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By collecting and processing historical data as well as real time data, manufacturers can now turn their business model from product sales into a service sales model and access to recurring revenues.
Industrial servitization is a hot topic right now as new technologies emerge that harness real-time data. In an increasingly competitive market servitization is the way to open new business lines, improve customer loyalty and, in addition, comply with sustainability goals. Manufacturers can now make a profit from services by making their products last longer and avoid waste as much as possible. They can also recycle parts of broken products for reuse or recycle an integral part of these services.
The viability of your business should not be dependent on poor obsolescence management by your suppliers, so Barbara offers a "rescue" solution for those industries that have historically been victims of vendor lock-in.
With the Fourth Industrial Revolution, many small companies and start ups appear with much more affordable, much cheaper technology and start deploying data collection architecture in all types of large, medium and small companies and start providing services to companies that previously could not afford it.
The digital revolution is accelerating industrial transformation. Ubiquitous innovation, global markets, and increasingly demanding customers who no longer seek just a product, but a comprehensive service tailored to their needs are forcing manufacturers to transform their business models and move from one-off sales to one of higher value-added services.
Edge computing plays a key role in sustainability and energy efficiency because it is specifically designed to bring applications and data closer to devices and their users. Increasing the deployment of edge solutions could be one of the answers to achieve the energy optimization goal that the industry is looking for.