IIoT and evolving business models are changing how OEMs operate
Over the last 20 years, the adoption of digital, IoT, and smart systems has grown steadily, making digital transformation real for industrial organizations around the world. Digital transformation is no longer just a buzzword, but a strategic pillar for how businesses operate today. For OEMs, digital transformation is creating complexity amongst industrial equipment and systems which, in turn, is creating a unique opportunity for equipment manufacturers to capitalize on service value. In today’s world, that service value—enabled by technology—is evolving faster than traditional equipment manufacturing business models. In fact, industry experts predict that the growth of higher value engineered and technical services will outpace growth of basic maintenance and installation services in the OEM industry. This growth is being driven by customers’ needs for planning, designing, building, and managing these progressively complex systems—creating new sources of value for OEMs to expand their businesses.
To learn more about how OEMs can leverage IIoT to transform after-sales service, you can watch the webcast on-demand.