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Global Predictive Maintenance Market: By Component: Solutions, Services; By Deployment Mode: Cloud, On-Premises; By Organization Size: Small and Medium-Sized Enterprises, Large Enterprises; By Application; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Predictive Maintenance Market Outlook

The global predictive maintenance market attained a value of USD 2.9 billion in 2020. The predictive maintenance market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 29% to reach USD 13.4 billion by 2026.

 

Global Predictive Maintenance Market

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The predictive maintenance market is driven by the rising use of new technologies to gain valuable insights as well as the increasing need to reduce the cost of maintenance and downtime.

 

Properties and Applications

Predictive maintenance techniques have been designed to support in assessing the condition of in-service equipment to estimate the time for maintenance. Such an approach offers cost savings over routine or preventive maintenance based on time, as tasks are carried out only if warranted. It is therefore considered to be conditionally preserved, as indicated by the degradation status estimates for an object.

 

Global Predictive Maintenance Market By Application

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Based on the component, the predictive maintenance market can be divided into:

  • Solutions
  • Services

The deployment mode is divided into cloud and on-premises.

The organization site can be segmented into:

  • Small and Medium-Sized Enterprises 
  • Large Enterprises

The predictive maintenance industry can be broadly categorised based on its applications into:

  • Government and Defence 
  • Manufacturing 
  • Energy and Utilities 
  • Transportation and Logistics 
  • Healthcare and Life Sciences 
  • Others

The EMR report looks into the regional markets of predictive maintenance like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

 

Global Predictive Maintenance Market by Region

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Market Analysis

The increased use of new and emerging technologies to gain valuable insight into decision-making has contributed to the industry growth. Various vertical end-users are increasingly in need of cost reduction and downtime, which has stimulated the market growth. The emphasis of different verticals on operational efficiency drives the industry growth. The rising industrialisation has added significantly to the market growth. Technology like Big Data and the Internet of Things have propelled the industry growth further.

The shortage of skilled technologies professionals has, however, obstructed the industry growth. Confidence issues with predictive maintenance technology have also hindered the industry growth.

 

Competitive Landscape

The report presents a detailed analysis of the following key players in the global predictive maintenance market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • IBM (NYSE: IBM)
  • Microsoft Corporation 
  • SAP SE 
  • General Electric Company 
  • Schneider Electric SE 
  • Hitachi, Ltd. 
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
    1.1    Objectives of the Study
        1.1.1    Research Objective
        1.1.2    Key Findings of the Report
2    Research Methodology
    2.1    Data Extraction
    2.2    Data Corroboration
    2.3    Market Structure
    2.4    Assumptions
    2.5    Market Models
3    Introduction
    3.1    Market Outlook
    3.2    Market Scope and Segmentation
    3.3    Additional Insights
4    Executive Summary
    4.1    Key Market Developments
    4.2    Market Analysis
    4.3    Key Players
    4.4    Market Revenue and Growth
5    Market Dynamics
    5.1    Market Driver Analysis
    5.2    Market Restraint Analysis
    5.3    Industry Challenges
    5.4    Industry Opportunities
6    Global Predictive Maintenance Market Analysis
    6.1    Figure: Global Predictive Maintenance Historical Market (2016-2020) & Forecast (2021-2026)
    6.2    Chart: Global Predictive Maintenance Market Breakup by Component
        6.2.1    Solutions
        6.2.2    Services
    6.3    Figure: Global Predictive Maintenance Market Breakup by Component: Historical Market (2016-2020) & Forecast (2021-2026)
        6.3.1    Solutions
        6.3.2    Services
    6.4    Chart: Global Predictive Maintenance Market Breakup by Deployment Mode
        6.4.1    Cloud 
        6.4.2    On-Premises
    6.5    Figure: Global Predictive Maintenance Market Breakup by Deployment Mode: Historical Market (2016-2020) & Forecast (2021-2026)
        6.5.1    Cloud 
        6.5.2    On-Premises
    6.6    Chart: Global Predictive Maintenance Market Breakup by Organization Size
        6.6.1    Small and Medium-Sized Enterprises 
        6.6.2    Large Enterprises
    6.7    Figure: Global Predictive Maintenance Market Breakup by Organization Size: Historical Market (2016-2020) & Forecast (2021-2026)
        6.7.1    Small and Medium-Sized Enterprises 
        6.7.2    Large Enterprises
    6.8    Chart: Global Predictive Maintenance Market Breakup by Application
        6.8.1    Government and Defence 
        6.8.2    Manufacturing 
        6.8.3    Energy and Utilities 
        6.8.4    Transportation and Logistics 
        6.8.5    Healthcare and Life Sciences 
        6.8.6    Others
    6.9    Figure: Global Predictive Maintenance Market Breakup by Application: Historical Market (2016-2020) & Forecast (2021-2026)
        6.9.1    Government and Defence 
        6.9.2    Manufacturing 
        6.9.3    Energy and Utilities 
        6.9.4    Transportation and Logistics 
        6.9.5    Healthcare and Life Sciences 
        6.9.6    Others
    6.10    Chart: Global Predictive Maintenance Market Breakup by Region
        6.10.1    North America
            6.10.1.1    United States of America
            6.10.1.2    Canada
        6.10.2    Europe
            6.10.2.1    Germany
            6.10.2.2    France
            6.10.2.3    United Kingdom
            6.10.2.4    Italy
            6.10.2.5    Others
        6.10.3    Asia Pacific
            6.10.3.1    China
            6.10.3.2    Japan
            6.10.3.3    India
            6.10.3.4    ASEAN
            6.10.3.5    Others
        6.10.4    Latin America
            6.10.4.1    Brazil
            6.10.4.2    Argentina
            6.10.4.3    Mexico
            6.10.4.4    Others
        6.10.5    Middle East and Africa
            6.10.5.1    Saudi Arabia
            6.10.5.2    United Arab Emirates
            6.10.5.3    Nigeria
            6.10.5.4    South Africa
            6.10.5.5    Others
    6.11    Figure: Global Predictive Maintenance Market Breakup by Region: Historical Market (2016-2020) & Forecast (2021-2026) 
        6.11.1    North America
            6.11.1.1    United States of America
            6.11.1.2    Canada
        6.11.2    Europe
            6.11.2.1    Germany
            6.11.2.2    France
            6.11.2.3    United Kingdom
            6.11.2.4    Italy
            6.11.2.5    Others
        6.11.3    Asia Pacific
            6.11.3.1    China
            6.11.3.2    Japan
            6.11.3.3    India
            6.11.3.4    ASEAN
            6.11.3.5    Others
        6.11.4    Latin America
            6.11.4.1    Brazil
            6.11.4.2    Argentina
            6.11.4.3    Mexico
            6.11.4.4    Others
        6.11.5    Middle East and Africa
            6.11.5.1    Saudi Arabia
            6.11.5.2    United Arab Emirates
            6.11.5.3    Nigeria
            6.11.5.4    South Africa
            6.11.5.5    Others
7    SWOT Analysis
    7.1    Overview
    7.2    Strengths
    7.3    Weaknesses
    7.4    Opportunities
    7.5    Threats
8    Porter’s Five Forces Analysis
    8.1    Overview
    8.2    Buyer’s Power
    8.3    Supplier’s Power
    8.4    New Entrants
    8.5    Degree of Rivalry
    8.6    Substitutes
9    EMR’s Key Indicators for Demand
10    Competitive Landscape & Supplier Analysis

    10.1    IBM (NYSE: IBM)
        10.1.1    Company Overview
        10.1.2    Financial Analysis
    10.2    Microsoft Corporation (NASDAQ: MSFT)
        10.2.1    Company Overview
        10.2.2    Financial Analysis
    10.3    SAP SE (ETR: SAP)
        10.3.1    Company Overview
        10.3.2    Financial Analysis
    10.4    General Electric Company (NYSE: GE)
        10.4.1    Company Overview
        10.4.2    Financial Analysis
    10.5    Schneider Electric SE (EPA: SU)
        10.5.1    Company Overview
        10.5.2    Financial Analysis
    10.6    Hitachi, Ltd. (TYO: 6501)
        10.6.1    Company Overview
        10.6.2    Financial Analysis
    10.7    Others
11    Industry Events and Development

Key Questions Answered in the Report

In 2020, the global predictive maintenance market attained a value of nearly USD 2.9 billion.

The market is projected to grow at a CAGR of 29% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 13.4 billion by 2026.

The major drivers of the industry, such as the rising use of new technologies, increasing need to reduce the cost of maintenance, and rising industrialisation, are expected to aid the market growth.

The key market trend guiding the industry growth includes the increasing R&D activities.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major components of the product in the industry are solutions and services.

The significant deployment modes in the market are cloud and on-premises.

The leading organization sites of the product in the industry are small and medium-sized enterprises and large enterprises.

The major applications of the product in the market are government and defence, manufacturing, energy and utilities, transportation and logistics, and healthcare and life sciences, among others.

The major players in the industry are IBM, Microsoft Corporation, SAP SE, General Electric Company, Schneider Electric SE, and Hitachi, Ltd., among others.

Analyst Review

The global predictive maintenance market attained a value of USD 2.9 billion in 2020, driven by the rising use of new technologies. Aided by the technological advancements, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 29%. The predictive maintenance market is projected to reach USD 13.4 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on components, the predictive maintenance industry can be segmented into solutions and services. On the basis of deployment modes, the market is bifurcated into cloud and on-premises. By organization sites, the industry is segmented into small and medium-sized enterprises and large enterprises. On the basis of applications, the industry is divided into government and defence, manufacturing, energy and utilities, transportation and logistics, healthcare and life sciences, and others. The major regional markets for predictive maintenance are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include IBM, Microsoft Corporation, SAP SE, General Electric Company, Schneider Electric SE, Hitachi, Ltd., and others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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