The servitization of manufacturing; a review of literature

Servitization can be considered as a shift from selling products to selling an integrated combination of products and services that deliver value in use. The concept embraces service-led competitive strategy, providing increased revenue stream and profit margins, and an opportunity to differentiate from products originating from lower cost economies. This paper aims to report the state-of-the-art of servitization by presenting a clinical review of literature currently available on the topic. The literature review process is described and the extent of literature on this topic summarised. On this basis, the paper defines the servitization concept, reports on its origin, features and drivers, gives examples of its adoption along with future research challenges.