Sustainability, Journal Year: 2024, Volume and Issue: 16(20), P. 8881 - 8881

Published: Oct. 14, 2024

Climate change is a significant and urgent threat, gaining traction in the scientific community around globe requiring immediate action across many sectors. In this context, digital economy could provide mutually beneficial solution by utilizing innovation technical breakthroughs to establish sustainable future that addresses environmental deterioration, promotes economic growth, encourages energy conservation. Against background, study examined diffusion of modeling-based factors affecting small medium-sized firms’ (SMFs) adoption Internet Things (IoT) technology its impact on SMFs’ sustainability performance related environmental, economic, innovation, conservation perspectives. The key findings revealed (i) relative advantage, trialability, observability drive IoT adoption. However, compatibility complexity hinder (ii) When prioritizing factors, benefit strongest driver, most barrier (iii) adopter SMFs spent less natural resources more renewable monitoring systems than non-adopter firms, boosting their sustainability. (iv) firms had greater revenue, profits, credit access non-adopters lower input costs, improving (v) innovative products enterprises, demonstrating performance. (vi) Compared utility expenses energy-efficient technologies. (vii) To realize full potential for inventive future, authorities may pursue variety policy actions involving strengthening implementation standards regulations, securing incentivization financial SMFs, diverting allocation research development avenues, capacity awareness, focusing infrastructure development.

Language: Английский