The New PaaS
The Internet of Things (IoT) enables a new class of service – Product as a Service. A world where devices, things, appliances, objects become a service being offered. This had started at the high end of market many years ago even before IoT went mainstream and technology analysts forecasting numbers on the “billions” of devices that would be connected. A great example was that of Rolls Royce and its airplane engine division that even before 2009 was generating significant service revenue by monitoring the jet engines while in flight: Britain’s lonely high-flier.
Imagine a world where you don’t pay for the light bulbs or doors or HVACs upfront but you pay monthly – it sounds preposterous – doesn’t it? Take it a step further – home builders could bundle all these services – team up with a finance company and include it all in a single lease? It does sound preposterous but attempts of this nature are real. Consider what BMW & Solar City are doing – buy an EV from BMW, and you can have Solar Power included in your lease – it is the value being generated by connecting and controlling everything!