This paper investigates the role of business models: What differences exist between the roles of an alreadyexisting market-based converted industry and a newly appearing market-based emerging industry? This study analyzed the status of the technologies and business models in the autonomous car and intelligent robot industries, as well as their recent two-year growth, using technology and business model patents. In addition, it investigated the current situation of the technologies, business models, and markets of the two industries based on literature reviews. This study then simulated the market growth of the autonomous car and intelligent robot industries using system dynamics. The simulations were established and verified by analyzing the references and citations of the technology patents and business model patents of the two industries. This study reached three conclusions. First, in the case of a converted industry such as autonomous cars, a strategy focused on a business model is useful in the early stage, whereas one focused on technology is efficient in the mature stage. Second, in the case of an emerging industry such as intelligent robots, a strategy focused on technology is somewhat more useful in the early stage than one focused on a business model; conversely, a strategy focused on technology is slightly more useful in the mature stage. Third, a business model is also important to supplement technology such as intelligent robots at a mature stage in Canada or autonomous cars at a mature stage in Japan.

Introduction

IT advances are producing innovative changes in all industries, leading to what many have called the Fourth Industrial Revolution. As the pace of these changes accelerates, creative combinations of technologies and markets are emerging in various segments of the economy. This Fourth Industrial Revolution is expected to produce revolutionary changes as industries and businesses start to adopt cyber-physical systems, which are combinations of physical systems and cyber systems (Bloem et al., 2014). Cyber-physical systems (CPSs) are based on the newest and foreseeable developments in computer science, information, and communication technologies combined with manufacturing science and technology. This confluence is frequently designated Industry 4.0 (Monostori, 2014). More generally, the Fourth Industrial Revolution is characterized by the emergence of new business models, the disruption of existing systems, and the reorganization of production, consumption, transportation, and delivery systems (Schwab, 2017). One key feature is the emergence of creative business models, which involve a creative recombination of technologies and markets. As a result, the Fourth Industrial Revolution has generated two types of new industries (see Fig. 1). First are the converted industries replacing the existing market, such as the autonomous car industry, which is replacing the traditional car industry, or smart farm factories, which are replacing traditional agriculture. Second are the emerging industries, which do not have any precedent among similar industries. Examples include intelligent robots and 3-D printers.