Evidence that predictive maintenance delivers significant business value is presented in a recent report by PWC. In a survey of 268 European companies, of those that have implemented predictive maintenance (11%) a surprising 95% reported improvements in maintenance value drivers. The most valued improvement was an 9% increase in equipment uptime. Other improvements included maintenance cost reduction (12%), reduction of safety, health, environment & quality risks (14%) and lifetime extension of aging asset (20%). The report also points out that many companies benefited in multiple ways.
Predictive maintenance is clearly one of the main benefits that can be achieved from industrial digitalisation. 60% of respondents to the PWC survey said that they have plans to implement predictive maintenance. Clearly the benefits of predictive maintenance are such that it is likely to see widespread adoption, with a competitive gap growing quickly between digitalisation laggards and more visionary organisations.