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Having had some time to decompress (and a somewhat full IIoT blog queue) from a somewhat poorly attended OTC (attendance of 68,000 was down over 28% from last year) due to a “lower for longer” oil price environment, it was encouraging to see increasing signs (and sounds) of IIoT, Big Data, advanced analytics and machine learning. Walking the show floor, I also heard more than a few mentions of drones, which appeared in a couple of booths.
There were some specific examples of IIoT enabled solutions on display such as ABB’s smart sensor solution for an intelligent motor that significantly cuts downtime and extends motor lifespan; GE Oil & Gas ran several interesting sessions on Digital Oilfield, well optimization, production optimization, and several more interesting topics; and several companies including Schneider Electric were showing off Virtual Reality/Augmented Reality headset type solutions at their booths. Meetings with executives from Emerson Process Management, Rockwell Automation, GE Oil & Gas, ABB, Siemens, and Yokogawa only served to confirm the importance that these Automation powerhouses place on how the future of IIoT-enabled solutions will create value for their customers. There were a number of smaller companies promoting analytical software solutions for remote monitoring, asset performance management (APM) and other key operational areas for which IIoT enabled solutions can provide real business value.
Note to self for next year's OTC - schedule fewer meetings to enable more time to walk the other parts of the conference including the Pavilion and the Arena in order to have more time to see what will likely be even more IIoT-enabled solutions and discussion. Hoping that next year’s OTC will be better attended as oil prices hopefully will continue to recover and provide the industry with much needed breathing room and also some time for companies to invest in IIoT-enabled solutions to better position themselves for an uncertain future.
There were some specific examples of IIoT enabled solutions on display such as ABB’s smart sensor solution for an intelligent motor that significantly cuts downtime and extends motor lifespan; GE Oil & Gas ran several interesting sessions on Digital Oilfield, well optimization, production optimization, and several more interesting topics; and several companies including Schneider Electric were showing off Virtual Reality/Augmented Reality headset type solutions at their booths. Meetings with executives from Emerson Process Management, Rockwell Automation, GE Oil & Gas, ABB, Siemens, and Yokogawa only served to confirm the importance that these Automation powerhouses place on how the future of IIoT-enabled solutions will create value for their customers. There were a number of smaller companies promoting analytical software solutions for remote monitoring, asset performance management (APM) and other key operational areas for which IIoT enabled solutions can provide real business value.
Note to self for next year's OTC - schedule fewer meetings to enable more time to walk the other parts of the conference including the Pavilion and the Arena in order to have more time to see what will likely be even more IIoT-enabled solutions and discussion. Hoping that next year’s OTC will be better attended as oil prices hopefully will continue to recover and provide the industry with much needed breathing room and also some time for companies to invest in IIoT-enabled solutions to better position themselves for an uncertain future.