New Product Development and Industrial Competitiveness in Industrial Sectors :A Systematic Literature Review

Abstract

This article sets out the findings of a systematic review of the research literature on the relationship between industrial competitiveness and new product development in the industrial sector. The review is important since it originates from growing industrial competitiveness in generating new industrial products and achieving benefits for customers, which helps society and creates economic success for the development of a country. The method of a systematic literature review of past studies was adopted. The importance of industrial competition originates from its importance in pushing and urging the owners of industrial enterprises and factories to enhance their industrial products. The findings support the view that manufacturers always and continuously aim to create and maintain a competitive position in the market to maximize their earnings and expand their market share. This interest was also reflected in the research and innovation of factories to produce new industrial products, innovate new technologies in manufacturing items, and elevate their standards to the best. All the articles emphasize a strong relationship between new product development and industrial competitiveness in the industrial sector, which are significant to the growth of the economy.