The role of I4.0 in a data-driven shared platform for a Circular product and service package

Abstract

Abstract This study aims to explore the role of Industry 4.0 (I4.0) technologies with the circular economy (CE) in the shadow of a Product Service System (PSS). Integrating innovative technologies creates a circular economic system that enhances the value and legitimacy of their trade. Recently, many global industries have shifted their focus towards product-based services to perpetuate in today’s competitive market without negatively influencing environmental detrition. This is the first study to highlight how the service-centric paradigm has a significant impact on the creation of circular products, the management of their lifecycles, and their cost analysis. Additionally, this study will advance our understanding of how I4.0 technologies use waste to create sustainable energy sources rather than consuming virgin resources (normally considered a linear model). This research used the Systematic Literature Review (SLR) methodology to analyse and categorise a literature survey of 126 research articles published over ten years (2013-2022). The analysis indicates that the early research is mostly focused on defining the key variables (CE, I4.0, and PSS) and developing various frameworks to promote eco-efficient services and/or sustainable development using I4.0 technologies and is engineering focused. It is established that two propositions leverage CE; the first one is value co-creation, which enhances perceived value. In contrast, the other one is related to the application of data-driven platforms using I4.0 technologies for sculpting the strategy and other decision support. There need to be more studies analysing CE, I4.0, and PSS. Therefore, this study has analysed the suitability of the theoretical propositions regarding the impact of applying I4.0 technologies with CE and PSS towards this paradigm shift.