The Digital Solutions business (DS) combines sophisticated hardware technologies with enterprise-class software products and analytics to connect industrial assets, providing customers with the data, safety and security needed to reliably and efficiently improve operations.
The DS portfolio includes Measurement and Controls technologies such as condition monitoring, measurement and sensing, inspection and process and pipeline services for industries including oil and gas, power, aviation and transportation. We also offer purpose-built software solutions that deliver intelligent, fullstream insights for oil and gas businesses.
POSITIONED TO WIN
Last year, the DS business continued to gain market traction with substantial order growth, despite the ongoing market challenges. We are seeing early signs of recovery in oil and gas, aviation and automation, but demand for DS products in power generation remains muted.
Digital adoption across the oil and gas industry is accelerating, with leading companies deploying software to simplify operations and capture their share of the up to $1 trillion of economic value at stake through digitalization for oil and gas firms by 2025.*
We are focused on growing both our hardware and software businesses. We are intensifying our commercial efforts to expand our presence across our product lines and grow our differentiated software offerings. Our asset performance management application, for instance, connects disparate data sources and uses advanced analytics to optimize maintenance costs, mitigate operational risks and reduce total cost of ownership. Our IntelliStream™ software package delivers enhanced productivity and reduces operational complexity with features such as scenario analysis; stress, torque, load and pattern identification; lost production heat mapping; and well and equipment health monitoring.
The demand for digital products and solutions is surging. With the combination of deep hardware and software capabilities, DS is well positioned for growth.
* Digital Transformation Initiative: Oil and Gas Industry, World Economic Forum, January 2017 http://reports. weforum.org/digital-transformation/wp-content/blogs. dir/94/mp/files/pages/files/dti-oil-and-gas-industrywhite- paper.pdf
PRODUCT AND SERVICE PORTFOLIO
Measurement and Sensing
Process and Pipeline Services