Ingersoll Rand

Ingersoll Rand is best known for its industrial air systems: oil-flooded and oil-free rotary screw compressors, centrifugal compressors, dryers, filters, vacuum pumps, and blowers—core equipment that keeps factories running by powering production lines, packaging systems, and even sterile environments in pharmaceuticals. Increasingly, these machines are Helix Connected Platform-ready, with on-board sensors that feed performance and health data to the cloud. Operators get real-time dashboards, automated alerts, and predictive maintenance cues, giving them visibility into system performance and helping them prevent costly downtime. The company’s emphasis is shifting from selling hardware to ensuring “Intelligent Uptime,” where connectivity and remote monitoring keep air quality and output consistent.

While customers still purchase equipment, Ingersoll Rand layers recurring services and connectivity on top. The CARE maintenance programs bundle scheduled upkeep, diagnostics, predictive analytics and repairs; customers can add remote monitoring via Helix for continuous insights. Ingersoll also markets Payment Solutions that explicitly offer Equipment-as-a-Service (EaaS) options—tailored payment plans to access equipment as an operating expense rather than CapEx. Strategically, the company has set a formal goal to grow enterprise recurring revenue to ~$1 billion by 2027, driven by subscriptions, service, parts and replacement cycles. This evolution highlights a hybrid HaaS strategy: customers still buy the hardware, but its true value now comes from the connected services that keep it running.

“At its core, remote monitoring is the catalyst that enables a model like this,” says Vikram Kinney, CFO at Ingersoll Rand. “For us, it’s really a means to an end. Every machine that leaves our facility is IIoT-enabled; it’s simply a matter of turning that connectivity on with the customer. Once enabled, we can monitor the equipment, and it becomes ripe for supporting the aftermarket—particularly through recurring revenue.”