This report provides Transforma Insights’ view on the Remote Diagnostics and Maintenance market. This segment comprises three application groups: Machinery Remote Diagnostics and Maintenance, Healthcare Manufacturer Monitoring and Vertical Transportation system.
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 equipment and reduce high 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.
The report examines 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.
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 Pfannenberg using Modbus cloud connectivity, in collaboration with Deutsche Telekom.
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). It also lists a few barriers to the adoption of IoT in the healthcare sector, such as confidentiality.
It then mentions a few examples of relevant IoT deployments in this application, including GE Healthcare working with InHand Networks for preventive maintenance of medical equipment.
This section of the report first defines vertical transportation and then discusses its importance, like being crucial for the efficient operation of a building.
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.
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 ThyssenKrupp Elevator (TKE) using Microsoft Azure for the predictive maintenance of its elevators.
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, Grandcentrix, 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 5.2 million in 2023 to 20.9 million in 2033.
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%.
