As the Industrial Internet of Things (IIoT) grows beyond the initial hype into a must-have for business survival, manufacturers from all walks of industry are looking for the best ways to harness the strengths of cloud computing and data analytics. It’s also become increasingly important to provide the services that will help customers gain IIoT advantages as well.
As part of its Transformation 2017 business plan to expand its advanced solutions for the process industries, Yokogawa Electric has acquired Industrial Evolution to provide cloud-based plant data sharing services. Through Industrial Evolution’s cloud business environment, Yokogawa will provide data-as-a-service (DaaS) to generate new value for its customers.
With its cloud-based DaaS technology, Industrial Evolution collects real-time process data from devices and systems at various industrial facilities, and then provides the data to the operators and their customers and vendors. Industrial Evolution can collect data from firewall-protected systems and securely share it with authorized users via website or mobile access.
Industrial Evolution’s data collection and sharing service is used by a wide range of companies. Applications include sharing data on oil and gas field operations among authorized users at multiple companies, as well as real-time sharing of data with investors on facilities that are operated by third parties.
Yokogawa will add these DaaS capabilities to its existing software offerings that enable mainly industrial customers to improve productivity, safety and energy efficiency and optimize facility use.
“At Yokogawa, we are committed to sustaining growth with our customers by identifying the challenges that they face in their businesses and working with them to present solutions that add new value,” said Satoru Kurosu, a director and executive vice president who heads Yokogawa’s Solutions Service Business. “In the industrial segment, Industrial Evolution is a pioneer in the utilization of IoT, and their technology will allow us to expand our range of solutions and provide new value to our customers.’’
Simon Wright, Industrial Evolution’s CEO, also spoke of the benefits to Industrial Evolution’s customers, including Yokogawa’s global reach and expanded capabilities. “By continuing to improve this technology, we seek to become a leading provider of cloud-based advanced solutions,” he said.