Predictive Maintenance Market Scope
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 market study is being classified, by Application (Aerospace and Defense, Energy and utilities, Government, Healthcare, Manufacturing, Transportation and logistics and Others) and major geographies with country level break-up. According to AMA, the Global Predictive Maintenance market is expected to see growth rate of 23.09% and may see market size of USD5.21 Billion by 2023.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Predictive Maintenance market throughout the predicted period.
IBM (United States), SAP SE (Germany), Software AG (Germany), General Electric (United States), Robert Bosch (Germany), PTC Inc. (United States), Rockwell Automation (United States), PTC (United States), SAS Institute (United States), T-Systems (Germany) and Warwick Analytics (United Kingdom) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Honeywell (United States), Dell (United States), RapidMiner (United States), Hitachi, Ltd. (Japan) and SKF (Sweden).
AdvanceMarketAnalytics has segmented the market of Global Predictive Maintenance market by Type, Application and Region.
On the basis of geography, the market of Predictive Maintenance has been segmented into 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). If we see Market by Deployment Mode, the sub-segment i.e. On Premises will boost the Predictive Maintenance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. Small and Medium-Sized Enterprises will boost the Predictive Maintenance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component Type, the sub-segment i.e. Solutions (Standalone and Integrated Solutions) will boost the Predictive Maintenance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rapid Deployment of Big Data and IoT Technology
- Reduction in Operation & Maintenance Costs and Asset Downtime
- Increasing Demand for Transforming Maintenance
- Helps in Decision-Making and Increasing Operational Efficiency
- Increasing Demand for Real-Time Streaming Analytics
- Surging Demand From Small and Medium Enterprises in both Developed and Developing Economies
- Lack of Proper Training in Developing Countries
- Lack of Trust in Predictive Maintenance Technologies
- Predictive Maintenance May Not Be Considered as an Integral Part of the Overall Maintenance Process
- Adequate and Structured Data Collection
Key Target AudiencePredictive Maintenance Vendors, System Integrator, Consulting Firms, Resellers and Distributors, Technology Partners and Others
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase