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BREAKING THE TRADEOFF WITH PREDICTIVE MAINTENANCE

September 28 2021

The ability to process real-time data analytics for condition monitoring of equipment or assets & anticipating or eliminating the probability of the asset breakdown is termed as Predictive Maintenance.

By 2023, the global projections state that close to 83% of the manufacturing units will be incorporating predictive maintenance for shop floor activities. Additionally, predictive maintenance is one of the value propositions of Industrial IoT technology which is catalyzing industrial automation across geographies.


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UNLEASHING THE POWER OF PREDICTIVE MAINTAINANCE

Most of the big players in the industrial B2B market have admitted that predictive maintenance has boosted the overall equipment efficiency and skill set of technicians. Predictive Maintenance in the Industrial IoT applications can leverage the data from meter readings, sensors, voltage readings, alerts & alarms triggered in case of operational errors, and much more.

Real-time monitoring of this data over certain period helps in mapping the normal behavior of the machines. This makes the system capable of detecting in unusual data or events, thereby making preemptive recommendations which helps in preventing or eliminating the probability of unexpected machine breakdown & significant improvement in the uptime.

Various reports published by PWC & CXP Group suggest that predictive maintenance in industries can:

1. Increase the life of an aging asset by 20%
2. Reduce operational costs by 12%
3. Reduce unexpected downtime by 91%
4. Reduce environment, safety, health & quality risk by 14%


With Predictive maintenance, there is a big opportunity for industries to save money on conditional monitoring of equipment & unexpected downtime while extending the life of their assets. Thus, Predictive maintenance offers optimal way to diagnose and preempt failures that need real maintenance in real time and deliver bottom-line results.

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