Hardware-as-a-Service as a new business model

Offenburg, March 3, 2023

For a long time, German mechanical engineers were considered the model students. But now they are being overtaken by the competition from China. They can only regain their former market leadership with useful innovations and new business models.

Quality alone does not guarantee market success. To regain their former market position, German mechanical engineering companies must focus on beneficial innovations and new business models. Predictive maintenance – i.e. the most accurate possible prediction of failures – directly addresses the pain points of customers. Reliably implemented, it allows non-failure guarantees, saves on personnel and resources, and can therefore be used to introduce business models that are already familiar from the software sector. Hardware-as-a-Service guarantees manufacturers long-term predictable revenues and protects customers from high costs due to unplanned outages. The technical side can also be implemented cost-effectively with the help of embedded AI, creating an additional USP that gives the customer maximum security. The right added value at the right time.

Please read the complete article at MMMaschinenmarkt (in German)