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 the 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 the 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 boosts the growth of the
market. Increasing the 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
Geographically, North America region dominates by the largest
market share in the predictive maintenance market due to the adoption of new
technologies and the adoption of automation processes 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 costs 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 the 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 the 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.