Contribution to the industry-specific identification and selection of a business model in machinery and equipment industry

Abstract

Industry 4.0 introduces a paradigm shift that will lead to changes of business models in many e. Today, industrial companies are gradually transforming their traditional and transaction-based business models into new business models made possible by cyber-physical systems. New business models such as as-a-service or platform-based business models emerge. This change brings enormous opportunities, but also many risks for the manufacturing industry. Many companies are faced with the problem of choosing from the multitude of new business models. The business model development to be found in literature primarily follows the needs of the customer. Machinery and equipment industry is a particularly interesting sector since more than 50% of the customers in machinery and equipment industry come from the same sector. This paper develops a process model for the industry-specific selection of business models. The model includes the following questions: Which business models can be selected in the field of machinery and equipment industry? Which possible goals can be pursued with the respective business models? Which criteria are useful for deciding on the respective business model?