The Rise of Product-as-a-Service Models in the Digital Era

Abstract

This chapter delves into the rise of Product-as-a-Service (PaaS) models in the digital age and their pivotal role in fostering circular innovation. As environmental concerns and resource scarcity grow, businesses rethink traditional ownership-based models. PaaS emphasizes access over ownership, allowing companies to retain control of products while offering usage-based services. This transition, enabled by digital technologies such as IoT, AI, and big data, extends product lifecycles, enhances resource efficiency, and minimizes waste. This chapter demonstrates how PaaS can drive sustainable business models and circular economies by examining sectoral applications and real-world case studies.