Predictive Maintenance Market

Predictive Maintenance Market

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Raksha

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Raksha Sharma

Vineet

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Vineet Pandey

Shruti

Editor :

Shruti Bhat

The global predictive maintenance market size is expected to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising use of automation to gain precious and insights and growing requirement to reduce cost and downtime.

Predictive Maintenance Market Key Takeaways

Predictive maintenance can be used where significant amount of data is processed in organization and analyzed for deep insights. Plant owners, manufacturers, and operators in the energy company face the common challenge to keep their machinery and other benefit working efficiently. Decreasing equipment/plant downtime, cost of maintenance, time-sensitive patch are the key factors that are highly faced by the plant owners through the operation.

The COVID-19 outbreak has impact customers' behavior and markets and has a substantial influence on societies and economies. With educational offices, institutions, and manufacturing facilities shutting down for an indefinite period, the market was negatively impacted across the globe.

  • Increasing use of emerging automation to get precious insights is estimated to drive the market growth.
  • Rising requirement for solutions to reduce maintenance cost and downtime is spurring the growth of the market.
  • Growing investments in predictive maintenance and rising demand for solutions to extend the lifespan of aging organization machinery are key factors driving the market growth.
  • Expanding adoption of IoT is estimated to spur the growth of the market.

Scope of Predictive Maintenance Market Report

The report on the global predictive maintenance market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Predictive Maintenance Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Solutions (Integrated and Standalone) Deployments (Cloud and On-premise), Services
(Deployment/ Installation, Support & Maintenance, and Training & Consulting), Enterprise Sizes (Small and Medium Enterprises and Large Enterprises), End-users (Aerospace & Defense, Automotive & Transportation, Energy and Utilities, Healthcare, IT & Telecommunication, Manufacturing, Oil & Gas, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

IBM Corporation; Microsoft Corporation; SAP ERP; General Electric Company; Siemens AG; Schneider Electric SE; Software AG; Accenture plc; Honeywell International Inc.; and Cisco Systems, Inc.

Predictive Maintenance Market segment insights

Integrated segment is expected to grow at a rapid pace

Based on solutions, the market is divided into integrated and standalone. The solutions segment is expected to grow at a rapid pace during the forecast period due to rising requirement for customized solutions. However, the standalone segment is anticipated to hold a key share of the market in the coming years owing to increasing demand for application specific solutions from various industry verticals.

Predictive Maintenance Market Solutions

Deployment/installation segment is expected to grow at a rapid pace

On the basis of services, the global predictive maintenance market is segregated into deployment/installation, support & maintenance, and training & consulting. The deployment/installation segment is expected to grow at a rapid pace during the forecast period due to rising demand for service providers that can integrate the latest systems in legacy systems.

The Enterprise Sizes segment is projected to expand at a considerable CAGR during the forecast period

In terms of enterprise sizes, the market is segregated into small and medium enterprises, and large enterprises. The large enterprise segment is projected to expand at a considerable CAGR during the forecast period. On the other hand, the small and medium enterprises segment is anticipated to account for a major market share during the forecast period due to growing adoption of predictive maintenance solutions by small and medium enterprises operating in the manufacturing sector.

On-premise segment is estimated to hold a major market share over the forecast period

Based on deployments, the market is classified as cloud and on-premise. The on-premise segment is estimated to hold a major market share during the forecast period. Increasing data processing and cost-effectiveness extended by cloud models is estimated to spur the market segment. On the other hand, the on-premise segment is anticipated to grow at a steady rate in the projected timeline.

Manufacturing segment is projected to expand at a considerable CAGR

On the basis of end-users, the market is segregated into aerospace & defense, automotive & transportation, energy and utilities, healthcare, it & telecommunication, manufacturing, oil & gas, and others. The manufacturing segment is projected to expand at a high CAGR during the forecast period. However, the energy & utilities segment is anticipated to account for a major market share during the forecast period due to replacement of old components in the energy and utility infrastructure.

North America is anticipated to constitute a key market share

In terms of regions, the global predictive maintenance market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period. The massive investments done by private sectors and public sector for the enhancement of asset maintenance solutions is spurring the regional market. However, the market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to high investments made on emerging technologies such as artificial intelligence, IoT, and machine learning.

Predictive Maintenance Market  Regions

Segments

The global predictive maintenance market has been segmented on the basis of

Solutions

  • Integrated
  • Standalone

Services

  • Deployment/ Installation
  • Support & Maintenance
  • Training & Consulting

Deployments

  • Cloud
  • On-premise

Enterprise Sizes

  • Small and Medium Enterprises
  • Large Enterprises

End-users

  • Aerospace & Defense
  • Automotive & Transportation
  • Energy and Utilities
  • Healthcare
  • IT & Telecommunication
  • Manufacturing
  • Oil & Gas
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • IBM Corporation.
  • Microsoft Corporation.
  • SAP ERP.
  • General Electric Company.
  • Siemens AG.
  • Schneider Electric SE.
  • Software AG.
  • Accenture plc.
  • Honeywell International Inc.
  • Cisco Systems, Inc.

Competitive Landscape

Key players competing in the global predictive maintenance market are IBM Corporation; Microsoft Corporation; SAP ERP; General Electric Company; Siemens AG; Schneider Electric SE; Software AG; Accenture plc; Honeywell International Inc.; and Cisco Systems, Inc.

IBM Company is imaginative contriver of predictive maintenance solution for various company verticals. The company offers solutions for maintaining, performance, monitoring, and optimizing the assets for better utilization.

Predictive Maintenance Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Predictive Maintenance Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Predictive Maintenance Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Predictive Maintenance Market - Supply Chain
  4.5. Global Predictive Maintenance Market Forecast
     4.5.1. Predictive Maintenance Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Predictive Maintenance Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Predictive Maintenance Market Absolute $ Opportunity
5. Global Predictive Maintenance Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Predictive Maintenance Market Size and Volume Forecast by End Users
     5.3.1. Aerospace & Defense
     5.3.2. Automotive & Transportation
     5.3.3. Energy and Utilities
     5.3.4. Healthcare
     5.3.5. IT & Telecommunication
     5.3.6. Manufacturing
     5.3.7. Oil & Gas
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Predictive Maintenance Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Predictive Maintenance Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Predictive Maintenance Demand Share Forecast, 2019-2026
7. North America Predictive Maintenance Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Predictive Maintenance Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Predictive Maintenance Market Size and Volume Forecast by End Users
     7.4.1. Aerospace & Defense
     7.4.2. Automotive & Transportation
     7.4.3. Energy and Utilities
     7.4.4. Healthcare
     7.4.5. IT & Telecommunication
     7.4.6. Manufacturing
     7.4.7. Oil & Gas
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Predictive Maintenance Demand Share Forecast, 2019-2026
8. Latin America Predictive Maintenance Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Predictive Maintenance Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Predictive Maintenance Market Size and Volume Forecast by End Users
     8.4.1. Aerospace & Defense
     8.4.2. Automotive & Transportation
     8.4.3. Energy and Utilities
     8.4.4. Healthcare
     8.4.5. IT & Telecommunication
     8.4.6. Manufacturing
     8.4.7. Oil & Gas
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Predictive Maintenance Demand Share Forecast, 2019-2026
9. Europe Predictive Maintenance Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Predictive Maintenance Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Predictive Maintenance Market Size and Volume Forecast by End Users
     9.4.1. Aerospace & Defense
     9.4.2. Automotive & Transportation
     9.4.3. Energy and Utilities
     9.4.4. Healthcare
     9.4.5. IT & Telecommunication
     9.4.6. Manufacturing
     9.4.7. Oil & Gas
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Predictive Maintenance Demand Share Forecast, 2019-2026
10. Asia Pacific Predictive Maintenance Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Predictive Maintenance Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Predictive Maintenance Market Size and Volume Forecast by End Users
     10.4.1. Aerospace & Defense
     10.4.2. Automotive & Transportation
     10.4.3. Energy and Utilities
     10.4.4. Healthcare
     10.4.5. IT & Telecommunication
     10.4.6. Manufacturing
     10.4.7. Oil & Gas
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Predictive Maintenance Demand Share Forecast, 2019-2026
11. Middle East & Africa Predictive Maintenance Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Predictive Maintenance Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Predictive Maintenance Market Size and Volume Forecast by End Users
     11.4.1. Aerospace & Defense
     11.4.2. Automotive & Transportation
     11.4.3. Energy and Utilities
     11.4.4. Healthcare
     11.4.5. IT & Telecommunication
     11.4.6. Manufacturing
     11.4.7. Oil & Gas
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Predictive Maintenance Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Predictive Maintenance Market: Market Share Analysis
  12.2. Predictive Maintenance Distributors and Customers
  12.3. Predictive Maintenance Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. IBM Corporation.
     12.4.2. Microsoft Corporation.
     12.4.3. SAP ERP.
     12.4.4. General Electric Company.
     12.4.5. Siemens AG.
     12.4.6. Schneider Electric SE.
     12.4.7. Software AG.
     12.4.8. Accenture p

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