Right after Superbowl Sunday, our team got to experience another highly anticipated event– AHR Expo. Lucky for us, the biggest HVAC tradeshow in the USA was hosted in our hometown of Orlando, FL., allowing our data services and sales teams to be present. Over the course of three days, we explored the massive exhibit hall, networked with various industry leaders, presented on Digital Thread, and so much more.
Advancements in Product Technology
One of the first things that you would notice when entering the sales floor is that the HVACR Industry has had various technological advancements in the last decade. As home automation takes the forefront of consumer needs, smart thermostats are being paired with smart heating and cooling systems to increase cost-effectiveness and operate at peak performance levels. Water heaters are also seeing an automation-focused shift in design, with smart hybrid units leading the efficiency ratings.
Our staff noticed an increased and intentional focus on building automation and sustainability throughout the showroom. To meet or exceed industry standards and meet these consumer demands, companies need to ensure their data is structured and in compliance.
Industry Growth
The HVACR market continues to grow exponentially. The ACCA predicts that the industry will "explode" with growth over the next decade, reaching a value of $35.8 billion by 2030. One of the drivers of this growth is the increase in consumer demand for energy efficiency and a boom in new construction. It is invaluable for HVAC companies to learn market insights to stay competitive and hold great market shares. With the southern United States holding the greatest market share in the Industry, there is no question that AHR Expo was held in the perfect location this year.
Digital Thread for Integrated Parts & Product Data
One of the biggest highlights of this event was our presentation on The Future of HVAC: Digital Thread for Integrated Parts & Product Data on Tuesday afternoon. Convergence Data President, Richard Turner, presented the importance of having structured data across all channels and the processes that we take to enrich and optimize your data. It's clear to see that if manufacturers want to keep up with competition and continue to increase revenues, they need to focus on digitization and embracing the digital thread.
Overview
The HVAC digital thread is the flow of data that connects all stages of a product's lifecycle, from design and engineering to production, maintenance, and disposal options. This data flow links different channels and systems to provide a comprehensive digital representation of the product and enable real-time decision-making throughout the manufacturing process. Without a scalable PIM built to handle constantly changing regulatory guidelines, companies will fall behind as the industry continues to move forward.
Looking to learn more about how our team of over 200 data experts can help you to transform your data and your business operations? Contact us today! 📝