Growth Opportunities Stemming from Best Practices and New Business Models in Connected Assets

Growth Opportunities Stemming from Best Practices and New Business Models in Connected Assets

Connected Assets for Intelligent Operations are Steadily Gaining Ground

RELEASE DATE
16-May-2022
REGION
Global
Research Code: PCBA-01-00-00-00
SKU: IA01652-GL-MR_26482
$2,450.00
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SKU
IA01652-GL-MR_26482
$2,450.00

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Description

Data strings from vehicles, machines, products, and facilities are generated to alert users of asset operating conditions. Data is created to
notify users of asset location and condition and if something is about to go wrong. This data is churned out constantly, and organizations that acknowledge and find ways to monetize it can become market leaders, while others will constantly have to monitor dashboards on mobile devices that can only report what has happened and offer a comparison with defects likely to occur in future. Connected asset platforms alter solutions based on the need to act while connecting users with everything they need to track and trace to view products, people, and processors remotely. Connected assets use interactive intuitive platforms backed by powerful engines.

Industries and businesses use connected assets to deliver products and services that act as intelligent devices and respond to external and internal stimuli. Smart connected assets offer features such as reactions based on past performance and material availability; the ability to predict future failures; and adherence to performance and other compliance requirements. Connected assets have emerged as IIoT, Big Data, data analytics, and other technologies have converged with IT/OT and other traditional operational platforms to facilitate predictive maintenance rather than reactive maintenance.

As smart connected operations become an important future trend in the industrial operations space, factory production lines will integrate IIoT with manufacturing operations, management applications, and assets. Owing to the shift to connected smart enterprises, manufacturing companies and solution providers are investing in IIoT to merge IT and OT solutions and ease business leaders' review processes by enhancing connectivity, networks, data storage, and analytics solutions to transform industries in the long term.

Key Issues Addressed:

  • What are the growth drivers and restraints?
  • To what extent has the COVID-19 pandemic affected the market? Has it resulted in the emergence of new business models?
  • How are the new models different from the traditional models? Which stakeholders are continuing to use the conventional models and which ones are opting for the new ones?
  • What are the growth opportunities in the connected assets market?

Author: Ranjana Venkatesh Kumar

 

 

 

 

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Connected Assets Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Connected Assets—Definition

Connected Assets—A Summary

Connected Assets—A Summary (continued)

Impact of the COVID-19 Pandemic on Connected Assets and Digitalization

Distribution Channels for Connected Technologies in the Industrial Space

Market Drivers

Market Restraints

Technologies Driving the Connected Asset Environment

Case Study—Honeywell’s Connected Distributed Centers

Case Study—Emerson’s PlantWeb

Case Study—Rejig Digital

Enablers of New Business Models

Enablers of New Business Models (continued)

Evolution of Business Models

Current Business Models

Subscription-based Models

Subscription-based Models—Use-Case

Pay-by-Use Models

Pay-by-Use Models—Use-Case

Outcome-based Models

Outcome-based Models—Use-Case

Product-as-a-Service Models

Product-as-a-Service Models—Use-Case

Key Prospective Business Models

Connected Assets—Future Growth Areas

Growth Opportunity 1: Sustainability to Open up New Opportunities in the Post-pandemic World

Growth Opportunity 1: Sustainability to Open up New Opportunities in the Post-pandemic World (continued)

Growth Opportunity 2: Industry 5.0 to Accelerate the Future of Automation

Growth Opportunity 2: Industry 5.0 to Accelerate the Future of Automation (continued)

Growth Opportunity 3: No Code to be the Future of Intelligent Automation Tools

Growth Opportunity 3: No Code to be the Future of Intelligent Automation Tools (continued)

Growth Opportunity 4: IIoT Solutions to Disrupt Business Models for End Users in Various Industries

Growth Opportunity 4: IIoT Solutions to Disrupt Business Models for End Users in Various Industries (continued)

List of Exhibits

Legal Disclaimer

Data strings from vehicles, machines, products, and facilities are generated to alert users of asset operating conditions. Data is created to notify users of asset location and condition and if something is about to go wrong. This data is churned out constantly, and organizations that acknowledge and find ways to monetize it can become market leaders, while others will constantly have to monitor dashboards on mobile devices that can only report what has happened and offer a comparison with defects likely to occur in future. Connected asset platforms alter solutions based on the need to act while connecting users with everything they need to track and trace to view products, people, and processors remotely. Connected assets use interactive intuitive platforms backed by powerful engines. Industries and businesses use connected assets to deliver products and services that act as intelligent devices and respond to external and internal stimuli. Smart connected assets offer features such as reactions based on past performance and material availability; the ability to predict future failures; and adherence to performance and other compliance requirements. Connected assets have emerged as IIoT, Big Data, data analytics, and other technologies have converged with IT/OT and other traditional operational platforms to facilitate predictive maintenance rather than reactive maintenance. As smart connected operations become an important future trend in the industrial operations space, factory production lines will integrate IIoT with manufacturing operations, management applications, and assets. Owing to the shift to connected smart enterprises, manufacturing companies and solution providers are investing in IIoT to merge IT and OT solutions and ease business leaders' review processes by enhancing connectivity, networks, data storage, and analytics solutions to transform industries in the long term.--BEGIN PROMO--

Key Issues Addressed:

  • What are the growth drivers and restraints
  • To what extent has the COVID-19 pandemic affected the market Has it resulted in the emergence of new business models
  • How are the new models different from the traditional models Which stakeholders are continuing to use the conventional models and which ones are opting for the new ones
  • What are the growth opportunities in the connected assets market

Author: Ranjana Venkatesh Kumar

 

 

 

 

More Information
Author Ranjana Venkatesh Kumar
Industries Industrial Automation
No Index No
Is Prebook No
Podcast No
WIP Number PCBA-01-00-00-00