Servitization in Digital Age: A Systematic Literature Review

Abstract

Servitization is a growing trend where companies expand their product-based businesses to include complementary service offerings. The digital age is accelerating this trend as technology allows companies from all sectors to offer increasingly sophisticated, integrated, and personalized services. This shift requires companies to restructure their organizational structures and improve their processes. A systematic literature review was conducted to uncover successful practices and approaches in implementing servitization in the current technological setting. This systematic review provides a comprehensive understanding of recent research on servitization, business models, big data analytics, and pricing strategies. It concludes that companies can establish a competitive advantage in today's digital age by effectively transforming business models towards holistic solutions, exploiting big data analytics, and crafting pricing strategies.