Digital Plant professionals predict that for many early adopters, 2019 will mark the beginning of a significant return on investment in Industry 4.0 software and technology.
Despite political and economic uncertainty, sustained adoption and integration of software will be a consistent theme throughout 2019 as traditional industrial sectors continue to tackle digital transformation.
Emerging technology will also continue to thrive and rapidly change the products and services we’re familiar with as manufacturers and end-users continue pushing towards operational excellence initiatives. As a result, the digital toolkit will be bigger than ever!
The global energy sector has invested heavily in cybersecurity solutions to protect itself from the growing threat of data breaches and system outages. Emerging technology is commonly targeted by cyber attackers thanks to a lack of security testing and protection.
We have already seen new cybersecurity platforms for the UK energy sector, and many experts are predicting an increase in sophisticated security technology to help bridge the skills gap in operational technology security.
Digital twinning gained momentum over 2018, proving advantageous in various key areas including asset performance, maintenance and design.
By taking a digital simulation of an asset, companies can now accurately report on key performance indicators which will improves process, reduces expenditure, unplanned downtime, fuel use and assists in energy trading decisions.
Digital twins are proving to be a significant contributor towards achieving digital transformation for the global energy sector alongside operational excellence, so expect further adoption and integration in 2019.
Blockchain technology is consistently highlighted as an exciting concept for energy companies to address many barriers to growth including “high operating costs, aging grids, security, regulatory compliance and personalised customer service”.
According to reports, blockchain technology could be a leading enabler of decentralization, democratization, and liberalisation in the power industry. Could 2019 mark a breakthrough year for the technology?
Digital Plant Report 2019
We spent large parts of 2018 speaking with sales managers and leaders in the Digital Plant market to uncover competitor employment offerings, bonuses and candidate motivations.