Global Predictive Maintenance Market to Cross USD 4.9 Bn by 2021, Predicts MarketsandMarkets in Its Report Available at MarketPublishers.com23 Mar 2017 • by Natalie Aster
LONDON – In the past year, the value of the world’s predictive maintenance market exceeded USD 1.4 billion. It is forecast to exhibit impressive growth at a 28.4% CAGR in the next 5 years to surpass the USD 4.9 billion mark by 2021.
Robust market growth is fueled by a range of favourable factors comprising widespread oh IoT worldwide and lowering maintenance cost with reduced downtime along with continuously rising demand for predictive maintenance services and solutions.
Still, the market growth could be hampered by lack of training and lack of trust for predictive maintenance.
The support and maintenance services sector is predicted to increase at the fastest pace in the short run, propelled majorly by the escalating demand across developing regions
North America is the biggest regional market for predictive maintenance, and the region is likely to maintains its top position through 2021. The US captures the major share of the North American market for predictive maintenance.
Cutting-edge research publication “Predictive Maintenance Market by Component, Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2021” created by MarketsandMarkets gives access to reliable data on the market performance at different geographical levels. It highlights the market dynamics, examines major growth drivers and limiters, touches upon key challenges and emerging growth opportunities, discusses prevailing development trends and also presents access to valuable future forecasts for the global market through 2021. Furthermore, the study scrutinizes the market competitive landscape and profiles leading players.
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