Siemens Digital Industries Acquires Senseye To Offer Next Generation Predictive Maintenance And Asset Performance Solutions To Firms In Diverse Industries

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Siemens Digital Industries Acquires Senseye To Offer Next Generation Predictive Maintenance And Asset Performance Solutions To Firms In Diverse Industries

On 8th June 2022, Siemens Digital Industries, the German headquartered provider of automation and digitization solutions and services for the process and discrete industries announced the acquisition of Senseye, the UK headquartered provider of predictive maintenance software. Founded in 2014, Senseye has since then raised approximately $20 million across various funding rounds. In addition to the UK, Senseye has offices in Germany, Japan, France and USA. Key customers include Alcoa, Nissan and Smurfit Kappa. As of June 1st, 2022 Senseye will be a 100 percent subsidiary of Siemens holdings plc in the UK. Senseye will join Siemens Digital Industries as part of the Customer Services Business Unit.

The global uptake of asset performance management (APM) solutions for monitoring the condition of assets and predicting failure has been driven by cost-cutting programmes, aiming to reduce operational costs as well as optimizing CAPEX for asset replacement based on the asset’s remaining useful life. Recent Verdantix research forecasts the spend on APM solutions to increase from $2.6 billion in 2021 to $4.5 billion in 2026. Senseye and Siemens have had a strategic partnership since 2018. The partnership has enabled Senseye’s predictive maintenance software to be available to firms through the Mindsphere IIoT platform. The acquisition signifies a natural next step to the four-year partnership, and with Senseye’s software as part of its Digital Enterprise portfolio, Siemens aims to offer industrial firms solutions to better understand the condition of assets and therefore improve overall equipment effectiveness (OEE).

In the 2021 Verdantix Operational Excellence global corporate survey, 9% per cent of the 256 operations and maintenance executives mentioned using predictive maintenance software widely across all their facilities, up from 5% in the previous year’s survey, while a further 45% plan new spending on software for asset failure prediction in 2022. Over 80% of respondents also stated minimizing unplanned downtime as an important factor causing their firm to invest in software for industrial asset management over the next two years.

This acquisition will enable firms to access the best of both worlds - Senseye’s AI-based predictive maintenance software with Siemens' technology ecosystem and industry expertise to optimize maintenance and improve asset as well as manufacturing performance.

For more information on asset management technologies such as APM, EAM, predictive maintenance, asset investment planning software and digital twins, go to the Verdantix Operational Excellence research portal.

Kiran is an Industry Analyst in the Verdantix Operational Excellence practice. His current research agenda focusses on emerging solutions and global market trends across the process industries. Prior to joining Verdantix, Kiran worked at Siemens PSE where he gained experience in advanced process modelling and digital twin technologies. Kiran holds a MEng in Chemical Engineering from the University of Nottingham.