Cimcon Digital

  According to the McKinsey Global Institute, a leading business, and economics research establishment, manufacturing companies could reduce product development costs by up to 50% and operating costs by up to 25% if they fully utilize the data available to them. But many plants still operate on the “run to failure” maintenance strategy. This is a reactive solution; the plant engineers or maintenance staff act only after a machine stops working, leading to high production losses. Industrial Automation Market Between The Great Resignation and the COVID-19 pandemic, workforce scarcity and remote work make it more difficult to maintain industrial machinery. The Global Industrial Automation market is projected to grow at a compound annual growth rate (CAGR) of 9.2% until 2028. The market is projected to be worth $355.44 billion USD; it’s currently  $191.74 billion USD. Keeping up with maintenance needs for a growing number of assets in the future will lead to more unplanned downtim...

Data and analytics are the two most important and critical components of Digital Transformation. Data is the new game-changer and according to the latest reports, data-driven organizations are 19 times more likely to be profitable. According to Gartner, a leading technology research and consulting company, 72% of Data and Analytics leaders are heavily involved in Digital Transformation initiatives. But considering the huge amount of data being generated, the analysis of the same becomes a difficult and hefty task. This leads to the introduction of AI & ML techniques to reduce the human effort involved and make the data analysis less tedious and time-consuming. International Data Corporation( estimates that global budgets for Artificial Intelligence will double over the next four years, to $110 billion in 2024. “Companies will adopt AI — not just because they can, but because they must,” IDC’s AI program vice president, Ritu Jyoti noted. “AI is the technology that will...

  “Better be three hours too soon, than a minute too late.”  These famous words by William Shakespeare rightly denote the importance of delivering early rather than at the last minute. In the manufacturing industry, tardiness can cause heavy losses. In this industry, it is always a wise decision to pre-emptively solve problems, especially when it comes to predictive maintenance. But exactly why is predictive maintenance so vital to the manufacturing industry? The manufacturing industry usually follows a  “run-to-failure”  or reactive maintenance approach where they operate the machines and systems before they break. It seems a cost-effective solution at first, especially when the machines are new and require minimal maintenance. However, once wear and tear begin, reactive maintenance is a costly affair. Breakdowns become more frequent along with unplanned downtimes that increase operational costs and reduce productivity. Ultimately, this costs you money. According to...

  The global pump market has been extremely volatile during the past few years with the decline of global oil and commodity prices. Pump manufacturers are looking for ways to minimize losses and introduce new ways of earning profits. As more and more devices are turning smart—from houses to cars-the pump industry is following suit. The digital transformation and the internet are changing the face of the pump industry completely, introducing the concept of predictive analysis and equipment monitoring. This reduces unpredictable maintenance costs and expensive downtime. Why IoT in the Pump Industry The pump market has seen a growing trend of implementing new technologies, called  Pump-as-a-service .  This provides an opportunity for pump manufacturers to innovate and provide full pump solutions instead of merely adding a component to their overall equipment portfolios. But why is the Internet of Things (IoT) a good fit for the pump industry? There are some major t...

  Introduction We live in a world of connected machines, appliances, sensors, and other devices. Driven by increasingly affordable and reliable internet connectivity, trillions of devices are being connected to the world wide web for the first time. Internet identity is a finite resource; IP addresses can only be allotted to a limited number of network-capable devices. In fact, some classes of devices are not networked capable. These devices make use of intermediate, network-enabled devices to participate in the networked world. Such intermediate devices are called IoT Edge devices, or just Edge devices. Edge devices have played a crucial role in the adoption of Internet of Things (IoT) technology. In the IoT, Things refer to the appliances, machines, actuators, and sensors that are connected to the internet. In the future, the roles of IoT Edge devices will take center stage in the landscape of IoT Gateways and Things. Let’s take a brief look at the technological advances that ena...

The question that the pump manufacturers ask today is, “how can manufacturers create new revenue streams while also competing more effectively in a global market which is fixated on lowest-cost production?” The answer lies in the fact that service transformation, enabled by connected technologies and alternative service approaches, is the key to diversifying pump manufacturing revenue streams while generating unprecedented value for customers. The terms pump-as-a-service has come into use over the last few years. With the advent of new technology, servicing pumps is becoming a key revenue generator for pump manufactures. How do Pump Manufacturers Fare in the Digital Transformation? Pump manufacturers are looking at the service industry in a whole new light as pump industry growth has slowed and the servicing industry has surged in growth. The pump market is in a mature stage with nominal growth expected, while the service industry is expected to grow at a stronger rate. What is the imp...

  Maintaining the health of assets is critical to the success of any business. Unforeseen asset breakdowns and downtimes hit businesses hard. Accordingly, preventative maintenance is of the utmost importance. Good Machine health monitoring systems move businesses toward effective  Predictive maintenance . Data is acquired from machines by installing various sensors on it. Then, this data is used to create visualizations which convey the health of the equipment. However, these systems cannot predict breakdowns or sense deteriorating asset conditions; they only alert the user when a problem has already occurred. In order to use this data to prevent breakdowns, a skilled system operator would have to monitor the sensor data 24/7. This is a highly inefficient, costly use of business resources.  Additionally, it is near to impossible for human to manually analyze thousands of data points each day. Artificial Intelligence ( AI ) to the Rescue The latest Artificial Intelligence ...