18DCC003J- DESIGN

TECHNOLOGY

Problem Statement
Develop an AI-driven predictive maintenance system tailored for manufacturing
processes to anticipate equipment failures, thereby optimizing maintenance
schedules and enhancing operational efficiency.

Survey Report
In recent years, there has been a growing recognition of the importance of AI-driven
predictive maintenance in the manufacturing sector. This shift is driven by the need to
minimize downtime, optimize maintenance schedules, and improve overall equipment
efficiency. According to a survey conducted by McKinsey, 27% of companies
expressed a strong interest in adopting AI-driven solutions to address these
challenges.
Key Findings:

Adoption of AI-Driven Predictive Maintenance:

o 27% of surveyed manufacturing companies indicated a desire to continue

implementing AI-driven solutions
o Respondents cited the potential benefits of AI-driven predictive maintenance,
including reduced downtime, lower maintenance costs, and improved operational
efficiency.

Challenges with Traditional Maintenance Approaches:

o Many manufacturing companies highlighted limitations with traditional

maintenance approaches, such as scheduled inspections and reactive responses to
equipment failures.
o These approaches often result in inefficiencies, increased costs, and disruptions to
production schedules.

McKinsey Report Findings:

o According to a recent report by McKinsey & Company, the implementation of AI-

driven solutions in maintenance operations can lead to significant cost reductions.
o McKinsey found that companies leveraging AI-driven predictive maintenance
experienced an average of 41% reduction in maintenance costs compared to those
relying solely on traditional approaches.

Problem Statement and Market Size validation

To validate the statement regarding the adoption of AI-driven predictive maintenance
systems in manufacturing and estimate the market size, the following methods can be
employed:
 Market Research Surveys: Conduct targeted surveys among manufacturing
companies to gather data on the adoption of predictive maintenance
technologies, including AI-driven systems. Validate the findings by comparing
them with existing industry reports and studies.
 Case Studies and Interviews: Collect case studies and conduct interviews with
companies that have implemented AI-driven predictive maintenance systems.
Gather insights into their experiences, challenges faced, and benefits realized to
validate the statement.
 Data Analysis: Analyze publicly available data, such as industry reports,
market research publications, and company financial statements, to track trends
in predictive maintenance adoption and estimate market size.
 Expert Consultations: Consult industry experts, analysts, and practitioners
specializing in predictive maintenance and manufacturing to validate the
statement and gain additional insights into market dynamics.

To estimate the market size for AI-driven predictive maintenance systems in

manufacturing, the following approaches can be utilized:
 Top-Down Approach: Start with macro-level industry data, such as the total
revenue of the manufacturing sector or the expenditure on maintenance and
repair activities. Apply market share estimates based on industry trends,
adoption rates, and competitive analysis to estimate the addressable market size
for AI-driven predictive maintenance solutions.
 Segmentation Analysis: Segment the market based on factors such as industry
verticals, company sizes, geographical regions, and types of equipment.
Estimate the market size for each segment separately and then aggregate to
determine the overall market size.
 Comparative Analysis: Compare the adoption rates and market sizes of AI-
driven predictive maintenance solutions in manufacturing with other related
markets, such as industrial IoT, asset management software, or predictive
analytics. Use comparative data to extrapolate the potential market size for
predictive maintenance solutions.
 Overview of the Solution
Our AI-driven predictive maintenance optimizes manufacturing by anticipating
equipment failures, reducing downtime, and enhancing efficiency. Through advanced
analytics and real-time monitoring, it empowers proactive maintenance strategies for
maximum reliability and cost savings.

Key Components:
 Data Integration
 Predictive Modeling
 Real-Time Monitoring
 Maintenance Insights
 Workflow Integration
sensor
 Sensory solutions battery

Benefits
 Reduced Downtime Connecting
 Lower Costs to cloud
 Improved Efficiency through wifi
 Enhanced Reliability cloud
 Scalability

Comparing with existing Solutions

AI-Driven Predictive Maintenance:
 Proactive Approach: Anticipates equipment failures before they occur through
advanced analytics and machine learning algorithms.
 Real-Time Monitoring: Continuously analyzes streaming data from equipment
to detect anomalies and deviations in performance.
 Cost Savings: Optimizes maintenance schedules and resource allocation,
leading to lower maintenance costs and reduced downtime.
 Enhanced Efficiency: Improves overall equipment efficiency (OEE) by
minimizing unplanned downtime and maximizing uptime.
 Scalability: Modular architecture allows for easy adaptation to different
manufacturing environments and evolving maintenance needs.
 Sensors- We will add a sensor which is modular i.e. can be fixed anywhere and
it should also be easily integrated there are many competitors in this field but
the main advantage that we have is the modularity that we will provide as other
firms do not provide that.

Traditional Maintenance Approaches:

 Reactive Response: Relies on scheduled inspections or reactive responses to
equipment failures, resulting in downtime and production disruptions.
  Manual Monitoring: Relies on manual inspection and monitoring of equipment
performance, which may not detect issues until they escalate.
 Higher Costs: May lead to higher maintenance costs due to emergency repairs,
spare parts inventory, and labor expenses.
 Reduced Efficiency: Unplanned downtime and delays in maintenance activities
can lead to decreased operational efficiency and productivity.
 Limited Adaptability: Less adaptable to changing manufacturing environments
and may not leverage the latest advancements in technology.

Agenda/Work split up
Vraj Shah- Data Analysis, Making sure data is properly collected.
Uthayan A- Web Development, Making sure data is properly collected.

About the company

Company Name: PrognosisTech

Mission: To revolutionize maintenance practices in manufacturing through cutting-

edge AI-driven predictive maintenance solutions, empowering businesses to optimize
operations, reduce costs, and maximize equipment reliability.