IIoT is a $30 Billion Potential for Air Pollution Suppliers
The elimination of operating personnel at the plant, automation revenues and expansion of services will provide an opportunity for air pollution equipment and component suppliers which will exceed $30 billion per year by 2026. This is the prediction of the McIlvaine Company in Industrial IOT and Remote O&M and the subject of a free webinar Thursday, April 13 at 10 a.m. Weekly IIoT Webinars.
Fifty percent of the revenue potential is from increased purchases. The other fifty percent is from purchases that will be delivered through the IIoT route rather than through traditional routes. Filter bags, valves, fans, conveyors, continuous emissions monitoring systems and reagent delivery will be monitored and serviced through the IIoT ecosystem. In the new IIoT environment the fan and valve suppliers will be viewing health data on their products through the cloud. The APC system supplier has the opportunity to become the BOO (build, own, operate) supplier of these systems or he can abdicate and let a digital process management company such as Accenture, the plant supplier, such as GE, the consulting company such as AECOM, or end user based enterprises take the lead.
The air pollution system of the future will be operated and maintenance scheduled through remote monitoring and control. There will be a BOO supplier who remotely monitors all components in the system. However, this cloud-based system will also supply continuous data on each major component to the supplier of that component. When a problem or opportunity arises, there will be a tier based solution. For simple problems, the BOO operator will provide the answers or defer to a generalist and the supplier company.
For difficult or important problems and opportunities the BOO operator will bring in “subject matter specialists”. McIlvaine believes that this domain expertise is not only the key to IIoT success but the biggest opportunity for APC system suppliers. In fact, McIlvaine argues that the Industrial Internet of Wisdom (IIoW) will generate more revenues for suppliers than IIoT.
McIlvaine is identifying the opportunities for IIOT and Remote O&M relative to each APC technology including power plant FGD & NOx control, industrial scrubbing, absorption and adsorption, fabric filtration, electrostatic precipitation, thermal oxidation, and NOx control from industrial sources and engines.