Predictive Maintenance in the 4th Industrial Revolution: Benefits, Business Opportunities, and Managerial Implications

The emergence of Industry 4.0 enhances the capabilities of predictive maintenance and paves the way for efficient and optimized maintenance operations. Until now, the technical implications of adopting predictive maintenance solutions in Industry 4.0 environments have been reported in various studies. However, the business perspective is usually not considered, although there are significant managerial barriers toward the 4th industrial revolution. In this article, we present the benefits, business opportunities, and managerial implications of predictive maintenance based upon our experience in the design, implementation, and deployment of related solutions.