In this rapidly changing environment, demand for transforming maintenance and reducing asset downtime are ever increasing. The increasing dependence on internet of things (IoT) and big data are increasing the focus of organizations to cut the operational costs, which is responsible to drive the predictive maintenance market. The predictive maintenance successfully reduces the operational costs.
A need to prevent the occurrence of breakdowns that lead to unplanned downtime of machinery which can be solved by predictive maintenance drives the predictive maintenance market. Observing the current trend and advancements the study indicates a sudden hike in predictive maintenance market. The predictive maintenance has many benefits as ability to maintain the uptime and good performance of the equipment, provide increased operational life and others which boosts the market. Whereas the higher requirement of skilled labor and lack of trust are restraining the Predictive Maintenance market.
The Predictive Maintenance Market is growing rapidly over 27% of CAGR and is expected to reach at USD 6334 million by the end of forecast period.
- IBM (U.S.),
- SAP SE (Germany),
- Software AG (Germany),
- General Electric (U.S.),
- Robert Bosch (Germany),
- Rockwell Automation (U.S.),
- PTC (U.S.),
- Warwick Analytics (U.K.),
- RapidMiner (U.S.),
- Schneider Electric SE (France),
- eMaint Enterprises, LLC (U.S.)
- SKF (Sweden)
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- Predictive maintenance vendors
- Resellers and distributors
- Technology investors
- System Integrators
- Government Organizations
- Research/Consultancy firms
The Predictive Maintenance market has been segmented on the basis of component, technique, deployment and end-user. Looking through the component segment it’s been observed that Support and Maintenance service segment would dominate the Predictive Maintenance Market where as the system integration service and consulting ducts are expected to show a substantial increase in predictive maintenance market. The study reveals that predictive maintenance market is dominated by manufacturing sector. However, considering the deployment segment, the cloud based predictive maintenance shows a significant growth and is expected to show a sudden hike by the forecast period.
Recently, it has been observed that many companies are developing new advancements in predictive maintenance software. Senseye, a software company has launched next generation predictive maintenance software which would provide automated condition monitoring along with Remaining Useful Life analysis.
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Market Research Analysis:
Regional analysis for Predictive Maintenance market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region would account for larger share in Predictive Maintenance market. The study indicates that North America region has high technological developments and high adoption of internet of things (IoT) and big data, this has resulted in the growth of predictive maintenance market in North America region.
The study reveals that Asia-Pacific region is expected to have a significant growth in predictive maintenance market by the forecast period. Asia-Pacific countries like China, India and Korea have high investments for improving efficiency of production assets, which has resulted as the primary growth driver for the Asia-Pacific region.
Access the market data and market information presented through more than 25 market data tables and 25 figures spread over 100 numbers of pages of the project report “Predictive Maintenance Market – Forecast to 2022”
List of Figures
FIGURE 1 Research Network Solution
FIGURE 2 Predective Maintenance Market: By Component (%)
FIGURE 3 Predective Maintenance Market: By Technique (%)
FIGURE 4 Predective Maintenance Market: By Deployment (%)
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