The Financial Blueprint for a Successful Hardware-as-a-Service Business

Watch a recording of this exclusive webinar for updates on new features such as SSH tunneling, security enhancements, ecommerce updates, and other recent features, along with exciting upcoming developments on device management and customer experience.

Forward-thinking device manufacturers across multiple industries are taking advantage of always-on cellular connectivity to ensure frictionless customer experiences while offering integrated solutions and increasing their margins. With continuous connectivity everywhere, manufacturers of equipment as diverse as smart streetlights to digital signage to autonomous vehicles can offer a continuum of value-added digital services. In the era of digitalization, how can device manufacturers leverage their current fleet of devices to develop high-margin services as a new growth engine?

Usage-based pricing is a consumption-based pricing model in which customers are charged only when they use a product or service, aligning the value customers receive with the price they pay. A growing number of software companies have transitioned to usage-based pricing models, many of whom now outperform the general SaaS public indices. Here are some lessons hardware manufacturers interested in transitioning to usage-based pricing can learn from their software counterparts.