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Industry 4.0 is expected to significantly transform industrial value creation. However, research on business models affected through Industry 4.0, and on small- and medium-sized enterprises (SMEs), remains scarce. In response, the purpose of this paper is to address both aspects, further elaborating on the role that SMEs can take toward Industry 4.0 as provider or user.

The paper used an exploratory research design based on 43 in-depth expert interviews within the three most important German industry sectors, mechanical and plant engineering, electrical engineering and automotive suppliers. Interviews were conducted with leading personnel of the respective enterprises, including 22 CEOs. They assign business model implications through Industry 4.0, referring to the Business Model Canvas, while the paper delineates between Industry 4.0 providers and users.

The paper finds that key resources and value proposition are among the most affected elements of the business model, whereas channels are the least affected. Furthermore, distinct characteristics between Industry 4.0 providers and users can be delineated. In general, Industry 4.0 providers’ business models are significantly more affected than users, except for key partners and customer relationships.

Industry 4.0 remains at its early stages of implementation. As a result, many interviewees’ answers remain at a rather general level.

Strategies for the further alignment of the business models are provided for Industry 4.0 providers and users.

The paper is among the few that investigate Industry 4.0 in the context of SMEs and business models.

While there are several readiness assessments regarding digital transformation (DT) and Industry 4.0 in extant literature, this study aims to contribute to (a) a better understanding of digital readiness in supply chain (SC) aspects and (b) elaborate on differences between small and medium-sized enterprises (SMEs) and large enterprises.

The study is based on 409 companies that participated in the Digital Readiness Check (DRC) in the region of Salzburg (Austria) and Bavaria (Germany) – an online assessment for self-evaluating the digital readiness of companies.

The study's results provide insights for the categories of strategy, employees, initiation of business transactions and SC. These are further differentiated for SMEs and large enterprises.

The study is limited to two regions in Austria and Germany, based on a self-evaluation of companies in a single point of time perspective. For future research, the results of this study should be expanded for different regions. Further, the results could be validated regarding external observations and measuring results at a later point of time.

The DRC may help companies in benchmarking themselves and gaining a better understanding about categories that must be improved, especially regarding SC aspects of DT.

The DRC extends extant literature regarding the differentiation between SMEs and large enterprises as well as focussing on SC aspects of DT.

This study analyzes how technological changes in the context of Industry 4.0 influence buyer-supplier relationships (BSRs).

The study is explorative in nature; hence, an empirical qualitative research design is applied. It bases on 45 expert interviews with managers from German and Austrian industrial companies as empirical data. A qualitative content analysis is conducted to inductively analyze the empirical material and to identify common patterns, themes and categories.

The paper finds that future transactions are mainly based on digitized, automated procedures, transferring various value creation processes to platforms. BSRs become more intense in nature. Companies consolidate their supplier base by focusing on important strategic suppliers.

As the paper is of exploratory nature, it can only present first qualitative insights. Further studies can extend the results by analyzing and contrasting BSRs in various industries or value chain stages and map differences and similarities, respectively.

The paper's results provide implications for management and corporate practice alike. These help companies to raise Industry 4.0's full potential as for BSRs creating and securing long-term and sustainable competitive advantages.

This paper is among the first to empirically investigate BSRs in the context of Industry 4.0. Providing implications for research and corporate practice, it contributes to tapping Industry 4.0's full potential complementing an extra-organizational perspective.

Industry 4.0 is assumed to yield extensive industry-spanning opportunities. However, exploiting these opportunities requires a targeted implementation of Industry 4.0. The purpose of this paper is to generate a deeper understanding of relevant implementation action. Existing recommendations are mostly general, highly aggregated and difficult to grasp. Yet, specific and concrete actions that need to be taken to accelerate the realization of Industry 4.0 are essential.

The article uses 13 semi-structured in-depth expert interviews as the source of empirical data. The interviews were conducted with managers from Industry 4.0-experienced German manufacturing companies. All interviews are analyzed using qualitative content analysis.

The study reveals relevant and targeted aspects for Industry 4.0 implementation: the development of Industry 4.0-specific know-how, securing financial resources, integrating employees into the implementation process and establishing an open-minded and flexible corporate culture. Further aspects include comprehensive planning processes, cooperation with external partners, proper handling of data interfaces, interdisciplinary communication, an adaptable organizational structure and data security.

The paper is limited to German manufacturing enterprises and should be transferred to other industries and countries.

The study supports managers to effectively implement Industry 4.0 within their organizations and consequently benefit from Industry 4.0 and derives recommendations for future research.

The paper is among the first to give specific and concrete examples for lessons learned from Industry 4.0 implementation, directly obtained from industrial application.

This study comprehensively reviews the Fourth Industrial Revolution, which refers to Industry 4.0 (IR 4.0) applications in small and medium enterprises (SMEs). Multinational companies and big corporations have the capacity and resources to implement IR 4.0, but SMEs are limited due to financial constraints, expertise and lack of resources. Even so, IR 4.0 is required as technologies evolve and market demand has changed how firms do business.

To uncover the potential of IR 4.0 and critical determinants of SMEs’ adoption of IR 4.0, this study presents a bibliometric analysis to evaluate the current research streams in IR 4.0 adoption among SMEs through bibliographic coupling. Furthermore, this review provides a glimpse of the future by analyzing prospective trends on IR 4.0 in SMEs.

Bibliographic coupling produces five clusters: (1) challenges and barriers in IR 4.0 implementation among SMEs, (2) technological adoption of IR 4.0, (3) opportunities and benefits of IR 4.0, (4) business model innovation and (5) implication of IR 4.0 on SMEs technologies. On the contrary, co-word analysis produces three clusters: (1) technologies in IR 4.0, (2) strategy and management of IR 4.0 among SMEs and (3) IR 4.0 model for SMEs.

Implications are directly related to business owners, policymakers and technology developers meeting the needs of the industry and SMEs, which are the focus of this review.

The findings contribute significantly to the body of knowledge by presenting a state-of-the-art science mapping approach to uncover the knowledge structure and intellectual linkage of IR 4.0 adoption within SMEs.

The aim is to reveal contemporary research trends and patterns in Internet of Things (IoTs) so that social scientists who are new to the discipline may be steered towards rightful directions when examining this phenomenon.

A total of 169 IoT articles indexed in the Web of Science database were analyzed via bibliometric analysis and content analysis. The VOSViewer software was used to identify popular keywords of the IoT topics, its publication productivity, the most relevant journals, and the most prolific authors within. Content analysis was conducted manually to determine the most popular research methods used, the most frequently studied contexts, the most popular IoT application areas, the most highly examined user perspectives, and the most often employed theories.

The synthesis of both the bibliometric and content analysis results suggest the necessity of investigating the post-adoption technology usage behavior of IoT technology in developing countries, particularly in smart home. This is especially so from new landscapes using other theories or models, apart from the overwhelmed Technology Adoption Model (TAM) and its variants.

With a focus on addressing the state-of-the-art of IoT in social science, and to synthesize its future research directions systematically, this study was conducted with both bibliometric and content analysis, in order to enhance the overall analysis for higher accuracy and more reliable results.