Manufacturers expect the Internet of Things (IoT) to create significant opportunities for their service business. While much has been written about the IoT’s economic contribution, very little insights are available on the specific impact the IoT creates for the manufacturers’ service business. In fact, the service business of manufacturers is a complex business domain and needs to be examined in detail to offer highly valuable and immediately applicable insights for manufacturers.
This white paper is specifically focused on the manufacturers’ service business and discusses in detail how the IoT impacts on 1) the manufacturers’ service profitability and growth and 2) the development of sustainable competitive advantage for the service business.
More specifically, this white paper analyses the opportunities the IoT creates for the manufacturers’ service business and provides the following insights:
- The diverse range of manufacturers’ service business models are categorised.
- The scope of the IoT technology is described and its core implications are outlined.
- Diverse practical service business scenarios and the specific IoT contributions are analysed.
- Critical advice on developing an IoT strategy for the manufacturers’ service business is provided.
Through this white paper, decision makers in the manufacturing industry can get important insights and hands-on guidelines to utilise the IoT opportunities, in order to effectively compete with their service business.
Developed by Noventum in cooperation with Aston Business School and the Advanced Services Group - a centre of excellence at Aston Business School.