Predictive Maintenance Market Global Demand, Latest Technology to 2030

Posted by Vedika on April 2nd, 2021

The Global Predictive Maintenance Market: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020 – 2030.Growing demand for operational efficiency with reduced cost along with rising need of industrial safety are some of the drivers for the predictive maintenance market growth.

The global predictive maintenance market size was valued at .16 billion in 2019, and is projected to reach .12 billion by 2030, growing at a CAGR of 22.6% from 2020 to 2030.

Predictive Maintenance software helps in tracking the performance of any equipment or machine and highlights maintenance requirements before any failure occurs. Advantages offered by predictive maintenance software such as prolonged service life of components, reduction of spare parts stocks and decrease in the cost of maintenance are expected to boost the market growth during the forecast period. However, the drawbacks such as high cost of installation and misinterpretation of data leading to false requests is hindering the market growth of predictive maintenance.

Access Full Description of this report at:-

https://www.nextmsc.com/report/predictive-maintenance-market

Top Companies: Asystom, C3.ai, Inc., Engineering Consultants Group, Inc., Expert Microsystems, Inc., Fiix Inc., Operational Excellence (OPEX) Group Ltd, Sigma Industrial Precision, Spark Cognition, TIBCO Software Inc., Uptake Technologies Inc, General Electric, Hitachi, Ltd., International Business Machines Corporation (IBM), Microsoft Corporation, PTC Inc and others.

The global predictive maintenance market is segmented into component, deployment model, technique, stakeholder, industry vertical, and region. Based on component, it is bifurcated into solution and service. According to deployment, the market is classified into cloud and on-premise segments. Further, based on technique the market is divided into vibration monitoring, electrical testing, oil analysis, ultrasonic leak detectors, shock pulse, infrared, and others. Based on stakeholder, the predictive maintenance market is segmented into MRO, OEM/ODM, and technology integrators. Based on industry vertical, it is classified into manufacturing, energy & utilities, aerospace & defense, transportation & logistics, government, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and rest of the world (RoW).

North America dominates the global predictive market, followed by Europe. This is due to the underlying factors like the presence of large number of service vendors, technological advancements and better awareness about predictive maintenance.

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

Like it? Share it!


Vedika

About the Author

Vedika
Joined: November 28th, 2020
Articles Posted: 128

More by this author