AVT Question: Please share insight into your company's roadmap for 2024.
Thought Leader: Omer Brookstein, Chief Executive Officer at Xyte
The landscape of device and hardware manufacturing is shifting profoundly due to hardware commoditization and evolving customer preferences. In response to these changes, manufacturers have been compelled to reassess their business strategies. Original equipment manufacturers (OEMs) are pivoting towards offering integrated business solutions that encompass hardware, software, and services.
As 2024 unfolds, Xyte Device Cloud, a comprehensive servitization platform, is poised for significant growth following a successful $30 million investment round.
The investment will propel Xyte on its mission to support connected device manufacturers across diverse industries. With a focus on advancing capabilities and reach, the funding will fuel the company's success trajectory and expedite its expansion, particularly in North America and Europe.
By facilitating a shared ecosystem, Xyte aims to enhance efficiency and collaboration across AV and other industries, enabling manufacturers and their partners to optimize and lengthen the life cycle of connected devices. " —Omer Brookstein, Chief Executive Officer at Xyte
For the AV industry, Xyte is an AV-as-a-Service (AVaaS) enabler, allowing manufacturers to provide remote support and remote device management capabilities to their channel partners and customers. Yet AVaaS is a concept that encompasses much more—a direct engagement of OEMs with their customer base. This brings with it the option to tap into additional revenue streams beyond the initial sales, with the ability to provide additional functionalities on demand without requiring new hardware, eliminating the need to replace products, and allowing faster time to market for new features.
Throughout 2024 Xyte is set to unveil a series of enhancements. At ISE, Xyte introduced Xyte Connect, which empowers OEMs and their industry partners to share data via the cloud. Xyte Connect fosters collaboration on various fronts, including device configuration, setup, support, updates, and comprehensive monitoring and management. By facilitating this shared ecosystem, Xyte aims to enhance efficiency and collaboration across AV and other industries, enabling manufacturers and their partners to optimize and lengthen the life cycle of connected devices.
With AVaaS, OEMs are able to extract more value from their products, fostering customer loyalty and a competitive edge in the dynamic AV market.
