ABB energizes Enlit with latest industry insights

Today, on the first day of Enlit Europe 2023 in Paris, ABB launches two industry reports, sharing insights on the key digitalization and sustainability trends that are shaping the energy transition.

From the progress global organizations are making on their digitalization journeys to guidance on how to adopt circularity to reduce total cost of ownership and improve sustainability by extending the lifetime of power distribution assets, ABB will be debating the key challenges facing the sector and outlining potential solutions.

Stuart Thompson, President of ABB Electrification Service, explains: “The global geopolitical landscape has failed to stabilize in 2023, with continuing volatility impacting financial markets, supply chains and energy security. At the same time, the UN is calling for urgent action to accelerate the climate transition before it’s too late.

“In response, businesses need to focus on reducing capex, improving operational productivity and maximizing the assets they already have. In 2024, we expect this to result in an increased adoption of connected digital technologies, retrofitting and circularity. When done right, this can lead not only to cost and energy efficiencies, but also set business on an accelerated path to decarbonization.”

The first report, ABB’s digitalization white paper See the full potential of digital, faster provides an overview of where industrial organizations are in their digitalization journey and how they can scale the adoption of IIoT. Based on research of more than 300 industrial decision makers across seven markets and nine industries, including utilities, data centers, renewable energy and transport infrastructure, 93 percent of organizations have started implementing IIoT technologies such as sensors and monitoring software to cut costs and improve operational and energy efficiency.

According to the findings, many organizations have embarked on their digitalization journey, however the majority are still in the early stages. While 78 percent say IIoT is delivering business value, seven percent have not started their IIoT journey, 31 percent are just getting started, 41 percent are starting to scale and only 21 percent are mature. This means most businesses are not yet in a position to experience the long-term benefits of digitalization, such as full visibility into operations and reduced energy consumption.

The report goes on to explain how organizations, including utilities and other industrial players, can overcome barriers to deployment and develop a comprehensive digitalization roadmap to determine where technology should be deployed and in what functions to demonstrate the true value of IIoT.

Antonio Martinez-Reina, Utilities & Renewables Global Leader from ABB explains: “The research highlighted utilities as one of the segments most at risk from using time-intensive or potentially costly, reactive maintenance programs. Running equipment to failure can cost up to 10 times more than investing in a program of predictive-based or condition-based maintenance, which extends the lifecycle and productivity of electrical assets.

“Rather than seeing digitalization as adding complexity to a system which is already working, digitalization must be embraced as a means to reducing complexity, minimizing disruption and costs and ensuring greater visibility, interoperability and sustainable operations.”

Martinez-Reina concludes: “Achieving digitalization at scale requires sound planning and investment; and potentially targeting under-exploited areas for competitive advantage, such as being among the first in digitalizing electrical systems.”

This area is explored further in ABB’s second report Tackling Throwaway Culture – a guide to embracing circular economics, which will be a key focus for global businesses in 2024. This approach is particularly useful in extending the life of power distribution assets, which, when maintained, upgraded, and eventually decommissioned effectively, can deliver significant cost savings and help minimize environmental impact by avoiding emissions.

As a leading authority in electrical infrastructure, operational asset management and digital innovations, ABB Electrification Service has been at the forefront of championing a transformative approach to extend the life of power distribution assets and curtail life cycle emissions for improved availability, reliability, predictability and sustainability of electrical installations.

The guide offers a range of practical ideas for implementing circularity in asset management, from optimizing predictive maintenance and condition monitoring to adopting a ‘component-only’ approach to retrofitting and upgrades, as well as covering decommissioning of systems, responsible end-of-life disposal and future market developments in the circular asset management space.

To find out more about ABB’s industry insight visit the team in meeting room 3 in Pavillion 7.3. Download the Tackling Throwaway Culture guide.

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About ABB

ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 130 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation.

Electrifying the world in a safe, smart and sustainable way, ABB Electrification is a global technology leader in electrical distribution and management from source to socket. As the world’s demand for electricity grows, our 50,000+ employees across 100 countries collaborate with customers and partners to transform how people connect, live and work.

We develop innovative products, solutions and digital technologies that enable energy efficiency and a low carbon society across all sectors. By applying global scale with local expertise, we shape and support global trends, deliver excellence for customers and power a sustainable future for society.

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