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The Repercussions of the Digital Twin in the Automotive Industry on the New Marketing Logic

Author

Listed:
  • Florian Blaschke
  • Biewendt Marcel
  • Böhnert Arno

Abstract

Rapid development of virtual and data acquisition technology makes Digital Twin Technology (DT) one of the fundamental areas of research, while DT is one of the most promissory developments for the achievement of Industry 4.0. 48% percent of organisations implementing the Internet of Things are already using DT or plan to use DT in 2020. The global market for DT is expected to grow by 38 percent annually, reaching USD16 billion by 2023. In addition, the number of participating organisations using digital twins is expected to triple by 2022. DTs are characterised by the integration between physical and virtual spaces. The driving idea for DT is to develop, test and build our devices in a virtual environment. The objective of this paper is to study the impact of DT in the automotive industry on the new marketing logic. This paper outlines the current challenges and possible directions for the future DT in marketing. This paper will be helpful for managers in the industry to use the advantages and potentials of DT.

Suggested Citation

  • Florian Blaschke & Biewendt Marcel & Böhnert Arno, 2020. "The Repercussions of the Digital Twin in the Automotive Industry on the New Marketing Logic," European Journal of Marketing and Economics Articles, Revistia Research and Publishing, vol. 4, January -.
    • Handle: RePEc:eur:ejmejr:82
    DOI: 10.26417/229eim64f
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    References listed on IDEAS

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    1. Constantin ANGHELACHE & Madalina Gabriela ANGHEL & Ligia PRODAN & Cristina SACALA & Marius POPOVICI, 2014. "Multiple Linear Regression Model Used in Economic Analyses," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 62(10), pages 120-127, Octomber.
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