Research Report

The State of Services for Industrial Equipment Manufacturers: 2019

Industrial equipment companies need to unlock the potential of IoT. 

With a higher economic uncertainty and a softer momentum this year, we are expecting stronger pressure on revenues and margins, which will increase the need to transform from a product-centric business to a services-led and IoT-driven model. 

This annual report:

  • Summarizes the top TSIA member inquiries of the past year from industrial equipment companies
  • Identifies the most relevant business challenges faced by our members 
  • Translates the challenges into the core capabilities that industrial equipment manufacturers will need to embrace to succeed in 2019 and beyond

Here’s are some key focus areas for 2019 included in this report:

  • Creating new offers and providing a compelling service portfolio
  • Helping customers achieve outcomes
  • Unlocking the potential of the Internet of Things
  • Aligning services and company strategy

Service executives are the internal IoT evangelists in this transformation and will deploy new as-a-service offers that are anchored around business value this year. Equipment companies need to work on building or acquiring the required capabilities based on a strategic plan. 

The industry trends and challenges we are tracking impact not just service organizations, but also sales, product, marketing, and finance organizations as well. For this reason, the content in this report is designed to be shared and discussed cross-functionally. 

Download your copy today and share it with your team.

 

Authored By:

Harald Kopp

Director, Industrial Services Research, TSIA

Publish Date: March 3, 2019

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