OEMs are finding multiple ways to Fuel Innovation by using the IIoT across numerous industry verticals
All over the world, companies are harnessing the opportunities of digital transformation with IoT, simply by installing an IoT system to improve overall efficiency and meet customer demands. The same approach is taken by OEMs to fuel innovation by using IIoT in multiple ways, across numerous industry verticals. To keep the competitive edge, OEM machine builders are adopting IoT and data analytics to address top operational challenges like – cutting down on maintenance costs and unplanned downtime, improving machine effectiveness and increasing ROI. Given the rapid growth of IIoT in the last decade or so, OEM companies are getting more opportunities to gain a competitive edge, to discover new revenue streams, to generate real-time data and use it for product development.
When OEMs innovatively embed IIoT technology into equipment or machines.
Original Equipment Manufacturers (OEMs) have started to deploy smart electronic devices and sensors built into their machines and equipment. These devises are connected to a software application run (or hosted) on an IoT platform. Data generated by the IoT system is used to provide better service and support to customers. The system’s remote monitoring and predictive maintenance models improves equipment availability, performance, uptime and usage.
With real-time data available OEMs can now advise engineers and operators on-site to help them best solve an issue or increase the performance, which can be extended in the lifetime of the machinery and process equipment.
Benefits of using IIoT across industry verticals.
Here are some clear benefits gained by industrial OEMs that leverage IIoT solutions innovatively.
Exploring new business lines. Accepting the remote monitoring and troubleshooting services by even IoT retrofitting, such solutions will help open a new business line. The OEM can improve overall machine reliability and reduce failure cost. The data is valuable as it goes back into product development to open up new revenue streams.
Accelerating solution to market. IoT enables OEMs to use the IIoT platform to accelerate solutions to the market, providing flexibility, scalability and availability to customers. If IoT partners have necessary infrastructure in place, the solution gets deployed faster. Leveraging the data gained, OEMs can improve product lines and design for new uses, getting an opportunity to stay ahead in the market.
Enhance customer experience. Adopting IIoT adds value for the customer and motivates them. It aims to reduce costs by remote support, machine health monitoring, predictive maintenance and effectively meeting SLAs.
Improving the ROI factor. The OEMs perspective of product life-cycle changes with implementation of IIoT, as the (retailed or leased) equipment stays connected after sales. It’s a stepping stone to developing a new business stream. A smart business model with constant feedback and connectivity, mitigates risks for all stakeholders.
Any business, whether a medium scale industry, a large enterprise, or a multinational, can avail Trinetra tSense’s services for developing a viable remote monitoring solution based on our universal, scalable IoT platform. Trinetra builds powerful cloud-based IoT solutions for real-time monitoring of equipment, machines or assets, as per the required terms or parameters. Multiple assets at different locations can be integrated and simultaneously managed on our pre-built IIoT platform. It simply lessens manual intervention and machine downtime to a minimum and automates processes. Enhanced data flow, with support of real-time updates, reports and data analytics, are all part of the system, supported by wireless communication and cloud computing, which is a move towards Industry 4.0 of the future.
Contact us to get more details about our robust, customizable and scalable IIoT solutions, Trintetra tSense is definitely ready to help you out as your reliable partner in progress.