2018年-普华永道全球_Monetizing_the_industrial_Internet_of_Things_PwC_19页_1mb

Summary of Monetizing the Industrial Internet of Things

Core Content

The document discusses the growing importance of the Industrial Internet of Things (IIoT) in the manufacturing industry, highlighting the shift from traditional product-based models to data-driven, service-oriented approaches. It emphasizes the need for manufacturers to develop sustainable and scalable IoT-centric business models to capitalize on the opportunities presented by IIoT, including new revenue streams, customer retention, and operational efficiencies.

Main Points

• IIoT Growth and Adoption:

  • The number of connected devices globally is expected to surpass 20 billion by 2020, with IIoT accounting for about one-third of all connected devices.
  • Nearly 90% of US manufacturers are either already offering IoT-driven products and services or developing them, indicating a strong industry push towards IoT integration.

• Reasons for IoT Adoption:

  • Competitive pressures (61%)
  • New revenue streams and ROI (61%)
  • Customer demand (49%)
  • Customer stickiness (i.e., increasing customer loyalty through IoT-enabled services)

• Monetization Strategies:

  • Product performance monitoring: Charging for real-time data access, predictive maintenance, or cybersecurity services.
  • Data analysis/diagnostics: Offering subscription-based services or outcome-based pricing (e.g., based on asset uptime improvements).
  • Field services: Providing insights and alerts to customers, enabling proactive maintenance and service optimization.
  • Pay-per models: Charging customers based on usage (e.g., pay-per-hour, pay-per-alert, pay-per-solution).

• Challenges in IoT Adoption:

  • Cybersecurity risks: A major concern for manufacturers, requiring enterprise-wide risk management strategies.
  • Deployment costs and data talent shortages: Significant barriers to entry for some companies.
  • Unclear ROI and lack of proven solutions: Many manufacturers are hesitant due to these uncertainties.
  • Cultural and organizational change: The transition to IoT often involves internal transformation and new ways of thinking about customer service and product development.

• Key Findings from PwC/MAPI Survey:

  • 38% of manufacturers are offering IoT products and services.
  • 48% are in the process of developing them.
  • 47% are selling customer-managed IoT platforms.
  • 30% are deploying product-as-a-service models.
  • 4% are using fully integrated IoT services that incorporate external data sources.
  • Only 14% of manufacturers have developed a clear go-to-market IoT strategy.

Critical Information

• Revenue Projections:

  • 41% of manufacturers currently offering IoT products and services experienced returns of up to 5% of total revenue.
  • Over the next five years, 42% of manufacturers expect IoT to contribute between 10% and 20% of total revenue.

• IoT Investment Trends:

  • 40% of manufacturers are investing between 5% and 20% of their R&D budgets into IoT development.
  • Companies are increasingly adopting a multi-functional team approach, combining business, user experience, and technology expertise to drive IoT initiatives.

• Data Utilization:

  • Data is viewed as a key asset, not just a technology.
  • It is important to identify what data is critical to customers and the business, and to ensure it is easily accessible and valuable.

• Collaboration and Partnerships:

  • 75% of manufacturers are leveraging internal resources for IoT development.
  • 26% are using partnerships, acquisitions, or third-party vendors to support IoT initiatives.
  • 25% are purchasing third-party industrial IoT platforms.

• Customer-Centric Approach:

  • IoT is prompting manufacturers to rethink how they service their clients.
  • Companies are using data to improve product development, accelerate innovation, and enhance customer profitability.

Recommendations

1. Identify Realistic Entry Points:

   • Choose IoT applications that align with your business goals and customer needs.

2. Define and Demonstrate Value:

   • Clearly communicate the value IoT brings to both customers and the company, especially in terms of ROI and efficiency.

3. Develop Go-to-Market Strategies:

   • Create a clear strategy for launching IoT products and services, ensuring they are market-ready and supported by a strong value proposition.

4. Build Scalable and Future-Proof Business Models:

   • Promote an entrepreneurial culture to develop and scale IoT business models that can adapt to future technological changes.

5. Leverage Data Feedback Loops:

   • Use data collected from IoT products to inform product improvements, accelerate innovation, and enhance customer experience.

Conclusion

The document underscores the transformative potential of IIoT for manufacturers, but also highlights the challenges involved in its adoption. It advocates for a strategic, customer-focused, and agile approach to IoT development, emphasizing the importance of data integration, cybersecurity, and collaboration with internal and external stakeholders to ensure long-term success.