Abstract
Digital Twins offer vast potential, yet many companies, particularly small and medium-sized enterprises, hesitate to implement them. This hesitation stems partly from the challenges posed by the interdisciplinary nature of creating Digital Twins. To address these challenges, this paper explores systematic approaches for the development and creation of Digital Twins, drawing on relevant methods and approaches presented in the literature. Conducting a systematic literature review, we delve into the development of Digital Twins while also considering analogous concepts, such as Cyber-Physical Systems and Product-Service Systems. The compiled literature is categorised into three main sections: holistic approaches, architecture, and models. Each category encompasses various subcategories, all of which are detailed in this paper. Through this comprehensive review, we discuss the findings and identify research gaps, shedding light on the current state of knowledge in the field of Digital Twin development. This paper aims to provide valuable insights for practitioners and researchers alike, guiding them in navigating the complexities associated with the implementation of Digital Twins.