Driving IoT-enabled Digital Transformation in HVACR

The global heating, ventilation, air conditioning and refrigeration (HVACR) industry is a multi-billion-dollar market, yet characterized by declining growth, low margins and slow innovation. In addition, the scarcity of specialized technical labor especially in north America is driving the need for technology-led change among consumer and commercial manufacturers. Sensor technologies and connected versions of water heaters, boilers, thermostats, coolers and ventilation systems are driving transformative change through newer business models, higher product quality and overall enhanced end customer experience.

Key HVACR Use Cases

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    Diagnostic monitoring and predictive maintenance – remote monitoring of expensive heating & cooling equipment through data analysis and enabling a condition-based maintenance model
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    Product usage and quality – using device data to better understand product usage, utilization rates and ability to detect & fix system anomalies more effectively
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    New business models – opportunity for manufacturers to migrate to innovative subscription (as-a-service) based lease models and create a more productive relationships with dealers and end customers

Business Benefits

The value proposition to HVACR OEMs includes

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    Lower cost of maintenance, servicing and support of existing deployed systems
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    New growth opportunity by unlocking subscription revenue streams such as for device protection

Improved visibility to asset utilization & performance, resulting in enhanced customer experience