Competition of technology standards in Industry 4.0: An innovation ecosystem perspective

Abstract

In the era of Industry 4.0, innovation of complex technology systems and the development of intelligent technologies rely on technology standards. Therefore, the competition of technology standards becomes vital for enterprises to gain competitive advantage. In order to help enterprises obtain competitive advantage by adopting the proper strategy in the competition of technology standards, this paper integrates the concept of innovation ecosystem with technology standard competition and develops a mechanism based on Lotka-Volterra model. In specific, five possible results of technology standard competition are predicted, and corresponding strategic options for enterprises are discussed.