A recent report published by Infinium Global Research on predictive maintenance market provides an in-depth analysis of segments and sub-segments in the global as well as regional predictive maintenance market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional predictive maintenance market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global predictive maintenance market. According to the report, the global predictive maintenance market is projected to grow at a CAGR of 28.34% over the forecast period of 2019-2025.
Predictive maintenance determines the condition of in-service equipment in order to predict to take preventive action by performing maintenance. Predictive maintenance uses technologies such as vibration analysis, infrared, corona detection, acoustic, sound level measurements, oil analysis, and others.
Growing demand for real-time processing data from the machines along with the adoption of the cloud-based solutions in various industries is the driving factor for the growth of the global predictive maintenance market. Increasing adoption of emerging technologies and innovation in various industries software fuels the growth of the global predictive maintenance market. Growing demand to reduce the maintenance cost boost the growth of the market. Increasing adoption of emerging technologies such as IoT and big data fuels the growth of the global predictive maintenance market. On the other hand, lack of skilled labor or expertize may hamper the growth of the global predictive maintenance market. Moreover, increasing adoption of real-time monitoring in various applications creates growth for the global predictive maintenance market.
Geographically, North America region dominates by the largest market share in the predictive maintenance market due to the adoption of new technologies and adoption of automation process in various industries along with high capital investment. In North America, the U.S. dominates the market followed by Canada and Mexico. Asia-Pacific region is expected to boost the growth of the predictive maintenance market in the forecast period. In the Asia-Pacific, China holds the largest market share followed by Japan and India. An increasing trend of predictive maintenance within the Industry 4.0. and demand the real-time processing of the data from the machines that boost the growth of the market in the Asia-Pacific region. Increasing demand for the reduction in operational and maintenance cost led to the growth of the market. In the Asia-Pacific, China holds the highest market share followed by Japan and India.
The report on global predictive maintenance market covers segments such as deployment, component, and end user. On the basis of deployment, the sub-markets include on-premise, and cloud. On the basis of component, the sub-markets include solutions, and services. On the basis of end user, the sub-markets include energy and utilities, transportation, manufacturing, healthcare, and other end users.
The report provides profiles of the companies in the market such as International Business Machines Corporation, SAS Institute Inc., SAP SE, Microsoft Corporation, General Electric Company, TIBCO Software Inc., The Hitachi Consulting Corporation (Hitachi, Ltd.), Robert Bosch Manufacturing Solutions GmbH, Honeywell International Inc., PTC Inc., and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of predictive maintenance market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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