Predicting operational issues, optimizing operations and reducing environmental impact of the industry. Icos Capital’s view on market potential, scale-ups in this field and developments up to now.
Predictive maintenance (“PdM”) is a set of techniques helping to assess the condition of in- service equipment and determine when maintenance is needed. The goal is cost saving over routine or time-based preventive maintenance, as maintenance tasks are only performed when required.Predictive maintenance has existed mainly in oil & gas, power, especially wind energy, and aer- ospace sector so far. The most common technique applied is so-called “condition monitoring” for critical assets where vibration, use of oil, thermographic or ultrasound analysis is monitored as an indicator to potential problems. The goal is to identification (potential) problems and fix them before they can disrupt critical processes. Other key benefits include elimination of unnec- essary maintenance tasks; reduction of replacement cost and unplanned downtime; and exten- sion of asset life.
Major research and consulting firms are projecting substantial growth for predictive maintenance markets, including one study by Roland Berger projecting it to be an €11 billion market by 2022. According to this study, the key technologies to drive further growth such as IoT, machine learn- ing and industrial automation are already in place.
Icos has reviewed 110 propositions in this market in 2018. Click here to download the report.