Product Code: CMI2548
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)
- 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.
Table of Contents
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
- 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
- About us