Industrial and Commercial Service providers have been in demand across numerous services, customer segments and geographies.
Buyers of services, typically other businesses, look to such service providers to help them keep their business running smoothly and enable them to focus on their customers. Industrial and Commercial Service companies can capitalize upon these trends with a range of opportunities:
Industrial Internet of Things (“IIoT”)
Continued growth and maturation of the Industrial Internet of Things will enable service providers to deliver greater value to customers and end users, and work more closely with OEMs.
Expand the service model
There are several ways to deliver more value to end customers. Adding more services focused on helping customers improve their business performance can create new growth opportunities and increase stickiness.
Differentiated service offerings
Customers have different wants and are worth different values to a service provider, which open the door to offering alternative services and levels. Providers can create a range of service levels based on value and optimize their costs to serve.
New pricing models
‘Time and materials’ pricing is on the way out as technology enables new pricing models whereby a service provider can capture more of the value it helps to create.
Highly fragmented sub-sectors that will continue to consolidate to capture economies of scale.
Choose carefully the locations and local models that can help drive customer acquisition and retention, as well as help with competitive costs to serve.
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