Elevating Predictive Maintenance: The Transformative Impact of IIoT

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Elevating Predictive Maintenance: The Transformative Impact of IIoT

In the bustling arena of the industrial landscape, the repercussions of unplanned downtime resonate deeply. According to a study by Aberdeen Research, unplanned downtime can cost a company as much as $260,000 an hour. Such challenges have been a persistent thorn in the side of industries, often leading to production halts, missed delivery timelines, and significant revenue losses. In response, Predictive Maintenance (PdM) has emerged as a beacon of hope. However, while PdM has been a step in the right direction, traditional methods still grapple with limitations, often failing to provide real-time insights or adapt to rapidly changing industrial conditions. This is where the Industrial Internet of Things (IIoT) enters the fray.

What is Predictive Maintenance?

Predictive maintenance is the art and science of predicting equipment failures before they occur. It involves analysing an asset to forecast its potential breakdown, scheduling preventative maintenance, and identifying risks to circumvent them. This stands in contrast to reactive maintenance, which addresses machinery only after it malfunctions. However, predictive maintenance is not a new concept. Manufacturing firms have been using scientific methods to forecast when equipment will fail since the emergence of complex machinery and this has led to a ceiling effect where the amount of data organisations are collecting is exceeding capabilities of traditional PdM practices.

Harnessing the Power of IIoT: A Deep Dive into Industrial Interconnectivity

The Industrial Internet of Things (IIoT) stands as a formidable pillar in the expansive realm of the Internet of Things (IoT). According to a report by Accenture, the IIoT could add a staggering $14.2 trillion to the global economy by 2030. This growth is fueled by its unique offerings: a rich array of sensor packages, cutting-edge remote diagnostic tools, and state-of-the-art analytics software. These tools not only enhance the precision of predictive maintenance but also drastically reduce response times.

Historically, predictive maintenance depended on specific sensing instruments or hands-on data gathering from devices to guide its predictive analytics. Yet, with the advent of IIoT, each apparatus can be outfitted with built-in sensors that perpetually track and convey its operational state. This facilitates instantaneous data gathering, evaluation, and modelling, offering a deeper understanding of machinery efficiency.

The advantages of such IIoT-fueled predictive maintenance in the manufacturing setting are undeniable and crucial for any forward-thinking industrial entity.

A comprehensive survey by PwC revealed that of those experimenting with PdM 4.0—which encompasses the integration of contemporary technologies like IIoT into predictive maintenance—a whopping 95% have witnessed positive outcomes from transitioning to these advanced predictive maintenance methodologies. So what are some of the benefits organisations can expect to receive?

1. Reduced Costs

A study by PwC highlighted that organisations witnessed a 12% reduction in costs due to IoT-based predictive maintenance. Predictive maintenance, by its very nature, reduces the time and effort spent on repairs, translating to significant savings. There are a number of ways incorporating IIoT technologies into predictive maintenance efforts can help organisations reduce costs:

Predictive maintenance, underpinned by IIoT, shifts the paradigm from reactive to proactive. Instead of waiting for equipment to fail and then addressing the issue, businesses can foresee potential malfunctions and intervene before they escalate. According to a report by Deloitte, unplanned downtimes can cost industrial manufacturers an estimated $50 billion annually, with equipment failures causing 42% of these unplanned outages.

By leveraging IIoT, businesses are no longer in a position of merely reacting post-failure. Instead, they can anticipate potential equipment malfunctions using real-time data analytics and intervene well in advance. Such foresight, as highlighted by a study from the World Economic Forum, can reduce maintenance costs by up to 30%, extend machinery life by years, and decrease downtime by up to 50%.

Efficiently maintained equipment often consumes less power. By ensuring that machinery operates at its peak efficiency, businesses can also realise significant savings in energy costs. A study by the U.S. Department of Energy found that proactive maintenance can lead to energy savings of between 5% to 20% in industrial facilities. In essence, the integration of IIoT in predictive maintenance doesn’t just lead to direct cost savings from reduced repairs, it creates a ripple effect, optimising various facets of operations, and paving the way for a more streamlined, cost-effective business model.

2. Increased Productivity

The correlation between minimised downtime and heightened productivity is undeniable. According to a report by McKinsey & Company, unplanned machinery stoppages can result in a productivity loss of up to 20%. However, the integration of IIoT technologies in predictive maintenance offers a promising solution. For instance, smart sensors, a cornerstone of IIoT, can continuously monitor equipment health, detecting anomalies like temperature fluctuations, unusual vibrations, or changes in rotational speed. These sensors can then relay this information in real-time to centralised systems, enabling timely interventions.

Moreover, advanced IIoT platforms can integrate with machine learning algorithms to predict potential failures based on historical data. For example, vibration sensors can detect irregular patterns in rotating equipment, and using past data, the system can predict the likelihood of a breakdown, allowing for preemptive maintenance.

Predictive analytics, powered by IIoT, also play a pivotal role in ensuring uninterrupted operations. By analysing data from various sensors, businesses can forecast when a machine is likely to need maintenance and can then schedule it during off-peak hours or when alternative machinery is available. This adaptive approach ensures that production lines remain active, even if certain equipment is momentarily offline. Emerson’s Plantweb digital ecosystem, an IIoT solution, has been shown to increase machinery availability by up to 2%, which, when scaled across an entire facility, can lead to a significant boost in overall productivity.

In essence, the fusion of IIoT technologies with predictive maintenance doesn’t just aim to reduce downtimes. It strategically optimises operations, ensuring that industries operate at their peak efficiency. As a testament to this, a study by ARC Advisory Group highlighted that the implementation of IIoT-driven predictive maintenance strategies can enhance machine uptime by up to 9%, a figure that can translate to substantial gains in output and profitability for businesses.

3. Extended Machine Lifespan

According to research by the World Economic Forum, the early detection and rectification of potential issues, facilitated by IIoT, can extend machinery lifespan significantly. In fact, IoT-empowered predictive maintenance strategies have been shown to enhance the operational life of assets by as much as 20%.

At the heart of this extension is the ability of IIoT sensors to continuously monitor machinery, capturing a myriad of data points, from temperature and pressure to vibration and humidity. For instance, ultrasonic sensors can detect minute leaks in pressurised systems long before they escalate into major issues, while thermal imaging can identify overheating components, allowing for timely interventions.

By identifying and addressing these minor issues early on, catastrophic failures – which often result in irreversible damage to machinery components – can be averted. Moreover, continuous monitoring ensures that even the most subtle, gradual wear and tear, which might traditionally go unnoticed until it causes a major malfunction, is promptly addressed.

Furthermore, with the advent of advanced analytics and machine learning, IIoT systems can not only detect current issues but can also predict future wear patterns, enabling preemptive replacements or adjustments. This proactive approach not only prevents abrupt halts in production but also reduces the strain on machinery, ensuring it operates within optimal parameters for a more extended period.

To Summarise

In the ever-evolving industrial ecosystem, the significance of IIoT in predictive maintenance is becoming increasingly paramount. The astronomical costs associated with unplanned downtimes, as highlighted by Aberdeen Research, underscore the urgency for a more proactive approach. Predictive maintenance, when augmented by IIoT, offers precisely that. By harnessing the power of real-time data analytics, businesses can transition from merely reacting to equipment failures to anticipating and mitigating them.

However, beyond these immediate benefits, there’s a broader implication. The integration of IIoT in predictive maintenance heralds a new era of industrial operations—one where efficiency, sustainability, and profitability coalesce. It’s not just about averting machinery failures; it’s about reimagining the entire operational paradigm. For businesses aiming to stay competitive in today’s fast-paced industrial landscape, adopting an IIoT-infused predictive maintenance strategy is a serious consideration. As industries continue to evolve, the fusion of predictive maintenance and IIoT will undoubtedly stand as a cornerstone of industrial innovation, driving growth, enhancing sustainability, and shaping the future of manufacturing. More about 7 Business Reasons to Develop a Predictive Maintenance Program

About the author

This article was written and researched by Charlie Green, Senior Research Analyst at Comparesoft.