IMARC Group, a leading market research company, has recently releases report titled “Predictive Maintenance Market Report by Component (Solution, Service), Technique (Vibration Monitoring, Electrical Testing, Oil Analysis, Ultrasonic Leak Detectors, Shock Pulse, Infrared, and Others), Deployment Type (Cloud-based, On-premises), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Industry Vertical (Manufacturing, Energy and Utilities, Aerospace and Defense, Transportation and Logistics, Government, Healthcare, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the predictive maintenance market growth.
How Big Is the Predictive Maintenance Market?
The global predictive maintenance market size reached US$ 10.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 72.3 Billion by 2032, exhibiting a growth rate (CAGR) of 23.8% during 2024-2032.
Industry Overview of Predictive Maintenance
Predictive maintenance is a maintenance strategy that uses data analysis and machine learning (ML) techniques to predict equipment failure and maintenance requirements. It aids in reducing unplanned downtime and extending equipment life. It also assists in improving equipment reliability by reducing the frequency and duration of equipment downtime. As a result, predictive maintenance is widely employed in numerous industries, including manufacturing, energy and utilities, aerospace and defense, transportation and logistics, government, and healthcare, across the globe.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/predictive-maintenance-market/requestsample
What are the growth prospects and trends in the predictive maintenance industry?
The market is primarily driven by the increasing utilization of machine-to-machine (M2M) communication and cloud technology to investigate the information derived from industrial assets. In addition, the rising adoption of the Internet of things (IoT), artificial intelligence (AI), cloud computing, and machine learning (ML) for analyzing crucial data represents another growth-inducing factor.
Furthermore, the growing applications of predictive maintenance in tomography, mammography, and X-ray, to enhance operational efficiencies and decision-making capabilities are propelling the market growth.
Moreover, the rising investments in predictive maintenance, owning to its ability to predict equipment failure and extend the lifespan of industrial machinery, are also creating a positive market outlook across the globe.
Leading Companies Operating in the Global Predictive Maintenance Industry:
- Asystom
- C3.ai Inc.
- General Electric Company
- Google LLC (Alphabet Inc.)
- Hitachi Ltd.
- International Business Machines Corporation
- Microsoft Corporation
- PTC Inc.
- SAP SE
- Software AG
- Tibco Software Inc.
- Uptake Technologies Inc.
Predictive Maintenance Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Component:
- Solution
- Service
Breakup by Technique:
- Vibration Monitoring
- Electrical Testing
- Oil Analysis
- Ultrasonic Leak Detectors
- Shock Pulse
- Infrared
- Others
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- Manufacturing
- Energy and Utilities
- Aerospace and Defense
- Transportation and Logistics
- Government
- Healthcare
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
