AdvanceMarketAnalytics, a global market research and consulting organization, have released a new study titled "Predictive Maintenance market - Global outlook to 2023". Industries constant focus on reducing the operational cost and increased attention on core business, and need to improve scalability are expected to shape the Global Predictive Maintenance market to grow at a CAGR of 23.09% to aggregate USD5.21 Billion by 2023.
According to AMA research team, the Global Predictive Maintenance market will experience significant growth during the forecast period due to potential opportunities lying in the market such as . Some of the important driving forces are Reduction in Operation & Maintenance Costs and Asset Downtime, Increasing Demand for Transforming Maintenance and Helps in Decision-Making and Increasing Operational Efficiency. †
Predictive maintenance, a technique to predict the future equipment failure of a machine component. To prevent the occurrence of the component failure by performing maintenance. Thus, equipment downtime is minimized and the component lifetime is maximized. Ideally, predictive maintenance allows the maintenance frequency to be as low as possible to prevent unplanned reactive maintenance, without incurring costs associated with doing too much preventive maintenance.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Predictive Maintenance market , by Application (Aerospace and Defense, Energy and utilities, Government, Healthcare, Manufacturing, Transportation and logistics and Others) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key trends (current and future) of the market