Extracting commercialization opportunities of the Internet of Things: Measuring text similarity between papers and patents

In the field of technology management, methods have been developed to detect technologies that are important in industry by analyzing massive numbers of documents. Such methods have been applied to the field of the Internet of Things as well to investigate technological trends. The Internet of Things consists of several conventional concepts, such as radio frequency identification, near field communication, and sensor networks. However, no research compares these technologies by analyzing massive quantities of papers and patents. Thus, in this study, we explored the research areas of technologies related to the Internet of Things, for which there are opportunities for commercialization in the near future. We also discuss potential applications of these technologies in diverse systems.