The predictive maintenance industry accounted to USD XX.XX million in 2017 growing at a CAGR of XX.XX% during the forecast period of 2018 to 2025, Globally. Predictive maintenance market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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The aim of predictive maintenance is to first predict when equipment failure might occur, then to take preventive actions by performing maintenance. It involves testing and monitoring machines to predict machine failures. This helps in maximizing device or equipment uptime, enhancing quality. It is widely applicable in government, aerospace and defense, energy and utilities, manufacturing, healthcare, transportation and logistics, and others. Some of the major players of the global predictive maintenance market are
- T-Systems International GmbH
- Bosch Software Innovations
- C3 IoT
- Dell Inc.
- Fluke Corporation
- General Electric
- Hitachi, Ltd.
- Honeywell International Inc.
- IBM Corporation
Others: Rockwell Automation, Inc., SAP SE, SAS Institute, Inc., Schneider Electric, Senseye Ltd, SKF, Software AG, Softweb Solutions Inc., Warwick Analytics and others. Reduction in operation and maintenance costs may act as major driver in the growth of predictive maintenance market. On the other side, lack of proper training about the technology may hamper the market.
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Major Market Drivers & Restraints:
- Reduction in Operation & Maintenance Costs and Asset Downtime
- Increasing Demand for Transforming Maintenance
- Helps in Decision-Making and Increasing Operational Efficiency
- Big Data and IoT Driving the Market
- Lack of Training
- Lack of Trust in Predictive Maintenance Technologies
- The global predictive maintenance market is segmented on the basis of component into solutions, and services. The services segment is further sub segmented into
- System integration
- Maintenance and support
- Consulting services
- On the basis of organization size, the global predictive maintenance market is segmented into
- Large enterprises
- Small and medium-sized enterprises
- On the basis of deployment type, the global predictive maintenance market is segmented into
- On the basis of vertical, the global predictive maintenance market is segmented into
- Aerospace And Defense
- Energy And Utilities
- Transportation And Logistics
- On the basis of geography, the global Predictive Maintenance market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa.
- Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
- North America is expected to dominate the market.
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