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Manufacturing companies cite IT security and costs as main barriers to implementing predictive maintenance. (Photo: Fraunhofer IGD)

Most industrial companies believe in a major role for predictive maintenance, but very few have already commissioned projects, according to a new study by BearingPoint.

The consultants found that 84 pc of companies had researched predictive maintenance, but only one in four had actually started implementing it.

According to the survey, 76 pc of executives are getting relevant sensor data and 59 pc are actually analyzing the information obtained. But only 20 pc are using the data to optimize and maintain their factories.

More than half of company executives polled cited IT security as the number one technical obstacle. And 61 pc said the high cost of implementation was a negative factor.

Nevertheless, 80 pc believe predictive maintenance can increase plant and system availability, while 60 pc see strong potential for a drop in servicing and maintenance costs.

In addition, 52 pc of executives interviewed said predictive maintenance could provide opportunities to offer better service models to customers.

"The preconditions are there for a decisive move," BearingPoint's head of manufacturing, Donald Wachs, said in a statement. "But frequently there is a lack of courage to make mistakes and learn from these."