytics

Abstract:
Internet of Things (IoT), sensors, wireless networks, cloud computing and big data analytics are technological innovations that have the power to transform traditional businesses. These technologies can enable and accelerate a circular economy on a broader scale. We aim at providing information on how to disrupt current prevailing linear business models by employing digital data and IoT technologies. We give the reader a short overview of IoT technologies affecting the incumbents of industry. We present the current deployment of a tool rental service experiment and develop a scenario anticipating the possible future of the tool rental service. The envisioned tool rental scenario provides understanding on the effects of digital technologies and helps companies in identifying more sustainable and circular business models.

Pages: 60 to 65

Copyright: Copyright (c) IARIA, 2017

Publication date: November 12, 2017

Published in: conference

ISSN: 2308-4278

ISBN: 978-1-61208-598-2

Location: Barcelona, Spain

Dates: from November 12, 2017 to November 16, 2017