Smart sensors are key to revolutionising predictive maintenance in motor driven systems

26 May 2020

A new predictive maintenance focussed report from Interact Analysis (IA) highlights the potential for a new relationship between component manufacturers, OEM machine builders, and end users.

The report forecasts a boom in the sector, propelled by the emergence of smart sensors which are able to monitor crucial parts of a motor-driven system that are not covered by legacy maintenance devices and methods. Advanced smart sensors will allow delivery of viable cloud-based predictive maintenance service packages using a software as a service (SaaS) business model. 

The report shows that the market for predictive maintenance in 2019 was $117.5 million, largely made up from legacy predictive maintenance products such as portable monitoring devices. Many of these devices will maintain strong growth in the coming decade but will be used in tandem with new technologies such as smart sensors, the latter fuelling an expected boom in market value of predictive maintenance technology, up to almost $1 billion in 2024. 

Smart sensors, which typically monitor sound, temperature, and vibration, may not provide the depth of data offered by some legacy devices, but do have advantages. Whereas most legacy
devices are attached to motors, IA predicts that only 53% of smart sensors will be attached to motors by 2024. The rest will be attached to other machine components which are also subject to the wear and tear of daily use. This means that the application of predictive maintenance will be far more widespread in the factories of the future. 

Commenting on the report findings, Blake Griffin, lead analyst on predictive maintenance at Interact Analysis, said: “Smart sensor technology coupled with IIoT capabilities give component manufacturers and OEM machine builders the scope to offer end users an anticipatory service package. For most providers of predictive maintenance, the logical business model will be software as a service. A side benefit of SaaS is that it ties all technologies together under a single solution – thereby eliminating concerns regarding data ownership. Additionally, advancements in embedded machine learning will improve the ability for predictive maintenance to be installed in new or non-standard applications that are less well understood, further fuelling growth.”

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