In a $60 billion market - SmartPumps make a huge impact
The industrial pump market size is somewhere around $60 billion, growing at over 5% CAGR. Considering the enormous global installed base, the product group has a huge impact on both energy usage and overall economy just on its own, but even more so when considering the extended product. When we add to the above numbers the average life of an industrial pump, 15-20 years, we start to understand the enormity of this sector.
Edge-computing and platform-technologies can have an enormous impact on the lifetime value of a pump and its extended operations. Benefits include, in addition to immediate benefits from condition monitoring, a better understanding of the root causes in warranty discussions of user errors, defects in manufacturing, or improperly sized devices.
The Distence solution makes the best from both edge-computing, turning data already at the device level to smart data and then doing further analysis on the smart data on the Condence-platform. The Distence solution offers a platform for the use of AI and neural networks for more sophisticated solutions.