The role of industry 4.0‐enabled data‐driven shared platform as an enabler of product‐service system in the context of circular economy: A systematic literature review and future research directions

Abstract

AbstractThe integration of innovative technologies creates a circular economy (CE) system that enhances the value and legitimacy of their trade. Recently, many global industries have shifted their focus towards product‐service system (PSS) to perpetuate in today's competitive market without negatively influencing the environmental detrition and retaining the extended producer responsibility (EPR). Thus, this study will advance an understanding of how I4.0 technologies derivate renewables from waste to create sustainable energy sources rather than consuming virgin resources (normally considered a linear model) from a data management and product lifecycle perspective. This research used the Systematic Literature Review (SLR) methodology to analyse and categorise a literature survey of 126 research articles published over the 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 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. More studies need to be analysing CE, I4.0 and PSS. To support researchers, managers and policymakers, this study has analysed the applicability of theoretical propositions regarding the application of I4.0 technologies with CE and PSS and presented a theoretical framework for the I4.0‐enabled share platform that may be tested using empirical data.