Various Business Models in the Applications of Internet of Things

The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. A business model is the plan implemented by a company to generate revenue and make a profit from operations. This papers deals with how IoT is applied in various domains and business environment like, Intelligent Transportation, Smart Clothing, Smart Grids, Education, Environment Observation, Forecasting and Protection, Health Care Smart Homes/Buildings and Monitoring and Public Safety. Also discussed the various business models like, Service based business model parameters, Components and business model pattern in IoT. Citation: Mr. V. Neethidevan , Dr. G. Chandrasekaran. "Various Business Models in the Applications of Internet of Things." Global Research and Development Journal For Engineering 5.5 (2020): 9 - 14.