This report provides Transforma Insights’ view on the Remote Diagnostics and Maintenance market. This segment comprises three applications: Machinery Remote Diagnostics & Maintenance, Healthcare Manufacturer Monitoring, and Vertical Transportation.
Remote Diagnostics & Maintenance has significant potential across the Industrial IoT domain. This includes OEM-installed connectivity in addition to retrofitting functionality on both new and brownfield equipment, predominantly within the manufacturing domain. This Application Group also includes virtual monitoring of critical hardware devices in the healthcare sector and the use of IoT-enabled hardware solutions within the vertical transportation segment including lifts and escalators. Most of these devices are likely to support large and expensive pieces of equipment, with a goal to streamline workflows, enhance operational efficiency, increase workers’ safety, and reduce maintenance bills and machine downtime.
The report provides a detailed definition of the sector, analysis of market development and profiles of the key vendors in the space. It also provides a summary of the current status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used and revenue.
A full set of forecast data, including country-level forecasts, sector breakdowns and public/private network splits, is available through the IoT Forecast tool.
This section of the report first describes the general benefits of adopting remote diagnostics and maintenance devices. For instance, these devices enable collecting and analysing machine data to gain actionable insights, which in turn, saves technicians’ time in finding malfunctions, eventually resulting in quick issue resolution and increased productivity.
It then explains how retrofitting remote diagnostics and maintenance capabilities is also common, as retrofit kits provide a cost-effective solution for integrating legacy equipment with IoT sensors and advanced analytics, offering a viable alternative to purchasing new machinery. However, on the other hand, it also claims that factory-fit products have better compatibility and are better tuned to their host equipment in comparison to retrofit devices. The report then examines the key factors that are influencing the development of the market, including:
This section of the report discusses the drivers (such as various national initiatives), the features (including enabling instant detection and reaction to abnormalities in machines), and the benefits (like reduced downtime, maintenance, and overhaul costs) of automated remote monitoring and diagnostics.
This subsection primarily focuses on the advantages of remote diagnostics, including huge financial savings for operators, enhancement of the Overall Equipment Effectiveness (OEE) and productivity of a plant, and bridging the gap between floor workers and executives by identifying and resolving bottlenecks in production. For example, the Ericsson Panda manufacturing plant in Nanjing (China) used cellular IoT and connected 1,000 devices to send and receive data in real-time. The IoT solution cost the firm USD20 per unit and reduced maintenance work by approximately 50%, saving USD10,000 annually, which helped the manufacturing plant break even within 2 years.
This subsection focusses on the implementation of a smart 'signal splitter' into an old connection on an industrial machine – for connecting legacy devices. It then talks about the functions and advantages of such splitters. For instance, these splitters can translate protocols and securely connect equipment, sensors, databases, and applications, which is useful in cases where factories have lots of legacy equipment that were deployed before IP networking. It also discusses the other way to connect these legacy pieces of equipment - fitting them with IoT sensors and integrating them with IoT architectures and advanced analytics.
This subsection discusses the communication technologies that are used for remote diagnostic and maintenance of machines and mentions their advantages and disadvantages. For instance, it claims that end users prefer private networks since they are more secure and reliable. Furthermore, it talks about the growing popularity of Mobile Private Networks – deploying dedicated 4G and/or 5G networks on-site for specific clients, and also contains a few examples of relevant IoT deployments in this application, like Armal using remote monitoring IoT devices for energy efficiency at its plastic manufacturing plant.
This section discusses the importance of monitoring and maintaining medical equipment and explains how IoT sensors are being integrated into medical devices and the benefits of doing so (like measuring and accessing the health of such devices). For example, Philips e-Alerts for MRI systems, is a tool that acts as a virtual overview of an MRI system’s performance. It uses sensors to monitor critical parameters of the MRI system and issues automated alerts if anything goes wrong.
It also lists a few barriers to the adoption of IoT in the healthcare sector, such as confidentiality, since patient data is considered as a sensitive data across various countries and regions, such as the EU. It then mentions an example of a relevant IoT deployment in this application, which is SCP Radiology in Western Cape (South Africa) using Philips Remote Services for preventive maintenance of imaging machines.
This section of the report first defines vertical transportation and then discusses its importance. For instance, smart elevators and escalators enable better safety and security, improved energy efficiency, and more effective crowd management. It then talks about how the vertical transportation segment has benefited from the deployment of remote monitoring devices. For instance, IoT devices help reduce elevator and escalator downtime and breakdowns, increasing safety for passengers. It also discusses some legislations that require the use of IoT in these circumstances, like the new regulatory scheme of Singapore’s Building and Construction Authority (BCA), which was announced in July 2022 and states that lift owners and contractors can reduce maintenance to once every three months, provided the lifts are equipped with IoT devices.
It then alludes to the communication technologies used by the vertical transit equipment (like public cellular networks for servicing) and also gives a few examples of relevant IoT deployments in this application, like SNCF Gares & Connexions using NKE Watteco LoRAWAN sensors for predictive maintenance of its escalators in France, to reduce maintenance time to 4 hours and to improve the quality of service for its users.
The key vendors section lists some of the main providers of products and services related to the market such as Bosch, Siemens, IBM, SAP, Honeywell, and SKF. The report provides profiles of the various vendors including aspects most relevant to this Application Group, such as product offerings, pricing, financial results, and technology.
In the market forecasts section, we provide a summary of the forecasts from the Transforma Insights IoT Forecast Database:
The report charts the growth in the number of connected devices, which will grow from 7.2 million in 2024 to 27.5 million in 2034.
Transforma Insights forecasts are compiled on a country-by-country basis. This report includes a regional summary, showing splits between Australasia, Greater China, North America, Europe, Japan, Latin America, MENA, Russia & Central Asia, South East Asia, South Korea, India & South Asia, and Sub-Saharan Africa.
Transforma Insights’ IoT forecasts include splits between the various connectivity technologies as follows: 2G, 3G, 4G, 5G mMTC, 5G non-mMTC, LPWA (non-mMTC), Satellite, Short Range, and Other.
This section discusses which technologies will be used in the remote diagnostics & maintenance application group.
This part of the report discusses the market growth in terms of revenue (module revenue, service wrap revenue, and VAC revenue). Transforma Insights estimates that the revenue in the Remote Diagnostics & Maintenance Application Group will grow at a CAGR of 16%.
