In the realm of global commerce, Europe has long been renowned for its exceptional hardware products, dominating markets with its machine tools and luxury automobiles. However, it has lost the Internet game and consumes almost all Internet services from the USA and has China on the rise in all dimensions. However, with the emergence of the Internet of Things, the convergence of hardware-based products with software-based services offers a new avenue for success.

Understanding Products as Services discusses how to succeed in the emerging hybrid economy, in which the term ‘hybrid’ represents the mixture of digital and physical products and services that is required to offer a state-of-the-art customer experience. The authors do not rely on lofty concepts but propose tangible and validated tools.

Whether you are an industry professional, an entrepreneur, a business student, or a researcher, Understanding Products as Services serves as an indispensable guide for navigating the hybrid economy, enabling you to leverage the integration of hardware and software, and propel your organization to the forefront of innovation and success.

Felix Wortmann is Professor and Senior Lecturer for Technology Management at the University of St. Gallen (HSG). His research focuses on the Internet of Things, machine learning, and data-driven business models in manufacturing, mobility, health, and energy.

Heiko Gebauer Visiting Professor at Linköping University, Sweden; Fraunhofer IMW and Bosch IoT Lab associate.

Claudio Lamprecht is Senior Associate at Strategy& Switzerland. Previously he was PhD candidate at the Bosch IoT Lab at the University of St. Gallen where he investigated Equipment-as-a-Service business models.

Elgar Fleisch is Professor of Information and Technology Management at ETH Zurich and University of St. Gallen (HSG). Elgar Fleisch and his team are aiming at understanding and designing the ongoing merge between the physical and digital world, focusing on applications, social & economic impacts, and infrastructures of mobile and ubiquitous computing.