IMPLEMENTATION OF SMART IOT TECHNOLOGIES ON THE BULGARIAN MARKET - AN INNOVATIVE APPROACH FOR ECONOMIC SUSTAINABILITY AND ENVIRONMENTAL BENEFITS
IMPLEMENTATION OF SMART IOT TECHNOLOGIES ON THE BULGARIAN MARKET - AN INNOVATIVE APPROACH FOR ECONOMIC SUSTAINABILITY AND ENVIRONMENTAL BENEFITS

Summary/Abstract: The article presents opportunities for implementing an innovative entrepreneurial model, based on IoT technologies in the context of the Bulgarian urban environment. The focus is on “smart poles” that use existing urban infrastructure (street lighting), additionally equipped with smart modules and sensors. The presented approach considers economic sustainability and environmental benefits such as reducing energy costs, optimizing urban processes and creating new opportunities for entrepreneurial activity, without significant initial investments in new infrastructure. The article examines in detail the theoretical context of IoT technologies and the specifics of the Bulgarian market, and highlights the potential economic benefits, improved efficiency in infrastructure management and opportunities for new business models. Environmental benefits include a significant reduction in carbon footprint, optimization of energy and resource consumption. Key potential customer segments have been identified, including city administrations, public and private organizations responsible for infrastructure and utility management, smart building companies, utility providers, and private technology entrepreneurs. The proposed model is distinguished by its flexibility, making it suitable for both large urban municipalities and smaller settlements striving for sustainable development. An empirical study is proposed, including a quantitative method, which aims to assess market needs, readiness for technology adoption, and expected benefits. The scientific novelty of the study lies in the development of an entrepreneurial IoT business model adapted for Bulgaria, which provides concrete solutions for sustainable urban development and economic improvement, while at the same time addressing current global environmental challenges.

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