Software has emerged as the most critical component in products today. The lines of code in products have increased to unprecedented levels, while technologies such as Artificial Intelligence (AI) / Machine Learning (ML), Internet of Things (IoT), 5G, and Augmented Reality (AR) / Virtual Reality (VR) are being embedded into products to make them connected, smart, and autonomous. The growing significance of these technologies has led enterprises to embark on a journey of softwarization, which refers to the increasing share of software and digital technologies in physical products that add smart, connected, and autonomous features and convert the products into digital products.
This conversion of physical products into digital products via softwarization enables enterprises to monitor, control, optimize, and automate their products and processes. The twin levers of software and connectivity are also increasingly critical for enterprises developing new, as-a-service revenue models.
This research dives deeper into the phenomenon of softwarization to explore use cases across industries and the common pitfalls that engineering enterprises should watch out for as they embark and continue on their softwarization journeys.
Scope
Industry: All
Geography: global
Contents
This research presents Everest Group’s view on softwarization and examines the following:
Drivers of softwarization
Current state of digital product engineering maturity
Key enterprises challenges in softwarization
A framework for enterprises to harness the full potential of digital products
