The relationship between technology, business model, and market in autonomous car and intelligent robot industries

This study develops a new innovation diagram based on three elements - technology-business model (BM)-market - for characterizing the knowledge-based economy and open innovation. It identifies the relationship between technology, business model, and market through analysis of in-depth interviews with Korean firms that belong to the autonomous car and intelligent robot industries at first. It develops the Casual Loop Diagram based on the dynamic relationships between technology-BM-market In developing this diagram, regulations, standards, and leading firm effects were considered which were caught at the interviews. The technology-BM-market system causal loop diagram was proven through the analysis of technology, and business model patent statistics, and the reference and citation networks among these patents from worldwide in 2 industries. It identifies the importance of the business model in addition to 3 factors identified in this research, the leading firm effect, standardization, and regulation. The research suggests new market increase strategies and policies which are based on technology-BM-market diagram in technology intensive industries such as autonomous car and intelligent robot industries. (C) 2015 Elsevier Inc. All rights reserved.