Posted by IoT.Business.NewsDate: January 18, 2021 in: IoT Insights
Embracing digital-only doesn’t rule anymore. At the doorstep of Industry 4.0, enterprises want to look beyond just digitization of processes since that’s mostly covered in Industry 3.0. Today, instant alerts about system failure should be generated in advance and that’s exactly what predictive maintenance is all about.
As per Market Research Future, the global market for predictive solutions is growing enormously to USD 6.3 Billion by 2022. Henceforth, not only will the use of automation go up but a predictive basis like AI will garner greater adoption. What’s interesting is that these solutions work in sync with IoT and collaboratively cleanse data silos, cleanse redundancy and deliver appropriate data inputs.
However, predictive maintenance is new and emerging. Enterprises are still entangled between the compatibility of legacy systems and new technologies. The confusion doesn’t end here. How does the predictive maintenance (PM) system boost the Operation & Management (O & M) proficiency? What budget should be allotted? What solution to go for – Cloud or on-premise? Should you build or buy an off the shelf solution?
If the above bottlenecks sound familiar, the following tips will simplify your thought process.
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