Abstract for: The Dynamic Relationships between Technology, Business Model and Market in Autonomous Car and Intelligent Robot Industries
This study develops a new dynamic innovation model based on three elements — Technology–Business Model(BM)–Market — for characterizing the knowledge-based economy and open innovation. It identifies the relationship dynamics 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, the analysis of technologies worldwide as well as business model patent applications of both industries, and the analysis of the reference and citation networks among these patents. It develops the Casual Loop Model and System Dynamics Model based on the dynamic relationships between Technology-BM-Market. In developing these models, the regulations, the standards, and the leading firm effects were considered. The Technology–BM–Market System Dynamics Model was validated through analysis of interviews with each firm, analysis of group meetings with experts from each industry, and analysis of technologies, and business model patent citations statistics and networks. It identifies the importance of the business model in addition to 3 conditions identified in this research, the leading effect, standardization, and regulation. The research suggests new market increase strategies and policies which are based on Technology-BM-Market model in technology intensive industries such as autonomous car and intelligent robot industries.