ABB Ltd: Bridging The Past And Future Through Innovation
History
ABB Ltd, originally known as ASEA Brown Boveri, is a multinational corporation that has roots tracing back to the late 19th century, with the merger of ASEA of Sweden and Brown, Boveri & Cie of Switzerland in 1988. This strategic union was aimed at creating a global powerhouse in the field of electrical engineering.
Core Business
At its heart, ABB operates in the realms of robotics, power, heavy electrical equipment, and automation technology areas. The company is well-respected for its innovations in electrification products, robotics and motion, industrial automation, and power grids, which aim at enhancing industrial productivity and reducing environmental impact.
Side Business
Beyond its core operations, ABB explores and invests in emerging sectors. This includes e-mobility, where it is making significant strides in electric vehicle charging solutions, and digital industries, where it leverages AI and IoT to offer smarter and more efficient solutions for industries.
Current Market Status
As of the last update in 2023, ABB continues to stand strong in the global market. Its strategic decisions to divest from certain segments, focus on core businesses, and innovate within emerging technological fields have kept it competitive. With operations in over 100 countries, ABB's reach and influence in shaping the future of energy and automation are undeniable.