Implications of COVID-19 and outlook for industrial machinery

COVID-19 is accelerating the adoption of industrial machinery solutions to keep up with shifting customer expectations and rising costs and competitive pressures. Outcome-based products and products as a service are shifting the balance of products to services, as manufacturers’ needs change to accommodate sustainability initiatives and COVID-19 financial impacts and push to drive total customer value.

New market entrants are also driving increased innovation in products with connectivity, remote service, and customer self-service. Expansion into new markets and increasing regulatory requirements in existing markets are improving product complexity to ensure compliance. Here are some of the challenges PTC is helping your industry to solve: