What is Product-As-A-Service?
Product-As-A-Service (PaaS) is a transformative business model where customers pay for the outcomes or utility of a product rather than owning it, shifting the focus to performance, sustainability, and flexibility. Unlike traditional models like leasing, rentals, or payment plans, PaaS emphasizes lifecycle management, performance-based pricing, and enhanced customer experience, often including options for pay-per-use. By aligning with circular economy principles, PaaS not only fosters innovation and deeper provider-customer relationships but also addresses growing demands for environmental and resource efficiency.