Digitization of industrial production processes allows the introduction of datadriven business models using Cyber Physical Systems (CPS) and Industrial Internet of Things (IIoT). To ensure efficient manufacturing, production systems must be able to communicate and interact with their environment, to monitor wear conditions, and to selfadapt their behavior to a given situation. This article gives an overview about the historical development of intelligent production systems with focus on condition monitoring and predictive maintenance in an availability oriented business model.