Upcoming Services Innovation for the Home Energy Management System in Korea
Smart grid technology is developed to be commercialized globally, and expected to be utilized at home, named as home energy management system. Despite of its promising marketability, innovative business models are not well-structured and service design methods have limitations on integration for ser...
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doaj-4db76d437fa8409fab8265a405b24f112020-11-25T03:16:57ZengMDPI AGSustainability2071-10502020-09-01127261726110.3390/su12187261Upcoming Services Innovation for the Home Energy Management System in KoreaHyeog-in Kwon0Ju-ho Kim1Moo-goong Hong2Eui-jin Park3School of Business Administration, Chung-Ang University, Seoul 06974, KoreaDepartment of Arts and Cultural Management, Graduate School, Chung-Ang University, Seoul 06974, KoreaPolicy Finance Team, Policy Division, Korea Creative Content Agency, Jeollanam-do 58326, KoreaDepartment of Arts and Cultural Management, Graduate School, Chung-Ang University, Seoul 06974, KoreaSmart grid technology is developed to be commercialized globally, and expected to be utilized at home, named as home energy management system. Despite of its promising marketability, innovative business models are not well-structured and service design methods have limitations on integration for service innovation. Hence, this study employs service-dominant logic to innovate the industry, and introduces the holistic method consisting of service, ecosystem, platform, and strategy. Firstly, it identifies the pain points, and the expected services are arranged using an importance–performance analysis method. Then, the extended ecosystem is defined in three layers perspectives. In addition, the use-case method is used to demonstrate the relationships between the supplier and users on platform. Finally, integrating customers’ needs results in two business models: (i) Home Energy management Model and (ii) Home Care Model. This research not only suggests innovative business models in the home energy market, but also supplements the procedure for designing innovative services and applies it with qualitative and quantitative investigation. To the end, it shed light on the direction and way to actualize future Home Energy Management System (HEMS) market.https://www.mdpi.com/2071-1050/12/18/7261home energy management systemsmart homeservice innovationservice-dominant logicsustainable business model |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Hyeog-in Kwon Ju-ho Kim Moo-goong Hong Eui-jin Park |
spellingShingle |
Hyeog-in Kwon Ju-ho Kim Moo-goong Hong Eui-jin Park Upcoming Services Innovation for the Home Energy Management System in Korea Sustainability home energy management system smart home service innovation service-dominant logic sustainable business model |
author_facet |
Hyeog-in Kwon Ju-ho Kim Moo-goong Hong Eui-jin Park |
author_sort |
Hyeog-in Kwon |
title |
Upcoming Services Innovation for the Home Energy Management System in Korea |
title_short |
Upcoming Services Innovation for the Home Energy Management System in Korea |
title_full |
Upcoming Services Innovation for the Home Energy Management System in Korea |
title_fullStr |
Upcoming Services Innovation for the Home Energy Management System in Korea |
title_full_unstemmed |
Upcoming Services Innovation for the Home Energy Management System in Korea |
title_sort |
upcoming services innovation for the home energy management system in korea |
publisher |
MDPI AG |
series |
Sustainability |
issn |
2071-1050 |
publishDate |
2020-09-01 |
description |
Smart grid technology is developed to be commercialized globally, and expected to be utilized at home, named as home energy management system. Despite of its promising marketability, innovative business models are not well-structured and service design methods have limitations on integration for service innovation. Hence, this study employs service-dominant logic to innovate the industry, and introduces the holistic method consisting of service, ecosystem, platform, and strategy. Firstly, it identifies the pain points, and the expected services are arranged using an importance–performance analysis method. Then, the extended ecosystem is defined in three layers perspectives. In addition, the use-case method is used to demonstrate the relationships between the supplier and users on platform. Finally, integrating customers’ needs results in two business models: (i) Home Energy management Model and (ii) Home Care Model. This research not only suggests innovative business models in the home energy market, but also supplements the procedure for designing innovative services and applies it with qualitative and quantitative investigation. To the end, it shed light on the direction and way to actualize future Home Energy Management System (HEMS) market. |
topic |
home energy management system smart home service innovation service-dominant logic sustainable business model |
url |
https://www.mdpi.com/2071-1050/12/18/7261 |
work_keys_str_mv |
AT hyeoginkwon upcomingservicesinnovationforthehomeenergymanagementsysteminkorea AT juhokim upcomingservicesinnovationforthehomeenergymanagementsysteminkorea AT moogoonghong upcomingservicesinnovationforthehomeenergymanagementsysteminkorea AT euijinpark upcomingservicesinnovationforthehomeenergymanagementsysteminkorea |
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