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Big Data Analytics is Poised to Change the Maintenance Services Models Across the Manufacturing Sector

28/08/2015 by Sharon Shahzad

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The landscape of business opportunities in the manufacturing services sector is expected to increase 1.5 times by the end of 2020, finds Frost & Sullivan 

The advent of the Internet of Industrial Things (IoIT) has triggered an influx of technology-oriented services such as cybersecurity and advanced maintenance. This has dramatically widened business opportunities in the manufacturing services sector. As integration with information and communication technologies (ICT) such as big data analytics and cloud-based platforms will form the crux of next-generation manufacturing services, solution providers are developing a portfolio of services that address security and operational improvement as well as maintenance and support.

New analysis from Frost & Sullivan, Services 2.0: The New Business Frontier for Profitability, finds that the paradigm of service strategies will shift from corrective to preventive and predictive maintenance services over the next five years. Effective utilisation of predictive analytics can optimise costs and eliminate unplanned downtime, which are highly attractive benefits for manufacturers.

Big data analytics is poised to change the maintenance services models across the manufacturing sector. The investments for establishment of robust maintenance and support service model by leveraging the big data analytic concepts is the critical factor for the high growth rate (CAGR 9.1%, 2014-2021). "In line with the emerging trend of IoIT, manufacturing services are also evolving into a connected ecosystem supported by a single control centre," said Frost & Sullivan Industrial Automation and Process Control Senior Research Analyst Srikanth Shivaswamy. "The demand for interoperability and maximum transparency across multiple products and processes is lending credence to the concept of connected operations."

Such extensive integration will entail high costs for manufacturing units. The convergence of ICT with conventional services will require sophisticated platforms, further raising initial capital expenditure. However, the deployment of advanced process controls and smart communication systems will boost efficiency and compensate for the steep investments.

Strengthening cyber security infrastructure, a recent addition to the framework of industrial services, will be vital for the uptake of IoIT-based modules. Innovations in investigation, threat detection and self-aware platforms will be critical.

"Overall, solution providers will be rated on one of two factors," stated Shivaswamy. "Customisation of service models to match the needs of end users or the capability to migrate to a different service model in alignment with a new end-user process, product or solution."

This article has been extracted from http://www.prnewswire.co.uk, please click on this link to read the article in full http://www.prnewswire.co.uk/news-releases/big-data-analytics-is-poised-to-change-the-maintenance-services-models-across-the-manufacturing-sector-523209911.html

Montash is a multi-award winning global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP Recruitment, BI & Data Recruitment, Information Security Recruitment, Enterprise Architecture & Strategy Recruitment , Energy Technology Recruitment, Demand IT and Business Engagement Recruitment, Digital and E-commerce Recruitment, Leadership Talent, Infrastructure and Service Delivery Recruitment, Project and Programme Delivery Recruitment.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid management in permanent and contract roles.

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