DUBLIN, Jan. 28, 2022 /PRNewswire/ -- The "Global Predictive Maintenance Market, By Component (Service, Solution), By Testing Type (Vibration Analysis, Power System Assessment, Others), By Deployment, By Organization Size, By End User, By Region, Competition Forecast and Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Predictive Maintenance Market was valued at USD4.270 billion in 2020 and is projected to grow with a CAGR of 31.85% to reach USD22.429 billion by 2026.
Growing development in the transportation and logistics industry, implementation of stringent safety norms by leading authorities and growing use of advanced technologies by manufacturing industries to increase quality and reduce downtime are the primary factors driving the growth of the Global Predictive Maintenance Market for the forecast period.
Digitalization of the manufacturing industries and the transformation to Industry 4.0 to enhance the volume productivity is supporting the growth of the Global Predictive Maintenance Market. Implementation of predictive maintenance in industries to detect the potential issues at early stages to lower the chances of equipment failure makes the manufacturing process smooth. Predictive maintenance helps in planning the repair schedule in manufacturing industries that improves the utilization of resources. Companies are making use of machine learning and artificial intelligence technology to achieve a higher degree of accuracy, precision, and speed over the conventional business tools to analyze the IoT data. Predictive maintenance helps generate real-time data by continuous monitoring by taking the inputs from sensors and actuators, which help the organizations take quick actions. However, higher upfront costs and rising data security and privacy concerns may hinder the growth of the Global Predictive Maintenance Market in the forecast period.
The Global Predictive Maintenance Market is divided into component, testing type, deployment, organization size, end-user, regional distribution, and competitive landscape. Based on the regional analysis, North America is expected to hold the major market share in the forecast period, 2022-2026. Increasing government support for regulatory compliance, growing presence of the market players and high-end investments by organizations for the adoption of advanced technologies like the Internet of Things, machine learning and artificial intelligence are supporting the growth of the Global Predictive Maintenance Market in the forecast period.
Schneider Electric SE, Hitachi Technologies Co Ltd, IBM Corp., Siemens AG, Bosch Software Innovations GmbH, Microsoft Corporation, TIBCO Software Inc., C3 Inc., SAP SE, Software AG, PTC Inc., General Electric Company, etc. are some of the major players operating in the Global Predictive Maintenance Market.
Objective of the Study:
To analyze the historical growth in the market size of the Global Predictive Maintenance Market from 2016 to 2020.
To estimate and forecast the market size of the Global Predictive Maintenance Market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the Global Predictive Maintenance Market based on component, testing type, deployment, organization size, end-user, regional distribution, and competitive landscape.
To identify the dominant region or segment in the Global Predictive Maintenance Market.
To identify drivers and challenges for the Global Predictive Maintenance Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Predictive Maintenance Market.
To identify and analyze the profiles of leading players operating in the Global Predictive Maintenance Market.
To identify key sustainable strategies adopted by the market players in the Global Predictive Maintenance Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Predictive Maintenance Market
4. Executive Summary
5. Voice of Customer
5.1. Predictive Maintenance Usage Percent Share, By Component of Industrial Asset
5.2. Predictive Maintenance Usage Percent Share, By Component of Deployment
5.3. Satisfaction Score - Existing Predictive Maintenance Software
5.4. Percent Usage Share, By Component of Predictive Maintenance Software
6. Global Predictive Maintenance Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Component (Service, Solution)
6.2.2. By Testing Type (Vibration Analysis, Power System Assessment, Infrared Thermal Inspection, Insulating Fluid Analysis, Circuit Monitoring Analysis, Automotive, Retail and Ecommerce, Others)
6.2.3. By Deployment (On-Premise, Cloud)
6.2.4. By Organization Size (SME, Large Enterprise)
6.2.5. By End User (Aerospace and Defense, Energy and Infrastructure, Logistics & Transportation, Manufacturing, Oil and Gas, Automotive, Retail and Ecommerce, Others)
6.2.6. By Company (2020)
6.2.7. By Region
6.3. Market Map
7. North America Predictive Maintenance Market Outlook
8. Europe Predictive Maintenance Market Outlook
9. Asia-Pacific Predictive Maintenance Market Outlook
10. Middle East and Africa Predictive Maintenance Market Outlook
11. South America Predictive Maintenance Market Outlook
12. Market Dynamics
13. Market Trends and Developments
14. Competitive Landscape
14.1. Schneider Electric SE
14.2. Hitachi Technologies Co Ltd
14.3. IBM Corporation
14.4. Siemens AG
14.5. Bosch Software Innovations GmbH
14.6. Microsoft Corporation
14.7. TIBCO Software Inc.
14.8. C3 Inc.
14.9. SAP SE
14.10. Software AG
14.11. PTC Inc.
14.12. General Electric Company
14.13. Rockwell Automation Inc.
14.14. Honeywell International Inc.
14.15. Fujitsu Ltd
15. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/xxbby1
Research and Markets
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SOURCE Research and Markets