This study investigates the potential impact of IoL on the European office lighting value chain. By interviewing 28 professionals from lighting and IoT companies, we formulate four perspectives with corresponding drivers of change: IP to the end node, standardisation, sharing data, and light as a service. Potential impacts on value have been formulated for each driver, and are operationalised towards stakeholders using the layered value network model. The validity of the model is shown by populating it with the European office lighting value chain.