October 25, 2016- Founder and CEO of ADI Analytics, Uday Turaga, was invited to attend and talk at the VACON 3000 Launch Conference held at the Danfoss Research and Development Facility in Raleigh, North Carolina. The product launch included discussing the development of a new medium voltage drive from Danfoss, the VACON 3000. The conference discussed how this new product would benefit the market and various customers segments.
Uday Turaga presented on and left the audience with six key messages. One, the long-term resource demand looks positive, although slow economic growth will have an impact. Two, power is one of the bright spots in the economy due to growth. There are also changes happening including the way power is being deployed and used. Third, the oil and gas segment is struggling with oversupply and slow demand growth, although many people still have a misconception that oil demand has come down. Instead, supply has expanded quickly. Fourth, mining is in distress due to the Chinese economy and miners are not cutting down production. Fifth, chemicals capital spending continues but it is unlikely that we will see huge returns in the industry. Finally, the presentation discussed trends and industry needs that would be valuable for OEMs.
Based on ADI’s work with various operators, we anticipate a strong interest in innovation and technology to cut costs, strong demand in solutions that are fit to purpose, and a stronger desire for newer equipment for better maintenance, among others. To learn more about how ADI helps OEMs and industrials, contact us.
