RVmagnetics is R&D company that developed the smallest passive sensor in the world based on MicroWire.
Interview with Tigran Hovhannisyan, Key Account Manager at RVmagnetics.
Price: tell us something about the costs from a ROI perspective?
Tigran Hovhannisyan: Long and valuable conversations with customers of sensors, makes it clear that if we were to generalize, the energy harvesting sensors would be the clear ROI lead, whereas the article categorizes sensors into three groups based on their power sources: battery-powered, plug-in, and energy harvesting. It compares the costs and operational efficiency of each type over a 10-year period for 100 sensors.
1. Battery-powered sensors: These sensors require continuous maintenance and periodic battery replacements.
- Average cost: €300 each.
- Initial purchase for 100 sensors: €30,000.
- Batteries need replacement every 2 years on average.
- Replacement batteries estimated at €25 each.
- Ongoing maintenance cost: €2,500 every 2 years.
- Total additional costs over 10 years: €12,500.
- Additional labor cost due to maintenance requirements xx.
2. Plug-in sensors: These sensors require professional installation and are dependent on electrical infrastructure.
- Average cost: €300 each.
- Initial purchase for 100 sensors: €30,000.
- Installation requires electrical engineers, costing about €2,750 in labor and materials.
- Running costs include electricity consumption estimated at €730 per year for 100 sensors.
- Total running costs over 10 years: €7,300.
- Dependence on available infrastructure and electricity.
3. Energy harvesting sensors: These sensors are self-powered and eliminate the need for installation and maintenance costs.
- Average cost: €250 each.
- Initial purchase for 100 sensors: €25,000.
- No installation or ongoing maintenance costs.
- Self-powered using local energy sources.
- Higher functionality and flexibility, capable of monitoring more metrics and hard-to-access equipment.
If we are to connect this to our, RVmagnetics experience, from an ROI perspective, our MicroWire sensors offer significant value by enabling non-destructive testing and real-time data collection from otherwise inaccessible spaces, thus reducing downtime and maintenance costs, as the data MicroWire can help access gives an earlier, realistic detection of an issue within a material, part, process or a structure. The initial investment is offset by long-term savings in operational efficiency and longevity of assets.
What about the costs for maintenance / future upgrades etc.
T.H: This is in fact a sort of a hidden cost that comes with commonly available sensors – we have often heard the complains of our new customers, regarding their experience related to high maintenance costs of sensors. A research shows that some sensors can take maintenance costs of as much as 80% of the total deployment expenses.
Our sensors are set to require minimal maintenance due to their robust design and high durability. Moreover, a MicroWire sensor able to survive in operation longer than human lifetime: due to the sensor being passive, and always in its natural state – it needs no readjustment of the ways it responds to physical quantities (e.g. temperature, pressure, vibrations, torsion, etc.).
Even if a MicroWire sensor is cut, broken or damaged intentionally – it will still measure, while the sensing system will see that the damage has occurred, and notify the operator.
Quality: tell us something about the quality behind your products / solutions.
T.H: RVmagnetics prides itself on delivering top-quality services. Our MicroWire sensors are the world’s smallest passive sensors, biocompatible due to glass coating, have strong durability in harsh environments (chemical, thermal, humid, dusty, noisy, etc.). They ensure reliable, accurate measurements for various applications in environments where multiple other sensors would not survive.
RVmagnetics in fact provides their proprietary MicroWire sensor technology, they provide not only the design and development of these unique passive sensors, but also, RVmagnetics provides the R&D service to create the end to end solution of MicroWire technology for their customers specific applications.
Characteristics: what important features should clients search and what features do your products / solutions offer?
T.H: Clients and partners, that we have most success with, have been looking for a miniature, contactless method to “mine” physical data from their products (composite materials, manufacturing processes, electric motors, rechargeable batteries, rubbers, etc.). An important aspect for our customer personas is that RVmagnetics MicroWires are mostly useful for issues that have not been tackled yet, thus helping pave the way to novel solutions.
Functionality: tell us something about ease of use, integration with other solutions or other innovative features of your products / solutions?
T.H: Part of the value of our team, is the right-sizing or customisation of our technology to their needs. Should a customer need a system that monitors temperature distribution within carbon fibre composite structure in real time, or one that needs to monitor vibrations within miniature BLDC motors – our approach will be adjusted to the need of the customer, and often the the final beneficiary as well.
This is why our solutions are user-friendly and integrate effortlessly with existing systems. They support non-destructive testing and structural health monitoring, transmitting data through various materials, which is ideal for diverse industries from healthcare all the way to wide array of industrial applications
Comparison: what key features do your products / solutions have compared to others on the market?
T.H: Compared to others on the market, our MicroWire sensors tech offers values that can be found in some forms, with various levels of development and reliability, however, RVmagnetics is the only company that put together the end to end development of our proprietary MicroWire tech and thus offers a combination of unmatched assembly of added values
- Top-tier team from professionals: over 70% of employees in the company are R&D members, most of them with phd. From microwire technology in chemistry, physics, electronics, electromechanics, engineering and industrial design.
- Experience deep-rooted in academia, and highly seasoned in private sector within variety of industries
- Contactless measurements, from otherwise inaccessible environments and spaces
- One miniature interface able to be measuring multiple measurement quantities at the same time,
- Passive, miniature (30-70µm in width, 1-3cm in length) sensor
- Biocompatibility, and resistance to harsh chemical environments (acidic, alkaline, etc.)
- Operating ranges of temperature and pressure,
- Operation in noisy, magnetic environments, etc.
The combination of the added values is what makes our solutions competitive, and why our customers come back to us
Feedback: what was the feedback from clients about your products / solutions?
T.H: Clients have praised our sensors for their innovative features and reliability. They appreciate the reduction in maintenance needs and the improved data accuracy, which enhances operational efficiency.
Some examples can be seen on our website for customer testimonial, for list of partners that trust us, and a lot more.
What purchasing advice do you have for clients in your fields of activity?
T.H: When purchasing wireless sensors to maximise return on investment (ROI), focus on selecting sensors that offer scalability, compatibility, and reliability basing your decision not only on the next year, but the next decade. Surely there are scenarios where RoI can be a tricky metric, especially when it comes to safety solutions. So focus can be also on other then economic metric, e.g. safety.
Assess your specific needs and choose sensors with features tailored to your application, such as what measurements you need, ranges, battery life, and environmental resistance, accuracy and sensitivity.
Prioritise scalable solutions that can grow with your business, ensuring they support future expansion and additional sensor integration without requiring significant overhauls.
There is such thing as “ahead of its time”, thus, make sure the solution you chose is compatible with existing systems and standards to avoid vendor lock-in and facilitate seamless integration with other devices and platforms.
Reliability is crucial; be sure to select sensors from reliable manufacturers and reputable sources, with existing track record and customer support. This will also minimise downtime and maintenance costs.
Total Cost of Ownership (TCO) over a certain period of time, including initial purchase price, installation, and ongoing operational expenses, rather than just the upfront cost – this is what will get you closer to a valid RoI calculation.
The TCO calculation can come in especially handy for cases where revenues cannot be quantified thus the ROI metrics alone aren’t enough.
Plan ahead and implement a comprehensive monitoring and maintenance plan to ensure optimal performance and longevity. This applies both for the purchasing strategy that aims to make the company an early adopter and gain a competitive advantage, as well as for the kind of purchasing strategy which helps the company to play it safe and adopt the novel sensor solution in 5-10 years.
Control based on the analysed data. Analytics and insights provided by the sensors to drive informed decision-making and process improvements are the most valuable and direct demand from sensors, thus, taking this step seriously and properly is a way to close a circle of productive sensor purchase.