AVEVA has combined with Schneider Electric’s industrial software business to drive digital transformation across the asset and operational life cycle for capital-intensive industries.
The combination brings together AVEVA’s design, engineering and construction capabilities with Schneider Electric’s industrial software business, which ranges from simulation through to real-time manufacturing operations management.
Craig Hayman, Chief Executive Officer at AVEVA, said: “88% of leaders in capital-intensive industries say that digitalisation would increase their revenues, yet less than half of these companies are actually in the process of adopting a digital strategy. This represents an incredible opportunity for AVEVA to be our customer’s digital transformation partner.
“Digitalisation demands a fundamental rethink of the way organisations operate. They need to be confident that their technology investment will deliver a high return on capital and can lower the total cost of asset ownership. AVEVA’s combination of proven solutions, industry-specific knowledge and a global partner ecosystem will drive innovation across capital-intensive industries, as companies plan their digital transformation journey.”
Response from analysts
Monica Schnitger, Schnitger Corp., said: “The combination of AVEVA and Schneider Electric’s industrial software business brings together CAPEX and OPEX, creating a path to digitalisation from conceptual design to commissioning, and from operations back to revamps. Many industrial businesses already use software from both companies and look forward to the benefits of having these products under one developer umbrella. Adding in real-time production performance moves the industry one step closer to realising a digital asset that operates with full knowledge of its physical layout as well as the underlying physics of the process being conducted. I’m excited to see how AVEVA integrates processes, products and people.”
Craig Resnick, ARC Advisory Group, added: “New technologies are accelerating the merging of the virtual design and physical equipment worlds, requiring the creation of new business models that must support the convergence IT, OT and ET to enable digital services. The convergence of solutions from both AVEVA and Schneider Electric’s industrial software business enables its customers to take full advantage of the complete spectrum of technologies and solutions needed to increase both their top and bottom lines to better thrive in an ultra-competitive global economy.”
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/01032018/aveva-and-schneider-electric-team-up/