Prefabricated　building　projects　(PBPs)　have　been　recognized　as　an　effective　method　for　reducing　energy　consumption,　carbon　emissions,　and　resource　depletion.　Various　information,　material,　product,　service,　and　fund　flows　exist　in　PBPs,　leading　to　high　requirements　of　information　exchange　and　collaboration　among　the　multiple　stakeholders.　The　Internet　of　Things　(IoT)　platforms　are　powerful　tools　that　can　support　these　requirements.　However,　the　IoT　platforms　have　not　been　extensively　applied　in　industry,　which　is　a　significant　bottleneck　in　PBP　promotion.　Stakeholders　are　the　entities　that　make　decisions　on　the　use　of　IoT　in　PBPs　and　play　an　important　role　in　its　successful　implementation.　This　study　proposes　a　game-theory-based　model　to　reveal　the　mechanisms　of　stakeholders’　decision-making　on　the　adoption　of　IoT　platforms　in　PBPs.　The　game　analysis　results　reveal　the　optimal　selection　strategies　of　critical　stakeholders　regarding　the　IoT　adoption　under　different　conditions.　The　market　penetration　rate　(MPR)　of　IoT　platforms　in　the　PBP　markets　has　been　found　to　be　a　critical　factor　that　influences　the　decisions　of　critical　stakeholders　considerably.　The　results　of　this　paper　could　provide　valuable　policy　implications　(i.e.,　improving　the　market　penetration　rate　of　IoT　platforms　by　developing　pilot　projects,　motivating　clients　to　use　the　platforms　in　PBPs,　and　providing　relevant　IoT　educational　programs)　for　promoting　the　adoption　of　IoT　in　PBPs,　which　is　of　benefit　to　enhance　PBP　development　and　further　improve　energy　and　resource　conservation.　©　2020　Elsevier　Ltd