Equipment as a Service (EaaS) is an industrial Internet of Things (IoT) solution that doesn’t just increase recurring revenue, it opens the door to more business opportunities. EaaS allows OEMs to essentially loan out their equipment, so that their machine users and contracted partners pay a monthly fee to use the machine instead of buying and owning it outright. This benefits the OEM by increasing their monthly revenue and benefits the machine user by giving them access to the OEMs industrial IoT services like remote maintenance, data, analytics and more.

Already, you can see that EaaS creates opportunities for OEMs, but recurring revenue is just the beginning.

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