Servitization for Ecological Sustainability

Servitization as a trend is catching up worldwide very fast. But does servitization help the environment for ecological sustenance? Though research papers throw much light on this, a direct inference on effect of servitization on ecology, how new age technologies like Industry 4.0 affects servitization is what this research is attempting at. Qualitative research consisting of in-depth interviews was done among senior technical professionals in a cross section of industries like Heavy engineering, Power, Green Energy, Steel, Chemicals. This research shows that servitization is having a positive effect on the environment. Technological advancements like Industry 4.0 are helping servitization. Customers have a good will for servitization as it is contributing to ecology and hence ready to pay extra on that account. They are also ready to handhold the manufacturers to make their servitization endeavors successful and fruitful to customers.