Nov 25, 2020
The future of inverters and the rise of industrial Internet of Things
Nowadays, variable frequency drives (VFD) are becoming increasingly popular in the pump market because the rise of their technology is parallel to the rise in global energy costs. The VFD allows the user to consume the least power while obtaining the proper pressure and flow from the pump. An additional benefit is that reduced power consumption can reduce overall costs. At the same time, VFD also provides a single point of connection for multiple sensors and data points.
McKinsey’s report “Internet of Things: Beyond the Hype Value” states that “a typical oil rig today may use 30,000 sensors to observe the performance of dozens of systems.”
Systems like those used in petroleum and other industries include a large number of pumps and hydraulic systems with VFDs. VFDs and sensors are the central point of data collection, and many manufacturers and end users have not used them to harm their future.
The rise of the Industrial Internet of Things (IIoT) has enabled the pump and VFD markets to obtain incredible value from these data points.
Benefits of Industrial IoT
Pump equipment manufacturers and their end users have professional advantages and can get benefits from IIoT connectivity and pump efficiency. By providing automatic alerts based on system optimization, IIoT enables manufacturers and end users to benefit from full-time monitoring and control, thereby reducing:
This kind of automation and predictive control can significantly save costs and increase productivity, providing end users and original equipment manufacturers (OEMs) with a competitive advantage.
Why is IIoT for VFD so influential and important? Take the end users of industrial pumps, for example, oil and gas or mining companies. Their equipment consumes a lot of water every day, and at the same time damages profits due to high energy consumption and unplanned machine maintenance. This can be prevented.
Let's take an example-by embedding sensors in industrial pumps and connecting them to the web, you can increase the flow with a standard 100 horsepower (hp) industrial pump, saving thousands of dollars in energy. It is for this reason that McKinsey’s report also pointed out that “the operational improvement of IoT applications may exceed US$470 billion per year in the workplace in 2025. The second major source of value-possibly more than US$360 billion per year-will improve equipment Maintenance. "The value of IIoT integration is very practical for cost savings and revenue generation.
But the benefits of IIoT don't stop at the end user. OEMs that provide IIoT solutions for energy-saving products, automation, predictive analysis or advanced control are seizing higher than market growth. Connectivity also allows the creation of high-value new databases that manufacturers can use to improve products and create more sticky customer relationships. The data generated for the IIoT remote monitoring solution provides unprecedented analysis of the nature of device usage and performance.
This is a valuable piece of information that can help companies anticipate end-user needs and drive innovation.
With the further integration of machines, technology, and personnel and unleashing an unprecedented level of efficiency that business leaders call the Fourth Industrial Revolution, the IIoT sector may become one of the biggest drivers of global productivity and growth in the next decade.
Most importantly, all VFDs will eventually be connected through the IIoT solution. In fact, the future is happening, and industrial companies that abandon IIoT digital solutions face a simple but real danger: irrelevance. IIoT solutions are about to be widely adopted by global companies and end users, all of which will cause huge damage to those who have not undergone digital transformation, and provide huge opportunities for those who choose the value-abundant path of digital transformation.