The Repercussions of the Digital Twin in the Automotive Industry on the New Marketing Logic

Florian Blaschke, Biewendt Marcel and Böhnert Arno
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Florian Blaschke: Charité Universitätsmedizin, Berlin

European Journal of Marketing and Economics Articles, 2021, vol. 4

Abstract: Rapid development of virtual and data acquisition technology makes Digital Twin Technology (DT) one of the fundamental areas of research, while DT is one of the most promissory developments for the achievement of Industry 4.0. 48% percent of organisations implementing the Internet of Things are already using DT or plan to use DT in 2020. The global market for DT is expected to grow by 38 percent annually, reaching USD16 billion by 2023. In addition, the number of participating organisations using digital twins is expected to triple by 2022. DTs are characterised by the integration between physical and virtual spaces. The driving idea for DT is to develop, test and build our devices in a virtual environment. The objective of this paper is to study the impact of DT in the automotive industry on the new marketing logic. This paper outlines the current challenges and possible directions for the future DT in marketing. This paper will be helpful for managers in the industry to use the advantages and potentials of DT.

Keywords: Digital twin; automotive; marketing; industry 4.0 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eur:ejmejr:82

DOI: 10.26417/229eim64f

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