11.18.21 -- Where Servitization And Sustainability Converge

Servitization leads to greater revenue and growth, according to this 200-respondent study, and greater levels of servitization bring greater business benefits. In this white paper, you will find research on the servitization of product-centric companies and the technologies behind this digital transformation.

Today, electric utilities are facing an Amazon moment with the arrival of a vast array of digital newcomers and increased complexity, from blockchain-enabled electricity trading platforms to smart neighborhoods. Across the board, utilities are facing de-commoditization that requires them to fight for relevance to the customer. Electric utility companies can fight back by doing what they were always designed to do: provide a service.

Manufacturers, retailers, and other businesses have, over the course of the last several years, diversified their product offerings by productizing service. We call this servitization. Learn how you stack up on your servitization journey in this white paper.

Whether you’re feeling the pressures of legislative change related to sustainability initiatives, or simply have a commitment to making a positive impact, servitization is a lever to explore. However, even if sustainability isn’t a key driver for you at the moment, understanding how servitization based strictly on the business decision will have an impact on sustainability is interesting to explore and important to understand.

The servitization megatrend is upon us. Industrial machine manufacturing companies are adding service revenue streams and changing their business models, usually to augment but sometimes to replace product-based business. This, coupled with the trend of moving away from a linear economy to a circular one, is changing the thinking of leading manufacturers of industrial machinery.