Retrofits - The Difference Between Point Solutions and the Industrial Internet
ARC research indicates that the industrial sector could be the greatest potential beneficiaries of the IoT value proposition in terms of both connected end products and connected production assets and operations. Manufacturing is known for its slow pace of technology adoption, but the combination of the connectivity value proposition for new installations combined with the retrofit of the huge installed base of production equipment translate to significant potential benefit for manufacturers.
Industrial IoT Enables New Revenue Sources for Equipment Manufacturers
The Internet of Things (IoT) has dramatically altered the landscape for data collection and associated business processes. The systems needed to ingest, store, and process data used to reside within the walls of the corporate IT data center. Mobile devices started to break down these walls. Industrial IoT (IIoT) provides original equipment manufacturers (OEMs) with new visibility that enables value-added services, competitive advantage for product design, and revenue growth. Adoption is no longer an option.
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