Futures business models of an Internet of Things (IoT) enabled healthcare sector

This research is a qualitative case study analyzing probable business models for the future Internet of Things (IoT) enabled healthcare sector. To look at the future, this study utilizes the prominent futures research method, Causal Layered Analysis (CLA). This study combines business model and CLA to test the applicability of business model as a potential futures business research tool. In doing so, this study chose to understand the futures of a tech aided social context; the IoT enabled healthcare sector. This thesis offers extensive theoretical understanding on business models, Internet of Things, mHealth, eHealth, futures studies and Causal Layered Analysis (CLA). Grounded literature review has enabled the author to collect a high quality dataset. Based on five individual interviews with seasoned campaigners from the IoT/healthcare industry, author developed three linear futures scenario; they are: the ploughed field scenario (short-term future), the breaking dawn scenario (medium-term future) and the ant super-colony scenario (long-term future). Each of the scenario is created with a CLA framework presenting the four layers: litany, social causes, worldview and myth. Analyzing the scenarios author provides a detailed discussion on different business model elements for the IoT enabled healthcare sector in Finland. This discussion also presents several business opportunities for the futures market. Additionally, this study uncovers several social and global trends that are impacting the sector considerably. Success of this sector can foster significantly if policy makers consider these social and global issues in strategy development for the society. This research presents three different sets of business model elements for different time frames in the future. Additionally, author presents a simple conceptual framework for the business ecosystem for the IoT enabled healthcare sector in Finland. Important notion about this research, it is the first attempt to combine business models with a futures research methodology to speculate an industry’s future. All in all, with solid theoretical base, high quality & a smart quantity of empirical dataset, well-argued results and maintained ethical standards, this study offers a comprehensive description of the studied topic