Digitalization and Sensor Technology in an Industrial Context

Master's thesis in Offshore Technology: Industrial Asset ManagementThe outlook for industry majors and minors are continuously changing, introduction of new technologies in the industry is shifting how product development, manufacturing, construction and collaboration is managed. The industry framework is innovating and the organizations within are starting to adapt new strategies for utilizing different technologies. Digitalization is multifaceted and can be utilized in many industry settings during the life cycle of an asset. The current trend is that the competitive advantage of successful adapters is outperforming lagging organizations, it is time to innovate. Øglænd System is an global industry partner and provider of products and services for several industry areas, a long tradition with supplying the upstream O&G projects in Norway, and in recent years a global approach on delivering systems for the offshore industry worldwide has led to focusing this thesis on utilizing possibilities that lies in adapting to the developing industrial O&G digitalization process. This thesis is investigating the technologies that is transforming traditional industrial collaboration and competition with focus on sensor technology IIoT and smart products, these are often talked of as revolutionary technology that is going to transform the industry. This thesis investigates how Øglænd System as an industry supplier can incorporate sensors on their product range Mekano and adapt to target O&G industrial digitalization objectives. In addition to incorporate sensors for delivering a new function, a finding was that this sensor network and the industrial eco system can be utilized for further product and service development with a smart connected product strategy. Using this strategy opens up for a new business model and creates a bonding between the use case and the development of products, but requires effort in creating new organizational functions that support this. The technical considerations are reviewed trough a digitalization architecture created for the industry 4.0 as a stepwise description of the findings and reviews in this thesis to develop this strategy into value