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Thanks to human ingenuity, the industrial revolution started in the UK in the 19th century. Steam engines were produced and a new era of easy mobility arose, followed by chemistry innovations and mass production leading to the switch from an artisanal society to an industrial one. It brought comfort and a safe environment for the population to grow in a prosperous time.
As per Insee definition, the manufacturing industries are industries transforming goods, meaning mainly manufacturing industries in their own right, but also the ones concerning the repair and installation of industrial equipment and subcontracting operations for third parties.
From textile to metal, wood to chemistry products, the domains are so varied that one can easily imagine how different the related required industrial equipment and machinery are. What they have in common though is their contribution to transforming raw material into a functional product.
Inevitable and participating in the daily production activities, industrial equipment are expected to provide efficiency, durability and reliability to the manufacturing industries. By decreasing the human resources within factories, the pandemic has stressed the necessity of such equipment.
The financing of industrial machinery could impact the balance sheet of those industries who may not want to carry the burden of high investment cost, employee training and maintenance planification.
Thanks to their technology that has tremendously evolved in the past years, industrial equipment is now eligible to the As-A-Service solutions that emerge as a win-win for both their manufacturers and customers. The collection and analysis of data picturing the customer usage profile can now help the equipment manufacturer to design such offers.
The As-A-Service solution can then answer both the question of costs and benefits for the end customer but also bring the manufacturer reassurance of a recurring revenue in a controversial economic period. Directly inspired by the current customer’s mindset shift from ownership to usership observed in various domains, the manufacturing industry might see the benefits of adopting an economic model based on equipment outcome.
The As-A-Service model appears to fit the end customer results expectations via payment solutions such as pay per use while providing the manufacturers a great opportunity to meet with its environmental responsibilities entering the valuable circular economy.
Following the series of our previous publications, this white paper proposes to give you insights on the whole manufacturing industry and its move towards the As-A-Service offers.