What is servitization and how will it benefit you? The manufacturing industry is evolving. Over the next three years 65% of global manufacturing will transition from a focus on products to building revenue streams through services. This is true for manufacturers of all sizes, sectors and levels of complexity. Innovations in software and cloud computing supported by the diminishing cost of sensors and real time monitoring of assets in the field, means the ability to offer outcomes and capabilities creating a circular model of business. This idea of a service based/outcome based solution is known as servitization. Servitization is only the start – find out where emerging trends such as "Internet of Things", "Industry 4.0" and "the Circular Economy" all fit within a servitization context.
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