Desirability of consumer internet of things products: how emerging businesses address consumer desires to improve user experiences

Developing desirable consumer IoT products becomes the challenge for emerging businesses. Lack of clear understanding about the functions and desirability of such products has led to a lower level of consumption than was expected. The purpose of this paper is to propose a value-based framework for product desirability, and to examine value propositions in terms of product value, product features, and user experiences by considering emerging businesses. Data from 982 companies was extracted from CrunchBase. Desired value factors, and product features companies seek the most to develop desirable products were identified. Functional value was offered more frequently than emotional value or social value. Safety, interactivity, and connectivity are the most significant features considered by companies. Companies should consider the emotional and social aspects alongside the focus given to functional aspects. The proposed framework, and the results obtained could be important for companies to develop desirable products addressing consumer preferences.