The Industrial Internet could contribute over $14 trillion of global output by 2030, but most companies are still struggling to grasp its impact.
The XaaS model is not exactly new. Decades ago, Rolls Royce transitioned from selling jet engines to selling power-by-the-hour. In some respects, establishing a connected service is not unlike leasing, except that it’s more focused on the service than the asset, says Ken Forster, chief operating officer of PLAT.ONE, which develops enterprise-grade software and industrial solutions.
“It truly is a win-win for both manufacturer and buyers of an asset or service,” Forster says. “The manufacturer has a more ‘sticky’ relationship with steady, long-term income from a wider set of service offerings. Buyers enjoy a lower cost of access and entry for large capital goods.”
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