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