Today we are in a world where fewer and fewer people are buying products, and instead more and more are buying the ‘services’ these products enable. This opportunity is rapidly expanding because of the interplay between the digital revolution (the Internet of Things (IOT), Digitalisation, and Industry 4.0) and customers growing appetite for ‘experiences’ over ownership. Unfortunately, many people only think about such technologies in the context of the ‘old world’ of industry – helping with the production of cheaper, faster, better products. The focus of the service design and customisation thematic area is on increasing the value of the output through adding service to the product. There is considerable evidence that moving from a product to a service strategy substantially increases the value of the product sale.
The report is available for download at the link below.