How Hardware Makers Can Win in the Software World

How Hardware Makers Can Win in the Software World

By Fouad Bendris

Manufacturers of everything from medical devices to farm equipment are recognizing the big opportunities that exist in software solutions and services—and investing accordingly. But the results have been mixed. A major reason: many companies have not grasped that hardware and software businesses require radically different business models.

Fouad Bendris’s insight:
As they witness the proliferation of sensors, software, computing power, and connectivity embedded in everything from motor vehicles to home appliances, equipment manufacturers of all kinds are asking an existential question: is it time to stop thinking of themselves primarily as hardware and systems companies and instead to view themselves as providers of software solutions and services?

Source:: Strategy & Governance

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