  The concept of the sustainable business model describes the rationale of how
an organization creates, delivers, and captures value, in economic, social,
cultural, or other contexts, in a sustainable way. The process of sustainable
business model construction forms an innovative part of a business strategy.
Different industries and businesses have utilized sustainable business models
concept to satisfy their economic, environmental, and social goals
simultaneously. However, the success, popularity, and progress of sustainable
business models in different application domains are not clear. To explore this
issue, this research provides a comprehensive review of sustainable business
models literature in various application areas. Notable sustainable business
models are identified and further classified in fourteen unique categories, and
in every category, the progress -- either failure or success -- has been
reviewed, and the research gaps are discussed. Taxonomy of the applications
includes innovation, management and marketing, entrepreneurship, energy,
fashion, healthcare, agri-food, supply chain management, circular economy,
developing countries, engineering, construction and real estate, mobility and
transportation, and hospitality. The key contribution of this study is that it
provides an insight into the state of the art of sustainable business models in
the various application areas and future research directions. This paper
concludes that popularity and the success rate of sustainable business models
in all application domains have been increased along with the increasing use of
advanced technologies.
