Value chain

Supply chain

Machine learning

Product-service system

Business

Business value

Embedded system

Leverage (statistics)

Economics

Marketing

Ecology

Process management

Value (mathematics)

Human capital

Sustainable Value

Value capture

Industry 4.0

Value creation

Business analytics

Industrial organization

Computer science

Business model

Economic growth

Knowledge management

Electronic business

Sustainability

Biology

Digitalization is revolutionizing the way business is conducted within industrial value chains through the use of Internet of Things (IoT) technologies, intensive data exchange and predictive analytics. However, technological application on its own is not enough; profiting from digitalization requires business model innovation such as making the transition to advanced service business models. Yet, many research gaps remain in analyzing how industrial companies can leverage digitalization to transform their business models to achieve sustainability benefits. Specifically, challenges related to value creation, value delivery, and value capture components of business model innovation need further understanding as well as how alignment of these components drive sustainable industry initiatives. Thus, this special issue editorial attempts to take stock of the emerging research field through a literature review and providing a synthesis of special issue contributions. In doing so, we contribute by developing a framework that communicates and sets the direction for future research by linking digitalization, business model innovation, and sustainability in industrial settings.

Reviewing Literature on Digitalization, Business Model Innovation, and Sustainable Industry: Past Achievements and Future Promises