● Senseye study of major industrial firms finds that large facilities lose 27 hours a month to machine failures, on average, at the cost of $532,000 for each hour of unplanned downtime
● Losses are estimated to total 3.3 million production hours, worth $864 billion per year across Fortune Global 500 industrial companies
Southampton, UK, 28 June 2021: Large industrial facilities lose more than a day’s worth of production each month and hundreds of millions of dollars a year to machine failures, according to a new report published today by Senseye, the AI-powered machine health management company.
The True Cost Of Downtime report shares findings from a study of 72 major multinational industrial and manufacturing companies. It reveals that, on average, large plants lose 323 production...