This study uses a business network perspective to investigate the industry 4.0 context with the internet of things (IoT) as its enabling technology and product-use data as its core network resource. A three-stage qualitative methodology (interviews, focus group, Delphi-based inquiry) was used to examine the case of an emergent IoT-based business network in the UK road transport industry to examine: (i) how aspects of product use data influence the benefit opportunities the data provide to the different network actors; (ii) how capturing of the benefit opportunities in a network context is impacted by key barriers; and (iii) how network capabilities can overcome these barriers to capture benefits from product-use data. The study, thereby, contributes to an understanding of the industry 4.0 context from a resource dependency theory perspective and provides concrete recommendations for management operating in this context.