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YC Shift: The IoT players’ client, i.e., machine builder companies, could gain incremental revenues by offering an ecosystem of connected machines to its end client. IoT players could provide a range of equipment or components, such as sensors and other connectivity platforms and solutions, to be integrated into machines, making them a connected system.

Unknowns: Data extracted from machines using IoT technologies helps reduce downtime, which ultimately lowers revenue losses. It has been estimated that there will be an increase in demand for connected machines in the future, as they help in saving revenue. The use of IoT technologies in machines has the potential to change the entire ecosystem of the machine builder market.

RI Created: MNM advised the client to tap into markets that require machines, such as industrial robots, machine tools, and pharmaceuticals. Targeting machine manufacturers in these industries can help the client generate approximately USD 100 million over the next five years. MNM also identified important players in the ecosystem of the machine builder market for the client to target on priority.