There is an ongoing trend to expand traditional offerings of selling goods towards providing value through services to customers. In academia the term Industrial Product-Service Systems (IPS2) describes this phenomenon. Although many articles have been published on IPS2 a systematic review is lacking. This paper presents a systematic review of the IPS2 domain. Five themes characterizing IPS2 are revealed: delivery, processes, value creation networks, knowledge management, and business models. IPS2 is concluded to be both a young and distributed field of research, with a scope that needs to expand in terms of the themes covered and number of empirical studies.