Manufacturers and businesses have typically focused on selling physical products in a one-time transaction. Product-As-A-Service combines physical products, related services and monitoring/management software (IoT) to enable new offerings where the buyer may no longer own a physical thing—instead the product is delivered only as service. Instead of a one-time-transaction the customer subscribes to the product and pays a recurring fee. An example of Product-As-A-Service is tire as a service. Instead of buying the actual physical tire you pay a