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This report provides a global snapshot of condition monitoring and how organizations drive value through automation and digitization, along with the challenges they face.This timely analysis provides actionable insights to help both end users and service providers identify opportunities in 2023 and beyond.
Companies that build or service large infrastructure installations such as dams, mines, and transportation facilities must monitor the conditions within—and surrounding—those installations to look for signs of possible structural failure or environmental degradation. In today’s world, where both regulators and the public are paying closer attention to safety and the environment, automated, real-time measurement and management are critical.
To understand current and future condition monitoring trends and practices among both service providers and asset owners, Bentley Systems commissioned ThoughtLabto conduct a global survey of 500 companies in the first quarter of 2023.Survey respondents included a mix of C-suite executives and other senior managers, aswell as technical managers and technical staff knowledgeable about condition monitoring in their organizations. These executives worked in six sectors across five countries. Company sizes ranged from under 100 employees to over 1,000.
The study found that automation of condition monitoring is growing as companies embrace connected sensor technology that reduces the need for frequent manual sampling. By moving to automated monitoring, organizations can increase the scope of their monitoring activities, track more parameters, integrate data with other sources, build transparency, and monitor trends in real time. However, some organizations may see challenges in implementation around lack of skills, knowledge, and technology limitations.
For companies that overcome these challenges, the rewards can be high, with some organizations citing returns of over $1 million.