The Industrial Internet of Things (IIoT) is changing the way goods are planned, produced, sold and used. Manufacturers are moving from traditional hardware-centric business models to new digital business models that leverage the value of software, data and services.

This trend is especially apparent in industrial automation, where manufacturers are under increasing pressure to innovate, maximize revenue and deliver an excellent customer experience.

Manufacturers that successfully make the IIoT shift gain a competitive edge by:

  • Continuously delivering new functionality, services, product improvement and smart data
  • Easily adapting products and features to customers’ needs
  • Provisioning new functionality faster, with less effort and cost
  • Reducing expensive downtime and support costs with predictive and preventive maintenance

And as they shift, the monetization opportunity of a one-off hardware sale blossoms into multiple monetization opportunities with the as-a-service model.

Download this white paper to learn the realities of IIoT and review the 7 key success factors for software monetization.

7 Steps to Grow Profits in Industrial Automation