The Internet of Things is having a profound effect on the manufacturing sector, leading to increased automation, more efficient operations, and the creation of valuable new business models.
And Predictive Maintenance is one of the areas of application with significant impact on the transformation of the industrial sector.
The use of sensors and data analysis means that companies can detect patterns in the condition and performance of equipment and accurately predict when a failure might occur. This forecasting eliminates unplanned downtime and provides significant productivity benefits.
The size of the prize for predictive maintenance within manufacturing is immense.
Even in the future, some types of machines will be able to perform self-maintenance, eliminating the need for human intervention.
The benefits of predictive maintenance are many, such as reducing factory equipment costs as it could reduce unplanned downtime, anticipate potential failures, and prevent breakdowns. By reducing maintenance costs and improving asset utilization, you also have the opportunity to reduce capital investment by extending the useful life of existing industrial assets.
It's no wonder manufacturers are embracing IIoT enabled predictive maintenance as a means of transforming their businesses.