IIC Journal of Innovation 7th Edition | Page 8

I²M²—The Future of Industrial Internet Monetization the other hand, the cost of ‘intellectual’ components such as intelligent devices, smart controllers, all types of IIoT devices and software products is continuously rising. The main reason is that the development of such components depends more and more on complex software as well as extensive research whereas the physical parts (e.g. boards, displays and keyboards) are actually getting cheaper due