Redefining demand in the disruptive era
Intelligent equipment and services, advanced analytics, remote monitoring, and predictive maintenance. These technology-driven trends are redefining customer demand for industrial equipment and platforms. And supply chains are reeling from volatile prices of raw materials, shortages of skilled workers and uncertainties of global trade wars. Clearly, industrial equipment companies are under enormous stress today. While most are fighting back, only a small group of innovative companies are distinguishing themselves in this disruptive era. We call them the Industrial Equipment Champions.
This report explores what sets them apart.
Tech transforms the playing field
Industrial equipment companies are facing unprecedented challenges today. Customer engagement no longer hangs on competitive prices and diligent maintenance. Technology is creating discerning customers; they want smart, pay-per-use industrial equipment they can operate remotely from an office rather than an underground mine or a drilling rig. It shouldn’t come as a surprise then, that they prefer to crunch data to figure out how to optimize operations or when to repair equipment before any breakdowns, saving on unplanned downtime.
On the supply side, industrial equipment manufacturers are hamstrung by volatile prices of raw materials, an acute shortage of skilled engineers and factory workers, and looming uncertainties of global trade wars.
The industrial equipment industry’s new value propositions
While industrial equipment companies are facing unprecedented economic and social pressure, they can tackle those by exploiting new value propositions to capture 21st century market opportunities.