How do remote condition monitoring with remote service solutions empower manufacturers to build new revenue streams?
Using the industrial IoT opens machines builders up to a new world ripe with opportunities to implement new business models and revenue streams. Currently, once a machine is in the field, support from OEMs can often be viewed as costly and inconvenient. This results in customers using in-house service technicians or 3rd parties to maintain machines. With the customer’s preference of a “one and done” machine sale, there is little loyalty to the OEM. However, OEMs have an opportunity to change the narrative through digitalization.