OEMs need to adopt a broader view of non-traditional growth opportunities. These can include emergent innovations that threaten the core business, as well as opportunities to collaborate with customers and partners on new solutions.
New technologies are reshaping how manufacturing businesses engage with customers and compete. Over the next decade, these technologies will propel innovations that will change the ways we design, work, produce and learn.
The new generation of software will require open information flows and shared data. Creating an unbroken circle of data and information value based on the integration of people, processes, and relationships across new ecosystems will become the “holy grail” of smart systems.
Note to OEMs venturing into software: Those millions of lines of code are a whole different animal. They’re not a physical good like the things you know and build. They’re also not easy to create, price, sell, or support, and you’d better not confuse them with your existing business.