Chapter 12, “Conclusions”, conceptualizes industrial transformation as consisting of qualitative changes in the structure of inter-firm activities and relations. The authors stress that industrial transformation consists of uncertain endogenous processes of qualitative state changes, limiting the role of increasing returns. However, uncertainty can be managed or reduced by increasing control. By distinguishing the book’s chapters into research, design and development (RD&D), production and distribution, the authors show how digitalization increases control and becomes a powerful driver of industrial transformation. The authors compare the seminal work of Allyn Young (1928) to explain how demand changes, digitalization and industrial transformation coevolve cumulatively.