STATE-OF-THE-ART AND FURTHER DEVELOPMENTS IN BUSINESS MODEL RESEARCH FOR INDUSTRY 4.0
Abstract
As the development of Industry 4.0 is predicted to disrupt the current industrial system, newer research studies need to focus increasingly on analyzing the resulting economic implications of these technological changes. One of the most important topics in this context is the influence of Industry 4.0 on business models (BM) and business model innovation (BMI), since for most firms, a change of their extant business model or a completely new business model is needed to fully capture the opportunities offered by the Industry 4.0.
This paper analyzes the existing literature to identify, address and examine the major outcomes, similarities and differences of the important studies, allowing for better description of the current state-of-the-art regarding the influence of the Industry 4.0 on contemporary BMs. Based on this, reoccurring core concepts such as data-centricity, efficiency and individualization, servitization, value networks and platform-based BM are identified and their impacts as well as implications for future research are outlined. To gain additional insights, the use cases of the most prominent business model frameworks in the context of the Industry 4.0 are illustrated and compared side-by-side, highlighting their specific applications, benefits, and limitations.
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The EUrASEANs
International College Suan Sunandha
Rajabhat University, Bangkok, Thailand
