Hitachi Energy launches the next generation of its asset performance management solution

Global technology company Hitachi Energy has announced the next generation of its asset performance management (APM) software, Lumada APM, expanded with two additional modules - Lumada APM reliability and Lumada APM optimisation.  
Hitachi Energy launches the next generation of its asset performance management solution
Courtesy of Hitachi Energy.

Lumada APM solution advances sustainability, safety, and operational excellence initiatives, equipping asset-intensive organisations with a unified view of their assets and asset systems. With that insight, they can further maximise asset uptime, minimise unplanned downtime, prioritise maintenance spend, extend asset life, and reduce total cost of ownership.

The software empowers engineers to take a strategic and proactive approach to a reliability-centred asset maintenance strategy. It delivers prescriptive, data-based insights and recommendations for proactive maintenance and planning utilising a broad range of physics-, statistical-, artificial intelligence-, and hybrid-based modeling methodologies, so organisations can maximise their time and budgets. Additionally, Lumada APM provides a single pane of glass for evaluating system and fleet risks of potential asset failures before they occur, simulate intervention strategies, and optimise portfolio resources to balance desired asset performance, risk, and cost.

Hitachi Energy’s APM modules include:

Lumada APM health: Allows operators to monitor the condition and predict the failure of their critical assets, early enough to take actions using data-driven modeling and artificial intelligence-powered prognostics, and make timely, proactive maintenance decisions. 

Lumada APM reliability: Enables users to implement system reliability engineering methodologies to drive safe, reliable, and compliant operations. Dynamically assesses risks and simulates various asset intervention scenarios so that engineers can drive risk-based, reliability-centred maintenance and prioritise overall maintenance spend.

Lumada APM optimisation: Provides asset managers with an optimised list of asset intervention projects based on identified constraints to deliver financially optimised, long-term asset investment planning strategies.

“For organisations in asset-intensive industries, the availability and reliability of capital assets are constant concerns that create significant data management and operational challenges” said Bryan Friehauf, SVP Enterprise Software Solutions, Hitachi Energy. “The newest generation of Lumada APM provides users with expanded critical decision support to be more proactive, anticipate trends, pinpoint system risks, and prioritise capex and opex budget and resources to maximise asset reliability and availability.”

Hitachi Energy’s move to expand its APM solution coincides with the APM market’s rapid growth as asset-intensive organisations take on digital transformation initiatives to meet global energy transition goals. 

Research indicates that the APM market is expected to grow more than 120 percent worldwide to $47 billion from 2023 to 2030. In the mining industry, for example, nearly half of organisations plan to adopt APM platforms by the end of 2023, an increase of 25 percent from 2021.

Data-driven, advanced APM solutions quantify hidden expenses and uncover insights about asset stressors and system bottlenecks where asset downtime or failure could have greater downstream impacts.

For additional information:

Hitachi Energy

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