What is Industrial Technology?
The term IndTech (Industrial Technology) is about meeting the industry’s demand for digitalization and development on existing equipment and systems. The before quite clear boundaries between IT (Information technology) and OT (Operational Technology) need to rather be combined. There is a clear Industrial demand for IndTech to enable structural and innovative changes.
The operating life of industrial equipment relates to the access of service and spare parts. “Old technology” is not replaced because the priority is stable production rather than machinery and equipment updates. IndTech is sometimes divided into different possibilities such as connected devices i.e. IoT and IIoT sensors, digital capacity through cloud services, advanced data analytics and optimization of collaboration human/machine and more.
New approaches to old problems
Digitalization usually means mobility, cloud, platform, social interaction, internet of things, AI and big data. Often these technologies have a completely different origin than the industry – media, trade, finance and other sectors which are often quite ahead in digital transformation.
When technology from various fields meet it can create new possibilities. An IndTech product is defined for its ability to gather data or calculate / draw results to affect, monitor or optimize processes that contribute to value output within the industry.
IndTech can significantly increase value output including efficiency across the entire industrial setup or system. It enables new business models and partnerships. An example is Strainlabs System and in addition its enablement of Preload Monitoring as a Service.