IIOT-OXYS, Inc. announces a new contract with a northeast CNC machined component manufacturer for a Smart Manufacturing Proof Of Concept (POC). This Small-to-Medium Sized Enterprise (SME) is an approved Supply Chain vendor to several Medical Device Original Equipment Manufacturers (OEMs).
Cliff Emmons, CEO of Oxys, stated, «We are thrilled to provide this Smart Manufacturing POC for this new customer. The goal of the POC will be to reduce downtime and increase productivity for critical machined components through IIoT data collection and predictive analytics using our proprietary AI & Machine Learning algorithms. The algorithms will also enable Predictive Maintenance and Tool Optimization which will drive downtime reductions and increase productivity. Our strategic partner, Aingura IIoT, S.L., will work closely with us on the project, providing equipment, software, and supplemental expertise. This news also delivers on our promise of a new POC before the end of our 2022 fourth quarter.»
«This POC will commence in January 2023 and is expected to conclude by early second quarter. We fully expect the POC to show significant value that will result in a Software-as-a-Service (SaaS) contract contributing to 2023 revenue, and continuing into 2024,» continued Mr. Emmons. The worldwide Industry 4.0 (also known as Smart Manufacturing) market was estimated at $64.9 billion in 2021 and is expected to grow at 20.6% CAGR to $165.5 billion by 2026.
This milestone is the result of several steps the Company has taken to accelerate their growth in their Smart Manufacturing business vertical, including bringing on a new Smart Manufacturing Technical Sales Advisor and partnering with IIoT World, a leading digital media outlet focused on Industrial Internet of Things (IIoT) topics, to generate global awareness, demand generation and content co-creation.
«Our recent panel discussion at the IIoT World Manufacturing & Supply Chain Days has provided significant lead generation. Over 1,400 registrants «opted-in» to connect with Oxys (an event sponsor). Over 200 participants viewed our live panel discussion on December 7th. We are currently executing focused marketing and sales efforts to connect with these participants and registrants and promote Oxys Smart Manufacturing capabilities and services. We fully expect this new POC and our marketing efforts will lead to new business in 2023 and beyond», concluded Mr. Emmons.
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