How Smart, Connected Products Are Transforming Companies (Herald of the Economic Sciences of Ukraine)
Summary
- Companies operating in a smart, connected environment face 10 new strategic decisions that reshape every activity in their value chain.p.2
- SmartThings built a partner ecosystem encompassing more than 100 compatible smart home products.p.16
- Following battery punctures in 2 Tesla Model S cars in 2013, a remote software update was deployed to adjust vehicle suspension height under specific conditions.p.11
- Smart connected elevators analyze usage patterns, allowing 4 elevators to provide better service than 6 traditional units.p.15
- PTC serves more than 28,000 companies worldwide across industrial sectors.p.32
Key insights
- Smart, connected products shift product development from mechanical engineering to interdisciplinary systems engineering.p.9
- Real-time product data has become a core corporate asset equal in strategic importance to capital and human talent.p.5
- Software allows manufacturers to achieve low-cost variability across markets without changing physical hardware components.p.9
- Digital twins serve as virtual 3-D replicas that evolve with real-time product data to optimize operational performance and service.p.9
- Continuous connectivity enables manufacturers to shift from one-time product sales to recurring product-as-a-service models.p.11
- Real-time product telemetry transforms traditional reactive service models into proactive and remote maintenance.p.17
- Cybersecurity becomes a cross-functional responsibility as every connected device creates an exposed entry point for network breaches.p.18
Topics and entities
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