GE Predix Software platform offers 20% potential increase in performance across customer base
ISLAMABAD: With its total portfolio of software and solutions set to deliver more than $5 billion in revenue this year with $6 billion in orders, General Electric (GE) today announced new products and partnerships. By 2020, it expects more than $15 billion in software and solutions, driven by Predix scale and internal productivity. GE is tapping a $225B market opportunity where GE Digital drives more than 25 percent year-over-year revenue growth with Predix-based operations and asset performance management (APM) capabilities.
New innovations announced today included the Launch of Predix.io, a dedicated cloud environment for app developers that will grow GE’s Industrial Internet platform and create the world’s largest app marketplace for industry; Launch of Brilliant Factory that will offer GE’s proven digital manufacturing capabilities to other companies like P&G that could see 10-20% reduction in unplanned downtime that GE has experienced internally; Launch of the Digital Power Plant to deliver ~$230MM of net present value per combined cycle gas turbine plant savings throughout the 20-year life; Predix adoption on track for 20,000 developers in the next year; Predix Accelerator program expands ecosystem; new or expanded partnerships with Accenture, Boeing, Cisco, Genpact, Infosys, Intel and PTC continue to grow Industrial Internet; GE security innovation for customers across the product lifecycle; will embed Wurldtech’s cyber security firewall into 4,000 gas, steam, wind and aero derivative turbines for protecting critical infrastructure; Creation of Energy Services Company opens up new pathways of growth and innovation for GE.
By pairing digital technology with its domain expertise across industries like aviation, energy, healthcare and transportation, GE is transforming itself into the world’s leading digital industrial company, and new data has revealed a potential 20 percent increase in performance for its customers. With the release of new software and products powered by Predix, GE is transferring its industrial domain and technology leadership to customers and paving the way for an industrial app economy worth more than $225 billion.
“Industrial companies need to become digital to survive,” said Jeff Immelt, Chairman and CEO of GE. “While the Internet has transformed consumer worth, industry has not yet seen its fair share.
GE unveiled its dedicated environment for industrial developers, Predix.io, which will lay the foundation for the world’s first and largest marketplace for industrial applications. GE is expanding its cyber security footprint by announcing plans to embed Wurldtech’s cyber security solution into 4,000 gas, steam, wind and aero derivative turbines.
GE also unveiled plans to create an entirely new type of Energy Company that combines financing with GE’s physical and digital capabilities across energy efficiency, generation and storage. The new organization will meet the unique needs of a wide range of Commercial & Industrial, utility, and municipal customers – hospitals, universities, retail stores, cities – and provide them with the hardware and software they need to be more reliable, more efficient and more profitable. This business will begin with more than $1 billion of revenue and $500 million of financing, putting it on track to quickly establish a leadership position in the fast-growth energy efficiency market.