Manufacturing and remote sites have multiple rotary machines. e.g., pumps, drives, gearboxes, compressors, etc. These are critical assets; the failure of any one of them can cause severe disruption to the production lines, potentially even leading to line or even plant shutdown.

This is leading to O&M teams spending several million dollars annually as part of maintenance contracts with OEMs & service providers for maintaining critical equipment. This is apart from the even higher opportunity costs incurred due to productivity losses (up to 50%).

Earlier (in Industry 3.0), it was both cumbersome and expensive to monitor the health of this equipment. Hence such machines were not given importance vis-a-vis health monitoring. But now, with AI-IoT-based solutions, these activities can be more efficient and effective.