As industries change rapidly, Equipment as a Service (EaaS) offers an innovative way for industrial companies to increase their production capacity and easily scale by adding new machines. EaaS allows customers to purchase the performance of machines or production systems rather than the machine itself.
HECO partnered with relayr to introduce Apollo, a comprehensive condition-based monitoring solution with a strong focus on asset health monitoring, inspection, and reporting. Inspired by the Greek God of prophecy,
Is there an alternative to the traditional purchase of machines that enables growth and resilience? Subscription-based models, common in the software industry, are now becoming increasingly popular across industries. Equipment as a Service is an example of a subscription business model in which equipment is provided for a fee that includes maintenance and other value-added services.
Used across industries, rotating equipment is mission-critical in manufacturing. From compressors to pumps to motors, plant profitability revolves around equipment productivity. That’s why reliability is essential. Rotating equipment users employ condition monitoring strategies to observe the health of machinery components and keep unexpected breakdowns to a minimum by making repairs or replacements before failures occur.
The adoption of the Internet of Things (IoT) impacts every economic sector – from manufacturing to healthcare, from smart cities to retailers.
What is it about the Industrial Internet of Things that’s so special? The fact that it’s a technological revolution? Or that it brings us closer to the future? Or that it builds a world in which machines can carry out all the tasks humans cannot?