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Global Predictive Maintenance Market Size Study & Forecast, by Component (Solutions, Services), By Deployment Model (Cloud, On-premise), By Organization Size (Large Enterprises, Small and Medium-sized Enterprises), By Industry Vertical (Government & Defense, Manufacturing, Energy & Utilities, Transportation & Logistics, Healthcare & Life Sciences), and Regional Analysis, 2023-2030

April 2024 | 200 pages | ID: GF571743B05BEN
Bizwit Research & Consulting LLP

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Global Predictive Maintenance Market is valued approximately at USD 5.45 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 30.90% over the forecast period 2023-2030. Predictive Maintenance is a proactive maintenance strategy employed by organizations to anticipate and mitigate equipment failures before they occur, thereby optimizing operational efficiency and reducing downtime. This approach relies on advanced data analytics, machine learning algorithms, and sensor technologies to monitor the condition of machinery and predict potential faults or failures based on historical performance data and real-time operational parameters. The application of Predictive Maintenance spans various industries, including manufacturing, transportation, energy, and healthcare, among others. By continuously monitoring equipment health and performance metrics, organizations can identify patterns and anomalies indicative of impending failures or degradation in asset condition. This enables timely intervention through scheduled maintenance activities, part replacement, or corrective actions, thereby preventing costly breakdowns, minimizing production disruptions, and extending the lifespan of critical assets. Moreover, the growing adoption industrial internet of things (IIoT), increasing focus on asset performance management, and rising shift from reactive to proactive maintenance are anticipated to create the lucrative demand for the market during forecast period 2023-2030.

Additionally, the proliferation of IIoT devices and connectivity solutions in industrial settings has facilitated the collection of vast amounts of real-time data from equipment and machinery. This data can be leveraged for predictive analytics and condition monitoring, enabling proactive maintenance actions, driving the growth of the Predictive Maintenance market. In 2021, the global industrial internet of things (IIoT) market was valued USD 263.52 billion and it is anticipated to reach USD 2,188.73 billion by 2028. Aa a result, the growing adoption of IIoT is anticipated to support the market growth. Moreover, the growing advancement in sensor technology, IoT devices, cloud computing, and machine learning algorithms, and growing industrialization are anticipated to create lucrative opportunity for the market growth. However, the high initial implementing costs, and inadequate availability of skilled workforce stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Predictive Maintenance Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the increasing adoption of IOT and sensor technologies, growing awareness of predictive maintenance, rise of industry 4.0 and digital transformation initiatives, and advancement in data analytics and machine learning. Whereas, the Asia Pacific region is expected to grow with the fastest growth rate during the forecast period, owing to factors such as the rapid adoption of industrial IoT and sensor technologies across various industries such as manufacturing, energy, transportation, and healthcare, government initiatives promoting industry 4.0, growing advancements in data analytics and ai technologies, and expansion of manufacturing and infrastructure sectors in the region.

Major market players included in this report are:

IBM Corporation

Microsoft Corporation

SAP SE

Schneider Electric SE

Hitachi, Ltd.

SAS Institute, Inc.

Oracle Corporation

Siemens AG

Axiomtek Co., Ltd.

Banner Engineering Corp.

Recent Developments in the Market:
  • In April 2023, TrendMiner has unveiled an upgraded version of its predictive maintenance software, named the Digital Twin Manager. This latest version boasts improved compatibility with cloud data sources from leading providers like AWS and Microsoft. Additionally, it introduces interactive search capabilities, empowering users to glean insights from data swiftly and make informed decisions with heightened efficiency.
  • In May 2023, Cisco Systems, Inc. and NTT, a leading provider of telecom infrastructure services, have joined forces to co-create a suite of solutions aimed at delivering real-time data insights, bolstering decision-making processes, and fortifying security measures. Leveraging predictive maintenance, supply chain management, and asset tracking capabilities, this collaboration aims to empower organizations with advanced tools for optimizing operations and safeguarding critical assets.
Global Predictive Maintenance Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered - Component, Deployment Model, Organization Size, Industry Vertical, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

Solutions

Services

By Deployment Model:

Cloud

On-premise

By Organization Size:

Large Enterprises

Small and Medium-sized Enterprises

By Industry Vertical:

Government & Defense

Manufacturing

Energy & Utilities

Transportation & Logistics

Healthcare & Life Sciences

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Predictive Maintenance Market, by region, 2020-2030 (USD Billion)
  1.2.2. Predictive Maintenance Market, by Component, 2020-2030 (USD Billion)
  1.2.3. Predictive Maintenance Market, by Deployment Model, 2020-2030 (USD Billion)
  1.2.4. Predictive Maintenance Market, by Organization Size, 2020-2030 (USD Billion)
  1.2.5. Predictive Maintenance Market, by Industry Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL PREDICTIVE MAINTENANCE MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL PREDICTIVE MAINTENANCE MARKET DYNAMICS

3.1. Predictive Maintenance Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Growing adoption industrial internet of things (IIoT)
    3.1.1.2. Increasing focus on asset performance management
    3.1.1.3. Rising shift from reactive to proactive maintenance
  3.1.2. Market Challenges
    3.1.2.1. High initial implementation costs
    3.1.2.2. Inadequate availability of skilled workforce
  3.1.3. Market Opportunities
    3.1.3.1. Advancement in sensor technology, IoT devices, cloud computing, and machine learning algorithms
    3.1.3.2. Growing industrialization

CHAPTER 4. GLOBAL PREDICTIVE MAINTENANCE MARKET: INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economic
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL PREDICTIVE MAINTENANCE MARKET, BY COMPONENT

5.1. Market Snapshot
5.2. Global Predictive Maintenance Market by Component, Performance - Potential Analysis
5.3. Global Predictive Maintenance Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Predictive Maintenance Market, Sub Segment Analysis
  5.4.1. Solutions
  5.4.2. Services

CHAPTER 6. GLOBAL PREDICTIVE MAINTENANCE MARKET, BY DEPLOYMENT MODEL

6.1. Market Snapshot
6.2. Global Predictive Maintenance Market by Deployment Model, Performance - Potential Analysis
6.3. Global Predictive Maintenance Market Estimates & Forecasts by Deployment Model 2020-2030 (USD Billion)
6.4. Predictive Maintenance Market, Sub Segment Analysis
  6.4.1. Cloud
  6.4.2. On-premise

CHAPTER 7. GLOBAL PREDICTIVE MAINTENANCE MARKET, BY ORGANIZATION SIZE

7.1. Market Snapshot
7.2. Global Predictive Maintenance Market by Organization Size, Performance - Potential Analysis
7.3. Global Predictive Maintenance Market Estimates & Forecasts by Organization Size 2020-2030 (USD Billion)
7.4. Predictive Maintenance Market, Sub Segment Analysis
  7.4.1. Large Enterprises
  7.4.2. Small and Medium-sized Enterprise

CHAPTER 8. PREDICTIVE MAINTENANCE MARKET, BY INDUSTRY VERTICAL

8.1. Market Snapshot
8.2. Global Predictive Maintenance Market by Industry Vertical, Performance - Potential Analysis
8.3. Global Predictive Maintenance Market Estimates & Forecasts by Industry Vertical 2020-2030 (USD Billion)
8.4. Predictive Maintenance Market, Sub Segment Analysis
  8.4.1. Government & Defense
  8.4.2. Manufacturing
  8.4.3. Energy & Utilities
  8.4.4. Transportation & Logistics
  8.4.5. Healthcare & Life Sciences

CHAPTER 9. GLOBAL PREDICTIVE MAINTENANCE MARKET, REGIONAL ANALYSIS

9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Predictive Maintenance Market, Regional Market Snapshot
9.4. North America Predictive Maintenance Market
  9.4.1. U.S. Predictive Maintenance Market
    9.4.1.1. Component breakdown estimates & forecasts, 2020-2030
    9.4.1.2. Deployment Model breakdown estimates & forecasts, 2020-2030
    9.4.1.3. Organization Size breakdown estimates & forecasts, 2020-2030
    9.4.1.4. Industry Vertical breakdown estimates & forecasts, 2020-2030
  9.4.2. Canada Predictive Maintenance Market
9.5. Europe Predictive Maintenance Market Snapshot
  9.5.1. U.K. Predictive Maintenance Market
  9.5.2. Germany Predictive Maintenance Market
  9.5.3. France Predictive Maintenance Market
  9.5.4. Spain Predictive Maintenance Market
  9.5.5. Italy Predictive Maintenance Market
  9.5.6. Rest of Europe Predictive Maintenance Market
9.6. Asia-Pacific Predictive Maintenance Market Snapshot
  9.6.1. China Predictive Maintenance Market
  9.6.2. India Predictive Maintenance Market
  9.6.3. Japan Predictive Maintenance Market
  9.6.4. Australia Predictive Maintenance Market
  9.6.5. South Korea Predictive Maintenance Market
  9.6.6. Rest of Asia Pacific Predictive Maintenance Market
9.7. Latin America Predictive Maintenance Market Snapshot
  9.7.1. Brazil Predictive Maintenance Market
  9.7.2. Mexico Predictive Maintenance Market
9.8. Middle East & Africa Predictive Maintenance Market
  9.8.1. Saudi Arabia Predictive Maintenance Market
  9.8.2. South Africa Predictive Maintenance Market
  9.8.3. Rest of Middle East & Africa Predictive Maintenance Market

CHAPTER 10. COMPETITIVE INTELLIGENCE

10.1. Key Company SWOT Analysis
  10.1.1. Company
  10.1.2. Company
  10.1.3. Company
10.2. Top Market Strategies
10.3. Company Profiles
  10.3.1. IBM Corporation
    10.3.1.1. Key Information
    10.3.1.2. Overview
    10.3.1.3. Financial (Subject to Data Availability)
    10.3.1.4. Product Summary
    10.3.1.5. Recent Developments
  10.3.2. Microsoft Corporation
  10.3.3. SAP SE
  10.3.4. Schneider Electric SE
  10.3.5. Hitachi, Ltd.
  10.3.6. SAS Institute, Inc.
  10.3.7. Oracle Corporation
  10.3.8. Siemens AG
  10.3.9. Axiomtek Co., Ltd.
  10.3.10. Banner Engineering Corp.

CHAPTER 11. RESEARCH PROCESS

11.1. Research Process
  11.1.1. Data Mining
  11.1.2. Analysis
  11.1.3. Market Estimation
  11.1.4. Validation
  11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

12 .LIST OF TABLES

TABLE 1. Global Predictive Maintenance Market, report scope
TABLE 2. Global Predictive Maintenance Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Predictive Maintenance Market estimates & forecasts by Component 2020-2030 (USD Billion)
TABLE 4. Global Predictive Maintenance Market estimates & forecasts by Deployment Model 2020-2030 (USD Billion)
TABLE 5. Global Predictive Maintenance Market estimates & forecasts by Organization Size 2020-2030 (USD Billion)
TABLE 6. Global Predictive Maintenance Market estimates & forecasts by Industry Vertical 2020-2030 (USD Billion)
TABLE 7. Global Predictive Maintenance Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Predictive Maintenance Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Predictive Maintenance Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Predictive Maintenance Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Predictive Maintenance Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Predictive Maintenance Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Predictive Maintenance Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Predictive Maintenance Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Predictive Maintenance Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. Global Predictive Maintenance Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 18. U.S. Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. U.S. Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20. Canada Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 21. Canada Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. Canada Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23. UK Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 24. UK Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. UK Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26. Germany Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 27. Germany Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. Germany Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29. France Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 30. France Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. France Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32. Italy Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 33. Italy Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Italy Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35. Spain Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 36. Spain Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. Spain Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38. RoE Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 39. RoE Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. RoE Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41. China Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 42. China Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. China Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44. India Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 45. India Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. India Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47. Japan Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 48. Japan Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. Japan Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50. South Korea Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 51. South Korea Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. South Korea Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53. Australia Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 54. Australia Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. Australia Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56. RoAPAC Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 57. RoAPAC Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. RoAPAC Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59. Brazil Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 60. Brazil Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Brazil Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62. Mexico Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 63. Mexico Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. Mexico Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65. RoLA Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 66. RoLA Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. RoLA Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68. Saudi Arabia Predictive Maintenance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 69. South Africa Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. RoMEA Predictive Maintenance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 71. List of secondary sources, used in the study of global Predictive Maintenance Market
TABLE 72. List of primary sources, used in the study of global Predictive Maintenance Market
TABLE 73. Years considered for the study
TABLE 74. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Predictive Maintenance Market, research methodology
FIG 2. Global Predictive Maintenance Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Predictive Maintenance Market, key trends 2022
FIG 5. Global Predictive Maintenance Market, growth prospects 2023-2030
FIG 6. Global Predictive Maintenance Market, porters 5 force model
FIG 7. Global Predictive Maintenance Market, pest analysis
FIG 8. Global Predictive Maintenance Market, value chain analysis
FIG 9. Global Predictive Maintenance Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Predictive Maintenance Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Predictive Maintenance Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Predictive Maintenance Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Predictive Maintenance Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Predictive Maintenance Market, regional snapshot 2020 & 2030
FIG 15. North America Predictive Maintenance Market 2020 & 2030 (USD Billion)
FIG 16. Europe Predictive Maintenance Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Predictive Maintenance Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Predictive Maintenance Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Predictive Maintenance Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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