ABB Ltd. ABB, the Switzerland-based robotics and power & automation giant, is all set to usher a new era in Internet of People, Things and Services (‘IoPTS’) by launching a variety of products for deployment in next-generation industries. The company has chosen the Hanover Fair at Germany to showcase these products. This will further support the country’s Internet-based networked industries, which reflect the government’s aspirations to adopt renewable energy for power generation.
With the launch, ABB begins the implementation of its remarkable Next Level strategy that aims to increase IoPTS productivity by 30%. The company’s latest offerings can be classified under two broad heads, namely, Automation solutions and Power Industry solutions.
Automation Solutions
YuMi, a dual-arm robot, happens to be the company’s most innovative addition to the automation solutions portfolio. With an existing installed base of 250,000 industrial robots, ABB has already mastered the art of deploying robotics for industrial purpose. YuMi, capable of automating a large number of industrial processes and working in complete collaboration with humans, is considered to be a “paradigm shift” in robotics technology by management.
Decathlon, a high-performance software, will also be added to this portfolio. This software competently analyzes big data sets, creates reports and develops archive for historical data, thereby ensuring timely management of information. Some other products like Field Information Manager, a solution for integrating field devices into process automation as per latest industrial standards, and smartphone apps such as “Drivebase” and “Drivetune” that would improve the productivity of smartphones manifold times, will also be unveiled.
Power Industry Solutions
These apart, ABB will launch one-of-a-kind 525 kV DC polyethylene (XPLE) cabling systems and terminations. With a power rating of up to 2.6 GW, this is ideal for transmitting power over long distances with minimum loss. Additionally, developing an innovative solution for 170 kV GIS systems to improve industrial power consumption marks a commendable accomplishment on the company’s part. Powered with a new kind of insulating gas mixture, the latest solution is a massive improvement over traditional sulfur hexafluoride gas.
All for IoPTS
ABB’s latest products will successfully transform industrial IntRAnets into an industrial IntERnet, that will that not only enhance plant throughput and up-time, but also render the production process highly flexible with optimum capacity utilization. Moreover, since most European countries are striving to reduce adverse environmental impact from power generation by making a conscious shift toward renewable energy, the company anticipates power generation to become unpredictable and fragmented over time.
Consequently, with industrial power accounting for 46% of Germany’s total power consumption, ABB believes future power generation will likely be more decentralized and diverse. Under such a competitive scenario, it will only be rational for customers in industry, power generation and infrastructure to demand highly advanced process-control systems and communications solutions to improve the utilization of IoPTS. Hence, ABB’s concerted efforts to enhance customer experience by strengthening IoPTS are likely to benefit it immensely, going forward.
Zacks Rank
ABB currently has a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the industry include Dycom Industries Inc. DY, ESCO Technologies Inc. ESE and AO Smith Corp. AOS. While Dycom Industries and ESCO Technologies Inc. sport a Zacks Rank #1 (Strong Buy) each, AO Smith carries a Zacks Rank #2 (Buy).
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