Exploring the Applicability of Pattern-Based Business Model Development in the Smart Home Domain

The fast pace of technological innovation gives rise to companies with new business models. Hence, practitioners are looking for elements that make these new business models attractive. Identifying recurring business model elements in successful companies means identifying a business model pattern. Such success-driving patterns can be used to examine, improve, and create business models. Although large business model pattern collections exist, there is limited knowledge on their applicability to an emerging business domain for the purpose of studying existing companies and deriving new patterns. We explore the applicability of business model pattern collections by examining the smart home sector. As a main contribution, we provide evidence on the applicability of pattern collections and reveal limitations of using business model patterns to create new business models. Furthermore, we present novel business model patterns for the smart home domain that we identified while analyzing the applicability of pattern-based business model development.