Energy market needs
With increasing levels of competition, globalization having downwards pressures on prices and the uncertainty arising from the UK’s unknown trade relationships with both the EU and America, the Energy & Utilities industry has enough issues with delays in energy distribution, service reliability, and blackouts as a result. Traditionally, if problems were to arise, the majority of the service in certain are had to be powered down, and a long process of diagnostics undertaken in order to find the exact cause. Not only is this costly, having huge implications on productivity, but the process is also extremely inefficient. Not mentioning confused and frustrated end – users.
As a result, a very high availability of all used systems must be ensured for a proper operation at any time. Technical measures to guarantee the high availability needs to be in place.
Predictive maintenance can help solve these problems
Predictive maintenance through digital transformation is helping to both find problems easier, resulting in less downtime, as well as predicting possible future problems, which can be attended to and solved before they escalate. Industry digitalization is becoming a current trend across all markets, and predictive maintenance is at the forefront of this change.
With the vast amounts of data that the Energy & Utilities industry produces, it has been easy for digital transformation to occur. By gathering, analyzing and utilizing this data effectively, commonly known as big data analytics, huge numbers of insights and predictions can be made which, when acted upon, allow businesses to make better and more informed decisions.
As such, digital transformation is reshaping the Energy & Utilities industry. Decisions are being driven by the data; it is estimated that 75% of large Energy providers and distribution companies will be upgrading their internal systems and infrastructure with the Internet of Things and analytics-based situational awareness programs in order to help sustain grown and productivity.
Predictive maintenance is just one of the areas that digital transformation will develop. By constantly innovating with implementing comprehensive technology solutions that will enable to monitor and control critical for those companies’ assets, greater precision and accuracy will be achieved, machine downtimes will be reduced, as will unplanned maintenance activities.
Benefits of predictive maintenance
The benefits of predictive maintenance will be many and varied, for example:
- Forecast maintenance events with higher accuracy, placing these in broader strategic contexts
- Increase the precision of energy distribution efficiency and service provided
- Increase and extend the life cycle of critical components within their utilities
- Create custom component-wise maintenance agendas
Given that the Energy industry produces vast quantities of data consistently, the digital transformation of the whole sector is likely to happen very quickly, with investment in this area increasing rapidly.