GE Digital Partners With TrendMiner To Boost Overall Plant Performance For Energy And Resources Industries

GE Digital Partners With TrendMiner To Boost Overall Plant Performance For Energy And Resources Industries

Last week, GE Digital announced a strategic partnership with TrendMiner, which offers advanced analytics software to optimize process performance. Founded in 2013 and headquartered in Belgium, TrendMiner was acquired by Software AG in 2018. With this partnership, GE Digital seeks to combine its leading solution for asset performance management (APM) with TrendMiner’s solution to analyze as well as monitor process or production data to predict anomalies, offering customers in the energy and resources industries an integrated solution to improve overall plant performance. 

In the recently published Verdantix operational excellence global corporate survey, nearly half (49%) of the 301 executives in operations, maintenance, engineering and process safety roles mentioned production or yield optimization to be a high priority for their firms in 2023. Process optimization was also mentioned as a top priority to improve in the Verdantix 2021 operational excellence global corporate survey. High energy prices and tougher economic conditions coupled with corporate decarbonization targets and mounting regulatory pressure to reduce emissions are driving firms to maximise productivity and quality while minimizing their firm’s carbon footprint. This means that digital technologies such as APM software, which traditionally provided advanced analytics for asset health monitoring and failure prediction are evolving beyond focusing just on maintenance optimization to encompass process optimization, investment planning and environmental impact. 

Vendor strategies are evolving too in line with expanding customer requirements. In May 2022 Augury, the New York as well as Israel headquartered provider of AI-driven solutions for machine health announced that it had entered into a definitive agreement to acquire Seebo, an AI-based solution provider to prevent production losses and improve quality and yield for manufacturing firms. Similarly in June 2022, Siemens Digital Industries acquired Senseye, the UK headquartered provider of predictive maintenance software.

Expect to see more of such partnerships and M&As combining asset-specific insights with process-level insights in 2023 for efficient and sustainable plant operations.
For more information on industrial asset maintenance and performance management solutions visit the Verdantix Operational Excellence research website.