This article explores the implementation of predictive maintenance models in industrial IoT settings and their significant impact on ensuring equipment reliability.
The Need for Predictive Maintenance in Industrial IoT
Traditionally, industrial facilities have relied on reactive maintenance strategies, addressing equipment failures after they occur. This approach often leads to unplanned downtime, increased maintenance costs, and potential safety risks. With the integration of IoT sensors and AI capabilities, predictive maintenance shifts the paradigm towards a proactive and data-driven strategy. While sized at 4.5 billion U.S. dollars in 2020, the market is projected to reach a size of 64.3 billion U.S. dollars by 2030.