Industry Insights to Help You Capitalize on the Economic Impact of Smart, Connected Products
Products have evolved from purely mechanical and electrical components to complex systems that are increasingly connected to the Internet and each other. The emergence of these smart, connected products in the Internet of Things (IoT)—and the rapidly expanding universe of capabilities that derives from automated machine to machine (M2M) interaction—will create new forms of value for manufacturers and their customers.
This transition isn’t happening in a bubble; analysts and governments alike are realizing the potential IoT economic impact, and encouraging manufacturers to adapt their business models to maximize their participation in the industrial internet. In Europe, Industry 4.0 is establishing a long-term IoT vision, while the US is doing much the same with the Industrial Internet Consortium.
To capitalize on the business opportunities and the IoT economic impact presented by the smart, connected products, discrete manufacturers will have to look at the way they develop, service, and even sell their products in new ways.
PTC will use this page as a forum to share thought leadership content, industry perspectives, and research publications that highlight the different pathways to product and service advantage. Our goal is to help manufacturers to make sense of the explosion of information around the industrial internet; to separate the signal from the noise as it pertains to smart, connected products, Industry 4.0 and other M2M business models.
How the Internet of Things Could Transform the Value Chain
McKinsey Interview – December, 2014
Why does the Internet of Things matter? What’s the value of placing sensors in mining equipment to measure product performance and operating conditions? Or giving “smart pills” to cows to monitor their vital signs? In these short videos, the CEO of PTC, James Heppelmann, explains how the network of smart, connected technologies that make up the Internet of Things improves how products are created, operated, and serviced. Watch the videos on McKinsey.com ›
Smart, Connected Products: Manufacturing’s Next Transformation
Oxford Economics – October, 2014
Smart, Connected Products—the “Things” in the Internet of Things—are expected to power the next wave of manufacturing. Based on interviews with 300 executives at manufacturing companies, Oxford Economics presents statistical insights into manufacturers who have already made the transition to building, operating and servicing smart, connected products. Request to download the report ›
IT Embraces Smart, Connected Products to Transform Manufacturers
Computerworld/IDG Research - July, 2014
Significant opportunities and challenges await the IT leaders at companies that embrace the Internet of Things, according to a recent IDG Research Services survey of 300 IT decision-makers at manufacturers worldwide. While IT leaders will benefit from greater involvement in product development and overall strategy, they also must be wary of the risks associated with underestimating challenges like connectivity, application development, and time to value. Request to download this report ›
Connecting People, Products and Technology in a Collaborative Service Culture
Strategies for Growth - October, 2014
Connected products have become a requirement for successful services delivery. With survey data from over 1,800 services executives and managers, this report demonstrates the competitive advantages enjoyed by connected product solution users, from meeting customer demands to improving productivity and asset delivery. Request to download this report ›
The Internet of Things: Transforming Manufacturing
Manufacturing Leadership Journal—June, 2014
The IoT’s potential to catalyze the reinvention of traditional business models—driving new value creation through the emergence of smart, connected products—is itself an extension of the Forces of Transformation that PTC has identified as being critical to the future of manufacturing. In this article, Jim Heppelmann, President and CEO of PTC, describes how the combination of disruptive forces like connectivity and the proliferation of software-intensive products will shift value from hardware to software, and from products to the cloud and services. Download the article ›
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