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  4. > Avoiding the Kodak Moment—Making Sense of IoT, Analytics, and Technology Disruption in the North American Smart Pumps Market

Innovative Game Changers are Delivering Niche Products as Pump Manufacturers Remain Slow to Adapt

Technology convergence is driving unprecedented change in the manufacturing and process industry. This inspired the term "Kodak Moment," which means a new competitor completely alters the industry’s business model and the incumbent withers away unable to weather the change. The pumps industry is poised to experience the Kodak Moment. This research looks at the transforming pumps landscape, evolving end-user needs, and the gaps in current solutions. It draws inspiration from several other industries to provide insights into how manufacturers can leverage change and capitalize on emerging opportunities through understanding the nuance of the market. Tips are provided on how to develop a compelling solution and create a successful strategy.

Executive Summary

Kodak Moment: Move Fast or Die Soon
- If you do not have an analytics strategy in the next 3 years, your company will not survive after 10 years.
- With the typical product development and launch cycle, pump manufacturers need to act now to avoid the Kodak moment.

New Business Model: Doing More of the Same is a Sure Way to Fail
- It is not product vs. product anymore. Instead, the focus is on platform and ecosystem. In a platform vs. platform match, it is either win big or lose small.

Killer Apps: Develop Key Features
Worth Purchasing
- The market is moving from evolutionary innovation to revolutionary innovation with focus on developing features end-users require.

Analytics Quandary: Software and Pumps are not Mutually Exclusive
- “If you went to bed as an industrial company, you’re going to wake up as a software and analytics company,” Jeff Immelt, CEO. No longer, can pump manufacturers focus only on hardware.

Insights not Data: Focus on
Prescriptive Analytics
- End users are saying no to Big Data, and instead require actionable insights based on prescriptive analytics

Talk to Our Experts
- Reinventing the business model and developing a new revenue stream is stressful, so take the help of experts.

Table Of Contents

Avoiding the Kodak Moment—Making Sense of IoT, Analytics, and Technology Disruption in the North American Smart Pumps Market
1. EXECUTIVE SUMMARY

Executive Summary
Market Engineering Measurements

2. STRATEGIC INSIGHTS

Strategic Insights
Kodak Moment—Move Fast or Die Soon
Analytics Quandary—Software and Pumps are not Mutually Exclusive
New Business Model—Doing More of the Same is a Sure Way to Fail
Insights Not Data—Focus on Prescriptive Analytics
Killer Apps—Develop Key Features Worth Purchasing
Talk to Our Experts

3. MARKET OVERVIEW

Market Overview
Research Scope and Market Definitions
Key Questions this Study will Answer
Research Structure

4. DRIVERS AND RESTRAINTS—SMART PUMPS MARKET

Drivers and Restraints—Smart Pumps Market
Market Drivers
Drivers Explained—Convergence of Industry Forces
Drivers Explained—Emergence of Digital Transformation
Drivers Explained—Explosion in Connected Devices
Drivers Explained—Evolution of Service Models
Market Restraints
Restraints Explained—Fragmented Vendor Landscape
Restraints Explained—Economic Conditions
Restraints Explained—Risk of Cyber Security
Restraints Explained—End-user Acceptance

5. MARKET INSIGHTS—FORECASTS AND TRENDS

Market Insights—Forecasts and Trends
Market Engineering Measurements
Smart Pumps Market—Revenue Forecast
Smart Pumps Market—3 Case Scenarios
Revenue Forecast Discussion
Smart Pumps Market—End-user Segments
Smart Pumps Market—Opportunity Analysis
Vertical Market Revenue Forecast Discussion

6. TECHNOLOGY INSIGHT—TECHNOLOGY TRENDS, EVOLUTION, AND FUTURE FOCUS FOR PUMPS

Technology Insight—Technology Trends, Evolution, and Future Focus for Pumps
Changing Process Equipment Landscape: Adapt or Perish
Pump Technology Evolution Landscape
Challenges with Existing Solutions
Blueprint for Smart Pumps

7. BUSINESS INSIGHTS—ANALYTICS CASE EXAMPLES AND IMPLICATIONS FOR PUMPS

Business Insights—Analytics Case Examples and Implications for Pumps
Case Study 1—Evolution of Decision Making
Implications for Pumps—Changes in End-user's Approach
Implications for Pumps—Energy Efficiency
Case Study 2: Smart Farms-Sensorization of Agriculture
Implications for Pumps—Systems not Products
Implications for Pumps—Push Data to Clients
Case Study 3: IoT + Smart Devices = Smart Gas Pumps
Implications for Pumps—Revolutionary Innovation
Implications for Pumps: Killer Application

8. COMPETITIVE INSIGHTS—FORECASTS AND TRENDS

Competitive Insights—Forecasts and Trends
Existing Ecosystem—Key Value Chain Participants
Transformation in Industry Ecosystem
Case Study: New Business Model Innovation
Smart Pumps: Need for Connected Ecosystem
Smart Pump Technology Curve: Top 10 Pump Participants
New Entrants Vie for a Slice of IIoT
Acquisition Radar

9. THE LAST WORD

The Last Word
The Last Word—3 Big Predictions
Legal Disclaimer

10. APPENDIX

Appendix
Additional Sources of Information on the Pumps Industry

11. THE FROST and SULLIVAN STORY

The Frost and Sullivan Story
Value Proposition: Future of Your Company and Career
Global Perspective
Industry Convergence
360º Research Perspective
Implementation Excellence
Our Blue Ocean Strategy

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