Global Digital Services in Pumps Growth Opportunities

Global Digital Services in Pumps Growth Opportunities

Future Growth Potential and Revenue Streams for OEMs with Outcome-based Business Models Focused on Efficiency

RELEASE DATE
30-Sep-2021
REGION
Global
Research Code: K611-01-00-00-00
SKU: IA01626-GL-MT_25813
$4,950.00
In stock
SKU
IA01626-GL-MT_25813
$4,950.00
DownloadLink

Pay by invoice

ENQUIRE NOW

Description

Digital transformation is forming a core part of organization strategy across industry verticals to survive economic headwinds, adapt to dynamic market conditions, and remain relevant in an increasingly competitive global environment. Global pandemic, oil price volatility, political tensions, and climate action have further accelerated the need to invest and integrate in Industrial Internet of Things (IIoT) technologies. End users’ pressing need to cut down total expenditure (TOTEX) and operational expenditure (OPEX) to navigate through these uncertain economic conditions and at the same time increase productivity of existing plants to meet global demand have bolstered the demand for digital services. Real-time visibility of equipment operations and actionable insights derived from AI-powered analytics platform are imperative for end users to ensure continued production without any interruption and transition toward predictive maintenance.

In this digital services playbook, new growth avenues with IIoT technologies are identified and analyzed. IIoT 1.0, which includes connected components, connected machines, connected plant, and connected enterprises, is gaining traction with growing interest from end users across process, discrete, and hybrid industries. An assessment of the adoption rate, impact level, and growth propensity is covered in this research. Yet another disruption identified is the transition from IIoT 1.0 to the IIoT 2.0 digital solution. IIoT 2.0 refers to the shift in business model that delivers IIoT-based products and services with a unique pay-per-performance concept, where customers pay based on the outcome achieved. In this study, three digital solutions, maintenance-as-a-service, infrastructure-as-a-service, and efficiency-as-a-service are identified and analyzed. Future of pump OEMs and other value-chain participants is expected to be influenced by IIoT 2.0. IIoT 2.0, an untapped area that is yet to be explored, and offers plethora of growth opportunities for OEMs to distinguish and cement their market position.

As the shift to IIoT 2.0 is bound to transpire in the long run, this study provides insights on the key growth drivers offered by capitalizing on this new range of digital solutions. This research also discussed the roadblocks that prevent IIoT 2.0 implementation in the short, medium, and long term. An overview on the end-user perception toward IIoT-based digital solutions is offered to gauge end-user preferences, expectations, and the current IIoT solutions adopted in plants.

In addition, a list of digital practitioners is identified and mapped to the various IIoT 1.0 digital solutions covered in this research scope. This offers a pulse on the various leading solution providers, competitive overview, and market gaps that need to be addressed. Furthermore, an overview on new IIoT 2.0 digital solutions is offered to understand their unique value proposition, key features, and benefits achieved. The study also identifies and assesses 7 lucrative growth opportunities based on IIoT 2.0 digital solutions that pump OEMs and other vendors can monetize to unlock new revenue streams.

Author: Kiravani Emani

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
Click image to view it in full size

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on Digital Services in Pumps Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Digital Services in Pumps Market, Scope of Analysis

Market Segmentation

Market Definition

Market Definition (continued)

Market Segmentation by Region

Market Segmentation by End User

Key Competitors for Digital Services in Pumps Market

Key Growth Metrics for Digital Services in Pumps Market

Value Chain, Digital Services in Pumps Market

Distribution Channels, Digital Services in Pumps Market

Growth Drivers, Digital Services in Pumps Market

Growth Restraints, Digital Services in Pumps Market

Forecast Assumptions, Digital Services in Pumps Market

COVID-19 Implications on the Pumps Market

Revenue Forecast, Digital Services in Pumps Market

Revenue Forecast Analysis, Digital Services in Pumps Market

Revenue Forecast by Region, Digital Services in Pumps Market

Revenue Forecast Analysis by Region, Digital Services in Pumps Market

Revenue Forecast Analysis by Region, Digital Services in Pumps Market (continued)

Revenue Forecast Analysis by Region, Digital Services in Pumps Market (continued)

Revenue Forecast by Industry Vertical, Digital Services in Pumps Market

Revenue Forecast Analysis by Industry Vertical, Digital Services in Pumps Market

Revenue Forecast Analysis by Industry Vertical, Digital Services in Pumps Market (continued)

Revenue Forecast Analysis by Industry Vertical, Digital Services in Pumps Market (continued)

Revenue Forecast Analysis by Industry Vertical, Digital Services in Pumps Market (continued)

Revenue Forecast Analysis by Industry Vertical, Digital Services in Pumps Market (continued)

Revenue Forecast Analysis by Industry Vertical, Digital Services in Pumps Market (continued)

Revenue Forecast by Application, Digital Services in Pumps Market

Revenue Forecast Analysis by Application, Digital Services in Pumps Market

Competitive Environment, Digital Services in Pumps Market

Revenue Share, Digital Services in Pumps Market

Revenue Share Analysis, Digital Services in Pumps Market

Value Chain Participants, Digital Services in Pumps Market

Key Growth Metrics for Digital Services in Pumps Market, Americas

Revenue Forecast, Digital Services in Pumps Market, Americas

Revenue Forecast Analysis, Digital Services in Pumps Market, Americas

Key Growth Metrics for Digital Services in Pumps Market, EMEA

Revenue Forecast, Digital Services in Pumps Market, EMEA

Revenue Forecast Analysis, Digital Services in Pumps Market, EMEA

Key Growth Metrics for Digital Services in Pumps Market, APAC

Revenue Forecast, Digital Services in Pumps Market, APAC

Revenue Forecast Analysis, Digital Services in Pumps Market, APAC

Top 12 Market Trends Influencing the Pumps Market

Top 12 Market Trends Influencing the Pumps Market (continued)

Impact of IIoT Technologies on Digital Services in Pumps Market

Mega Trends Influencing Digital Services in Pumps Market

Transformational Themes Influencing Digital Services in Pumps Market

Transformational Themes Influencing Digital Services in Pumps Market (continued)

Evolution of Pumps Industry

Supply Chain Integration, Digital Services in Pumps Market

Value Chain Disruption, Digital Services in Pumps Market

Emerging Business Models, Digital Services in Pumps Market

Payment Business Model, Digital Services in Pumps Market

Payment Business Model, Digital Services in Pumps Market (continued)

Mapping of Payment Model with Business Model

Impact Assessment of IIoT 2.0

Complexity and Value Assessment of IIoT 2.0

Adoption of IIoT 2.0 by End-user Industry

List of Top Digital Service Providers

List of Top Digital Service Providers (continued)

List of Top Digital Service Providers (continued)

List of Top Digital Service Providers (continued)

List of Top Digital Service Providers (continued)

IIoT 1.0, Connected Components

IIoT 1.0, Connected Machines

IIoT 1.0, Connected Plant

IIoT 1.0, Connected Enterprise

IIoT 2.0, Maintenance-as-a-Service

1. Digital Asset Maintenance

I. Digital-twins-driven Connected Pumps

II. Wearable-based Digital Field Services

2. Parts Certainty-as-a-Service

IIoT 2.0, Infrastructure-as-a-Service

1. Flow Management-as-a-Service

2. Pumps-as-a-Service

IIoT 2.0, Efficiency-as-a-Service

Digital Energy-Efficiency Benchmarking

Adoption of IIoT Solutions

Adoption of IIoT Solutions by End Users

Adoption of IIoT Solutions by End Users (continued)

Pitfalls to Adoption of Digital Services

End-user Requirement Analysis

Growth Opportunity 1—Digital Twin Technology for Enhancing Pump Lifetime and Productivity, 2022–2028

Growth Opportunity 1—Digital Twin Technology for Enhancing Pump Lifetime and Productivity, 2022–2028 (continued)

Growth Opportunity 2—Pumps-as-a-Service for Unlocking New Revenue Stream and Bolstering Customer Engagement, 2022–2028

Growth Opportunity 2—Pumps-as-a-Service for Unlocking New Revenue Stream and Bolstering Customer Engagement, 2022–2028 (continued)

Growth Opportunity 3—Flow Management-as-a-Service for Addressing Critical Customer Needs and Expanding Customer Base, 2022–2028

Growth Opportunity 3—Flow Management-as-a-Service for Addressing Critical Customer Needs and Expanding Customer Base, 2022–2028 (continued)

Growth Opportunity 4—Digital Asset Maintenance for Enhancing Asset Reliability, 2022–2028

Growth Opportunity 4—Digital Asset Maintenance for Enhancing Asset Reliability, 2022–2028 (continued)

Growth Opportunity 5—Smart Wearables to Enhance Field Services, Promote Workers Safety, and Save Operational Costs, 2022–2028

Growth Opportunity 5—Smart Wearables to Enhance Field Services, Promote Workers Safety, and Save Operational Costs, 2022–2028 (continued)

Growth Opportunity 6—Parts Certainty-as-a-Service for Improved Asset Maintenance and Lifetime, 2022–2028

Growth Opportunity 6—Parts Certainty-as-a-Service for Improved Asset Maintenance and Lifetime, 2022–2028 (continued)

Growth Opportunity 7—Digital Energy-Efficiency Benchmarking to Support Climate Action Plan, 2022–2028

Growth Opportunity 7—Digital Energy-Efficiency Benchmarking to Support Climate Action Plan, 2022–2028 (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

Related Research
Digital transformation is forming a core part of organization strategy across industry verticals to survive economic headwinds, adapt to dynamic market conditions, and remain relevant in an increasingly competitive global environment. Global pandemic, oil price volatility, political tensions, and climate action have further accelerated the need to invest and integrate in Industrial Internet of Things (IIoT) technologies. End users pressing need to cut down total expenditure (TOTEX) and operational expenditure (OPEX) to navigate through these uncertain economic conditions and at the same time increase productivity of existing plants to meet global demand have bolstered the demand for digital services. Real-time visibility of equipment operations and actionable insights derived from AI-powered analytics platform are imperative for end users to ensure continued production without any interruption and transition toward predictive maintenance. In this digital services playbook, new growth avenues with IIoT technologies are identified and analyzed. IIoT 1.0, which includes connected components, connected machines, connected plant, and connected enterprises, is gaining traction with growing interest from end users across process, discrete, and hybrid industries. An assessment of the adoption rate, impact level, and growth propensity is covered in this research. Yet another disruption identified is the transition from IIoT 1.0 to the IIoT 2.0 digital solution. IIoT 2.0 refers to the shift in business model that delivers IIoT-based products and services with a unique pay-per-performance concept, where customers pay based on the outcome achieved. In this study, three digital solutions, maintenance-as-a-service, infrastructure-as-a-service, and efficiency-as-a-service are identified and analyzed. Future of pump OEMs and other value-chain participants is expected to be influenced by IIoT 2.0. IIoT 2.0, an untapped area that is yet to be explored, and offers plethora of growth opportunities for OEMs to distinguish and cement their market position. As the shift to IIoT 2.0 is bound to transpire in the long run, this study provides insights on the key growth drivers offered by capitalizing on this new range of digital solutions. This research also discussed the roadblocks that prevent IIoT 2.0 implementation in the short, medium, and long term. An overview on the end-user perception toward IIoT-based digital solutions is offered to gauge end-user preferences, expectations, and the current IIoT solutions adopted in plants. In addition, a list of digital practitioners is identified and mapped to the various IIoT 1.0 digital solutions covered in this research scope. This offers a pulse on the various leading solution providers, competitive overview, and market gaps that need to be addressed. Furthermore, an overview on new IIoT 2.0 digital solutions is offered to understand their unique value proposition, key features, and benefits achieved. The study also identifies and assesses 7 lucrative growth opportunities based on IIoT 2.0 digital solutions that pump OEMs and other vendors can monetize to unlock new revenue streams. Author: Kiravani Emani
More Information
No Index No
Podcast No
Author Kiravani Emani
Industries Industrial Automation
WIP Number K611-01-00-00-00
Is Prebook No
GPS Codes 95,939,420