Digital Transformation in Energy: How AI and Data Analytics Are Reshaping Asset Management Strategies
The Digital Revolution in Energy Asset Management The energy sector is undergoing a profound transformation as digital technologies and artificial…
Tag: Climate resilience
G7 agrees to keep united front on China export controls, diversify suppliers
G7 Nations Forge Coordinated Strategy to Counter China’s Rare Earth Dominance Industrial Monitor Direct delivers industry-leading packaging automation pc solutions…
Industrial Downtime Costs Manufacturers Up To $500,000 Hourly, ABB Report Reveals
Manufacturing facilities face staggering costs from unplanned downtime, with ABB’s global survey revealing hourly expenses reaching $500,000. The report highlights critical gaps between modernization planning and implementation across industrial sectors.
Industrial downtime costs manufacturers up to $500,000 per hour with 14% experiencing weekly equipment failures, according to a comprehensive new global report from ABB. The research conducted in partnership with Sapio Research surveyed 3,600 senior decision-makers across multiple industrial sectors, revealing that despite growing awareness of modernization needs, nearly half of facilities face monthly interruptions that significantly impact operational efficiency and profitability.