Internet of Things cloud platforms offer device makers and companies the opportunity to greatly expand the value of products and services. These devices are reshaping the value chain by altering product design and development, manufacturing, marketing, supply chain management and service after the sale. They also generate new support activities, such as product data analytics and security.
While connectivity and cloud support require additional product costs for device makers, business value expands greatly — not only by adding value to the product, but also by extending the product’s lifetime through ongoing enhancements and feature expansion.
