From the field | A guide for industrial providers: How to create new Industry 4.0 products
We have interviewed different industrial providers to find out what success factors come into play for creating new Industry 4.0 products - from established machine vendors up to service and hardware companies offering Industry 4.0 products.
In recent years, many industrial users have seen the potential of Internet of Things (IoT) technologies and made their first ventures into the arena. And yet, there are still comparatively few examples of new value added products arising from Industry 4.0. Such products are based on new insights into the condition, use, performance, and location of machinery, tools, and systems that are digitally connected with each other. These insights can generate whole new revenue streams based on new products and services, or else be used to improve existing offerings, particularly their user friendliness.
We wanted to find out what success factors come into play in the creation of new Industry 4.0 products, and how various enterprises are applying them. You can read about the results of our survey of nine industry partners in this white paper. Fifteen hypotheses serve to illustrate the experience gained by a broad range of providers in the industrial sector – experience you can now leverage for your own projects.