Driving the Circular Economy Through Digital Servitization: Sustainable Business Models in the Maritime Sector

Viktoriia Koilo ()
Additional contact information
Viktoriia Koilo: Department of Ocean Operations and Civil Engineering, Faculty of Engineering, Norwegian University of Science and Technology, 6007 Ålesund, Norway

Businesses, 2025, vol. 5, issue 1, 1-24

Abstract: This study explores the integration of digitalization and circular economy (CE) principles within the maritime industry through a theoretical analysis, proposing a framework that aligns business models with Sustainable Development Goals (SDGs) and net-zero objectives. By investigating how digital servitization and circular business models can drive economic, social, and environmental outcomes, this research provides valuable insights into sustainable value creation and capture across maritime value chains. The theoretical analysis covers the evolution of business models, emphasizing their collective role in fostering sustainable transformation within the maritime sector. The central idea of this study is a sustainable value mapping approach that aligns product–service systems (PSSs) with circular economy principles, incorporating lifecycle thinking (LCT) to capture the full environmental, economic, and social impacts. This broader perspective on the economic value proposition highlights the need for a shift from selling products to offering servitized products, acknowledging the importance of sustainability across the entire product lifecycle. This framework offers actionable guidance for maritime stakeholders committed to transitioning their value chains towards sustainable, circular models, addressing both production and consumption dimensions to achieve broader environmental and social benefits.

Keywords: maritime value chain; ecosystem; value system; business models; sustainable value; circular economy; digital servitization; product–service system; sustainable circular business model innovation (search for similar items in EconPapers)
JEL-codes: A1 D0 D4 D6 D7 D8 D9 E0 E2 E3 E4 E5 E6 E7 F0 F2 F3 F4 F5 F6 G0 G1 G2 H0 J0 K2 L0 L1 L2 M0 M1 M2 M3 M4 M5 N0 N1 N2 O0 O1 P0 (search for similar items in EconPapers)
Date: 2025
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2673-7116/5/1/12/pdf (application/pdf)
https://www.mdpi.com/2673-7116/5/1/12/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jbusin:v:5:y:2025:i:1:p:12-:d:1605027

Access Statistics for this article

Businesses is currently edited by Dr. Patrick Han

More articles in Businesses from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().