IndTech, the technology that makes the industry smart!
There are many technologies used to make the industry smarter, including; cloud computing, augmented virtual and mixed reality (AR, VR, XR), artificial intelligence, 5G, internet of things, big data, block chain, user experience and digital twins. Many of these technologies are developed for industries other than industry, such as augmented and virtual reality, which were initially created for gaming and now adapted and developed for industrial applications. But there are also technologies originating from industry needs such as the Internet of Things where you build networks consisting of sensors, software and other technologies to exchange data and connect multiple machines and devices. The term IndTech is the collective name for technologies that are implemented to make the industry smart.
“By funding research, innovation and development, industry and its suppliers can together adapt and learn more so that new technology can strengthen Swedish industry,” says Peter Wallin, program manager for the strategic innovation program PiiA. “We see that PiiA has an important role to play in accelerating development. New technology enables smarter, safer and more climate-efficient solutions for industry. Sweden has a high degree of innovation and we generally quickly adopt new ways of working and solutions. We definitely have a chance to become a world leader in the climate-efficient process industry and we see great interest from other countries in learning more about our industries and how they apply new technology. We therefore work together with many actors to spread the “Swedish model”. Everyone benefits from the fact that the world’s industrial companies are becoming more climate efficient and moving more towards circular flows. ”
The Swedish process industry has gone through several major development curves and in the 1980s many automation systems were introduced. During the 1990s, major changes took place in computerization, and since a few years ago we have seen the next development with digitization. The older systems often have a long service life left and you do not want to scrap these. Instead, new technologies are used to measure, analyze and digitize the processes.
For more than a century, technology exports have been a cornerstone of the Swedish economy. Now that the industry is being digitized, large suppliers such as ABB (industrial technology), Ericsson (IoT) and SAAB (security) will be the basis of a Swedish market system with hundreds of small and medium-sized specialist companies. IndTech in Sweden has sales of more than SEK 100 billion (read the report Swedish IndTech 2020). If machine builders such as Alfa Laval, Atlas Copco, Epiroc, Volvo CE, Sandvik and the technology consulting companies are included, the figure is several times larger. In other words, the Swedish industry for digitalisation of industry, Swedish IndTech, compares with the basic industry but with a significantly higher growth rate. Swedish IndTech is also an industry that, through development collaboration, gives Swedish industry advantages and time advantages while technology suppliers can develop offers for the world market. The global market for IndTech is estimated to be worth approximately USD 405 billion by 2020 and grow by 7 percent per year.