The origins of predictive maintenance, it was the holy grail of manufacturing in the late 1970’s was a process that optimizes the use of manufacturing components and processes to minimize the impact of process failures. In this theory, all components and processes should be so well known, that prior to the operation experiencing downtime, the system would “know” to raise a flag and halt the operation.
This allows for a just-in-time pre-repair, thereby optimizing the use of all components. This was known as predictive maintenance (PdM), and decades ago it was the future of manufacturing promoted by such heavyweights as Rockwell Automation, ABB, and Siemens.
Fast forward to today, and there’s a lot to like about the PdM business. The development of the Industrial Internet of Things (IIoT), digital twins, artificial intelligence (AI), and to some degree, robotics, have all helped expand PdM into new sectors.
No longer exclusive to industrial automation and controls, PdM programs have expanded into heavy equipment, aerospace, and energy and utilities. Over the past 30 or so years, PdM has steadily advanced, with the introduction of numerous technology tools. PdM has matured to reduce and even eliminate downtime reliably and is now one of the fastest-rising areas across these industries.
All of these technologies have been improving incrementally to support the growth from the low hundreds of millions of dollars in the 1990’s to an estimated $60 billion market today.
The steady march forward of predictive maintenance has proven that PdM is more than a theory. Already, between 45% and 85% of manufacturers have either invested in or plan to invest in the key technologies that enable PdM: IIoT, AI, and digital twins.
What has been the result of all this investment and development? The numbers speak for themselves:
What does this combination of technologies really do?
The ROI and demand for uptime drive all of these elements. PdM results in a 30–50% reduction in downtime, which translates to saving big money when you consider that the average downtime cost for a manufacturing facility can reach $250,000 per hour.
Let’s close up our thoughts on predictive maintenance. From the early days when Rockwell Automation would give away sensors in exchange for access to data, the concepts behind PdM have finally matured. Today, predictive maintenance has fulfilled the promise made more than 30 years ago, delivering measurable improvements in efficiency, reliability, and cost savings across various industries.
Inquire About Our Services