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Overview of Yokogawa Electric (YOKEY)
Yokogawa Electric is a multifaceted corporation with a long history in industrial automation and process control, and has recently augmented its portfolio by integrating advanced cybersecurity managed services. The company has evolved from its core expertise in measurement, control, and automation to also include comprehensive solutions addressing OT and IoT cybersecurity challenges faced by modern process industries.
Core Business Areas
Yokogawa offers a diverse range of products and services designed to ensure the efficient and secure operation of industrial systems. Its core business includes:
- Industrial Automation and Process Control: Yokogawa provides solutions that enable optimized and reliable control systems for diverse industries, including energy, manufacturing, transportation, and utilities.
- Measurement and Testing Solutions: The company delivers advanced instruments and methodologies for precise process monitoring and control, which are essential for operational excellence in critical infrastructure.
- Cybersecurity Managed Services: In response to rising digital threats, Yokogawa has expanded its service offerings to include managed cybersecurity services. These solutions integrate OT and IoT visibility, network monitoring, and threat detection, leveraging expert alliances to serve global customers.
Integration of Cybersecurity
Recognizing the increasing interplay between operational technology and the digital realm, Yokogawa has strategically focused on securing industrial networks. Its collaboration with industry experts in OT and IoT security enhances its managed service offerings. This initiative ensures that customers benefit from industry best practices in threat detection and risk mitigation, while maintaining robust operational continuity across diverse sectors.
Market Position and Competitive Landscape
Within the global market, Yokogawa is positioned as a reliable provider of automation and control systems, with a distinguished capability to integrate evolving cybersecurity needs within its traditional offerings. The company differentiates itself by combining robust engineering expertise with innovative solutions that address complex challenges in process industries. Although the competitive landscape is populated with several players in both automation and cybersecurity, Yokogawa stands apart by leveraging its long-standing industry experience and comprehensive service model.
Business Model and Revenue Generation
Yokogawa generates revenue through a blend of direct sales of advanced automation systems, integrated measurement devices, and subscriptions to its managed services. The company’s business model emphasizes delivering scalable solutions that are customized for the diverse operational needs of industries such as manufacturing, energy, and transportation. This integrated approach not only supports capital expenditures in legacy systems but also promotes operational resilience and efficiency through continuous service and support models.
Operational Excellence and Industry Expertise
The company is recognized for its methodical approach to design and implementation, ensuring that each solution is tailored to meet the stringent requirements of industrial processes. With a focus on quality, safety, and reliability, Yokogawa’s offerings are underpinned by extensive experience in process optimization and risk management. This deep reservoir of expertise is critical in addressing modern challenges, particularly in the realm of cybersecurity for industrial operations.
Significance in the Industry
Yokogawa's comprehensive suite of services plays a crucial role in ensuring uninterrupted and secure operations across various industries. By integrating traditional process automation with modern cybersecurity measures, the company not only meets the current needs of industry players but also supports the foundational aspects of operational reliability and safety. This balanced approach enhances its credibility and trustworthiness in the eyes of stakeholders seeking sustainable solutions in a rapidly changing technological landscape.
Conclusion
In summary, Yokogawa Electric exemplifies a convergence of traditional industrial automation excellence with innovative managed cybersecurity services, making it a pivotal player in its market segment. Its broad offering, spanning from precise measurement and control systems to advanced cybersecurity capabilities, underlines its commitment to quality, efficiency, and safe operations across the globe.
ENEOS Materials Corporation and Yokogawa Electric Corporation have announced the formal adoption of the Factorial Kernel Dynamic Policy Programming (FKDPP) AI algorithm at an ENEOS Materials chemical plant. This decision follows a successful year-long field test, marking a world-first implementation of reinforcement learning AI in direct plant control. The AI demonstrated superior performance in managing distillation operations, enhancing product quality, and reducing operational costs. Key benefits include a 40% reduction in CO2 emissions, year-round stability, and improved safety by lessening manual operator intervention.
Yokogawa Electric Corporation has launched OpreX™ Asset Health Insights (2.0), a cloud-based asset monitoring service, enhancing its capabilities with new features and support for Alibaba Cloud, marking a strategic partnership. The updated service collects and processes operational technology data, providing a comprehensive view for asset management. Key updates include 2D and 3D graphics for better visualization, ISA 18.2 compliant alarm management, and support for multiple languages including Chinese. The company aims to address the growing demand for robust asset monitoring across industries such as oil, gas, and chemicals.
Yokogawa Electric Corporation has been appointed by Shell Plc as the main automation contractor for the Holland Hydrogen I plant in Rotterdam. This facility, set to be the largest renewable hydrogen plant in Europe by 2025, will utilize electricity from an offshore wind farm to produce up to 60,000 kg of green hydrogen daily via a 200 MW electrolyser. The hydrogen will replace grey hydrogen at Shell's Energy and Chemicals Park, aiding in the decarbonization of fuel production. Yokogawa aims to integrate systems effectively to support sustainability and decarbonization efforts.
Yokogawa Electric Corporation has completed a successful proof of concept test at the Tapia Water Reclamation Facility in California. This initiative, part of the Pure Water Project, aimed to enhance wastewater treatment efficiency while reducing energy consumption. The project utilized Yokogawa's advanced data-driven modeling software, achieving over a 10% reduction in power consumption and compliance with water quality standards. For its innovative efforts, Yokogawa received the Transformational Innovation award from the WateReuse Association.
Yokogawa Electric and JSR Corporation have successfully completed a world-first 35-day field test using AI to autonomously operate a chemical plant. The test demonstrated the application of reinforcement learning AI in controlling complex processes, achieving high product quality and yield while conserving energy. This innovation is part of Japan's Ministry of Economy, Trade and Industry's advanced safety initiative and could significantly enhance productivity and safety in chemical production. Both companies aim to expand AI's role in plant operations to improve efficiency and safety.
Yokogawa Electric Corporation has been chosen by ExxonMobil to serve as the system integrator for the inaugural field trial of an Open Process Automation (OPA) system at an ExxonMobil facility on the U.S. Gulf Coast. This trial aims to replace existing control systems with an integrated one that complies with the Open Process Automation Standard (O-PAS™). The project is expected to reduce capital costs and total cost of ownership through better integration of automation components. The trial, which involves over 2000 I/O, is set to commence in 2023.
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