Industrial IoT holds the key to better industrial asset and equipment performance
For some time now, the servicing and maintenance of production and manufacturing equipment has been a top priority for many industries and enterprises, particularly high-tech and heavy industries. Operations directors have been under continuous pressure to minimise scheduled and unscheduled downtimes and to maximise the benefits derived from high-value capital expenditure. Through the possibilities offered by the Internet of Things and its ecosystem of connected sensors, Industrial IoT delivers substantially enhanced capabilities for condition-based monitoring and predictive maintenance. Within the area of Product Lifecycle Management (PLM), Industrial IoT has had an even greater impact on the capabilities offered by service providers.
This Research Note explores advances in condition-based monitoring and traces the significant developments that have transformed and improved traditional PLM, an evolution that is already showing promising results in the area of equipment servicing and maintenance.
Keywords: M2M, machine-to-machine, IoT, Internet of Things, Industrial IoT, predictive maintenance (PdM), Product Lifecycle Maintenance (PLM), downtime, machine utilisation, condition-based monitoring
Companies covered in this report: National Instruments, Monition, SKF, Brüel & Kjær Vibro, Toyota, Honeywell, ThyssenKrupp, PTC
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