Markets today are fiercely competitive. However, Industry 4.0 offers companies plenty of technologies to work efficiently and survive in the markets. In order to shorten time-to-market and increase product development, companies are therefore pushing the use of sophisticated models, known as Digital Twins, and with the help of which a constant image of reality can be made possible. However, there is no clear definition of Digital Twins. Therefore, in the course of this work, the role of the Digital Twin in the context of Industry 4.0 is considered and we will look at how Digital Twins are structured. It has been shown that Digital Twins are thought of as the virtual and computerized counterpart of a cyber-physical system which can be used to map and simulate a system for various purposes. However, Digital Twins can not only create an image of reality, they can also create digital models, exchange data bidirectionally with their physical counterpart, whereby the data sent in the process is also called digital shadow, and accompany their physical counterpart throughout its entire lifecycle. The model created in this process over the entire product lifecycle up to delivery can now be used to perform simulations, forecasts and optimizations of products and production systems. Furthermore, this work also highlights potentials and obstacles that can arise in the use or through the use of Digital Twins and provides an insight into the possible applications of Digital Twins in the business areas of production and transport and warehouse logistics. Building on this, based on the current literature, a case study was conducted, to show two specific use cases of Digital Twins.