Summary
The Internet of Things (IoT) is foreseen to enable similar changes as the Internet revolution, making the physical world as
economically liquid, personalized and efficient as the digital one. The Industrial Internet of Things (IIoT) – IoT in industrial
applications – is arguably the biggest driver of productivity and growth in the next decade, forecasted to add up to US$14.2
trillion to the global economy by 2030.
Bosolog Aps has developed a smart solution that targets existing, unmet needs in the IIoT booming market – an innovative
system for real time monitoring of business critical and/or valuable equipment from the manufacturer to the end-user, both
during storage transportation, and at the user site. Our innovative concept encompasses elements such as: fully automated
business logics, accurate mapping; real-time monitoring of several parameters and personal alerting by exceptions;
proactive maintenance; and support to tactical and operational decision-making.
Despite the successful initial demonstration (that led to TRL6), several risks and technology barriers remain concerning the
reliability and scalability of the solution. Particularly, there is a great need for demonstration in operational environments to
open up new markets. Bosolog firmly believes that a two-phase approach under EU-funding is the ideal scenario, in order to
initially assess the market for concept feasibility before initiating the innovation project.
Bosolog estimates (for a specific customer using our technology) up to €1 million in annual cost savings, through an increase
in equipment productivity, workforce efficiency, and equipment lifetime; as well as by reducing equipment defects, downtime,
inventory costs, and unplanned outages.
Moreover, the successful implementation of Bosolog will also significantly contribute to the company growth – based on the
estimated market potential, we expect a total aggregated turnover exceeding €41 million, 5 years after market introduction
economically liquid, personalized and efficient as the digital one. The Industrial Internet of Things (IIoT) – IoT in industrial
applications – is arguably the biggest driver of productivity and growth in the next decade, forecasted to add up to US$14.2
trillion to the global economy by 2030.
Bosolog Aps has developed a smart solution that targets existing, unmet needs in the IIoT booming market – an innovative
system for real time monitoring of business critical and/or valuable equipment from the manufacturer to the end-user, both
during storage transportation, and at the user site. Our innovative concept encompasses elements such as: fully automated
business logics, accurate mapping; real-time monitoring of several parameters and personal alerting by exceptions;
proactive maintenance; and support to tactical and operational decision-making.
Despite the successful initial demonstration (that led to TRL6), several risks and technology barriers remain concerning the
reliability and scalability of the solution. Particularly, there is a great need for demonstration in operational environments to
open up new markets. Bosolog firmly believes that a two-phase approach under EU-funding is the ideal scenario, in order to
initially assess the market for concept feasibility before initiating the innovation project.
Bosolog estimates (for a specific customer using our technology) up to €1 million in annual cost savings, through an increase
in equipment productivity, workforce efficiency, and equipment lifetime; as well as by reducing equipment defects, downtime,
inventory costs, and unplanned outages.
Moreover, the successful implementation of Bosolog will also significantly contribute to the company growth – based on the
estimated market potential, we expect a total aggregated turnover exceeding €41 million, 5 years after market introduction
Unfold all
/
Fold all
More information & hyperlinks
| Web resources: | https://cordis.europa.eu/project/id/697953 |
| Start date: | 01-09-2015 |
| End date: | 31-01-2016 |
| Total budget - Public funding: | 71 429,00 Euro - 50 000,00 Euro |
Cordis data
Original description
The Internet of Things (IoT) is foreseen to enable similar changes as the Internet revolution, making the physical world aseconomically liquid, personalized and efficient as the digital one. The Industrial Internet of Things (IIoT) – IoT in industrial
applications – is arguably the biggest driver of productivity and growth in the next decade, forecasted to add up to US$14.2
trillion to the global economy by 2030.
Bosolog Aps has developed a smart solution that targets existing, unmet needs in the IIoT booming market – an innovative
system for real time monitoring of business critical and/or valuable equipment from the manufacturer to the end-user, both
during storage transportation, and at the user site. Our innovative concept encompasses elements such as: fully automated
business logics, accurate mapping; real-time monitoring of several parameters and personal alerting by exceptions;
proactive maintenance; and support to tactical and operational decision-making.
Despite the successful initial demonstration (that led to TRL6), several risks and technology barriers remain concerning the
reliability and scalability of the solution. Particularly, there is a great need for demonstration in operational environments to
open up new markets. Bosolog firmly believes that a two-phase approach under EU-funding is the ideal scenario, in order to
initially assess the market for concept feasibility before initiating the innovation project.
Bosolog estimates (for a specific customer using our technology) up to €1 million in annual cost savings, through an increase
in equipment productivity, workforce efficiency, and equipment lifetime; as well as by reducing equipment defects, downtime,
inventory costs, and unplanned outages.
Moreover, the successful implementation of Bosolog will also significantly contribute to the company growth – based on the
estimated market potential, we expect a total aggregated turnover exceeding €41 million, 5 years after market introduction
Status
CLOSEDCall topic
ICT-37-2015-1Update Date
27-10-2022
Images
No images available.
Geographical location(s)
Structured mapping
Unfold all
/
Fold all
H2020-EU.2.1.1. INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)
