ThyssenKrupp cuts lift downtime with MAX powered by Microsoft Azure IoT
ThyssenKrupp Elevator has announced a collaboration with Microsoft in order to improve lift maintenance and ensure a drastic reduction in downtime.
The predictive and pre-emptive service solution, known as MAX, is powered by Microsoft Azure IoT technology and involves the real-time aggregation of data in the Azure cloud platform, where the lifetime of lift systems and components is determined via an algorithm.
As a result, service technicians gain real-time insight on repairs and component replacements, ensuring proactive system maintenance. ThyssenKrupp Elevator aims to use MAX to improve the end-user experience by bringing about a 50% reduction in unavailability periods; thereby making sure people will wait less for elevators.
The opportunity in the lift business is being driven by urbanisation, with 70% of the global population expected to live in cities by the end of this century. By 2025, it is estimated that an additional 85% of the existing urban floor space will require development, with the demand for maintenance of elevators expected to grow by a similar percentage. By 2020, global demand for elevator equipment and services is forecast to grow 4% on an annual basis to €61 billion (£43.87bn), with the maintenance service business valued at close to 50% of the total.
ThyssenKrupp Elevator is planning to launch MAX over an 18-month period, aiming to connect approximately 180,000 units in North America and Europe. Initially, the solution will be trialed in the US, Germany, and Spain. Other important countries in Europe, Asia and South America will follow soon.
The solution will be available on all continents in two years, connected to approximately 80% of all elevators across the globe.
Interested in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more.
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