Industrial manufacturers will spend on average $121M a year on smart, connected products according to Statista. By 2020, 50% of manufacturers will generate the majority of their revenues from smart, connected products according to Capgemini’s recent study. Manufacturers see 2019 as the breakout year for smart, connected products and the new revenue opportunities they provide. The following graphic from the McKinsey explains why smart, connected product strategies are accelerating across all industries. CPQ Needs To Scale Further To Sell Smart, Connected ProductsSmart, connected products are redefining the principles of product design, manufacturing, sales, marketing, and service.

Source: Forbes December 10, 2018 01:07 UTC