## 1 Introduction  
The economic and financial viability of emerging technologies plays a crucial role in the decision-making process for their adoption and implementation. This scientific paper aims to explore the economic and financial viability of Narrow Band-Internet of Things (NB-IoT) and Long Range Wide Area Network (LoRaWAN) technologies for different Internet of Things (IoT) applications within 14.0/15.0 and Smart City environments. The research question driving this study is: \"What is the economic and financial viability of NB-IoT and LoRaWAN technologies for different IoT applications, as assessed through a comprehensive life cycle cost analysis?\"  
Our hypothesis posits that the economic and financial viability of NB-IoT and LoRaWAN technologies varies based on the specific IoT applications, owing to differences in cost structures and revenue potentials. To test this hypothesis, a comprehensive life cycle cost analysis will be conducted with the help of design science research, taking into account various economic and financial factors, such as operating costs, equipment costs, and revenue potential. The findings of this research will provide valuable insights into the total cost of ownership of NB-IoT and LoRaWAN technologies, identifying potential areas for cost savings, and facilitating informed decision-making processes regarding their adoption and implementation in diverse IoT applications. Industry 4.0 and the emerging concept of Industry 5.0 have ushered in a new era of technological advancements that are reshaping industries and societies around the world [1]. These transformative technologies, collectively referred to as I4.0/15.0 technologies, encompass a wide range of digital innovations such as the Internet of Things (IoT), cloud computing, artificial intelligence (AI), robotics, and automation. These technologies hold great promise for revolutionizing various sectors, including manufacturing, healthcare, transportation, and smart city/urban development. The benefits of I4.0/15.0 technologies are significant and varied. They enable increased efficiency, productivity, and quality in manufacturing processes, resulting in cost reductions, improved product customization, and faster time to market. In an economic context, these technologies form the backbone of improvement initiatives, enabling stakeholders to optimize resource utilization, improve service delivery, etc. The adoption of I4.0/15.0 technologies brings forth socio-economic challenges, including the digital divide, inequality of access, and workforce transformation. Interoperability presents a challenge that necessitates the establishment of standards and protocols for seamless communication and integration among diverse technologies and stakeholders [2]. Privacy and data security are also paramount concerns in the adoption of these technologies. The vast amount of data generated and exchanged raises issues of privacy, data ownership, and cybersecurity. Protecting privacy and implementing robust security measures are essential for building trust. The adoption of I4.0/15.0 technologies presents unique challenges, as noted above, but also in terms of financial viability [3], including lifecycle costs that include both upfront investments and operational expenses. This article focuses on evaluating the economic and financial feasibility of NB-IoT and LoRaWAN technologies in light of the challenges associated with the adoption of emerging technologies. This study aims to provide valuable insights into the viability of these technologies by assessing their potential benefits and examining the associated costs. Understanding the economic and financial aspects is crucial for organizations and stakeholders to effectively leverage NB-IoT and LoRaWAN, considering resource allocation and investments. These costs include the cost of implementation, reskilling, and training the workforce to adapt to the new technologies, and developing the infrastructure to support their integration.