Contrasting value creation strategies of industrial-IoT-platforms-a multiple case study

Previous platform research has drawn attention primarily to digital consumer platforms, ignoring the specificities of industrial settings. Hence, existing research findings fall short regarding Industrial Internet-of-Things Plat-forms (IIoTP), which leads to an incomplete understanding of digital platforms. Particularly, IIoTPs from Internet technology firms (Hyperscalers) and incumbent industrial firms (Integrated IIoTPs) deserve special interest due to their coopetitive relationships. Addressing this research need, the study applies explorative multiple case study research to five of these IIoTPs, by analyzing 22 interviews, to describe this phenomenon in-depth in its contextual conditions. As a result, the authors empirically derive, based on existing frameworks and classifica-tions, (1) which strategic measures are needed for a successful evolvement, and (2) which dynamic strategic trajectories occur. We report several findings. First, this study contributes to the literature by showing that existing theories of digital platforms are fertile ground for further and more nuanced empirical research. Second, through the linkage of five strategic measures to the dominant value creation logics, the authors provide important contextualization on different vertical platform layers. Third, the study offers IIoTP managers insights by identifying dynamic strategic trajectories that reveal Hyperscalers are in the best position to profit from innovation, thereby reversing the common notion that downstream positioning is a prerequisite for success.