Predictive Maintenance: A Pragmatic Outlook

Predictive maintenance (PdM) has emerged as one of the most compelling applications of Industry 4.0. While not a fundamentally new concept, PdM is experiencing something of a renaissance, driven largely by advances in sensors, connectivity, and analytics. It represents a massive opportunity for operators to improve asset uptime and decrease associated costs throughout operations, as well as for vendors to sell new PdM-related products and services. In this report, we examine the various differentiating factors that add nuances to the decision-making processes of either engaging with or developing a PdM platform.