Content subscription services like Netflix, Prime Video and Spotify have drawn in millions of customers with their no-hassle approach of fixed monthly fees for unlimited access to music, films or TV box sets.
A similar business model is now successfully being pursued by manufacturers of building products, including lights, lifts, air-conditioning systems, and even plants, which they claim can not only cut costs for building owners and managers, but also provide better levels of performance and sustainability.
The Products-as-a-Service (PaaS) concept comes in different forms, but the general idea is customers pay a regular fee for a guaranteed level of performance, whether that’s for light, cooling, or air quality etc, and all responsibility for product purchasing, installation, upkeep, and ultimately removal is transferred to the manufacturer.
Apart from helping end-users avoid upfront capital costs, the model aligns well with sustainability principles...