Use Cases Machine Condition Monitoring

Machine Condition Monitoring

Early predictions on equipment malfunctions and service maintenance can be automatically scheduled ahead of an actual part failure by installing sensors inside equipment to monitor and send reports.

Machine condition monitoring is used to determine the condition of a machine with the intent to forecast mechanical wear and failure. The predicted data provides health information about the machine and helps to predict machinery failure. The monitoring equipment tracks changes in temperature, vibration, and output of machines in order to detect an imbalance, corrosion, wear, misalignment, sediment build-up, or poorly lubricated parts.

Condition monitoring has gained importance in line with increased company focus on productivity and asset utilization.

 

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The machine condition monitoring market was valued at USD 2.21 billion in 2017 and is expected to reach USD 3.5 billion by 2024, at a CAGR of 6.7% during the forecast period.

Source: Markets and Markets

Machine Condition Monitoring Equipment Market to Cross $3.2 Billion by 2023.

Source: P&S Intelligence

 

What is the business value of this IoT use case and how is it measured?
Your Answer

What are the advantages of Machine Condition Monitoring?

- Increased machine availability and reliability

- Improved operating efficiency

- Improved risk management (less downtime)

- Reduced maintenance costs (better planning)

- Reduced spare parts inventories

- Improved safety

- Improved knowledge of the machine condition (safe short-term overloading of machine possible)

- Extended operational life of the machine

- Improved customer relations (less planned/unplanned downtime)

- Elimination of chronic failures (root cause analysis and redesign)

- Reduction of post-overhaul failures due to improperly performed maintenance or reassembly

 

What business, integration, or regulatory challenges could impact deployment?
Your Answer

What are the disadvantages that must be weighed in the decision to use machine condition monitoring and fault diagnostics?

- Monitoring equipment costs (usually significant)

- Operational costs (running the program)

- Skilled personnel needed

- Strong management commitment needed

- A significant run-in time to collect machine histories and trends is usually needed

- Reduced costs are usually harder to sell to management as benefits when compared with increased profits.

 

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