Many of the presentations at the past few NFPA events, including the NFPA Annual Conference, Industry & Economic Outlook Conference, and Regional meetings, have focused on the Internet of Things and how it relates to the future of fluid power. Planning and building around fast-moving, shifting, and often unclear IoT trends can be tough without the right information, so NFPA will continue work to bring more helpful resources for members to use moving forward at their companies.
Coming soon, we’ve signed on with IHS Markit to provide NFPA members a report that assesses the IoT readiness, capabilities, and emerging requirements based on key industrial markets for fluid power, such as automotive and power generation. The report is based on a survey that looks at six key areas of IoT readiness:
- Data handling and processing – how well companies are collecting, storing and analyzing data
- Networking – to what extent do companies have suitable infrastructure for collection and storage of data
- Software integration
- Skill sets and collaboration – to what extent are workers getting the tools and developing skill sets to handle the data
- Governance – to what extent do IoT capabilities appear ready to support new business models.
The report will be available to all members, and at the same time, IHS Markit analysts will present key conclusions and additional insights at the 2019 NFPA Industry & Economic Outlook Conference this August in Chicago.
Mark Your Calendar: Join Us on November 15 for an Economic Update with ITR Economics – Register Today!
Registration is now open for the November 15th Economic Update Event featuring Patrick Luce of ITR Economics. The event will take place virtually. In addition to macroeconomic trends and updates, Patrick will speak on important end use markets for fluid power and updated hydraulic and pneumatic forecasts. Check out the latest fluid power forecast report…
Quarterly country and industry forecast reports from Oxford Economics have been updated on NFPA’s member hub. Insights include impacts of the UAW strike on the motor vehicle industry and updates on China’s industrial production. Oxford Economics produces quarterly forecast reports for over 60 countries and 10+ industries. These reports highlight forecast drivers and constraints with…
This episode features Greg Shtrahman of Marzocchi Pumps USA. Listen to the Podcast Here Greg is a Business Development Manager at Marzocchi Pumps, a company that designs, manufactures, and sells external gear pumps and motors for high performance applications. We spoke with Marzocchi’s president in a previous episode about their low-noise gear pumps for automotive…