Smart home to provide various automated services based on the Internet of Things for residents should design a new value of residential space by connecting various services through an integrated platform. However, there are few studies highlighting the value-based network in the smart home industry yet. Therefore, this study finds determinants of a value-based network (rather than an actor-based network) within smart home industries, conducting logistic and negative binomial regressions with survey data of 300 firms in the Korean SHOME industry. This study proposes an evolved innovation system for SHOME industry, based on a value-based innovation system. The results of this study suggest the effects of each value group network and value network on open innovation in SHOME industry and their implications.
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