Predictive Maintenance Market By Component (Solutions and Services), By Deployment Model (On-premise and Cloud), By Vertical (Manufacturing, Healthcare, Government, Transportation & logistics, and Others (Automotive and Aerospace and Defence)), and By Region - Trends, Analysis and Forecast till 2030

Predictive Maintenance Market accounted for USD 3.19 Billion in 2020 and is estimated to be USD 40.91 Billion by 2030 and is anticipated to register a CAGR of 28.5%.

Predictive maintenance (PdM) is special technique designed in order to help the end users to estimate need of equipment maintenance, before its failure. Predictive maintenance requires extremely skilled and experienced workers to accurately operate condition of equipment monitoring data. Predictive maintenance offers various advantages such as, increased plant safety and equipment lifetime, optimized handling of spare parts, and lesser number of accidents with negative impact on environment. The main purpose of predictive maintenance is to prevent unexpected failures of the equipment’s by providing right information in correct time. It requires skilled workers to operate condition of equipment monitoring data. Predictive maintenance used to increase safety of the plant as well as equipment. It offers advantage of lesser number of accidents with negative impact on environment.

Significant decrease in the operation and maintenance cost, across the globe particularly in developing countries is primary factor expected to drive growth of the global predictive maintenance market over the forecast period. In addition, increasing need for the transforming maintenance, coupled with rising concepts such as the Internet of Things (IoT) across the globe are major factors expected to boost growth of the target market over the forecast period. In order to gain competitive edge to support growth of the global predictive maintenance market, key players operating in the market are focusing on reduction of the operational cost.

However, lack of skilled operators is a key factor restraining growth of the global predictive maintenance market in the near future.

The predictive maintenance market is segmented based on component, deployment model, vertical, and region.

The component segment includes solutions and services. The deployment model segment is further sub segmented into on-premise and cloud. On the basis of vertical the global predictive maintenance market has been segmented as manufacturing, healthcare, government, transportation & logistics, and others. Others segment includes automotive and aerospace & defence.

Regional Insights:

On region the global predictive maintenance market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to account for major revenue share in global predictive maintenance market, followed by markets in another region. Presence of large number of solution as well as service vendors, particularly in countries such as U.S. and Canada are a key factor expected to support growth of the North America market over the forecast period. Asia Pacific predictive maintenance market accounted for second-highest market share, owing to technological advancements, coupled with the expansion of internet connectivity in the countries especially in China and India of this region. The market in Europe is expected to grow at significant pace over the forecast period.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global predictive maintenance market report based on component, deployment model, vertical, and region.

Predictive Maintenance Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating in the global predictive maintenance market includes Augury Systems, Bosch Software Innovations GmbH, Dell, Inc., Fluke Corporation, General Electric Company, Hitachi, Ltd., Honeywell International, Inc., IBM Corporation, PTC., Inc., Rapidminer, Inc., Rockwell Automation, Inc., and SAP SE. Strategic partnerships is a key trend witnessed in the global predictive maintenance market.

• Augury Systems
• Bosch Software Innovations GmbH
• Dell, Inc.
• Fluke Corporation
• General Electric Company
• Hitachi, Ltd.
• Honeywell International, Inc.
• IBM Corporation
• PTC, Inc.
• Rapidminer, Inc.
• Rockwell Automation, Inc.
• SAP SE