Ten Examples of Servitization across diverse industry verticals
In this series of articles that are serialised from an exclusive new Field Service News two part white paper co-authored by Kris Oldland and Justin Konopaske, we will explore multiple aspects of the complex discussion of servitization…
In previous articles in this series we have so far explored the concepts discussed in the first paper in the two-part series including:
- definition of servitization for 2023,
- servitization as a spectrum,
- orchestration of the developing organizational structure
- how to navigate the transformational change needed for servitization
Then as we continue our exploration of the servitization landscape, our focus shifed to the transformative power of technology. So far in the second half of this series we have explored:
- The relationship between digital transformation and servitization
- The technology requirements for successful servitization
Having looked at the challenges, benefits, drivers, and technology underpinning servitization, let us now take a quick tour of some examples of organizations that have put servitization into practice in the penultimate article in this series…
Caterpillar “Cat® Connect Solutions”:
Caterpillar provides “Cat® Connect Solutions” for its heavy equipment customers. This suite of services utilizes telematics and data analytics to optimize equipment performance and productivity.
Customers receive insights on machine health, fuel efficiency, and maintenance needs, enabling them to enhance overall operational efficiency.
John Deere “John Deere Precision Ag Technology”:
John Deere offers precision agriculture technology services, enabling farmers to optimize their operations through data-driven insights.
This technology suite includes GPS-guided machinery, data analytics, and variable rate application systems. Farmers can improve crop yields, reduce inputs, and enhance sustainability by adopting precision as technology.
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"Schneider Electric offers “EcoStruxure,” an IoT-enabled, open, and interoperable architecture for buildings, data centres, industries, and more. EcoStruxure provides integrated solutions that optimize energy efficiency, sustainability, and reliability..."
Hilti “Fleet Management”:
Hilti, a global provider of tools and technology for the construction industry, offers “Fleet Management” services. Instead of selling individual tools, Hilti provides customers with a complete tool management solution.
Customers pay a monthly fee for access to a fleet of devices, and Hilti takes care of maintenance, repairs, and upgrades. This service model ensures that customers always have access to the latest and most efficient tools without needing ownership.
Siemens “Healthineers Performance Services”:
Siemens Healthineers, a leader in medical technology, offers “Performance Services” for healthcare providers.
This outcome-based service provides customers access to the latest medical imaging and diagnostic equipment. Siemens manages equipment maintenance, upgrades, and performance optimization, ensuring that healthcare providers can offer high-quality patient care.
General Electric “Digital Wind Farm”:
General Electric (GE) developed the “Digital Wind Farm” service for wind turbine customers. The service employs IoT sensors and advanced analytics to optimize wind farm performance.
GE monitors turbine data in real time, enabling predictive maintenance, reducing downtime, and enhancing energy production. Customers benefit from increased efficiency and higher returns on their wind farm investments.
Schneider Electric “EcoStruxure”:
Schneider Electric offers “EcoStruxure,” an IoT-enabled, open, and interoperable architecture for buildings, data centres, industries, and more. EcoStruxure provides integrated solutions that optimize energy efficiency, sustainability, and reliability.
By offering a subscription-based model, Schneider Electric delivers continuous support, updates, and energy management services to its customers.
Siemens “Power Diagnostics™ Services”:
Siemens offers “Power Diagnostics™ Services” to the power generation industry. Utilizing advanced data analytics and remote monitoring, Siemens identifies potential issues in power plant equipment and provides insights to improve performance and reliability.
This outcome-based service ensures maximum uptime and efficiency for power plant operators.
Volvo “UDRIVE”:
Volvo introduced “UDRIVE,” an outcome-based service for its construction equipment. Customers pay a monthly fee based on the actual usage of the equipment, and Volvo handles maintenance, repairs, and upgrades.
This model provides customers with flexible access to construction machinery without the burden of ownership.
ABB Marine “Azipod® Performance Management”:
ABB Marine offers “Azipod® Performance Management,” an outcome-based service for its marine propulsion systems. Azipod® systems are used in ships for propulsion, and ABB offers monitoring and predictive maintenance services to optimize their performance.
This allows ship operators to reduce fuel consumption, enhance efficiency, and increase vessel uptime.
KONE “24/7 Connected Services”:
KONE, a leading elevator and escalator manufacturer, introduced “24/7 Connected Services.” This service uses IoT-enabled sensors to monitor elevator performance in real time. KONE can detect potential issues and proactively perform maintenance, minimizing downtime and enhancing safety.
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