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Value opportunities for business models with digital twins

In: Handbook of Service Experience

Author

Listed:
  • Erika Pärn
  • Michael Grieves
  • Mohamed Zaki

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.

Suggested Citation

  • Erika Pärn & Michael Grieves & Mohamed Zaki, 2025. "Value opportunities for business models with digital twins," Chapters, in: Per Kristensson & Lars Witell & Mohamed Zaki (ed.), Handbook of Service Experience, chapter 15, pages 204-216, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21900_15
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035300198.00023
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