NOW IS THE TIME TO DELIVER IOT-ENABLED PRODUCT SERVITIZATION TO MANUFACTURERS
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About the Report
Manufacturers of industrial equipment and assets are increasingly choosing to expand their offerings and package broader hardware, software, and services solutions in an as-a-subscription model. The rise of Internet of Things (IoT) solutions and improved access to asset data is now facilitating the creation of Equipment-as-a-Service (EaaS) models for asset-intensive manufacturers. This practice is referred to as product servitization.
Yet, manufacturers often struggle with making headway in these offerings by underestimating the commercial business maturity and the customer understanding that is really needed.
According to Gartner, “Asset-intensive manufacturers often fail to meet the needs of their customers when enabling product servitization due to a lack of due diligence in classifying asset and product form-fit-function characteristics and operating conditions.”1
Read this report to learn how to address and overcome these challenges by creating target EaaS profiles for your customers and by leveraging a product servitization “adoption matrix” to determine the readiness of their assets.
1Source: Gartner, Now Is the Time to Deliver IoT-Enabled Product Servitization to Manufacturers, Scot Kim, Eric Goodness, 13 May 2022.
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