IoT, Predictive Maintenance

OEMs Need New Business Models

OEMs Need New Business Models

When it comes to implementing predictive maintenance, we know the technology is there. So, what’s stopping people? In many cases, the question for OEMs is how to make money out of it.

The benefits to predictive maintenance are simple and clear: reduced downtime and increased machine lifetime. For the end user, an improvement in either of these areas promises a significant improvement to the bottom line. But if predictive maintenance is taken to its full potential, then it will radically extend the average lifetime of a machine. This will mean new business models are essential for OEMs to maintain the revenue streams they need to survive.

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