Production downtime and maintenance costs are slashed by the effective use of predictive maintenance in factories. The automation trade fair SPS IPC Drives will also showcase innovative solutions as well as provide expert discussions to visitors interested in knowing more about the predictive maintenance concept.
Predictive Maintenance is one of the most essential segments in an Industry 4.0 set up. The specialised process ensures that the machines are up and working at all times. How does this happen? Predictive Maintenance makes use of measurement data from the machines that assist the process to verify the maintenance intervals of the specific machine or component. To understand this concept better, it is important to know that the stakes are very high in a smart factory which makes use of cutting-edge technologies and works dedicatedly to increase production with precision in a time bound period. Production is vital and there is no space for production downtimes as this can result in huge losses for the company.
Predictive maintenance becomes the saviour here as it can keep a track on the working conditions of all the machines in a factory and as the name suggests even predict if a particular machine is going to break down or require repairs. This helps the firm to take effective measures beforehand to ensure that production is not affected in any way or downtimes are reduced. Thus, maintenance costs are also reduced to a minimum. This may seem like a simple function but can reap huge benefits for the company.
According to a report by research specialist IoT Analytics, the global predictive maintenance market is expected to reach 11 million dollars by 2022. This market scenario will also bring about ample business opportunities for players in this field such as Bosch Software Innovations, Siemens, IBM, SAP, SKF, and many more. In addition to this, the rise of ‘Industry 4.0’ across the globe will also lead to many more business opportunities for players in the field.
If you are keen on exploring the ‘Predictive maintenance’ concept, SPS IPC Drives is the place to be in order to interact with industry experts and stay updated on the latest technologies and solutions in the industrial manufacturing sector.