The most dramatic change is that products now undergo a process of so-called "servicification". It is no longer enough simply to provide a product. The market also expects a set of online services following the product’s life-cycle and providing the customer with 24/7 access to help, support and management services, and easy integration with other equipment, products and services. This means that the wealth generation which constitutes the competitive advantage of servicification can be increased exponentially by applying innovations which exploit new business models – transforming them into software-based services deployed, operated and maintained online and in real time via the internet.
We are now living in a digital, service-based economy. Over the last decade, industries and all other sectors have adopted more service- and user-oriented approaches, placing customers at the centre and basing their communications with them regarding provision and use on the connectivity provided by the internet.