A life cycle cost analysis method accelerating IoT implementation in SMEs

Yuya Mitake*, Yusuke Tsutsui, Salman Alfarihi, Mar'Atus Sholihah, Yoshiki Shimomura

*Corresponding author for this work

Research output: Contribution to journalConference articlepeer-review

4 Citations (Scopus)


The implementation of Internet of Things (IoT) technology in the manufacturing industry is continuing to grow, as shown by the extensive research, development, and standardization regarding IoT technology. However, a deficiency of IoT-related knowledge and experience is still a serious barrier to decision-making in IoT implementation, especially in small and medium enterprises (SMEs). This study develops a method to clarify the impact of IoT implementation on life cycle costs to support decision-making of IoT implementation in SMEs. The results demonstrated that the proposed method can foster an understanding of the economic impacts of the IoT implementation through the calculation of return on investment.

Original languageEnglish
Pages (from-to)1424-1429
Number of pages6
JournalProcedia CIRP
Publication statusPublished - 2021
Event54th CIRP Conference on Manufacturing Ssystems, CMS 2021 - Patras, Greece
Duration: 22 Sept 202124 Sept 2021


  • IoT
  • SMEs
  • decision making support
  • life cycle cost


Dive into the research topics of 'A life cycle cost analysis method accelerating IoT implementation in SMEs'. Together they form a unique fingerprint.

Cite this