Technological Advances to Dictate Predictive Maintenance Strategies in Power Industry

Predictive maintenance is a critical part of the power industry

The emergence and swift growth of innovative technologies such as the Internet of Things (IoT), artificial intelligence (AI), augmented and virtual reality (AR/VR), big data, and cloud computing have shaped the maintenance strategies of the power industry. The base measurement technologies for predictive maintenance such as vibration monitoring and thermal imaging have also improved, as huge amounts of data and analytical capabilities are available, thanks to the rise in digital transformation projects across the power industry.

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The Predictive Maintenance in Power – Thematic Research report offered by GlobalData Plc provides comprehensive information about the predictive maintenance value chain, its role within the power value chain, and the corresponding participation of major players.

Key Power Trends Impacting the Predictive Maintenance Theme

• Cost pressure
• Streamlining maintenance activities
• Aging infrastructure
• Shortage of skilled workforce
• COVID-19

Key Technology Trends Impacting the Predictive Maintenance Theme

• Digitization
• Digital twin
• Internet of Things
• Combining multiple technologies
• Data analytics
• Augmented & virtual reality

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Key Macroeconomic Trend Impacting the Predictive Maintenance Theme

• Enhanced Sustainability

Predictive maintenance enables companies to minimize production risk by eliminating unforeseen outages. Enterprise-level utilization of predictive maintenance solutions can help companies to collect a significant amount of data for a maintenance schedule without altering their regular production practices. This will, in turn, help power companies drive down operational costs and will improve operational efficiencies along with profitability

Predictive Maintenance Value Chain in Power Industry

• Device layer
• Connectivity layer
• Data layer
• Services layer
• App layer

The device layer majorly involves hardware manufacturers that collect and analyze data on machinery vibrations, heat signatures, metrology, and several other metrics. The companies that cater to this segment include makers of semiconductors and electronic devices (such as sensors, transducers, probes, and thermal imaging systems) and manufacturers of instrumentation for the measurement and analysis of sensor data.

Leading Power Utility Companies Associated with Predictive Maintenance Theme

• Enel
• EDF Energy
• Duke Energy
• E.ON
• Southern Company
• American Electric Power (AEP)

Leading Power System Service Companies Associated with Predictive Maintenance Theme

• Aker Solutions
• Baker Hughes-GE
• Halliburton
• DNV

Predictive Maintenance in Power Thematic Report Scope

• Overview of the evolution of predictive maintenance as a theme and key technologies employed.
• Review of the application of predictive maintenance strategies in the power industry.
• Detailed analysis of the predictive maintenance value chain, its role within the power value chain, and corresponding participation of major players.
• Highlighting the various industry, technology, and macroeconomic trends influencing the predictive maintenance theme.
• Assessment of the strategies and initiatives adopted by power companies to gain a competitive advantage in this theme.

Reasons to Buy

• Identify the key industry, technology, and macroeconomic trends impacting the predictive maintenance theme.
• Deployment of predictive maintenance strategies in the power industry.
• Understand the predictive maintenance value chain and the key players in it.
• Identify and benchmark key power utility players and power system services companies based on their competitive positioning in the predictive maintenance theme.

FAQs

What are the key power trends impacting the predictive maintenance theme in the power industry?

The key power trends that will impact the predictive maintenance market in the power industry are cost pressure, streamlining maintenance activities, aging infrastructure, shortage of skilled workforce, and COVID-19.

What are the key technology trends impacting the predictive maintenance theme in the power industry?
The key technology trends that will impact the predictive maintenance market in the power industry are digitalization, digital twin, the internet of things, combining multiple technologies, data analytics, and augmented & virtual reality.

What are the key macroeconomic trends impacting the predictive maintenance theme in the power industry?

The key macroeconomic trend that will impact the predictive maintenance market in the power industry is enhanced sustainability.

What are the key value chains of the predictive maintenance market in the power industry?

The predictive maintenance value chain in the power industry can be categorized into the device layer, connectivity layer, data layer, services layer, and app layer.

Which are the leading power utility companies associated with predictive maintenance theme?

The leading power utility companies associated with the predictive maintenance market are Enel, EDF Energy, Duke Energy, E.ON, Southern Company, and American Electric Power (AEP).

Which are leading power system services companies associated with predictive maintenance theme?
The leading power system services companies associated with the predictive maintenance market are Aker Solutions, Baker Hughes-GE, Halliburton, and DNV.

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