The confluence of connectivity, app development, data management, and cloud storage capabilities is driving greenfield technology implementation decisions in an otherwise brownfield world. But the factors driving IoT strategy decisions are complex; companies want to standardize on their service of choice to scale their connected endpoint infrastructure, yet lack a common set of tools to operationalize the intended efficiency improvements. Meanwhile, the 15- to 20-year lifespan of industrial systems is such that OEMs need to support a combination of legacy installations and upgrade cycles in the course of operation. The trend that companies are now capitalizing on can be characterized as a blending of the digital- and physical-first worlds.
Optimized and fully connected machines provide more efficient systems, service, and support, with greater flexibility, at a lower cost. For fluid equipment machines, such as pumps, the addition of sensors and associated software creates an ‘’intelligent pump system’’ that can monitor, manage, and control real-time operations (e.g., flow and fluid pressure management). These systems consist of data-generating endpoints that can be integrated across cloud, monitoring, and control-based infrastructures.
This research analysis examines what ABI Research considers to be the most significant trends and developments related to connected and intelligent industrial pump systems, the impact of such technologies on the traditional pump market, and key factors influencing IIoT strategy decisions.