Equipment as a service (EaaS) is a newer concept in comparison with the commonly used software as a service (SaaS). SaaS helps customers to use cloud-based software on a subscription basis. For instance, the growing usage of OTT platforms such as Netflix can be used without having to own it.
Such developments have bought in the realms of productivity and efficiency in various industries. In current times, some factories that print their own product using 3D printing and machines notify their operators about their failure. Such industry 4.0 solutions have given rise to the latest business model of EaaS in factories.
Initially, EaaS was not widely adopted as the systems could not predict accurate system failures. However, EaaS gained momentum over the recent past due to the introduction of the industrial Internet of things (IIoT) such as artificial intelligence, predictive maintenance, and Internet of things (IoT) solutions. In scenarios where pay-per-use wasn’t reliable, adoption rates of IIoT surged making pay-per-use a vital solution for manufacturers.
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Equipment-as-a-Service Market: Market Dynamics
Internet of Things Continues Create to Lucrative Opportunities for Market Players
Mounting disruption and digitalization are offering lucrative opportunities for enterprises with revolutionary business models making their way to the market. One of the major factors showing tremendous promises is the integration of IoT technology and equipment with aspects of the SaaS model.
With the emergence of cloud computing, SaaS became popular amongst users as it offered software access for a subscription fee along with upgrades and maintenance by software companies.
Maintaining Configuration Complexity Hindering Market Growth
Configuration complexity has been an ever-increasing problem for years. In the past, many elements of system configuration such as the operating system, hardware, storage & database, and applications were easily and simply tied together in a single system.
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The report covers exhaustive analysis on
• Equipment-as-a-Service Market Segments
• Equipment-as-a-Service Market Dynamics
• Equipment-as-a-Service Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Technology Landscape
• Value Chain of the Market
• Market Drivers and Restraints
• Detailed overview of parent Equipment-as-a-Service market
• Changing Equipment-as-a-Service market dynamics in the industry
• In-depth market segmentation
• Historical, current, and projected market size in terms of value
• Recent industry trends and developments
• Competitive landscape of Equipment-as-a-Service Market
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint
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