ABB has been ranked a leader in the 2024
Verdantix Green Quadrant for Asset Performance Management (APM) Solutions report, which evaluates software suppliers across 18 capability areas and nine strategic success factors.
Verdanitx has placed ABB in the Leaders quadrant, recognizing the advanced functionality and strategic advantages offered by its products. ABB was also recognized for interoperability and its expertise and capabilities for third-party system integration.
ABB’s change in ranking from challenger to industry leader was also due to its success in combining first-principles models along with advanced AI functionality to enhance asset health and failure prediction. ABB has also invested heavily in several innovation projects, which are in development, such as developments in automation and AI to create dynamic failure modes, effects and criticality analysis (FMECA), digital-twin expansion and a generative AI-based Genix APM Copilot.
The Verdantix report highlighted ABB’s “market-leading platform development capabilities and robust data management support,” awarding the company a maximum score of 3.0 for the development environment provided by the Genix APM platform and suite.
“With asset-intensive industries facing multiple pressures, the evolution towards predictive maintenance solutions is a welcome and necessary one, with Verdantix citing it as the strongest growth area in the run up to 2030,” said Stacey Jones, portfolio manager for APM at ABB Energy Industries. “ABB takes a modular approach to APM, which allows us to meet our customers needs at whatever stage they may be at with their asset management journey, as we are able to incrementally add capability.”
ABB is a technology provider in electrification and automation. The company’s products are designed to connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 140 years of experience, ABB employs more than 105,000 people.
