Automated Fault Detection and Diagnostic Solutions Market Detailed Analysis and Forecast up to 2030 | TMR Study

Automated fault detection and diagnostics (AFDD) is an automated process, detecting the faults and their causes in physical systems. Automated fault detection and diagnostic solution converts data into actionable insights by analyzing data from systems such as building automation systems to determine operational inefficiencies and energy waste. Over the years, automated fault detection and diagnostics in commercial enterprises has grown exponentially. Automated fault detection and diagnostic. Automated fault detection and diagnostic solutions detect problems, identify root causes, and prioritize findings based on the maintenance severity and the impact on comfort. The automated fault detection and diagnostics solutions market is expanding rapidly with more and more organizations looking to drive value from the HVAC data. There are different approaches to communicate with building automation systems and extract data for fault detection. Automated fault detection and diagnostic solutions provide alerts regarding potential equipment issues. Detecting and fixing equipment problems improves occupant comfort as well as saves energy and operational costs.

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Automatic fault detection and diagnostics solutions identify anomalies in the performance of equipment such as boilers, motors, elevators, exhaust fans, chillers, pumps, etc. Building automation systems monitor and control HVAC and lighting, but are unable to identify faults in these systems. With increasing energy costs, identifying the root cause of mechanical equipment inefficiencies is important to save money. Fault detection and diagnostics solutions use robust algorithms and strong reporting of the automated logic, providing continuous energy savings and enhanced building performance. Demand for saving time and valuable resources drives the automated fault detection and diagnostic solutions market. These automated fault detection and diagnostic solutions are generally integrated with other systems or platforms such as analytics platforms or building automation systems. Automated fault detection and diagnostic solutions provide key performance indicator dashboards to building engineers and property managers. Faults are logged into a database and made available for historical analysis and also the cost for not correcting each fault is calculated to prioritize the tasks. However, automated fault detection and diagnosis depends heavily on input from sensors and in many applications sensor failures are common. Therefore, distinguishing between sensor problems and process problems is a major issue in these applications.

The global automated fault detection and diagnostic solutions market can be segmented based on component, application, end-use industry, and region. In terms of component, the automated fault detection and diagnostic solutions market can be segmented into software and services. Software segment is further divided into on-premise and cloud. Services segment is segregated into managed and professional services. Based on application, the automated fault detection and diagnostic solutions market is segmented into energy savings, rooftop studies, monitoring equipment health, development of performance dashboards, facility management, and others. in terms of end-use industry the automated fault detection and diagnostic solutions market is segmented into building automation, automotive, oil and gas, energy and utilities, and others.

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Based on region, the global automated fault detection and diagnostic solutions market can be categorized into North America, Asia Pacific, Middle East & Africa, South America, and Europe. North America accounts for largest share in the automated fault detection and diagnostic solutions market. The automated fault detection and diagnostic solutions market in North America is mainly driven by the increasing demand for building management solutions.

Key players operating in the global automated fault detection and diagnostic solutions market include Schneider Electric, ICONICS, KGS Buildings, LLC, TMG - Consulting Engineers, Inc., CopperTree Analytics., BuildingIQ, Automated Logic (United Technologies Corp.), Flywheel, Connexx Energy, Inc., IBM Corporation, Yardi Systems, Inc., Tridium, Inc. and EnerNOC ( Enel X North America, Inc.). Players focus on increasing integration capabilities of their solutions with other systems such as building automation systems, SCADA, PLC, etc. Companies are exploring the application reach of fault detection and diagnostic solutions across various industries; hence, the automated fault detection and diagnostic solutions market is expected to see flourishing growth over the forecast period.

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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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