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Global Predictive Maintenance Market is Expected to Grow at a CAGR of 29.1% in the Forecast Period of 2024-2032

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Predictive Maintenance Market

Global Predictive Maintenance Market Size, Share, Forecast: By Component: Solutions, Services; By Deployment Mode: Cloud, On-Premises; By Organization Size: Small and Medium-Sized Enterprises, Large Enterprises; By Application: Government and Defense, Manufacturing, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Predictive Maintenance Market Outlook

The global predictive maintenance market attained a value of USD 6.24 billion in 2023. The predictive maintenance market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 29.1% to reach USD 61.95 billion by 2032.

 

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 2018-2023
Forecast Period 2024-2032
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
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Predictive Maintenance Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Predictive Maintenance Historical Market (2018-2023) 
    8.3    Global Predictive Maintenance Market Forecast (2024-2032)
    8.4    Global Predictive Maintenance Market by Component
        8.4.1    Solutions
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Services
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Predictive Maintenance Market by Deployment Mode
        8.5.1     Cloud
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    On-Premises
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Predictive Maintenance Market by Organization Size
        8.6.1     Small and Medium-Sized Enterprises
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Large Enterprises
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Predictive Maintenance Market by Application
        8.7.1     Government and Defense
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Manufacturing
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Energy and Utilities
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Transportation and Logistics
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Healthcare and Life Sciences
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Others
    8.8    Global Predictive Maintenance Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032) 
9    North America Predictive Maintenance Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Predictive Maintenance Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Predictive Maintenance Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Predictive Maintenance Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Predictive Maintenance Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1     Microsoft Corporation 
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2     Hitachi, Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3     Schneider Electric SE
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4     General Electric Company
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5     SAP SE
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6     International Business Machines Corporation 
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Predictive Maintenance Market: Key Industry Highlights, 2018 and 2032
2.    Global Predictive Maintenance Historical Market: Breakup by Component (USD Billion), 2018-2023
3.    Global Predictive Maintenance Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.    Global Predictive Maintenance Historical Market: Breakup by Deployment Mode (USD Billion), 2018-2023
5.    Global Predictive Maintenance Market Forecast: Breakup by Deployment Mode (USD Billion), 2024-2032
6.    Global Predictive Maintenance Historical Market: Breakup by Organization Size (USD Billion), 2018-2023
7.    Global Predictive Maintenance Market Forecast: Breakup by Organization Size (USD Billion), 2024-2032
8.    Global Predictive Maintenance Historical Market: Breakup by Application (USD Billion), 2018-2023
9.    Global Predictive Maintenance Market Forecast: Breakup by Application (USD Billion), 2024-2032
10.    Global Predictive Maintenance Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Predictive Maintenance Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Predictive Maintenance Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Predictive Maintenance Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Predictive Maintenance Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Predictive Maintenance Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Predictive Maintenance Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Predictive Maintenance Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Predictive Maintenance Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Predictive Maintenance Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Predictive Maintenance Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Predictive Maintenance Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Global Predictive Maintenance Market Structure

Key Questions Answered in the Report

What was the global predictive maintenance market size in 2023?

In 2023, the global predictive maintenance market attained a value of nearly USD 6.24 billion.

What is the growth rate of the global predictive maintenance market?

The market is projected to grow at a CAGR of 29.1% between 2024 and 2032.

What is the forecast outlook of the global predictive maintenance market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 61.95 billion by 2032.

What are the major market drivers?

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

What are the key trends of the market?

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

What are the major regions for predictive maintenance, according to the market report?

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

What are the major components of predictive maintenance in the market?

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

What are the significant deployment modes in the market?

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

What are the leading organization sizes of predictive maintenance in the market?

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

What are the major applications of predictive maintenance?

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

Who are the key market players, according to the report?

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.

Analyst Review

The global predictive maintenance market attained a value of USD 6.24 billion in 2023, 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 2024-2032, growing at a CAGR of 29.1%. The predictive maintenance market is projected to reach USD 61.95 billion by 2032.

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