As machine manufacturers navigate the shift toward Industry 4.0, the integration of digital products alongside traditional physical goods has become a strategic imperative. However, the rollout of digital products creates the need to develop business models supporting the monetization of these digital products. This paper aims to derive key characteristics of business models supporting digital products. Through a combination of expert interviews with industry professionals—including product managers, business developers, and sales managers—and a literature review, a framework of business model aspects for digital products is proposed. The categorization is conducted using Gassmann’s four business model dimensions: value proposition, value chain, revenue model, and target customer. The research identifies six distinct types of digital products, ranging from machine bundles to self-adjusting subscriptions fulfillment. This differentiation is crucial for the effective monetization of digital products and the maximization of their potential in evolving industrial digitalization.