A key driver behind the rapid adoption of Industrial IoT (IIOT) is to improve productivity whilst reducing the total cost of ownership including the cost of maintenance, planned and unplanned, minimising downtime and remaining compliant with the regulatory environment. There is a clear and recognisable business case for having an early indication of potential equipment failure as this give asset managers vital time to plan for maintenance or repair. This extra time saves real money.
However, monitoring assets in industrial environments comes with its own challenges. These include operating over a wide temperature range, high humidity or immersion, availability of power and potentially large electrical and magnetic fields. These alone can make installation and maintenance difficult and costly.
When deciding on a remote condition monitoring solution it is important to fully understand the whole life cycle of the asset, what are the data or message requirements and the total cost of expenditure (TOTEX) of the system over its useful life. With budgets tight across industries all costs must be considered including maintaining any batteries and not just the cost of sensors or the installation. Operating a system for years will come with a cost that needs to be included.