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Unlocking the benefits of opex model for industrial customers

14 MINS READ

Santanu Sur

Domain Consultant with Connected Worker

Highlights

  • Oil and gas facilities have expensive assets that are often located in desolate places and need specialized workforce for maintenance.
  • With the advent of sensing technology, IoT, cloud, big data, machine learning, and artificial intelligence, OEMs are now better equipped to monitor their self-built assets.
  • The whitepaper proposes key strategies and business models for energy companies to envisage and benefit from, such as the capex to opex and the machine-as-a-service models. 
  • The opex model reduces the cost burden for OEMs, can be deployed on-demand, thereby reducing the lead time of deploying new and improved products and helps OEMs stay relevant in volatile markets.
  • IoT-enabled smart production centers and refineries will enable adoption of the machine-as-a-service model, as it lowers capital expenditure and helps set up plants quickly.