Digital Twins and Product-Service Systems are just two of the recent trends in product development. While many presented approaches seem promising, their implementation often face challenges. This is especially true if existing approaches are transferred onto new applications. Diving into these topics this paper presents the basics but also challenges as well as synergies emerging between them. The objective is set, to move from specialised applications to broader approaches that can provide benefit to a range of applications and ease the entrance, particularly, for smaller enterprises.