Leveraging predictive maintenance

 

A report published by Market Research Future in September 2019 predicted that the global preventive maintenance market would expand at a growth rate in excess of 25% to reach more than $23 billion by 2025.

In our new ebook "The 7 habits of highly effective asset management" we share a number of ways in which you can leverage predictive maintenance.  

The merits of predictive rather than reactive maintenance have been recognised for some time. A 2010 report on operations and maintenance best practices published by the US Department of Energy estimated that predictive maintenance could cut costs by 40%.

The report noted that a well-orchestrated predictive maintenance programme would all but eliminate catastrophic equipment failures. However, it suggested that such a system would require increased investment in equipment and staff training.

A 2018 PwC report notes that the latest iteration of predictive maintenance involves harnessing the power of artificial intelligence to create insights and detect patterns and anomalies that escape detection by the cognitive powers of even the most gifted humans.

While digital transformation is creating new ways to connect with partners, IDC observes that much of this innovation depends upon having IT service in new locations - at the edge. If organisations are unable to manage their edge endpoints in a scalable way, the costs of operating and security risks will erode or negate the value of these investments.

Managing edge effectively means the ability to overcome variability of endpoints, rely on remote management technologies, and scale operations at a new level. Investing in infrastructure that is open, standardised and scalable will increase the chances for success in maintaining good management processes while infusing these processes with AI will improve an organisation’s ability to continually expand and enhance its edge IT assets.

Would you like to learn more? Download our free ebook!

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