[Infographic] How the Internet of Things is Impacting Hardware and Equipment Manufacturers
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In this infographic, you'll see just how IoT is impacting hardware manufacturers and why embracing digitization is crucial to improving revenue growth in a rapidly changing technological climate.
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[Infographic] How the Internet of Things is Impacting Hardware and Equipment Manufacturers
- 1. SOURCES: 2020 TSIA Field Services Benchmark T&S 50 Index© All rights reserved. Technology Services Industry Association (TSIA) www.tsia.com Think the Digital Transformation Isn’t Impacting Hardware Manufacturers? Think Again. TOTAL COMPANY REVENUE GROWTH SERVICES REVENUE GROWTH +7% +14% TSIA’S ROADMAP TO DIGITIZATION AND REVENUE GROWTH THE WRITING IS ON THE WALL: THE TRADITIONAL CAPEX MODEL IS DYING IF YOU’RE A TRADITIONAL HARDWARE MANUFACTURER, REVENUES RELY ON... THIS CAN’T BE IGNORED. IT’S TIME FOR CHANGE! REVERSE THE TREND WITH SMART, CONNECTED PRODUCTS THAT: REMARKABLE PROCESSING POWER BIG DATA COLLECTION + ANALYSIS CONNECTED: STORE, SHARE, INTERACT Deliver More Customer Value with Digitization Enable New, Diversified Revenue Streams THIS IS HOW TSIA MEMBERS ARE ACHIEVING PROFITABLE REVENUE GROWTH Technology Subscriptions Add-on Services Attached Services Operational Services Adoption Services Information Services Outcome Services SERVICES GROSS MARGIN >65% PRODUCT REVENUE COMPANY REVENUE YoY Declines PRODUCT ANNUITY 76% 16% PROJECT DELIVERY 8% 56% Of hardware manufacturers have fading product revenues -5.6% -4.3%