User data drives IoT new business models and revenue opportunities

Standardized data connectivity across all devices and systems opens the door for many IoT new business model opportunities. Companies facing global challenges armed with remote connectivity are ahead of the game and able to pivot to remote resolution and predictive service for optimized end user productivity. Monitoring your customers’ usage patterns and capacity utilization creates opportunities for consumables sales, as well as “pay by use” models that reduce upfront CapEX requirements for your customers.

PTC customers focused on driving revenue growth through new lines of business have found success with the following IoT new business models:

Product as a Service (PaaS)

Product as a Service shifts the value from physical products to the usage and productivity of your equipment. See how PaaS can expand your customer base and create new revenue streams.

Consumables Fulfillment

Optimize revenue from consumables by automating resupply for end users based on their usage patterns. Use connected products to service customers with accurate, predictive replenishment of consumable supplies.

Overall equipment effectiveness

Become a partner in your customers’ success. Market smart connected assets that will help them improve their OEE metrics.

Drive Service Revenue

Understand system uptime and performance to specification to adapt your service offering and create higher-level SLAs from improved service levels.

IT/OT Convergence

Remove the silos between customers’ IT and OT systems for flexibility that enables site-wide, product-agnostic monitoring—and leads to service revenue growth.

Building new business models with PTC

By addressing customer issues with innovative digital solutions, PTC customers are rethinking the status quo to discover new business models.

Colfax

Colfax enabled its ESAB line of business with enhanced product functionality by using PTC IoT technology to analyze and improve product performance through a connected service framework.

Read the Colfax Story

Bell and Howell

Bell and Howell reinvented service with a 92% first-time fix rate by using PTC technology to remotely monitor, diagnose, and maintain their customer products.

Follow Bell & Howell’s Journey

ESAB

ESAB doubled its customer’s equipment utilization by using PTC’s IoT solutions to unlock efficiencies across products, processes, and people.

Read ESAB Case Study

Sysmex

Sysmex is improving product performance and utilization for their customers using PTC’s ThingWorx platform to deliver smart, connected products.

See Sysmex Transformation

Explore IoT new business model strategies

Start using connectivity to open up new business models.

Connected Service Innovation

IDC produced this survey-driven report that explores how today’s industrial leaders are improving product and service value based on IoT connectivity.

Get IDC’s Report

Start Your IIoT Service Strategy

This infographic outlines the steps to success when implementing industrial IoT technology into your business strategy, and best practices to accelerate your time to value.

Interactive Service Infographic

Maximizing Industrial Throughput

Whether you’re looking to boost your own productivity or deliver industrial machinery to help your customers’ efficiency, discover digital solutions to help you reach your goals.

Improving Throughput

Building Customer Value

Hear from experts at IDC as they discuss how IIoT innovation unlocks value across the enterprise, including leveraging usage data to improve product design.

Watch Webcast Replay