AVEVA, a global leader in industrial software driving innovation and sustainability, showcases how industrial organizations are using real-time data to connect teams, empower them with data-led insights that speed up decision-making and unlock business value.
The flagship event, AVEVA World in San Francisco, has brought together more than 2,500 customers, partners, and industry exponents, many of whom are collaboratively leading digital transformation efforts to create new business models and accelerate sustainability, profitability and higher-value work.
“We are witnessing the birth of an industrial universe that is completely connected, enabling a new kind of collaboration across colleagues, suppliers, partners, and customers,” said Peter Herweck, CEO at AVEVA. “Taking a data-centric approach empowers teams by connecting different players across the entire industrial ecosystem. This in turn transforms value chains into agile, profitable, sustainable networks. It is what we at AVEVA mean by the new, connected industrial economy.”
A recent survey, commissioned by AVEVA, of 650 senior international business executives across the chemicals, manufacturing, and power industries in North America, Europe, and the Middle East, found that 87% said they plan to increase their organization’s investment in industrial digital solutions over the next 12months.
Herweck added: “When you bring your data together and apply analytics so that you can visualize it in context, you unlock new ways of working. We are seeing leading companies like Shell and Worley breaking down data silos, building digital twins to deepen collaboration, drive transparency, and deliver actionable insights that enable their teams to work in a smarter and more connected way.”
Bob Parker, Senior Vice President at leading analyst firm IDC, said at a media roundtable today: “A rapidly evolving digital economy is unparalleled in depth and scope after being accelerated by the pandemic. Asset-intensive industry segments of the old economy including oil and gas, utilities, base materials such as chemicals, and consumer packaged goods, are under new pressure on operations to be increasingly resilient. This requires higher levels of asset instrumentation and capabilities that use the data gathered to speed up decision-making and innovation. Ultimately, this is leading to the rise of connected industrial ecosystems.”
Companies with higher digital maturity outperform their peers, according to the IDC Global Performance Index1, which includes more than 900 publicly traded manufacturing companies. Using a base year of 100, those companies that show higher digital maturity enjoy nearly double the revenue (index of 193), which compares to a score of 150 for those with mid-level maturity and 97 for the laggards. Parker said the digital divide will only increase as the world economy becomes digitally dominated over the next 10 years.
AVEVA World has shown how leading companies such as Kellogg, Barry Callebaut, Pfizer, Dominion Energy, and Henn, starting to put in place the building blocks of these connected industrial ecosystems. As the adoption of cloud-based industrial software becomes more widespread, organizations will be able to engage experts within and beyond their enterprise to deliver on innovative capital projects, optimize the operations lifecycle, accelerate decision-making, and reach sustainability targets that drive responsible use of the world’s resources.