How IoT Will Change Asset Management/Maintenance

Quite rightly, IoT is being included in most analyst lists that predict what emerging technologies will come of age in 2017+. For me, technology coming of age means two things:

  1. Vendors are delivering real projects and are making real money; and
  2. Customers are realising real ROI on their investments in IoT initiatives.

One example where we will see real traction is Brisbane start-up Movus. Movus is bringing to market a solution that starts with their IoT based FitMachine sensors.

movus-fitmachine-sensor

Movus FitMachine

The basic premise of the FitMachine is its ability to monitor equipment operations and health and over time, develop data that then allows their solution to prompt for preventative maintenance vs scheduled maintenance.

The implications and opportunities for this type of IoT solution are quite obvious and really exciting. In addition to disrupting the asset maintenance industry I can also see global companies like Rio Tinto, AGL, or Volkswagon utilising this technology up and down their supply chain so as to better understand what their suppliers are doing in terms of asset maintenance and how to predict and avoid unplanned outages.

What will be really interesting to see is whether Movus look to add on Augmented Reality to their solution set – merging data about anomalies into a wearable device that allows maintenance staff to quickly find, check, and fix issues…

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