Connected Devices for Industrial Products

Industrial products have historically been designed as standalone, reactive systems—engineered to perform specific functions with minimal visibility once deployed in the field. While this model has supported industrial growth for decades, it is increasingly misaligned with modern operational and market expectations.

The consequences are not marginal—they are material to both revenue and efficiency.

• Unplanned downtime costs large organizations an estimated $1.4 trillion annually, representing nearly 11% of total revenue
• In asset-intensive sectors, downtime can cost between $100,000 to over $1 million per hour, depending on the industry
• Manufacturing operations can lose up to 20% of productive capacity due to inefficiencies and downtime

At an operational level, the limitations are equally critical:

• Maintenance strategies are largely reactive or schedule-based, leading to unexpected failures
• There is limited real-time visibility into product performance and health
• Product innovation cycles rely on delayed or incomplete feedback loops

This is where connected technologies are redefining the landscape.

Industrial buyers increasingly expect:

• Real-time monitoring and remote control
• Data-driven insights and analytics
• Seamless integration with enterprise systems

Organizations that continue to rely on disconnected products risk higher lifecycle costs, slower innovation, and reduced market relevance.

In contrast, connected devices enable a transition from:

• Standalone equipment → Intelligent, connected systems
• Reactive maintenance → Predictive operations
• Product-centric models → Service-driven business models