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IoT in Pumps—Mapping Your IoT Monetization Strategy
IoT in Pumps—Mapping Your IoT Monetization Strategy
Assessment of Innovative Business Models to Unlock New Revenue Streams
10-Jun-2019
Global
$4,950.00
Special Price $3,712.50 save 25 %
Description
This Frost & Sullivan study identifies, assesses, and evaluates the lucrative growth opportunities available for pump vendors if they integrate IIoT into their solution offering. Based on interactions with pump, automation, IoT, and end-user companies, Frost & Sullivan has identified 5 growth opportunities that helps pump manufacturers to identify new revenue streams in this mature market environment. More importantly, it helps pump manufacturers to position themselves as attractive partners for end users who are aggressively realigning their maintenance approach to become more predictive and prescriptive.
The advent of the Industrial Internet of Things (IIoT) is set to transform the value chain of the manufacturing industry. With the onset of next-generation technology, it is essential for pump manufacturers to assist end-users in their transformation journey towards establishing a digitally connected ecosystem. This impels pump vendors to design and develop smart and intuitive pump systems and shift their solution offering by focusing on delivering a wide-array of asset monitoring services.
In this study we have provided an overview on the pump services market and covered its evolution from offering basic services to advanced services that are predominantly driven by IIoT-based technologies. The study also captures the present pulse of the industry verticals and highlights the current mindset, the receptiveness to IIoT, and investment plans.
Some of the industries included are oil and gas, chemical processing, water and wastewater, power generation, food & beverage, and pulp & paper.
Key Issues Addressed
• What are the new business models emerging for pump manufacturers with the growth of IIoT?
• What is the market size of the services in the pumps industry? How can IIoT help increase a company’s revenue with services?
• What are the major growth drivers that unlock new growth prospects for the pumps industry? What are the roadblocks hampering their success?
• What are the top 5 growth opportunities that pump manufacturers can monetize? Which of these IoT-based businesses are attractive for end users?
• How can pump manufacturers adapt to the changes in the manufacturing landscape and remain competitive?
• What are the key challenges faced by end users? What is end user perception towards IIoT and key requirements?
• Where do end users see the relevance and need for IIoT in their plant maintenance? Is it at a component, plant, or an enterprise level?
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
Purpose of this Experiential Study
5 Step Process to Transformational Growth
Strategic Imperatives for Pump Manufacturers
Growth Opportunities for Pump Manufacturers
Research Scope, Aims and Objectives
Market Definitions
Key Questions this Study will Answer
Value Chain Depiction
Evolution of Pumps Industry
Global Value Chain Participants
Features Offered by Pump Manufacturers
Drivers and Restraints
Revenue Forecast
Revenue Forecast by Segment
Revenue Forecast Discussion
Vertical Market Revenue Discussion
Macro to Micro Visioning
Pump Manufacturers’ Monetization Scope
Factors Impacting the Shift in Pumps Business Model
Top 5 Predictions
End Users’ Investment Decision and Strategic Priorities
Business Model Opportunities in Top 5 industries
Snapshot of End-user Challenges, Perception, and IoT Investment
Snapshot of End-user Challenges, Perception, and IoT Investment (continued)
Case Study 1—Vibration Monitoring (Augury)
Case Study 2—Component Monitoring (ITT i-Alert)
Case Study 3—Pump Performance Management (Sulzer BlueBox)
Case Study 4—Plant Level Asset Management (Emerson PlantWeb)
Case Study 5—Connected Enterprise (Siemens)
Levers for Growth
Levels of Engagement—Monitoring to Management
Features and Pricing by Pump Manufacturers
Growth Opportunity 1—Vibration and Component Monitoring
Growth Opportunity 2—Pump Remote Monitoring
Growth Opportunity 3—Pump Performance Management
Growth Opportunity 4—Plant Level Asset Management
Growth Opportunity 5—Connected Enterprise
Growth Opportunity 1—Innovation and Transformation
Growth Opportunity 2—Return on Investment (ROI)
Identifying Your Company’s Growth Zone
Growth Opportunities 1–5—Vision and Strategy
Growth Opportunities 1–2—Brand and Demand
Growth Opportunities Matrix
Growth Strategies for Your Company
Growth Strategies for Your Company (continued)
Prioritized Opportunities Through Implementation
The Last Word
Legal Disclaimer
List of Exhibits
Key Issues Addressed
- What are the new business models emerging for pump manufacturers with the growth of IIoT?
- What is the market size of the services in the pumps industry? How can IIoT help increase a company’s revenue with services?
- What are the major growth drivers that unlock new growth prospects for the pumps industry? What are the roadblocks hampering their success?
- What are the top 5 growth opportunities that pump manufacturers can monetize? Which of these IoT-based businesses are attractive for end users?
- How can pump manufacturers adapt to the changes in the manufacturing landscape and remain competitive?
- What are the key challenges faced by end users? What is end user perception towards IIoT and key requirements?
- Where do end users see the relevance and need for IIoT in their plant maintenance? Is it at a component, plant, or an enterprise level?
Author: Kiravani Emani
| No Index | No |
|---|---|
| Podcast | No |
| Author | Kiravani Emani |
| Industries | Industrial Automation |
| WIP Number | K363-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9B07-C1,9593,9420 |