According to IDC forecasts, the market for connected and intelligent systems will increase from more than 3.2 billion units and USD 1.4 trillion in revenue in 2012, to nearly 5.0 billion units and over USD 2.3 trillion in revenue by 2017. Enterprises across industries, from transportation to utilities to healthcare to manufacturing, are already witnessing a sea change in the way they interact with customers, thanks to the cutting-edge benefits of IoT and connected device solutions. Business functions that have a direct effect on customer satisfaction and retention experience the greatest impact of connected devices.
In addition to expertise in digital technologies and understanding of after-sales processes, organizations need access to predictive analytics, optimization techniques and a connected equipment infrastructure platform. Such a platform enables easy development and deployment of IoT applications and also provides robust and scalable device management.
While there may be differences in how research firms evaluate the IoT market opportunity, there is consensus that the major portion of revenues in the IoT space will come from value-added services. Smarter after-sales service and support using Digital and IoT technologies is one of the compelling use cases that have the potential to provide a long term competitive advantage to equipment manufacturers.
How organizations deploy smart services and solutions depends on their maturity levels. Some companies have been using foundational services for several years and may require supporting expertise in the value-added and advanced services. Other high tech manufacturers who may have just embarked on this journey can create long term blueprints for these solutions, exploring a standardized way for devices to communicate.
In this white paper, we discuss the following:
- Market Trends and IoT Insights
- IoT as an Enabler of Digital Transformation
- Current Challenges in Deploying Smart Solutions
- A Framework for Deploying Connected Equipment
- Core Features of a Connected Equipment Platform
- Key Considerations for Deploying an After-Sales Framework