We are transforming into a service-based economy. In fact, two-thirds of the global GDP (and 77% of the US GDP) is now service-based. Much of this growth comes from a shift from selling products to selling products-as-a-service. Things we used to purchase from traditional manufacturers (lighting fixtures, hospital beds, jet engines, etc.) are now sold as services. You pay a monthly service charge, and the “as-a-service” vendor installs and maintains the equipment.
