The article cited AMA's "Global Predictive Maintenance (PdM) Market Study" explored CAGR of %. According to the report, Emerging demand for cloud-based Predictive Maintenance (PdM) is one of the primary growth factors for the market. Growing the use of emerging technologies to gain valuable insights
is also expected to contribute significantly to the Predictive Maintenance (PdM) market. Overall, Manufacturing
applications of Predictive Maintenance (PdM), and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The , such as , is boosting the Predictive Maintenance (PdM) market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Predictive Maintenance (PdM) market identified that the demand is rising in many different parts of the world as "Real-time condition monitoring to assist in taking prompt actions
". Furthermore, some recent industry insights like "In march 2020 MHS presents an IoT-based prescient upkeep answer for coordination offices. MHS Insights incorporates readings from different information sources with prescient models, recorded readings, and nitty-gritty information on disappointment modes. This offers support associations with exact, condition-put together prescient cautions with respect to possible disappointments, evaluated with a red, yellow, or green degree of criticalness. This proactive upkeep and part substitution proposals come well in front of when alerts would enact in the control room." is constantly making the industry dynamic.
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 (PdM) market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Predictive Maintenance (PdM) market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Predictive Maintenance (PdM) market size is calculated using market estimation process, the Predictive Maintenance (PdM) market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Predictive Maintenance (PdM) market size has been validated using both top-down and bottom-up approaches.