The global predictive maintenance market size is expected to be valued at USD 28.24 billion by 2025, expanding at a CAGR of 37.9% over the forecast period, according to a study conducted by Grand View Research, Inc. Growing demand for IoT and big data along with rising concerns in the organizations regarding asset maintenance and operational costs is expected to drive the growth. Moreover, deployment of predictive maintenance solutions can help organizations in reducing the downtime costs by accurately predicting asset failures.
The
deployment of predictive maintenance solutions is not limited to the manufacturing
sector. These solutions are now increasingly being deployed in energy and
utilities, IT and telecommunication, and automotive and transportation, among
others. Growing adoption of these solution in various sectors is anticipated to
support the market growth over the forecast period.
Companies
operating in the predictive maintenance market are also integrating
sensor-based technologies with the predictive maintenance solutions to deliver
an efficient solution to users. Additionally, the venders are also investing in
R&D of remote maintenance solutions. The remote predictive maintenance
solution is anticipated to support the maintenance activities in remote
locations and also for unsafe working conditions.
For Full Research Report On Predictive Maintenance Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/predictive-maintenance-market
Further key
findings from the report suggest:
- A rise in deployment of
customized predictive maintenance solutions is the key trend driving the
growth of the integrated segment
- Training and consulting
services segment is expected to reach USD 1,991.8 million by 2025 owing to
the growing need for skilled workforce for operating predictive
maintenance solutions
- Demand for cloud-based
predictive maintenance solutions is likely to witness a rise owing to
cost-effectiveness and easy maintenance of produced data through these
solutions
- Small and medium enterprise
segment is projected to witness remarkable growth over the forecast period
owing to reduce the operational costs associated with downtimes
- Growth of the aerospace and
defense segment is being driven by the growing demand for effective flight
operation and avoidance of mishaps or accidents due to failure of any
component within the airplane
- Asia Pacific predictive
maintenance market is anticipated to witness the highest growth owing to
rising adoption of deep learning and artificial intelligence technologies
in the region
- Key players operating in the
market include IBM Corporation; Microsoft Corporation; SAP ERP; General
Electric Company; Siemens AG; Schneider Electric SE; Software AG;
Accenture plc; Honeywell International Inc.; and Cisco Systems, Inc.
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/predictive-maintenance-market/request/rs1
Grand View Research has segmented
the global predictive maintenance market on the basis of solution, service,
deployment, enterprise size, end use, and region:
Predictive
Maintenance Solution Outlook (Revenue, USD Million, 2014 - 2025)
- Integrated
- Standalone
Predictive
Maintenance Service Outlook (Revenue, USD Million, 2014 - 2025)
- Deployment/Installation
- Support & Maintenance
- Training & Consulting
Predictive
Maintenance Deployment Outlook (Revenue, USD Million, 2014 - 2025)
- Cloud
- On-premise
Predictive
Maintenance Enterprise Size Outlook (Revenue, USD Million, 2014 - 2025)
- Small and Medium Enterprises
- Large Enterprises
Predictive
Maintenance End Use Outlook (Revenue, USD Million, 2014 - 2025)
- Aerospace & Defense
- Automotive &
Transportation
- Energy & Utilities
- Healthcare
- IT & Telecommunication
- Manufacturing
- Oil & Gas
- Others
Predictive
Maintenance Region Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment