"Industry 4.0 and the Industrial Internet of Things (IIoT) could be called the next Industrial Revolution. This trend is already established in industrial manufacturing and will continue to grow. A digital strategy, however, is not immediately possible or obvious for every company.
With Equipment-as-a-Service (EaaS), IIoT service providers can make the IIoT and Industry 4.0 a reality for every company. Many sectors are faced with a fast developing environment and growing customer expectations regarding price and quality. Anyone at the cutting edge who is using yesterday's systems will encounter problems that a traditional approach will not solve.
Capital Investment in modern systems cost a lot of money and come with their own risks. A move to an Equipment-as-a-Service sales model can be the silver bullet to enable small, medium and large enterprises to prepare for the oncoming digital future.
Equipment-as-a-Service largely describes the process in which production systems or machinery are not purchased, but provided by a supplier for a fee: The Equipment-as-a-Service provider is responsible for maintenance, service, repairs and replacements. Networked and smart systems help the provider to adapt maintenance scheduling to planned downtime to usage and utilize complex analysis to predict maintenance needs or faults. Furthermore, modern and networked systems can recognize additional usage options or suggest improved designs based on production data. IIoT solutions can help tap unseen potential."