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PEM >>
Global Industry Analysts (GIA) announces the release of a comprehensive global report on machine condition-monitoring equipment market. With plant assets increasingly being perceived as "working capital" of an organization, machine condition monitoring continues to assume strategic significance within the manufacturing and process industries.
Increased focus on reducing plant operating costs and growing levels of realization among end-users that machine condition monitoring can actually be a medium to long-term cost saving investment rather than an operating expense, together is forecast to help the market reach US$2.1 billion by the year 2015.
Growth in the world machine condition monitoring equipment market has long been driven by capital investments in industries such as chemicals, petrochemicals, pulp & paper, metals and heavy equipment manufacturing, among others. Condition monitoring has gained importance, over the years, as companies critically focused on asset utilization and productivity. The need for eliminating catastrophic breakdowns and unnecessary maintenance costs in production processes has and will continue to drive the adoption of condition monitoring solutions across several industries.
One of the few industries to flourish in adversity is the machine condition monitoring equipment market. A traditionally resilient vector of the industrial equipment market, machine condition monitoring equipment has recorded hardy growth against a backdrop of increased focus on reducing plant operating costs by reducing maintenance costs, optimizing maintenance activities during planned shutdowns and lowering the instances of unscheduled outages. In addition to rising competition, increasing energy costs and plant maintenance expenditures also eat into corporate bottomlines and machine condition assessment programs help optimize maintenance budgets and ease the pressure on operating expenses. While fall in the business confidence index, tighter lending standards, rising borrowing costs and the resulting shortages in credit availability to finance new plant establishments and upgradations, all resulted in sharp declines in sales
Increased focus on reducing plant operating costs and growing levels of realization among end-users that machine condition monitoring can actually be a medium to long-term cost saving investment rather than an operating expense, together is forecast to help the market reach US$2.1 billion by the year 2015.
Growth in the world machine condition monitoring equipment market has long been driven by capital investments in industries such as chemicals, petrochemicals, pulp & paper, metals and heavy equipment manufacturing, among others. Condition monitoring has gained importance, over the years, as companies critically focused on asset utilization and productivity. The need for eliminating catastrophic breakdowns and unnecessary maintenance costs in production processes has and will continue to drive the adoption of condition monitoring solutions across several industries.
One of the few industries to flourish in adversity is the machine condition monitoring equipment market. A traditionally resilient vector of the industrial equipment market, machine condition monitoring equipment has recorded hardy growth against a backdrop of increased focus on reducing plant operating costs by reducing maintenance costs, optimizing maintenance activities during planned shutdowns and lowering the instances of unscheduled outages. In addition to rising competition, increasing energy costs and plant maintenance expenditures also eat into corporate bottomlines and machine condition assessment programs help optimize maintenance budgets and ease the pressure on operating expenses. While fall in the business confidence index, tighter lending standards, rising borrowing costs and the resulting shortages in credit availability to finance new plant establishments and upgradations, all resulted in sharp declines in sales
PEM >>
GE Intelligent Platforms has completed the acquisition of SmartSignal, a privately-held, analytics software company based in Lisle, Ill. SmartSignal specializes in providing remote monitoring and diagnostics solutions to the power generation, oil & gas and other industrial sectors.
SmartSignal is a provider of predictive diagnostic software and monitoring services used to anticipate, prevent, and avoid equipment failure. The company has more than 40 product and technology patents, and has won more than 25 awards for product excellence.
“The acquisition of SmartSignal shows our commitment to continue investing in GE Intelligent Platforms’ Software & Services business, and will serve as an important catalyst to rapidly expand the capabilities of our Operational Intelligence platform,” said Maryrose Sylvester, president and CEO for GE Intelligent Platforms. “SmartSignal is a recognized leader and innovator with technology that detects looming equipment problems early and with confidence. This acquisition complements GE’s existing capabilities in diagnostics and equipment analytics, and gives us the ability to cover a much wider range of asset types and equipment manufacturers for our customers. ”
“With GE’s commitment to solving difficult challenges in today’s business environment,” said Jim Gagnard, president and CEO of SmartSignal, “we believe our solution can help provide a holistic approach to Operational Intelligence across many industries no matter what type of equipment the customer is trying to manage.”
SmartSignal detects and identifies abnormal equipment behavior and provides exception-based notifications of developing problems along with diagnoses and prioritizations. Its solutions are device-agnostic and are found on equipment from GE, Siemens, Rolls Royce, Alstom, Flowserve, Waukesha, Byron Jackson, Cooper-Bessemer, and others.
www.ge-ip.com
www.smartsignal.com
SmartSignal is a provider of predictive diagnostic software and monitoring services used to anticipate, prevent, and avoid equipment failure. The company has more than 40 product and technology patents, and has won more than 25 awards for product excellence.
“The acquisition of SmartSignal shows our commitment to continue investing in GE Intelligent Platforms’ Software & Services business, and will serve as an important catalyst to rapidly expand the capabilities of our Operational Intelligence platform,” said Maryrose Sylvester, president and CEO for GE Intelligent Platforms. “SmartSignal is a recognized leader and innovator with technology that detects looming equipment problems early and with confidence. This acquisition complements GE’s existing capabilities in diagnostics and equipment analytics, and gives us the ability to cover a much wider range of asset types and equipment manufacturers for our customers. ”
“With GE’s commitment to solving difficult challenges in today’s business environment,” said Jim Gagnard, president and CEO of SmartSignal, “we believe our solution can help provide a holistic approach to Operational Intelligence across many industries no matter what type of equipment the customer is trying to manage.”
SmartSignal detects and identifies abnormal equipment behavior and provides exception-based notifications of developing problems along with diagnoses and prioritizations. Its solutions are device-agnostic and are found on equipment from GE, Siemens, Rolls Royce, Alstom, Flowserve, Waukesha, Byron Jackson, Cooper-Bessemer, and others.
www.ge-ip.com
www.smartsignal.com
NDT News >>
Ian Bell of Bell Rigging chose Cygnus Instruments, the leading manufacturer of multiple echo ultrasonic thickness gauges, to supply the latest Cygnus 2 Hands Free thickness gauge for a mast survey of this historic vessel.
NDT News >>
TWI Training & Examination Services has recently conducted a skills analysis of the roles and duties of the NDT/Rope Access Inspector employed within the UK oil and gas sector. Its findings were discussed with NDT contracting companies and oil company representatives.
Following the success of MAINTAIN 2010, Messe München has some big plans between now and the next exhibition in 2012.
GAMBICA, the UK-based organisation which represents the instrumentation, control, automation and laboratory technology industry, has announced the appointment of Dr Graeme Philp as its new Chief Executive. Dr Philp takes over from Geoff Young, who led the organisation for 25 years and who is retiring.
