Russia’s biggest digital solutions vendor ZYFRA has reached $30 million in revenue in its first year of operation, facilitating industrial manufacturers in-house and abroad with AI and IoT-based solutions, as well as autonomous vehicles. The company has announced plans to enter Vietnam as early as 2019.
In the next three years, it is estimated that Vietnam will overtake China in terms of GDP growth. It is planned that this number will be 6.8 per cent in 2019. According to the government’s development programme, by 2035 most of the fabrication will be turned into digital manufacturing. Particularly significant growth is expected in the areas of industry, construction, and services.
The company, founded in November 2017, currently operates in Finland, China, Russia, Bulgaria, and India, and its platform connects over 7,000 CNC machines across the countries. By the end of 2018 more than 200 production facilities will be equipped with its products.
|ZYFRA will arrive to Vietnam in 2019.
“Smart manufacturing (the term refers to IoT and AI) is projected to grow noticeably in the next three to five years. Recent surveys showed 92 per cent of senior manufacturing executives believe that "smart factory" digital technologies such as artificial intelligence will allow them to improve their productivity and empower their staff to work more intelligently. Some even account for the smart manufacturing market to increase to over $320 billion by 2020,” said Igor Bogachev, CEO of ZYFRA Group.
By now the company offers the global market its real-time machine data collection system MDCplus that can be used to track jobs, operations, work centres, scrap, costs, downtime, and people. It also provides its clients with Industrial AI-solutions that can either predict quality and product properties or recommend process settings and material usage. The company is applying cutting edge data science combined with industrial expertise to provide end-to-end solutions to optimise production speed, quality, and costs for industries such as machinery, metallurgy, oil and gas, and mining.
Back at home, ZYFRA’s clients are giants like Gazprom, Chelpipe, NLMK Group, and United Engine Corporation.
Recently, the company started its acquisition of VIST Group, one of the industry leaders in the development and implementation of information technology for digital mining. Through the acquisition (expected to be finished by 2020) of these assets, the company is planning to occupy a significant share of the global market and to compete with Catarpillar, Komatsu, and other major competitors in certain aspects.
“Our view is that there is a tremendous opportunity for disruption in Industrial IoT and applied AI space, although it is still a nascent market to a larger extent,” said Ilia Kreisel, Investment and IR director at ZYFRA Group.
“If you look at Gartner’s latest Magic Quadrant for IIoT Platforms, you can quickly arrive at the conclusion that the market still lacks a clear leader, which leaves the doors wide open for the up and coming challengers like ourselves,” said Igor Bogachev.