Affiliation:
1. K.R. Mangalam University, Gurugram, India
2. Chitkara Business School, Chitkara University, India
3. Maharishi Dayanand University, India
4. Lovely Professional University, India
Abstract
Platform business models have emerged as transformative forces in various industries, reshaping the way services are delivered and consumed. This comprehensive research paper delves into the dynamics of platform-based service innovation and its profound impact on modern economies. The authors provide an in-depth exploration of platform business models, their pivotal role in enabling service innovation, and the evolution of digital ecosystems. Through an extensive literature review, case studies, and empirical analysis, we examine the key drivers, challenges, and opportunities associated with platform business models. Additionally, the authors investigate the implications of platform-based service innovation for stakeholders, including businesses, consumers, and policymakers. This chapter offers valuable insights into the multifaceted world of platform business models and their far-reaching influence on the future of service industries and economic growth.
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