Original Equipment Manufacturers (OEMs) operate in a dynamic and competitive industrial market, where they need to meet the changing needs and demands of their customers. One of the ways to achieve this is by adopting IoT technology, which allows OEMs to transform their operations and gain a strategic edge.
Understanding IoT Remote Monitoring and Connected Assets
IoT remote monitoring is the process of connecting machines, devices, and assets to the internet and cloud platforms, and collecting and analyzing real-time data on their performance and condition. This allows OEMs to monitor their products deployed in the field, and provide proactive and preventive maintenance, rather than reactive and corrective maintenance.
Connected assets are machines, devices, and assets that are embedded with sensors and connectivity, and can communicate with each other and the cloud. This enables OEMs to offer enhanced features and functionalities to their products, such as performance optimization, real-time diagnostics, and remote firmware updates.
Why IoT Remote Monitoring Matters for OEMs
IoT remote monitoring solutions and connected assets can provide a competitive advantage for OEMs in three main ways:
- Product Differentiation and Innovation: Custom IoT solutions enable OEMs to differentiate their products. By embedding sensors and connectivity, they can offer features like predictive maintenance alerts, performance optimization, and real-time diagnostics. Innovations such as remote firmware updates allow OEMs to enhance product functionality even after deployment, delighting customers and extending the product lifecycle.
- Customer Satisfaction and Loyalty: Reliable asset performance translates to satisfied customers. When machines operate seamlessly and downtime is minimized, end-users experience fewer disruptions. By providing remote service, OEMs can diagnose and address issues without physical visits. This responsiveness builds trust and loyalty among customers.
- Business Growth and Revenue:
- Reduced operational costs: Early issue detection means fewer emergency repairs and less unplanned downtime. This directly impacts the bottom line.
- New revenue streams: OEMs can offer subscription-based services, such as predictive maintenance packages, generating recurring revenue.
- Market positioning: Leveraging IoT demonstrates forward-thinking and positions OEMs as industry leaders.
How can OEMs Overcome the Challenges and Limitations of IoT Remote Monitoring and Connected Assets?
While IoT remote monitoring and connected assets bring immense benefits, they also pose some challenges and limitations that OEMs need to address and overcome. Some of the common challenges and limitations are:
- Data security and privacy: IoT solutions transmit and process sensitive data, which may be vulnerable to cyberattacks and breaches. OEMs need to protect and govern their data with encryption, authentication, and consent.
- Integration complexity: IoT solutions integrate and interoperate various devices, systems, and platforms, which may have different standards and protocols. OEMs need to ensure smooth connectivity and communication and adopt and promote common standards and frameworks.
- Scalability: IoT solutions generate large amounts of data from many assets, which may strain the network and cloud infrastructure. OEMs need to ensure their IoT solutions can scale with data and devices and use the edge and the cloud to optimize their IoT solutions.
Bridgera Monitoring: Empowering OEMs with Custom IoT Solutions
To excel in the industrial market, OEMs must embrace IoT remote monitoring and connected assets. Bridgera offers custom IoT solutions, enabling OEMs to monitor and optimize assets for enhanced customer experiences.
Bridgera Monitoring facilitates real-time data access, empowering proactive maintenance and product optimization. This custom IoT solution ensures OEMs differentiate their products, boost customer satisfaction, and drive business growth.
Partner with Bridgera to thrive in the evolving industrial landscape. Initiate your IoT journey today for a competitive edge!
