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Report Overview

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Global Predictive Maintenance Market Outlook

The global predictive maintenance market attained a value of USD 6.24 billion in 2024. The predictive maintenance market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 29.1% to reach USD 61.95 billion by 2034.

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.

Market Segmentation

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:

  • Microsoft Corporation
  • Hitachi, Ltd.
  • Schneider Electric SE
  • General Electric Company
  • SAP SE
  • International Business Machines Corporation
  • 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.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Deployment Mode
  • Organization Size
  • Application
  • Region
Breakup by Component
  • Solutions
  • Services
Breakup by Deployment Mode
  • Cloud
  • On-Premises
Breakup by Organization Size
  • Small and Medium-Sized Enterprises
  • Large Enterprises
Breakup by Application
  • Government and Defence
  • Manufacturing
  • Energy and Utilities
  • Transportation and Logistics
  • Healthcare and Life Sciences
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Microsoft Corporation
  • Hitachi, Ltd.
  • Schneider Electric SE
  • General Electric Company
  • SAP SE
  • International Business Machines Corporation
  • Others
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Predictive Maintenance Market Report Snapshots

Predictive Maintenance Market Size

Predictive Maintenance Market Analysis

Predictive Maintenance Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the global predictive maintenance market attained a value of nearly USD 6.24 billion.

The market is projected to grow at a CAGR of 29.1% between 2025 and 2034.

The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach about USD 61.95 billion by 2034.

The major drivers of the market are rising use of new technologies and increasing need to reduce the cost of maintenance.

The key trends guiding the market growth includes the increasing research and development activities and rising industrialisation. 

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

The major components of predictive maintenance in the market are solutions and services.

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

The leading organization sites of predictive maintenance in the market are small and medium-sized enterprises and large enterprises.

The major applications of predictive maintenance are government and defence, manufacturing, energy and utilities, transportation and logistics, and healthcare and life sciences, among others.

The major players in the global predictive maintenance market are Microsoft Corporation, Hitachi, Ltd., Schneider Electric SE, General Electric Company, SAP SE, and International Business Machines Corporation, among others.

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