Smart, connected products: Manufacturing's next transformation
Smart, connected products—the “Things” in the Internet of Things—are expected to power the next wave of manufacturing. However businesses must rethink their products, services, and processes, and most gains anticipated remain up for grabs.
To better understand how manufacturers are navigating the opportunities and challenges surrounding smart, connected products (SCPs), Oxford Economics and PTC surveyed 300 manufacturing executives around the world. Only firms with strategies to develop these products were considered. The survey, along with a series of interviews with industry leaders, shows that the SCP revolution is well under way but remains in its early stages.