A scientometric review of hotspots and emerging trends in sustainable business model

A sustainable business model (SBM) has become an inevitable trend for the traditional business model to follow the development of the times. Based on scientometrics, we explored and visually analyzed SBM's hotspots and emerging trends using the references co-citation networks, landmark references, burst references, keywords co-occurring networks, timeline map, and burst keywords indicators. Our findings consist of four aspects: hotspots and emerging trends, hotspots evolution history, landmark references, and burst references evolution history. First, the core hotspots are “sustainable innovation” and “open innovation”. Second, the main hotspots have evolved from “sustainable innovation,” “strategy,” “performance,” and “supply chain” from 1998 to 2012 into “resource-based view,” “product-service system,” “China,” “life cycle assessment,” and “conceptual framework” in 2013–2017. And “circular economy,” “renewable energy,” “value creation,” “decarbonization” have appeared since 2019, which are emerging trends of SBM. Third, we have found ten landmark references in total. Articles written by Bocken & Short, Boons & Ludeke-Freund, and Zott & Amit are the three most landmark references that significantly impact the whole field. Last, the top 10 cited references have burst since 2011 and lasted until 2022. The article written by Teece became a long-term cited hotspot from 2011 to 2018. Moreover, the article written by Geissdoerfer & Vladimirova, which burst in 2020–2022, was the most cutting-edge. This research aims to enrich the existing research theories related to SBM and help governments and enterprises capture hotspots and emerging trends of SBM so that they can better understand and study SBM.