This project deliverable provides a literature review focused on value networks and value network analysis (VNA) framework and its application, but also on other key related concepts which can be extrapolated to the Intelligent Transport Systems (ITS) domain, such as “business ecosystem”, “network business models”, “smart service systems”, “industrial symbiosis”, “cyber physical systems” and “service dominant logic”. The results of a business research activity covering ITS and C-ITS domains are analysed concluding through a knowledge build up and filtering process in the validation of a tailor-made VNA approach for the development of new business models for ITS within the NEWBITS project.