Posted to News on 17th Jul 2024, 15:00
ABB recognised as a leader in asset performance management
ABB has been ranked a leader in the 2024 Verdantix Green Quadrant for Asset Performance Management (APM) Solutions report, which evaluates software suppliers across 18 capability areas and nine strategic success factors.
(See ABB at MachineBuilding.Live, 2 October 2024, on stand 29)
Verdanitx has placed ABB in the Leaders quadrant, recognising the advanced functionality and strategic advantages offered by its solutions. ABB was also recognised for interoperability and its expertise and capabilities for third-party system integration.
ABB's change in ranking from challenger to industry leader was also due to its success in combining first-principles models along with advanced AI functionality to enhance asset health and failure prediction. ABB has also invested heavily in several innovation projects, which are in development, such as developments in automation and AI to create dynamic Failure Modes, Effects and Criticality Analysis (FMECA), digital twin expansion and a generative AI-based Genix APM Copilot.
The advances will accelerate APM software deployments, shorten time to value, improve user experience, provide richer contextualisation and support safer and more sustainable operations.
The Verdantix report1 highlighted ABB's "market-leading platform development capabilities and robust data management support", awarding the company a maximum score of 3.0 for the development environment provided by the Genix APM platform and suite.
"With asset-intensive industries facing multiple pressures, the evolution towards predictive maintenance solutions is a welcome and necessary one, with Verdantix citing it as the strongest growth area in the run up to 2030," said Stacey Jones, Portfolio Manager for APM at ABB Energy Industries.
"ABB takes a modular approach to APM which allows us to meet our customers' needs, at whatever stage they may be at with their asset management journey, as we are able to incrementally add capability. This recognition from Verdantix is testament to our continuous efforts to provide leading APM solutions that optimise asset performance and operational efficiency, supporting our customers' journey towards digital transformation, energy management and sustainability."
Verdantix also recognised ABB's strong asset health workflows for above-average case management. Delivering the functionality to comprehensively track asset health and performance, predict failures and provide recommendations for equipment. As well as ABB's performance in leveraging pre-built capabilities and AI-driven analytics to provide deep insights into asset health.
