Posted under Blog by The VIZIYA IIoT Team
May 6, 2019
A primary factor driving growth in the global asset management market is the emergence of, and the paradigm shift towards, the Internet of Things (IoT).
This shift has significant implications for the asset maintenance space in terms of how IIoT (Industrialized Internet of Things) can be leveraged to achieve goals.
Gartner predicts that by 2020 we will have 26 billion IoT units installed across all industries.1
In recent years, the maintenance industry has witnessed a rise in IIoT related technology, software, and services. IIoT solutions are empowering maintenance organizations to collect and act upon information more quickly and with better accuracy.
It is advancing maintenance organizations’ capability to improve their decision making and take maintenance services to an entirely new level.
According to IBM, IoT is “the concept of connecting any device (so long as it has an on/off switch) to the Internet and to other connected devices. The IoT is a giant network of connected things and people – all of which collect and share data about the way they are used and about the environment around them.”2
IoT is empowering organizations to collect and act upon more information, but as we move into a more connected world, we must also move towards new smart infrastructure capable of dealing with the scale and lifecycle of dispersed but connected assets.3
IIoT is the specific application of IoT technology and infrastructure in an industrial setting.
For example, an IIoT solution may collect information simultaneously from various sources including assets, software systems and more. IIoT delivers crucial information to maintenance management teams and increases their efficiency. It has promoted growth in multiple areas like the following.
As discussed in our previous blog, Reactive maintenance describes the strategy of repairing parts or equipment only after the asset has broken down or been run to the point of failure.
Reactive maintenance is appealing because it offers maximum utilization and increased production output by using the asset to its limits.
This strategy is only beneficial, however, up until the point where the asset fails. The cost of repairing the asset after failure can potentially be more than the production value received by running it to failure.
IIoT solutions help companies improve their overall maintenance operations by enabling a transition to a predictive maintenance program.
This maximizes the output of their parts or equipment, while also preventing breakdowns before they occur.
An IIoT solution takes the guesswork out of the maintenance process by utilizing pre-configured algorithms to automatically notify maintenance teams when a problem is occurring. Sensors transmit real-time information which can be used to adjust schedules and prevent emergency work.
Not only does this help with preventing unplanned downtime, but it also reduces maintenance operating costs and makes it easier to effectively track asset health.
An IIoT solution eliminates the need for paper-based manual inspections. Instead, it uses asset sensors and software to capture and collect asset health data. Removal of the manual processes not only diminishes the chances of human error but also increases the number of parameters that can be monitored.
IIoT solutions increase both the quality and quantity of asset health data. It builds on the data’s integrity and accuracy. Better quality data leads to better insights and subsequently to more informed decisions.
When sensors are installed on machinery, real-time data is more easily and more accurately collected. IIoT solutions can deliver data to the maintenance team precisely when it is needed. In other words, an IIoT solution ensures the right work is completed on the right asset with the right tool and the right resource at precisely the right time.
When asset data is collected in this precise manner, and work is completed according to this data, it creates an atmosphere for more exact and more impactful maintenance analytics.
Analytics completed based on real-time data allows for more informed and more impactful maintenance decisions to be made.
IIoT solutions help maintenance teams to meet their main goals: reduce unplanned downtime, increase asset uptime and reduce maintenance costs. As we see more facilities implement IIoT solutions, we can expect to see further changes in the way maintenance teams work and interact at each stage of their processes.
Despite this, a basic IIoT implementation cannot ensure success if it stands alone. How your organization acts on the additional information provided will determine your success.
For more information on how VIZIYA can help your maintenance organization gain the most success from an IIoT solution, Request a Demo of our WorkAlign® Suite.