{"id":16789,"date":"2023-09-18T10:01:41","date_gmt":"2023-09-18T08:01:41","guid":{"rendered":"https:\/\/www.chetwode.fr\/?p=16789"},"modified":"2023-09-18T10:18:40","modified_gmt":"2023-09-18T08:18:40","slug":"what-is-the-usage-economy-in-the-industrial-sector-and-what-are-its-advantages","status":"publish","type":"post","link":"https:\/\/www.chetwode.fr\/en\/whats-new\/what-is-the-usage-economy-in-the-industrial-sector-and-what-are-its-advantages\/","title":{"rendered":"What is the &#8220;usage economy&#8221; in the industrial sector and what are its advantages?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"16789\" class=\"elementor elementor-16789\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d3e4549 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"d3e4549\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-b0b80ee\" data-id=\"b0b80ee\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-e405ab0\" data-id=\"e405ab0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fb53915 de_scroll_animation_no elementor-widget elementor-widget-heading\" data-id=\"fb53915\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Newsroom<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-6af328e\" data-id=\"6af328e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e019ea3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e019ea3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-3f37ae9\" data-id=\"3f37ae9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-52cb995 de_scroll_animation_no elementor-widget elementor-widget-heading\" data-id=\"52cb995\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Finance glossary<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6428b8c de_scroll_animation_no elementor-widget elementor-widget-spacer\" data-id=\"6428b8c\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b49d12 de_scroll_animation_no elementor-widget elementor-widget-heading\" data-id=\"4b49d12\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">What is the &#8220;usage economy&#8221; in the industrial sector and what are its advantages?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2683260 de_scroll_animation_no elementor-widget elementor-widget-image\" data-id=\"2683260\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"768\" height=\"629\" src=\"https:\/\/www.chetwode.fr\/wp-content\/uploads\/Quest-ce-que-leconomie-dusage-dans-le-domaine-industriel-et-quels-sont-ses-avantages--768x629.jpg\" class=\"attachment-medium_large size-medium_large wp-image-16777\" alt=\"Qu\u2019est-ce que l\u2019e\u0301conomie d\u2019usage dans le domaine industriel et quels sont ses avantages ?\" srcset=\"https:\/\/www.chetwode.fr\/wp-content\/uploads\/Quest-ce-que-leconomie-dusage-dans-le-domaine-industriel-et-quels-sont-ses-avantages--768x629.jpg 768w, https:\/\/www.chetwode.fr\/wp-content\/uploads\/Quest-ce-que-leconomie-dusage-dans-le-domaine-industriel-et-quels-sont-ses-avantages--300x246.jpg 300w, https:\/\/www.chetwode.fr\/wp-content\/uploads\/Quest-ce-que-leconomie-dusage-dans-le-domaine-industriel-et-quels-sont-ses-avantages--1024x838.jpg 1024w, https:\/\/www.chetwode.fr\/wp-content\/uploads\/Quest-ce-que-leconomie-dusage-dans-le-domaine-industriel-et-quels-sont-ses-avantages--1536x1257.jpg 1536w, https:\/\/www.chetwode.fr\/wp-content\/uploads\/Quest-ce-que-leconomie-dusage-dans-le-domaine-industriel-et-quels-sont-ses-avantages--2048x1677.jpg 2048w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0850ad8 de_scroll_animation_no elementor-widget elementor-widget-text-editor\" data-id=\"0850ad8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>The usage economy, also known as the &#8220;economy of functionality&#8221;, is an innovative economic model in the industrial sector.<\/strong> This innovative model is part of a drive to develop a &#8220;greener&#8221; and more &#8220;sustainable&#8221; industry. It consists of offering the use of a product rather than its possession. This is different from the traditional approach, where the emphasis is on owning assets. The aim here is to develop solutions that will be integrated into goods or services.<\/p><p>In this article, we will first take a closer look at the definition of the user economy, then explain how it differs from the traditional model, and finally look at the various possible advantages for manufacturers.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ad2222c de_scroll_animation_no elementor-widget elementor-widget-heading\" data-id=\"ad2222c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1. What is the definition of the usage economy? \n\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2ad4b3e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2ad4b3e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-1648fe2\" data-id=\"1648fe2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9dbb50c de_scroll_animation_no elementor-widget elementor-widget-spacer\" data-id=\"9dbb50c\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9f435aa de_scroll_animation_no elementor-widget elementor-widget-heading\" data-id=\"9f435aa\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Definition <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bdd4df8 de_scroll_animation_no elementor-widget elementor-widget-text-editor\" data-id=\"bdd4df8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The <a href=\"https:\/\/www.ecologie.gouv.fr\/leconomie-fonctionnalite\" target=\"_blank\" rel=\"noopener\">usage economy<\/a> is an innovative business model in the industrial sector. It consists of encouraging <a href=\"https:\/\/www.chetwode.fr\/en\/whats-new\/why-implement-an-equipment-as-a-service-solution-example-with-our-partner-solfiz\/\" target=\"_blank\" rel=\"noopener\">use<\/a> rather than possession, thereby enabling the development of a more circular economy. The way the economy works is no longer based on the ownership of goods. The equipment remains the property of the manufacturer throughout the product&#8217;s life cycle, and the manufacturer offers to pay users according to how the equipment is used. This model is different from leasing, because it has a sustainable development objective.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ba998ec de_scroll_animation_no elementor-widget elementor-widget-heading\" data-id=\"ba998ec\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">A few examples<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a1263b de_scroll_animation_no elementor-widget elementor-widget-text-editor\" data-id=\"4a1263b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Let&#8217;s look at two examples to illustrate the concept of the usage economy.<\/p><p>First, let&#8217;s take the example of Clarlight. The company offers companies lighting without having to invest in equipment, with an all-inclusive service. Clarlight&#8217;s lights perform better and last longer. They adapt to natural light and the presence of people. What&#8217;s more, these lights provide consumers with energy balances so that they can intervene quickly for maintenance. In this way, Clarlight is working to reduce the consumption of energy resources and to manage waste.<\/p><p>Michelin has also produced this model. The company has put in place a usage economy offer for heavy goods vehicles. The aim is to offer an economic model based on kilometres travelled instead of traditional tyre sales. These tyres are eco-designed to improve durability and performance. In addition, Michelin offers solutions that take care of the entire management of truck and bus tyre components, with the aim of saving fuel and helping drivers to drive more responsibly.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4e44a2c de_scroll_animation_no elementor-widget elementor-widget-spacer\" data-id=\"4e44a2c\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b22b50 de_scroll_animation_no elementor-widget elementor-widget-heading\" data-id=\"4b22b50\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2.\tWho are the parties concerned by the economy of use?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71753c3 de_scroll_animation_no elementor-widget elementor-widget-spacer\" data-id=\"71753c3\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7348a2e de_scroll_animation_no elementor-widget elementor-widget-text-editor\" data-id=\"7348a2e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The use economy has two parts:<\/p><ul><li><strong>Firstly, we can find companies that offer goods for use called &#8220;suppliers&#8221;.<\/strong> These companies manufacture and offer goods but do not sell them directly. They offer rental or subscription contracts so that customers can use their goods on a temporary basis. These companies are responsible for the maintenance and continuous improvement of their service. Their business model is based on building customer loyalty in order to generate recurring revenue.<\/li><li><strong>Then there are the companies that use the goods: &#8220;customers&#8221; or &#8220;users&#8221;.<\/strong> Customers do not buy goods directly, but only access to their use. They pay for the goods on the basis of actual use, in the form of a subscription for example. This allows them to concentrate on their core business without having to update the assets and without any upfront costs.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5feee4c de_scroll_animation_no elementor-widget elementor-widget-spacer\" data-id=\"5feee4c\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-883f547 de_scroll_animation_no elementor-widget elementor-widget-heading\" data-id=\"883f547\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">3.\tWhat are the principles that differentiate the usage economy from traditional marketing? \n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ee871e de_scroll_animation_no elementor-widget elementor-widget-text-editor\" data-id=\"3ee871e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Here are the differentiating principles for suppliers:<\/p><ul><li><strong>Corporate responsibility<\/strong>: this model gives responsibility to those who adopt it, as they must improve the sustainability and ecological impact of their solutions in order to increase their sales.<\/li><li><strong>Continuous innovation:<\/strong> companies are constantly looking for ways to improve the usability of their products in order to reduce costs.<\/li><li><strong>Waste reduction<\/strong>: products produced using the use economy model are more durable and repairable, giving companies a long-term financial advantage. It is in the interests of the user economy model to develop durability so that the good or service can be used for longer, unlike the traditional model.<\/li><li><strong>Longer-lasting customer relationships<\/strong>: companies using this model aim to build customer loyalty. Good relations between them are therefore at the heart of what is at stake.<\/li><\/ul><p>Then, for users:<\/p><ul><li><strong>Offering services rather than products<\/strong>: the user economy focuses on the creation of services associated with products, as opposed to traditional purchases. For example, subscribing to a hire service for machines gives access to support in maintaining them.<\/li><li><strong>Pay-per-use<\/strong>: users pay for their product or service according to their exact usage, enabling them to manage their costs as effectively as possible. The model can be a subscription or a payment based on usage over a given period of time, for example.<\/li><li><strong>Creating value for both parties<\/strong>: it is in the interests of both companies and customers to develop efficient use at optimum cost.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-a530dd9 de_scroll_animation_no elementor-widget elementor-widget-spacer\" data-id=\"a530dd9\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e8ce60a de_scroll_animation_no elementor-widget elementor-widget-heading\" data-id=\"e8ce60a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">4. What are the benefits for industry? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ae704df de_scroll_animation_no elementor-widget elementor-widget-spacer\" data-id=\"ae704df\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0dedfa7 de_scroll_animation_no elementor-widget elementor-widget-text-editor\" data-id=\"0dedfa7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Benefits for suppliers:<\/strong><\/p><ul><li><strong>Sustainability for the environment<\/strong>: companies that adopt the use economy reduce their waste as well as their carbon footprint, which helps to preserve the environment.<\/li><li><strong>Optimised resource management<\/strong>: companies make better use of their resources by reducing overproduction, as they can fine-tune their equipment utilisation rates.<\/li><li><strong>Creation of new jobs<\/strong>: economies of use help to create jobs in services, repair and maintenance.<\/li><li><strong>Profitability for manufacturers<\/strong>: subscriptions enable recurring purchases, thereby increasing their long-term viability. What&#8217;s more, additional services such as maintenance boost revenue.<\/li><\/ul><p><strong>Benefits for users:<\/strong><\/p><ul><li><strong>Optimised costs<\/strong>: users manage their usage according to their needs, so they have better control over their budget.<\/li><li><strong>Perpetual innovation<\/strong>: users get a better quality of service because suppliers are constantly innovating to ensure that their products last and are financially recurrent.<\/li><\/ul><p>\u00a0<\/p><p>In conclusion, the user economy model is very different from the traditional marketing model, which represents a significant change for industrial products and services. The advantage is that it offers greater sustainability and efficiency for products by providing services rather than just marketing.<\/p><p>This new model is becoming increasingly popular and could well become the model of choice. It is vital that companies continue to propose new economic models such as the use economy in order to work towards a more sustainable future.<\/p><p>\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-d053e0c vertical-line-divider\" data-id=\"d053e0c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-461b194 de_scroll_animation_no elementor-widget elementor-widget-spacer\" data-id=\"461b194\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-ad98b7d\" data-id=\"ad98b7d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a6f3a3b ekit-equal-height-disable de_scroll_animation_no elementor-widget elementor-widget-elementskit-icon-box\" data-id=\"a6f3a3b\" data-element_type=\"widget\" data-widget_type=\"elementskit-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <!-- link opening -->\n                <!-- end link opening -->\n\n        <div class=\"elementskit-infobox text-center text- icon-top-align elementor-animation-   image-active\">\n                    <div class=\"elementskit-box-header elementor-animation-\">\n                <div class=\"elementskit-info-box-icon  \">\n                    <i aria-hidden=\"true\" class=\"elementkit-infobox-icon icon 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known as the &#8220;economy of functionality&#8221;, is an innovative economic model in the industrial sector.<\/p>\n","protected":false},"author":6,"featured_media":16776,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[45,24],"tags":[47],"class_list":["post-16789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vendor-finance","category-whats-new","tag-finance-glossary"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is the &quot;usage economy&quot; in the industrial sector and what are its advantages?<\/title>\n<meta name=\"description\" content=\"In this article, you can find out more about the benefits of industrial usage economy efficiency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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