The Global Predictive Maintenance Market size is expected to reach $12.7 billion by 2025, rising at a market growth of 28.4% CAGR during the forecast period.
Predictive maintenance systems support in the collection of information in relation to the equipment then processes it, and finally, it predicts the failure period. This is helping in avoiding equipment failure and resulting incidents, thus offers asset management. Some of these advantages are additional fuelling towards the adoption of predictive maintenance systems. The predictive maintenance industry needs implementation of large data, internet of things, and analytics. Main worries of end-use industries are for example automotive, manufacturing, oil and gas and rest are to decrease the maintenance cost and asset operation. Execution of predictive maintenance solutions with the help of IoT technologies aids organizations in minimizing the downtime and operations and maintenance cost.
Predictive Maintenance Market Size
The predictive maintenance market is expected to grow at a significant rate over the forecast period, owing to a number of factors including, the increasing use of emerging technologies to gain valuable insights, and growing need to reduce maintenance cost and downtime.
Predictive Maintenance Market Share
Based on Component, the market is segmented into Solution and Services. Solutions are further categorized into Integrated and Standalone. Services are further bifurcated into Integration & Deployment, Advisory & Consulting and Support & Maintenance. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-Sized Enterprises. Based on Deployment Mode, the market is segmented into On Premise and Cloud. Deployment with the help of the cloud grows at a great pace during the stated period. Many vendors in the field of predictive maintenance market provide cloud-based maintenance solutions in attaining the highest profits and efficiently automate the equipment maintenance procedure. The adoption of these cloud-based predictive maintenance solutions is estimated to grow, majorly because of their advantages, like easy maintaining of generated data, effective management, scalability, and cost-effectiveness.
KBV Cardinal Matrix
Based on End User, the market is segmented into Government & Defense, Healthcare & Life Sciences, Energy & Utilities, Media & Telecom, Manufacturing, Transportation & Logistics and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific and LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, SAP SE, Software AG, Schneider Electric SE, General Electric (GE), Hitachi, Ltd., PTC, Inc., TIBCO Software, Inc. and Uptake Technologies, Inc. Based on the Analysis presented in the Cardinal matrix, IBM Corporation, General Electric and Microsoft Corporation are some of the forerunners in the Predictive Maintenance market.
Market Segmentation:
By Component
By Organization Size
By Deployment Mode
By End User
By Geography
Companies Profiled
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