Quantifying the Economic and Financial Viability of NB-IoT and LoRaWAN Technologies: A Comprehensive Life Cycle Cost Analysis Using Pragmatic Computational Tools
This paper focuses on quantifying the economic and financial viability of NB-IoT and LoRaWAN technologies, two low-power wide-area network (LPWAN) technologies with unique characteristics that make them suitable for IoT applications. The purpose of this study is to propose a “pragmatic” artifact for...
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-07-01
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| Series: | FinTech |
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| Online Access: | https://www.mdpi.com/2674-1032/2/3/29 |
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| author | Bernhard Koelmel Max Borsch Rebecca Bulander Lukas Waidelich Tanja Brugger Ansgar Kuehn Matthias Weyer Luc Schmerber Michael Krutwig |
| author_facet | Bernhard Koelmel Max Borsch Rebecca Bulander Lukas Waidelich Tanja Brugger Ansgar Kuehn Matthias Weyer Luc Schmerber Michael Krutwig |
| author_sort | Bernhard Koelmel |
| collection | DOAJ |
| description | This paper focuses on quantifying the economic and financial viability of NB-IoT and LoRaWAN technologies, two low-power wide-area network (LPWAN) technologies with unique characteristics that make them suitable for IoT applications. The purpose of this study is to propose a “pragmatic” artifact for performing life cycle cost analysis and demonstrate its application to these technologies. The methodology uses pragmatic computational tools to facilitate the analysis and considers all relevant economic and financial factors, such as operating costs, equipment costs, and revenue potential. The main finding of this study is that Narrow Band-Internet of Things (NB-IoT) and Long Range Wide Area Network (LoRaWAN) technologies have different cost structures and revenue potentials, which may affect their economic and financial viability for different IoT applications. Ultimately, the study concludes that a comprehensive life cycle cost analysis is critical to making informed decisions about technology adoption, and that the proposed methodology can be applied to other IoT technologies to gain insight into their economic and financial viability. |
| first_indexed | 2024-03-10T22:46:32Z |
| format | Article |
| id | doaj.art-a93c7956ef864d73bbbf778f17dae8af |
| institution | Directory Open Access Journal |
| issn | 2674-1032 |
| language | English |
| last_indexed | 2024-03-10T22:46:32Z |
| publishDate | 2023-07-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | FinTech |
| spelling | doaj.art-a93c7956ef864d73bbbf778f17dae8af2023-11-19T10:39:48ZengMDPI AGFinTech2674-10322023-07-012351052610.3390/fintech2030029Quantifying the Economic and Financial Viability of NB-IoT and LoRaWAN Technologies: A Comprehensive Life Cycle Cost Analysis Using Pragmatic Computational ToolsBernhard Koelmel0Max Borsch1Rebecca Bulander2Lukas Waidelich3Tanja Brugger4Ansgar Kuehn5Matthias Weyer6Luc Schmerber7Michael Krutwig8School of Engineering, Industrial Engineering, Pforzheim University, 75175 Pforzheim, GermanyWirtschaftsförderung Nordschwarzwald, 75172 Pforzheim, GermanySchool of Engineering, Industrial Engineering, Pforzheim University, 75175 Pforzheim, GermanySchool of Engineering, Industrial Engineering, Pforzheim University, 75175 Pforzheim, GermanySchool of Engineering, Industrial Engineering, Pforzheim University, 75175 Pforzheim, GermanySchool of Engineering, Industrial Engineering, Pforzheim University, 75175 Pforzheim, GermanySchool of Engineering, Industrial Engineering, Pforzheim University, 75175 Pforzheim, GermanyLuc Schmerber, 76199 Karlsruhe, GermanyKrumedia GmbH, 76199 Karlsruhe, GermanyThis paper focuses on quantifying the economic and financial viability of NB-IoT and LoRaWAN technologies, two low-power wide-area network (LPWAN) technologies with unique characteristics that make them suitable for IoT applications. The purpose of this study is to propose a “pragmatic” artifact for performing life cycle cost analysis and demonstrate its application to these technologies. The methodology uses pragmatic computational tools to facilitate the analysis and considers all relevant economic and financial factors, such as operating costs, equipment costs, and revenue potential. The main finding of this study is that Narrow Band-Internet of Things (NB-IoT) and Long Range Wide Area Network (LoRaWAN) technologies have different cost structures and revenue potentials, which may affect their economic and financial viability for different IoT applications. Ultimately, the study concludes that a comprehensive life cycle cost analysis is critical to making informed decisions about technology adoption, and that the proposed methodology can be applied to other IoT technologies to gain insight into their economic and financial viability.https://www.mdpi.com/2674-1032/2/3/29financial viabilitylife cycle cost analysisLPWANpragmatic computational toolsdesign science researchdata-driven decision making |
| spellingShingle | Bernhard Koelmel Max Borsch Rebecca Bulander Lukas Waidelich Tanja Brugger Ansgar Kuehn Matthias Weyer Luc Schmerber Michael Krutwig Quantifying the Economic and Financial Viability of NB-IoT and LoRaWAN Technologies: A Comprehensive Life Cycle Cost Analysis Using Pragmatic Computational Tools FinTech financial viability life cycle cost analysis LPWAN pragmatic computational tools design science research data-driven decision making |
| title | Quantifying the Economic and Financial Viability of NB-IoT and LoRaWAN Technologies: A Comprehensive Life Cycle Cost Analysis Using Pragmatic Computational Tools |
| title_full | Quantifying the Economic and Financial Viability of NB-IoT and LoRaWAN Technologies: A Comprehensive Life Cycle Cost Analysis Using Pragmatic Computational Tools |
| title_fullStr | Quantifying the Economic and Financial Viability of NB-IoT and LoRaWAN Technologies: A Comprehensive Life Cycle Cost Analysis Using Pragmatic Computational Tools |
| title_full_unstemmed | Quantifying the Economic and Financial Viability of NB-IoT and LoRaWAN Technologies: A Comprehensive Life Cycle Cost Analysis Using Pragmatic Computational Tools |
| title_short | Quantifying the Economic and Financial Viability of NB-IoT and LoRaWAN Technologies: A Comprehensive Life Cycle Cost Analysis Using Pragmatic Computational Tools |
| title_sort | quantifying the economic and financial viability of nb iot and lorawan technologies a comprehensive life cycle cost analysis using pragmatic computational tools |
| topic | financial viability life cycle cost analysis LPWAN pragmatic computational tools design science research data-driven decision making |
| url | https://www.mdpi.com/2674-1032/2/3/29 |
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