Key Trends in Machine Monitoring in 2022

Why is Machine Monitoring Needed?

In the manufacturing world, organizations need to have an eagle view to see more and better. Because in the manufacturing world, the calculation is simple, the greater the amount of unscheduled downtime, the greater the revenue loss. If a company is not making a product, it is losing revenue. With these losses kept in mind, industry 4.0 is amid a monitoring revolution. The revolution will continue to improve over the next decade as newer and better tools and technologies emerge.

Machine monitoring was available in sophisticated forms over the years but was never quite adopted by the manufacturing world. Today the situation is changing and finally, machine monitoring is being prioritized in the industrial world. The reason behind the same is the lack of a skilled workforce, economic trends, and the proliferation of new technology offerings.

How is IoT helping in Machine Monitoring?

Machine monitoring is the ability to assess the health of the machine over a period. This includes things like improving efficiency, checking the parts of the machine for wear and tear, bearing failures, cavitation, etc., and checking the usage and maintenance statistics.

In the manufacturing world, IoT makes use of web-enabled sensors and devices that are installed on machines in the factory. The important data from these sensors are collected and is shared with a centralized platform where the data is analyzed and processed for useful information. The machine operators and factory supervisors can make use of the data to check the machine health and take corrective actions based on the data provided.

Key trends in 2022 for Machine Monitoring

The machine condition monitoring market was valued at USD 1,883.6 Million in 2017 and is expected to reach a value of USD 2,551.9 Million by 2027 at a CAGR of 5.22%. So, what are the trends that will make the machine monitoring industry grow in the coming years? With the pandemic behind us, some of the key trends in 2022 are:

• Reduce Downtime through Predictive Analytics

  Downtime is one of the main reasons why industries face billions of losses and reducing downtime is one of the key priorities of the industrial world. The evolution of the machine can be used to anticipate how the asset will perform over time and how it might degrade, allowing for predictive maintenance to come into the picture. Predictive Maintenance is one of the key trends in machine monitoring where maintenance is done based on which failures may occur and what maintenance should be scheduled to prevent them.

• Analyze the machine’s Historical Data
  Data is the need of the hour, and it is the same for monitoring the machines. Monitoring of the machines allows the industries to have a history of data and they can select the monitoring periods that they want to analyze. The industries should have specific goals or KPI’s based on the need. Once the need is identified, the data can be analyzed based on specific needs like maintenance, supplies, failures, etc. The starting and stopping time of the machines can also be analyzed to check the health of the machines and denote the efficiency based on that. Analyzing the data is one of the key trends in maintaining machine health.
  
  
• Improve Facility Efficiency
  Efficiency is one of the key parameters to maintaining machine health. Many different factors contribute to determining the efficiency of the factory. By processing the data, machine handlers can determine inadequacies and inefficiencies that restrict machines from operating with utmost efficiency. When a machine operates, one of the major consumptions is energy. So, the organizations can monitor the energy consumption of all the devices and take effective measures. Based on the real-time energy consumption insights, companies can take measures to reduce energy consumption and improve the efficiency of the machines and increase the revenue of the plants.
  
  
• Reduce Wastage
  Machines consume more resources when the conditions are not checked regularly, and the machines are not up to the mark. One of the key trends in machine monitoring is to reduce wastage. If not checked properly, the machines will not only utilize more resources but also waste materials. By using machine monitoring techniques, as CIMCON Digital provides with its VIBit sensor, temperature, pressure, noise, vibrations can be monitored to reflect the conditions of the devices. By analyzing these parameters, the organizations will understand how much the volume of resources has been consumed. Hence, they can reduce the limit of utilization like fuel, electricity, lubricant, cooling and keep a proper stock of the machine parts, thereby reducing wastage.
  
  
• A monitoring Transformation
  In just a few years and with Industry 4.0 in the picture, the monitoring landscape has shifted from one defined by a reactive approach to a more holistic approach by understanding what is happening within the complex systems they need to manage. CIMCON Digital with its 30+ years of expertise has seen the transformation journey from reactive to a more proactive approach and develops solutions based around the same. With its rich history, CIMCON Digital helps industries in maintaining machine health and monitoring the same.

So, what we are seeing today is likely just the beginning. We are in the midst of monitoring revolutions, which will probably continue to play out over the next decade and CIMCON Digital will play an important part in this digital revolution.