Predictive Maintenance Market Status (2017-2021) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2022-2028
Report Description
The global Predictive Maintenance market size is estimated at USD 3,800.5 million in 2021, expanding at a CAGR of 28.3% from 2022 to 2028 to reach 16,704.1 million USD in 2028.
Market Dynamics
Predictive maintenance services are in high demand throughout several industrial sectors, including manufacturing, healthcare, and aviation Machinery makers, managers, and facility owners in the power and electricity sectors frequently confront issues with the effective operation of their gear as well as other resources. The predictive maintenance technologies assist the facility operators to organize a service schedule without any possibility of breakdowns. Likewise, in the industrial business, it is highly vital to detect the reasons for errors and probable flaws prior to their existence. As a result, firms are more efficiently using predictive maintenance tools and solutions to enhance machinery availability by pre-emptively identifying possible faults in real-time while disrupting the incremental trend
Furthermore, increased expenditures in predictive upkeep to increase the lifetime of aged industrial gear are fuelling market expansion globally. Furthermore, the increasing need for predictive upkeep to monitor remote functioning and asset administration presents attractive growth prospects for sector entrepreneurs and leading industry competitors. Furthermore, the increased use of predictive upkeep in tomography, X-ray, and mammography to enhance decision-making skills and operating advantages is favorably impacting the industry. Furthermore from this, the rising implementation of real-time streamed analytic software in numerous companies to handle and evaluate datasets constantly is fuelling the development of the industry.
Regional Insights
The Predictive Maintenance Industry was led by North America, trailed by Europe as well as APAC. Countries like the United States and Canada have a significant impact on the business of North America. The rising technical improvements in the area are key drivers encouraging the development of the predictive maintenance industry in North America. The increasing presence of predictive maintenance companies across geographies is projected to fuel industry expansion considerably.
Europe is expected to hold a second leading position in the market and is expected to grow at a remarkable CAGR till 2026. The demand for predictive maintenance technologies is expanding in Europe as a result of increased corporate investments and understanding of the value of predictive maintenance solutions in gaining a competitive edge.
Segment Dynamics
The Predictive Maintenance market is fragmented into the Component, Deployment, Enterprise Sizes, and end-user segments. Based on the Deployment, the on-premise segment is anticipated to dominate the market. By Enterprise Size, the large enterprise segment is projected to grow at the highest CAGR during the forecast period. By end-user, the manufacturing segment is expected to hold the majority of the market share.
Competitive Insights
To expand their services in the market, predictive maintenance suppliers have employed a variety of organic and inorganic development tactics, including new product releases, product upgrades, collaborations and alliances, organizational extensions, and m&a. PTC will release the advanced ThingWorx 9.O Industrial IoT platform in June 2020 to improve scalability, improve solution creation, and increase OPC UA support for business implementations. This will enable the firm to expand its product variety and better satisfy the changing demands of consumers.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses the market size and forecast of Predictive Maintenance by component, deployment, end-user, region, and Enterprise Size. In addition, this report introduces the market competition situation among the vendors, and the company profile, besides, market price analysis, and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):
- Asystom GmbH
- C3.Ai, Inc.
- Engineering Consultants Group, Inc.
- Expert Microsystems, Inc.
- Fiix Inc.
- General Electric
- Hitachi, Ltd.
- International Business Machines Corporation
- Microsoft Corporation
- Microsoft Corporation
- Operational Excellence (Opex) Group Ltd
- Ptc Inc.
- Reliability Solutions Sp. Z O.O
- Sap
- Sas Institute Inc.
- Schneider Electric Se
- Sigma Industrial Precision
- Software Ag
- Sparkcognition
- Tibco Software Inc
- Uptake Technologies Inc.
Deployment Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- On-premise
- Cloud
Enterprise Size Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- SME
- Large Enterprise
End-User Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Government and Defense
- Transportation and Logistics
- Manufacturing
- Energy and Utilities
- Healthcare and Life Sciences
Component Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Solution
- Service
Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain, etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina, etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)
Table Of Content
1. Predictive Maintenance Market Overview
1.1. Product Overview and Scope of Predictive Maintenance
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Predictive Maintenance Market Size Growth Rate Analysis by Component 2021 VS 2028
1.3.1. Solution
1.3.2. Service
1.4. Global Predictive Maintenance Consumption Comparison by Enterprise Size: 2021 VS 2028
1.4.1. SME
1.4.2. Large Enterprise
1.5. Global Predictive Maintenance Consumption Comparison by Deployment: 2021 VS 2028
1.5.1. On Premise
1.5.2. Cloud
1.6. Global Predictive Maintenance Consumption Comparison by End User: 2021 VS 2028
1.6.1. Government and Defense
1.6.2. Transportation and Logistics
1.6.3. Manufacturing
1.6.4. Energy and Utilities
1.6.5. Healthcare and Life Sciences
1.7. Global Predictive Maintenance Market Size Estimates and Forecasts by Region: 2021 VS 2028
1.7.1. North America Predictive Maintenance Estimates
1.7.2. Europe Predictive Maintenance Estimates
1.7.3. China Predictive Maintenance Estimates
1.7.4. Japan Predictive Maintenance Estimates
2. Market Competition by Manufacturers
2.1. Global Predictive Maintenance Revenue Market Share by Manufacturers (2020)
2.2. Predictive Maintenance Market Share by Company Deployment (Tier 1, Tier 2 and Tier 3)
2.3. Global Predictive Maintenance Average Price by Manufacturers (2017-2021)
2.4. Manufacturers Predictive Maintenance Production Sites, Area Served, Product Types
2.5. Predictive Maintenance Market Competitive Situation and Trends
2.5.1. Predictive Maintenance Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Predictive Maintenance Consumption by Region (2017-2021)
3.1. Global Predictive Maintenance Consumption by Region
3.2. Global Predictive Maintenance Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Predictive Maintenance Consumption Growth Rate (2017-2021)
3.2.3. North America Predictive Maintenance Consumption, Price and Gross Margin (2017-2021)
3.2.4. North America Predictive Maintenance Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Predictive Maintenance Consumption Growth Rate (2017-2021)
3.2.7. Europe Predictive Maintenance Consumption, Price and Gross Margin (2017-2021)
3.2.8. Europe Predictive Maintenance Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Predictive Maintenance Consumption Growth Rate (2017-2021)
3.2.11. Asia Pacific Predictive Maintenance Consumption, Price and Gross Margin (2017-2021)
3.2.12. Asia Pacific Predictive Maintenance Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Predictive Maintenance Consumption Growth Rate (2017-2021)
3.2.15. South America Predictive Maintenance Consumption, Price and Gross Margin (2017-2021)
3.2.16. South America Predictive Maintenance Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Predictive Maintenance Consumption Growth Rate (2017-2021)
3.2.19. Middle East and Africa Predictive Maintenance Consumption, Price and Gross Margin (2017-2021)
3.2.20. Middle East and Africa Predictive Maintenance Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Predictive Maintenance Consumption by Deployment (2017-2021)
4.1. Global Predictive Maintenance Price by Deployment (2017-2021)
4.2. Global Predictive Maintenance Revenue Market Share by Deployment (2017-2021)
4.2.1. On-premise
4.2.2. Cloud
5. Global Predictive Maintenance Consumption by Enterprise Size (2017-2021)
5.1. Global Predictive Maintenance Price by Enterprise Size (2017-2021)
5.2. Global Predictive Maintenance Revenue Market Share by Enterprise Size (2017-2021)
5.2.1. SME
5.2.2. Large Enterprise
6. Global Predictive Maintenance Consumption by End User (2017-2021)
6.1. Global Predictive Maintenance Price by End User (2017-2021)
6.2. Global Predictive Maintenance Revenue Market Share by End User (2017-2021)
6.2.1. Government and Defense
6.2.2. Transportation and Logistics
6.2.3. Manufacturing
6.2.4. Energy and Utilities
6.2.5. Healthcare and Life Sciences
7. Global Predictive Maintenance Consumption by Component (2017-2021)
7.1. Global Predictive Maintenance Price by End User (2017-2021)
7.2. Global Predictive Maintenance Revenue Market Share by Component (2017-2021)
7.2.1. Solution
7.2.2. Service
8. Key Companies Profiled
8.1. Asystom GmbH
8.1.1. Asystom GmbH Predictive Maintenance Corporation Information
8.1.2. Asystom GmbH Predictive Maintenance Product Portfolio
8.1.3. Asystom GmbH Predictive Maintenance Consumption, Price and Gross Margin (2017-2021)
8.1.4. Asystom GmbH Main Business and Markets Served
8.1.5. Asystom GmbH Recent Developments/Updates
8.2. C3.Ai, Inc.
8.3. Engineering Consultants Group, Inc.
8.4. Expert Microsystems, Inc.
8.5. Fiix Inc.
8.6. General Electric
8.7. Hitachi, Ltd.
8.8. International Business Machines Corporation
8.9. Microsoft Corporation
8.10. Microsoft Corporation
8.11. Operational Excellence (Opex) Group Ltd
8.12. Ptc Inc.
8.13. Reliability Solutions Sp. Z O.O
8.14. Sap
8.15. Sas Institute Inc.
8.16. Schneider Electric Se
8.17. Sigma Industrial Precision
8.18. Software Ag
8.19. Sparkcognition
8.20. Tibco Software Inc
8.21. Uptake Technologies Inc.
9. Marketing Channel, Distributors and Customers
9.1. Marketing Channel
9.2. Predictive Maintenance Distributors List
9.3. Predictive Maintenance Customers
10. Market Dynamics
10.1. Predictive Maintenance Industry Trends
10.2. Predictive Maintenance Growth Drivers
10.3. Predictive Maintenance Market Challenges
10.4. Predictive Maintenance Market Restraints
11. Global Predictive Maintenance Consumption and Demand Forecast, by Region (2022-2028)
11.1. Global Forecasted Demand Analysis of Predictive Maintenance, by Regions and Country
11.1.1. North America Forecasted Consumption of Predictive Maintenance by Country
11.1.2. Europe Market Forecasted Consumption of Predictive Maintenance by Country
11.1.3. Asia Pacific Market Forecasted Consumption of Predictive Maintenance by Region
11.1.4. Latin America Forecasted Consumption of Predictive Maintenance by Country
11.1.5. Middle East and Africa Forecasted Consumption of Predictive Maintenance by Country
12. Global Predictive Maintenance Consumption and Demand Forecast, by Device Segments (2022-2028)
12.1. Global Forecasted Consumption of Predictive Maintenance by Deployment Segments (2022-2028)
12.2. Global Consumption and Price Forecast by Enterprise Segment Segments (2022-2028)
12.3. Global Forecasted Growth Rate of Predictive Maintenance by End-User Segments (2022-2028)
13. Research Finding and Conclusion
14. Methodology and Data Source
14.1. Methodology/Research Approach
14.1.1. Research Programs/Deployment
14.1.2. Market Size Estimation
14.1.3. Market Breakdown and Data Triangulation
14.2. Data Source
14.2.1. Secondary Sources
14.2.2. Primary Sources
14.3. Author List
14.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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