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According to the article How Much Money Can Predictive Maintenance Save An Industrial Company?, the main savings from predictive maintenance is the reduction of plant downtime. Now we will see how predictive maintenance reduces plant downtime.
There are two types of plant downtime: planned and unplanned.

Planned downtime refers to scheduled periods when a piece of machinery or equipment is taken offline for maintenance or repair.
Predictive maintenance helps to optimize the timing of planned downtime by providing insights into the condition of the equipment and recommending the best time to perform maintenance and repairs. This can help to minimize the impact of planned downtime on the overall operations of the plant having the certainty of the process reliability.
Unplanned downtime refers to periods when a piece of machinery or equipment fails unexpectedly and must be taken offline for repair. This can be costly for an industrial plant, as it can disrupt operations and lead to lost productivity and revenue.
Predictive maintenance can help to reduce unplanned downtime in these ways:
By using predictive maintenance, an industrial plant can reduce the amount of unplanned downtime and improve its overall operational efficiency.