The Internet of Things (IoT) can facilitate the transition of heavy equipment like construction supplies to a subscription model by enabling the tracking and monitoring of the usage of these equipment. IoT devices can collect data on how, when, and where the equipment is being used. This data can then be used to create flexible and customized subscription plans based on the actual usage of the equipment. Furthermore, IoT can also help in predictive maintenance of the equipment, thereby reducing downtime and increasing customer satisfaction.
Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sal...
View summary