How Servitization is Changing the Construction Industry
The concept of servitization is not a new phenomenon. The term was formally defined in the 1980s, but its essence— bundling service packages with products to add value— goes back several decades earlier. Recently, servitization has come to the fore as a shaping force in the construction industry. For companies looking to add innovative service and asset management capabilities to their offerings, the benefits are straightforward.
Adding service has been found to result in:
- A 5-10% annual increase in service revenue
- Maintenance cost reductions of 25–30%
- Improved product and asset performance
Download the construction white paper to learn more about servitization and how the construction industry can benefit from it.
File Information: Whitepaper, pdf 0.5 MB