Value opportunities for business models with digital twins

Erika Pärn, Michael Grieves and Mohamed Zaki

Chapter 15 in Handbook of Service Experience, 2025, pp 204-216 from Edward Elgar Publishing

Abstract: The rise of Digital Twin (DT) technology has piqued manufacturers’ interest as a transformative tool for operational efficiency. This chapter addresses the early-stage adoption challenges by: (i) Proposing a novel DT business model framework encompassing value dimensions: proposition, architecture, network, and finance; (ii) Presenting DT business model archetypes like mission assurers, uptime assurers, gatekeepers, maintenance optimizers, orchestrators, and strategic digital partners; (iii) Offering guidelines for organizations to integrate DT into their business models effectively. This research sheds light on DT’s transformative potential, providing a roadmap for implementation and future research directions in the manufacturing industry.

Keywords: Business and Management; Economics and Finance; Geography (search for similar items in EconPapers)
Date: 2025
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