Global Predictive Maintenance Market, By Component (Software, Services), By Deployment Mode (Cloud, On-premise), By Industry Vertical (Government and Defense, Manufacturing, Energy and Utilities, Transportation and Logistics, Others), and opportunities and forecast 2020-2027
Predictive Maintenance Market Overview
Predictive maintenance is also known as condition-based maintenance. It monitors the performance and maintenance, condition of machines and equipment during operations to avoid failure. It depends on condition monitoring. The three facets of condition monitoring include online, periodic, and report. In addition, there are several advantages of predictive maintenance which include cost savings, decreasing planned downtime, maximizing the lifespan of equipment, optimizing employee productivity, and more. Besides, the disadvantage is the amount of time it takes for assessing and implementing PDM schedules.
Predictive maintenance offers a great ability to make a prediction 20 times faster than threshold-based monitoring systems to organizations. In industries such as oil & gas and industrial manufacturing, downtime costs a large amount of money, caused by machine failures. Thus, industrial customers are becoming more conscious of predictive maintenance. Additionally, organizations are taking support of AI and ML technologies for precision accuracy and speed over traditional tools to examines the data. All these factors are escalating the demand for predictive maintenance, which is boosting the growth of the global Predictive Maintenance market.
On the downside, data produced by devices used in predictive maintenance are increasing in volume as connected devices are rising in number. This causes misuse of data such as to determine the strategies of competing companies, and take control of machines. Similarly, an increase in privacy issues is seen due to the unavailability of resources for the implementation of AI on IoT devices. These factors may restrain the growth of the predictive maintenance market.
Covid-19 Impact on Predictive Maintenance Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Predictive Maintenance Market Segment Overview
Based on Deployment Mode, the Cloud segment is expected to grow at a rapid pace in the forecast period. Most of the vendors in the predictive maintenance market offer cloud-based maintenance solutions to gain maximum profits and efficiently automate the equipment maintenance process. In addition, the adoption of cloud-based predictive maintenance solutions is anticipated to grow, primarily due to their benefits, such as easy maintenance of generated data, cost-effectiveness, scalability, and effective management. According to Industry Vertical, the Energy and Utilities segment is the fastest-growing segment in the predictive maintenance market. This is due to the increasing demand for power-usage analytics applications.
Predictive Maintenance Market, By Component · Software · Services
Predictive Maintenance Market, By Deployment Mode · Cloud · On-premise
Predictive Maintenance Market, By Industry Vertical · Government and Defense · Manufacturing · Energy and Utilities · Transportation and Logistics · Others
Predictive Maintenance Regional Overview
In terms of region, North America and Europe are expected to witness significant growth in the predictive maintenance market. This is due to increasing competition among players. Similarly, the market in the Asia Pacific is projected to expand at a high growth rate during the forecast period. This growth is attributed to an extensive range of applications, the adoption of advanced technologies, the benefits of predictive maintenance, and the increasing manufacturing industry in developing countries such as Japan, Taiwan, and China. Hence, these factors are anticipated to upsurge the demand for predictive maintenance products. As well, the market in Middle East & Africa is also expected to show high growth owing to growing demand from the oil & gas industry.
Predictive Maintenance Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Predictive Maintenance Market Competitor overview
Some key developments and strategies adopted by manufacturers in Predictive Maintenance are highlighted below.
· In September 2021, Infineon recently developed the XENSIV™ Predictive Maintenance evaluation kit to enable their customers to easily and quickly evaluate predictive maintenance functionalities in their system. Thanks to the evaluation kit, customers can reduce their time to market and engineering efforts.
Predictive Maintenance Market, Key Players
· IBM · Microsoft · SAP · Hitachi · Schneider Electric · PTC · GE · Software AG · SAS · TIBCO · C3 IoT · Uptake · Softweb Solutions · Asystom · Others
Predictive Maintenance Market Study Global Market Analysis, Insights and Forecast, 2020-2027
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
5. Global Predictive Maintenance Market Analysis (USD Billion), Insights and Forecast, 2020-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Component
5.2.1. Software
5.2.2. Services
5.3. Market Analysis, Insights and Forecast – By Deployment Mode
5.3.1. Cloud
5.3.2. On-premise
5.4. Market Analysis, Insights and Forecast – By Industry Vertical
5.4.1. Government and Defense
5.4.2. Manufacturing
5.4.3. Energy and Utilities
5.4.4. Transportation and Logistics
5.4.5. Others
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1. North America
5.5.2. Europe
5.5.3. Asia Pacific
5.5.4. Latin America, Middle East and Africa
6. North America Predictive Maintenance Market Analysis (USD Billion), Insights and Forecast, 2020-2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Component
6.2.1. Software
6.2.2. Services
6.3. Market Analysis, Insights and Forecast – By Deployment Mode
6.3.1. Cloud
6.3.2. On-premise
6.4. Market Analysis, Insights and Forecast – By Industry Vertical
6.4.1. Government and Defense
6.4.2. Manufacturing
6.4.3. Energy and Utilities
6.4.4. Transportation and Logistics
6.4.5. Others
6.5. Market Analysis, Insights and Forecast – By Country
6.5.1. U.S.
6.5.2. Canada
7. Europe Predictive Maintenance Market Analysis (USD Billion), Insights and Forecast, 2020-2027
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Component
7.2.1. Software
7.2.2. Services
7.3. Market Analysis, Insights and Forecast – By Deployment Mode
7.3.1. Cloud
7.3.2. On-premise
7.4. Market Analysis, Insights and Forecast – By Industry Vertical
7.4.1. Government and Defense
7.4.2. Manufacturing
7.4.3. Energy and Utilities
7.4.4. Transportation and Logistics
7.4.5. Others
7.5. Market Analysis, Insights and Forecast – By Country
7.5.1. UK
7.5.2. Germany
7.5.3. France
7.5.4. Italy
7.5.5. Spain
7.5.6. Russia
7.5.7. Rest of Europe
8. Asia Pacific Predictive Maintenance Market Analysis (USD Billion), Insights and Forecast, 2020-2027
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Component
8.2.1. Software
8.2.2. Services
8.3. Market Analysis, Insights and Forecast – By Deployment Mode
8.3.1. Cloud
8.3.2. On-premise
8.4. Market Analysis, Insights and Forecast – By Industry Vertical
8.4.1. Government and Defense
8.4.2. Manufacturing
8.4.3. Energy and Utilities
8.4.4. Transportation and Logistics
8.4.5. Others
8.5. Market Analysis, Insights and Forecast – By Country
8.5.1. China
8.5.2. India
8.5.3. Japan
8.5.4. Australia
8.5.5. South East Asia
8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Predictive Maintenance Market Analysis (USD Billion), Insights and Forecast, 2020-2027
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Component
9.2.1. Software
9.2.2. Services
9.3. Market Analysis, Insights and Forecast – By Deployment Mode
9.3.1. Cloud
9.3.2. On-premise
9.4. Market Analysis, Insights and Forecast – By Industry Vertical
9.4.1. Government and Defense
9.4.2. Manufacturing
9.4.3. Energy and Utilities
9.4.4. Transportation and Logistics
9.4.5. Others
9.5. Market Analysis, Insights and Forecast – By Country
9.5.1. Brazil
9.5.2. Saudi Arabia
9.5.3. UAE
9.5.4. Rest of LAMEA
10. Competitive Analysis
10.1. Company Market Share Analysis, 2018
10.2. Key Industry Developments
10.3. Company Profile
10.4. IBM
10.4.1. Business Overview
10.4.2. Segment 1 & Service Offering
10.4.3. Overall Revenue
10.4.4. Geographic Presence
10.4.5. Recent Development
*Similar details will be provided for the following companies
10.5. Microsoft
10.6. SAP
10.7. Hitachi
10.8. Schneider Electric
10.9. PTC
10.10. GE
10.11. Software AG
10.12. SAS
10.13. TIBCO
10.14. C3 IoT
10.15. Uptake
10.16. Softweb Solutions
10.17. Asystom
List of Figures
Figure 1: Global Predictive Maintenance Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
Figure 2: Global Predictive Maintenance Market Value Share (%), By Segment 1, 2019 & 2027
Figure 3: Global Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 4: Global Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 5: Global Predictive Maintenance Market Value Share (%), By Segment 2, 2019 & 2027
Figure 6: Global Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 7: Global Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 8: Global Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 9: Global Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 10: Global Predictive Maintenance Market Value Share (%), By Segment 3, 2019 & 2027
Figure 11: Global Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 12: Global Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 13: Global Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 14: Global Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 15: Global Predictive Maintenance Market Value (USD Billion), by Region, 2019 & 2027
Figure 16: North America Predictive Maintenance Market Value Share (%), By Segment 1, 2019 & 2027
Figure 17: North America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 18: North America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 19: North America Predictive Maintenance Market Value Share (%), By Segment 2, 2019 & 2027
Figure 20: North America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 21: North America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 22: North America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 23: North America Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 24: North America Predictive Maintenance Market Value Share (%), By Segment 3, 2019 & 2027
Figure 25: North America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 26: North America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 27: North America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 28: North America Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 29: North America Predictive Maintenance Market Forecast (USD Billion), by U.S., 2016-2027
Figure 30: North America Predictive Maintenance Market Forecast (USD Billion), by Canada, 2016-2027
Figure 31: Latin America Predictive Maintenance Market Value Share (%), By Segment 1, 2019 & 2027
Figure 32: Latin America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 33: Latin America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 34: Latin America Predictive Maintenance Market Value Share (%), By Segment 2, 2019 & 2027
Figure 35: Latin America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 36: Latin America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 37: Latin America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 38: Latin America Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 39: Latin America Predictive Maintenance Market Value Share (%), By Segment 3, 2019 & 2027
Figure 40: Latin America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 41: Latin America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 42: Latin America Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 43: Latin America Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 44: Latin America Predictive Maintenance Market Forecast (USD Billion), by Brazil, 2016-2027
Figure 45: Latin America Predictive Maintenance Market Forecast (USD Billion), by Mexico, 2016-2027
Figure 46: Latin America Predictive Maintenance Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
Figure 47: Europe Predictive Maintenance Market Value Share (%), By Segment 1, 2019 & 2027
Figure 48: Europe Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 49: Europe Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 50: Europe Predictive Maintenance Market Value Share (%), By Segment 2, 2019 & 2027
Figure 51: Europe Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 52: Europe Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 53: Europe Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 54: Europe Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 55: Europe Predictive Maintenance Market Value Share (%), By Segment 3, 2019 & 2027
Figure 56: Europe Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 57: Europe Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 58: Europe Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 59: Europe Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 60: Europe Predictive Maintenance Market Forecast (USD Billion), by U.K., 2016-2027
Figure 61: Europe Predictive Maintenance Market Forecast (USD Billion), by Germany, 2016-2027
Figure 62: Europe Predictive Maintenance Market Forecast (USD Billion), by France, 2016-2027
Figure 63: Europe Predictive Maintenance Market Forecast (USD Billion), by Italy, 2016-2027
Figure 64: Europe Predictive Maintenance Market Forecast (USD Billion), by Spain, 2016-2027
Figure 65: Europe Predictive Maintenance Market Forecast (USD Billion), by Russia, 2016-2027
Figure 66: Europe Predictive Maintenance Market Forecast (USD Billion), by Rest of Europe, 2016-2027
Figure 67: Asia Pacific Predictive Maintenance Market Value Share (%), By Segment 1, 2019 & 2027
Figure 68: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 69: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 70: Asia Pacific Predictive Maintenance Market Value Share (%), By Segment 2, 2019 & 2027
Figure 71: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 72: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 73: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 74: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 75: Asia Pacific Predictive Maintenance Market Value Share (%), By Segment 3, 2019 & 2027
Figure 76: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 77: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 78: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 79: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 80: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by China, 2016-2027
Figure 81: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by India, 2016-2027
Figure 82: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Japan, 2016-2027
Figure 83: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Australia, 2016-2027
Figure 84: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Southeast Asia, 2016-2027
Figure 85: Asia Pacific Predictive Maintenance Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
Figure 86: Middle East & Africa Predictive Maintenance Market Value Share (%), By Segment 1, 2019 & 2027
Figure 87: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 88: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 89: Middle East & Africa Predictive Maintenance Market Value Share (%), By Segment 2, 2019 & 2027
Figure 90: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 91: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 92: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 93: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 94: Middle East & Africa Predictive Maintenance Market Value Share (%), By Segment 3, 2019 & 2027
Figure 95: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 96: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 97: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 98: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Others, 2016-2027
Figure 99: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by GCC, 2016-2027
Figure 100: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by South Africa, 2016-2027
Figure 101: Middle East & Africa Predictive Maintenance Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027
List of Tables
Table 1: Global Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 2: Global Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 3: Global Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 4: Global Predictive Maintenance Market Revenue (USD Billion) Forecast, by Region, 2016-2027
Table 5: North America Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 6: North America Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 7: North America Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 8: North America Predictive Maintenance Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 9: Europe Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 10: Europe Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 11: Europe Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 12: Europe Predictive Maintenance Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 13: Latin America Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 14: Latin America Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 15: Latin America Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 16: Latin America Predictive Maintenance Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 17: Asia Pacific Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 18: Asia Pacific Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 19: Asia Pacific Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 20: Asia Pacific Predictive Maintenance Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 21: Middle East & Africa Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 22: Middle East & Africa Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 23: Middle East & Africa Predictive Maintenance Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 24: Middle East & Africa Predictive Maintenance Market Revenue (USD Billion) Forecast, by Country, 2016-2027
