Abstract
Increased Drive to Integrate Condition Monitoring with Plant Asset Management
and CMMS Systems
Separate condition monitoring techniques are easier to implement, but have
limited capabilities. Hence, the need arises to integrate condition monitoring
equipment with plant asset management (PAM) and computerized maintenance
management systems (CMMS) of organizations in the pursuit of automation of the
maintenance process. This helps in ensuring that results from analysis by
different condition monitoring techniques such as vibration monitoring, oil
analysis and thermography can be collectively received toward offering a
holistic view on asset condition and planning predictive rather than periodic
maintenance. Condition monitoring equipment vendors hence have to create
products that offer computer-based interconnectivity through software to
integrate with PAM/CMMS, rather than standalone products. If not, they will
eventually be left behind.
Emerging End-use Applications Spur Demand for Condition Monitoring Equipment
Condition monitoring solutions are finding application in a large spectrum of
emerging end-user opportunities. The power generation industry, especially the
wind energy segment and the heating, ventilation and air conditioning (HVAC)
is growing as an end-user market for condition monitoring equipment. Notable
among others is the environmental industry, where condition monitoring
equipment is required to monitor performance of machinery and facilities in
which failure of system performance can result in serious repercussions
detrimental to the environment. Growing concern for the environment is
expected to offer increased opportunities for condition monitoring solution
providers in this segment. There are opportunities galore in these emerging
end-use applications and they are expected to enhance growth in this market.
Strong Potential in Services and Consulting Market
Constant pursuit of cost optimization has resulted in the reduction in
manpower resources in maintenance departments of organizations. Realizing the
increasing importance of condition monitoring as a means towards minimizing
risks and maximizing returns, customers are progressively looking at condition
monitoring consultants and service providers to implement and manage condition
monitoring programs. This growing trend toward outsourcing and remote
monitoring is expected to drive growth in the condition monitoring services
and consulting market.
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