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Subject: MRR

Global Pumps Digital Services Market Report 2021-2028 - Pumps-as-a-Service for Unlocking New Revenue Stream and Bolstering Customer Engagement


DUBLIN, Oct. 22, 2021 /PRNewswire/ -- The "Global Digital Services in Pumps Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

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In this study, three digital solutions, maintenance-as-a-service, infrastructure-as-a-service, and efficiency-as-a-service are identified and analyzed. The future of pump OEMs and other value-chain participants is expected to be influenced by IIoT 2.0. IIoT 2.0, an untapped area that is yet to be explored, and offers a plethora of growth opportunities for OEMs to distinguish and cement their market position.

Digital transformation is forming a core part of organization strategy across industry verticals to survive economic headwinds, adapt to dynamic market conditions, and remain relevant in an increasingly competitive global environment. A global pandemic, oil price volatility, political tensions, and climate action have further accelerated the need to invest and integrate into Industrial Internet of Things (IIoT) technologies.

End users' pressing need to cut down total expenditure (TOTEX) and operational expenditure (OPEX) to navigate through these uncertain economic conditions and at the same time increase productivity of existing plants to meet global demand have bolstered the demand for digital services. Real-time visibility of equipment operations and actionable insights derived from AI-powered analytics platforms are imperative for end-users to ensure continued production without any interruption and transition toward predictive maintenance.

In this digital services playbook, new growth avenues with IIoT technologies are identified and analyzed. IIoT 1.0, which includes connected components, connected machines, connected plant, and connected enterprises, is gaining traction with growing interest from end-users across process, discrete, and hybrid industries. An assessment of the adoption rate, impact level, and growth propensity is covered in this research.

Yet another disruption identified is the transition from IIoT 1.0 to the IIoT 2.0 digital solution. IIoT 2.0 refers to the shift in a business model that delivers IIoT-based products and services with a unique pay-per-performance concept, where customers pay based on the outcome achieved.

As the shift to IIoT 2.0 is bound to transpire in the long run, this study provides insights on the key growth drivers offered by capitalizing on this new range of digital solutions. This research also discussed the roadblocks that prevent IIoT 2.0 implementation in the short, medium, and long term. An overview of the end-user perception toward IIoT-based digital solutions is offered to gauge end-user preferences, expectations, and the current IIoT solutions adopted in plants.

In addition, a list of digital practitioners is identified and mapped to the various IIoT 1.0 digital solutions covered in this research scope. This offers a pulse on the various leading solution providers, competitive overview, and market gaps that need to be addressed.

Furthermore, an overview of new IIoT 2.0 digital solutions is offered to understand their unique value proposition, key features, and benefits achieved. The study also identifies and assesses 7 lucrative growth opportunities based on IIoT 2.0 digital solutions that pump OEMs and other vendors can monetize to unlock new revenue streams.

Key Topics Covered:

1. Strategic Imperatives

2. Growth Opportunity Analysis, Digital Services in Pumps Market

3. Growth Opportunity Analysis, Digital Services in Pumps Market, Americas

4. Growth Opportunity Analysis, Digital Services in Pumps Market, EMEA

5. Growth Opportunity Analysis, Digital Services in Pumps Market, APAC

6. Market Summary, Digital Services in Pumps Market

7. IIoT 1.0 and IIoT 2.0 Solution Overview, Digital Services for Pumps

8. IIoT 1.0 and IIoT 2.0 End-user Perception, Digital Services for Pumps Market

9. Growth Opportunity Universe, Digital Services in Pumps Market

For more information about this report visit https://www.researchandmarkets.com/r/9qwptw

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]   

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