Industry 4.0 has increasingly gained prominence, with Industrial IoT (IIoT) solutions spearheading digital transformation within OEM enterprises. Presently, businesses prioritize the development of machinery showcasing reduced energy consumption, lowered cost of ownership, and heightened efficiencies throughout the asset’s lifespan. Simultaneously, the emergence of cutting-edge connectivity technologies like 5G empowers manufacturers to harness automation, artificial intelligence, augmented reality, and the Internet of Things (IoT) for the establishment of smart factories. Recognizing the potential for enhanced service efficiency, product features, and the introduction of new services through machinery, manufacturers are seeking Industrial IoT solutions to facilitate these capabilities. Nevertheless, OEMs face challenges concerning interoperability, integration with existing infrastructure, and keeping abreast of evolving technologies.