Otis Elevator is one of the world`s leading manufacturers of vertical transportation systems. Founded in 1853, the company has been at the forefront of innovation when it comes to elevators and other related products. In recent news, Otis Elevator has signed an agreement with Microsoft to utilize the tech giant`s Azure cloud platform for its Elevator Predictive Maintenance (EPM) solution.
This agreement is a significant milestone for Otis Elevator, given that the adoption of cloud-based solutions has become increasingly important in the elevators and escalators market. With the help of Microsoft`s Azure cloud platform, Otis Elevator`s EPM solution will use artificial intelligence, machine learning, and IoT technologies to provide predictive maintenance for its customers.
Otis Elevator`s EPM solution uses data from elevators globally to predict maintenance requirements, reducing downtime and increasing efficiency. The solution is already in use in more than 300,000 elevators worldwide and has helped reduce service call volumes by up to 50%.
The adoption of cloud-based solutions is a significant trend in the elevator market, as the need for digital transformation increases due to the growing demand for real-time data analytics and predictive maintenance. Otis Elevator`s agreement with Microsoft is a reflection of its commitment to providing innovative technology solutions to its customers.
The partnership with Microsoft also demonstrates the increasing importance of collaboration between technology companies and traditional manufacturing firms. Otis Elevator is leveraging Microsoft`s expertise in cloud-based solutions to enhance its already robust EPM solution, which is a win-win situation for both companies.
In conclusion, Otis Elevator`s agreement with Microsoft is a significant development in the elevator industry. The adoption of cloud-based solutions will help Otis Elevator provide more efficient and reliable services to its customers, while also helping it stay ahead of its competitors. This agreement also highlights the importance of collaboration between traditional manufacturing firms and technology companies, which will continue to drive innovation and transformation in various industries, including the elevator market.