Oct 28, 2019 (China Knowledge) - A pioneer in driving smart manufacturing, Shanghai Electric Group (601727) (2727) is transforming itself to lead in the new era of Industry 4.0. It has seamlessly combined the latest technologies in the field of artificial intelligence, big data and cloud computing to offer the most advanced services and products to its customers worldwide.
As China’s most recognizable equipment manufacturer, Shanghai Electric takes the lead in transforming many industries’ procurement, manufacturing and resource management. Since 2017 when ‘smart manufacturing’ concepts were new in the marketplace, the Shanghai-based manufacturing powerhouse in the energy, elevator and heavy equipment sector, has integrated artificial intelligence (AI) and big data analytic onto its Industrial Internet of Things (IIoT) to serve its customers.
In tandem with General Electric’s GE Digital and Siemen’s MindSphere, Shanghai Electric’s in-house developed IIoT is capable of fulfilling the ‘smart mode’ in the entire process from manufacturing, resource planning, asset management, and big data utilization. This makes Shanghai Electric competitive not only in the domestic market but on a global scale.
The benefits Shanghai Electric could offer to customers include boosting their revenues by increasing production and creating new hybrid business models, exploit intelligent technologies to fuel innovation, and transform customers’ workforce.
Last month the company launched its cloud version of IIoT known as the “SE unicloud" to the public and potential foreign customers. Its cloud platform is an enabler that integrates applications such as equipment networking, fault diagnosis, remote operation and maintenance, and energy planning. At the start, it has already provided solutions for wind power’s intelligent operation and maintenance, thermal power’s remote operation, and maintenance, machine tool maintenance, energy storage battery, remote control of distributed energy, and other tailor-made applications for numerous industries.
What’s more? According to Shanghai Electric, its SE unicloud seeks to focus on after-sales services, innovating business mode and client-centered services. By building a powerful industrial ecosystem comprising of smart equipment manufacturing, industrial internet, supply chain, and e-commerce, the company can further enable customers, suppliers and partners to collaborate and operate seamlessly on one single platform.
Some early successes can be found in its “iwind” system, “IERT” intelligent rail transportation system and Elevator Connection System, which have successfully put into operation.
A recent report by Forward Industry Research Institute estimated that the market value of China’s IIoT last year reached RMB 531.3 billion, up 14% year-on-year. With the rapid development of AI and 5G industries in China, the application of the two major technologies is expected to further accelerate the IIoT development to hit the RMB 1 trillion mark by 2023, with a compound annual growth rate of 15.2%.
However, questions also arise as how fast and effective enterprises (customers) could adopt the concept of IIoT and integrate the latest technologies like AI, Big Data and cloud computing into its entire procurement, manufacturing, product delivery, and value-added services to their end-users. This remains Shanghai Electric’s challenge, as well as enormous opportunities, to be a leader in engaging Chinese manufacturing enterprises to adopt the applications and the related intertwined software and technologies.
According to Celestial Capital’s research, although the competitive advantage of Siemens, GE, and Shanghai Electric in terms of market data and technology know-how are almost comparable, the key to success depends on their ability to scale up their businesses using the most superior market intelligence and its application of big data.
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