Servitization: A State-of-the-Art Overview and Future Directions

Abstract

Over the past two decades, servitization has emerged as a major growth engine in many markets for firms looking beyond their traditional product core. Following a brief account of the history of servitization, we discuss the conceptual foundations and main drivers of the strategic move toward service transition. A review of the literature provides an up-to-date account of the state of the art of servitization research, and we go on to discuss key insights from this prolific research domain. Finally, against the backdrop of growing digital transformation across many industries, we discuss key trends that will accelerate servitization in years to come and suggest avenues for promising future research in this domain.