Whilst product sales typically provide a single revenue event, manufacturers are now developing recurring revenue streams through IoT enabling their products.
The benefit of connected products is that they widen a manufacturer’s portfolio to include on-going services.
However, such diversification is reliant on a manufacturer establishing both a technical and non-technical infrastructure to support the service. For example, IoT enablement requires the connectivity of equipment to networks, cloud services, payment processes, customer support personnel, to name just a few.
Whilst these are new challenges for the majority of OEMs, notiria has experience and solutions to support such expansions.