Predictive Maintenance Market, By Component, By Technique, By End-use Industry, By Geography

Description

The global predictive maintenance market is estimated to be valued at USD 8.96 Bn in 2024 and is expected to reach USD 35.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 21.8% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 8.96 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	21.80%	2031 Value Projection:	US$ 35.72 Bn

Figure. Predictive Maintenance Market Share (%), By Region 2024

The global predictive maintenance market is projected to witness significant growth during the forecast period owing to the growing need for cost-effective maintenance strategies across various industrial verticals. Predictive maintenance utilizes various techniques such as vibration monitoring, infrared thermography, ultrasound inspection, and oil analysis to collect equipment-related data and analyze it to determine if maintenance is required. This helps operators anticipate equipment failures early on and reduce unexpected downtime. Furthermore, the integration of advanced technologies such as artificial intelligence, industrial IoT, and analytics is enabling more accurate predictive equipment maintenance. The rising adoption of cloud-based predictive maintenance solutions is also aiding the market growth.

Market Dynamics:

The global predictive maintenance market is driven by factors such as the need to reduce operational costs, enhance asset availability and meet occupational health and safety standards across industries. However, high initial capital investments for predictive maintenance solutions and lack of skilled workforce are hindering the market growth. The integration of predictive maintenance with emerging technologies, such as augmented reality and Blockchain, provides new opportunities for market players. Real-time equipment monitoring through IoT integration will also support the predictive maintenance market going forward.

Key Features of the Study:

This report provides in-depth analysis of the global predictive maintenance market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global predictive maintenance market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include ABB Ltd., Cisco Systems, Inc., Emerson Electric Co., General Electric Company, Hewlett Packard Enterprise, Hitachi, Ltd., IBM Corporation, Microsoft Corporation, Oracle Corporation, PTC Inc., Rockwell Automation Inc., SAP SE, Schneider Electric SE, Siemens AG, and Uptake Technologies Inc.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global predictive maintenance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global predictive maintenance market

Detailed Segmentation:

Component Insights (Revenue, USD Bn, 2019 - 2031)
- Solutions
- Services
Technique Insights (Revenue, USD Bn, 2019 - 2031)
- Vibration Monitoring
- Thermography
- Oil Analysis
- Ultrasound Testing
- Others (Wear Debris Analysis, Acoustic Emission, etc.)
End-use Industry Insights (Revenue, USD Bn, 2019 - 2031)
- Manufacturing
- Energy and Utilities
- Transportation and Logistics
- Aviation
- Others (Healthcare, Process Industries, etc.)
By Regional Insights (Revenue, USD Bn 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- ABB Ltd.
- Cisco Systems, Inc.
- Emerson Electric Co.
- General Electric Company
- Hewlett Packard Enterprise
- Hitachi, Ltd.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- PTC Inc.
- Rockwell Automation Inc.
- SAP SE
- Schneider Electric SE
- Siemens AG
- Uptake Technologies Inc.

Product Code: CMI2548

1. RESEARCH OBJECTIVES AND ASSUMPTIONS

Research Objectives
Assumptions
Abbreviations

2. MARKET PURVIEW

Report Description
- Market Definition and Scope
Executive Summary
- Global Predictive Maintenance Market, By Component
- Global Predictive Maintenance Market, By Technique
- Global Predictive Maintenance Market, By End-use Industry

3. MARKET DYNAMICS, REGULATIONS, AND TRENDS ANALYSIS

Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario

4. Global Predictive Maintenance Market, By Component, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Solutions
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

5. Global Predictive Maintenance Market, By Technique, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Vibration Monitoring
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Thermography
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Oil Analysis
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Ultrasound Testing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Others (Wear Debris Analysis, Acoustic Emission, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

6. Global Predictive Maintenance Market, By End-use Industry, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Manufacturing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Energy and Utilities
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Transportation and Logistics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Aviation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Others (Healthcare, Process Industries, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

7. Global Predictive Maintenance Market, By Region, 2019 - 2031, Value (USD Bn)

Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2019 - 2031, Value (USD Bn)
- Regional Trends
  - North America
- Introduction
- Market Size and Forecast, By Component , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Technique , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-use Industry , 2019 - 2031, Value (USD Bn)
U.S.
Canada
Latin America
- Introduction
- Market Size and Forecast, By Component , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Technique , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-use Industry , 2019 - 2031, Value (USD Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Component , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Technique , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-use Industry , 2019 - 2031, Value (USD Bn)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Component , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Technique , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-use Industry , 2019 - 2031, Value (USD Bn)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, By Component , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Technique , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-use Industry , 2019 - 2031, Value (USD Bn)
GCC Countries
Israel
Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, By Component , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Technique , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-use Industry , 2019 - 2031, Value (USD Bn)
South Africa
North Africa
Central Africa

8. COMPETITIVE LANDSCAPE

ABB Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Cisco Systems, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Emerson Electric Co.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
General Electric Company
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Hewlett Packard Enterprise
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Hitachi, Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
IBM Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Microsoft Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Oracle Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
PTC Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Rockwell Automation Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
SAP SE
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Schneider Electric SE
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Siemens AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Uptake Technologies Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. References and Research Methodology

References
Research Methodology
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