What is the potential of predictive IIoT maintenance concepts?

According to research performed by Accenture Technology, a globally active consultancy, the successful implementation of predictive maintenance can have a marked impact on the performance of industrial organisations across sectors, saving up to 12% over scheduled repairs, reducing overall maintenance costs by up to 30% and increasing breakdown avoidance by up to 70%. Accenture cites the example of Thames Water, the largest provider of water and wastewater services in the UK, which is using sensors, analytics, and real-time data to help it anticipate equipment failure and respond more quickly to critical situations such as leaks.

The demand for IIoT-capable smart plastics will therefore continue to rise as machine builders and equipment makers look to secure their products in the future. This represents a significant business opportunity for development component manufacturers by offering traditional products with integrated intelligence in the Industrial Internet of Things.