IOT
US $ 200bn : The enterprise IoT market grew 21.5 % to $ 201 billion in 2022
He says : “ Imagine you have two identical assets . One ' s nicely tucked inside a factory and so is in a fairly constant environment , but the other asset is exposed to the elements on the seafront . Clearly , you ’ re going to have different performances from those two assets , and so you create prescriptive maintenance cycles that take environmental conditions into account .”
Having fine-tuned maintenance cycles - whether predictive or prescriptive - is important for preventing over-maintenance as much as undermaintenance , Hancock stresses . With sustainability now an issue of utmost importance for businesses , the green gains of predictive maintenance solutions are also very appealing .
“ If you ' re over-maintaining an asset , you ’ re wasting money and resources ,” Hancock concludes . “ Why do an overhaul every six months when it ’ s not necessary ? With predictive maintenance , you can use historical information via IoT sensor data and extend the maintenance cycle to seven or eight months , with no negative impact on the machinery .”
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