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. •Causal loop diagram(CLD) between technology, BM, and market is developed in the 2 industries.•Regulation, standardization, and leading firm were also included in the CLD.•The structure and function of CLD of 2 industries were proven by intensive interview and patents analysis.•Policy leverages were proposed to activate BM and the growth of market.