Generally, most of the nation’s implement analytical upkeep for situation-checking to gauge an asset’s performance in real time. Nevertheless, advanced methods are significantly used in developed economies such as the US, few states in Western European, and few established economies of Asia-Pacific and the Middle East region. The key element of an advanced process is the Internet of Things (IoT) technology that allows different assets and systems to connect, work cooperatively, share, analyze, and act on the data. IoT relies on predictive protection sensors to capture information, analyze it, and identify any areas that need immediate attention. In October 2018, Hitachi, Ltd launched an AI-Assisted predictive maintenance service for petrochemical plants to detect real-time operational conditions. This helps petrochemical plants to increase their operational efficiency and maintenance tasks. Predictive maintenance (PdM) is a maintenance strategy driven by predictive analytics technology. The solutions are installed to monitor and detect failures or anomalies in equipment but are engaged only upon the possibility of critical failure.
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Major Key Players
The projected onlookers in the predictive maintenance (PdM) market are companies like IBM Corporation (US), Axiomtek Co. Ltd (Taiwan), Oracle Corporation (US), Microsoft Corporation (US), XMPro (US), Hitachi, Ltd (Japan), SAP SE (Germany), Comtrade (Ireland), C3 IoT (US), Software AG (Germany) and RapidMiner (US).
The market overview along with the product definition are given by the reports on the Predictive Maintenance (PdM)market provides valuable information regarding the market profile. The information regarding the key manufacturing technology and other important market factors have been used to study the growth of the Predictive Maintenance (PdM)market. To help in the study, the data has been classified based on the different market segments. The key sectors in this market based on the market share and growth rates have been identified for the period 2019-2025. The market data collected has been used for the forecast. The business data regarding the production, revenue, and sales of the key players during the past years has also been provided.
Drivers & Constraints
The Predictive Maintenance (PdM)market has been extensively studied regarding the key factors influencing the market. The major market drivers that will augment the market growth in the coming years have been studied. The industry-specific risks and challenges that may be detrimental in varying capacities have also been listed out to give an all-round study of the market. The other socio-economic factors that affect the market such as disposable income and living standards have also been covered. The other market opportunities in terms of the key growth sectors and market investment opportunities have been presented in this report.
The market segmentation also covers key regions in the global Predictive Maintenance (PdM)market based on the geographic segments. The current scenario and market development status for these regional markets have been provided in the report. The regional analysis covers the competitive strategies and other developments. The market competitive landscape has been analyzed with the profiles on the key players operational in each of the regions. This section also covers the product launches in various regional markets, mergers and acquisitions that may impact the global Predictive Maintenance (PdM)market. The future prospects and forecast in terms of market size has also been provided.
Method of Research
The report on the Predictive Maintenance (PdM)market provides a qualitative and quantitative assessment of the overall market. Porter’s Five Forces model has been used by a team of analysts to provide the study with a comprehensive analysis of the various market factors. The parameters used for the analysis have been derived using the inputs from industry experts and participants. The report also presents a study on the industry value chain at a global level. The report also provides an in-depth analysis of Predictive Maintenance (PdM)market trends.
The macro-economic indicators and other governing factors along with market opportunities based on the segmentation have been provided. Both primary and secondary research methods based on the collected data has been done. A SWOT analysis covering the key players in terms of their strengths, opportunities, weaknesses, and threats has been used in the industry analysis. Looking at the market from a futuristic perspective, the Predictive Maintenance (PdM)market research studies the industry trends, with an outlook of high-growth segments, and industry challenges and opportunities.
Table of Contents – Major Key Points
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Insights
5 Market Dynamics
6 Market Factor Analysis
7 Global Predictive Maintenance (PdM) Market, by Component
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