Predictive Maintenance Market Size To Expand at a Notable CAGR Of 26.2% During 2022 - 2030

Predictive Maintenance Market Size To Expand at a Notable CAGR Of 26.2% During 2022 - 2030

Predictive Maintenance Market is predicted to reach USD 111.30 billion at a CAGR of 26.20% during the forecast period:


Market Research Future (MRFR) has published a cooked research report on the “Global Predictive Maintenance Market” that contains information from 2018 to 2030. The Predictive Maintenance market is estimated to register a CAGR of 26.20% during the forecast period of 2023 to 2030.


MRFR recognizes the following companies as the key players in the global Predictive Maintenance market— Axiomtek Co. Ltd (Taiwan), Oracle Corporation (US), Microsoft Corporation (US), XMPro (US) and others.


Market Highlights


The global Predictive Maintenance market is accounted to register a CAGR of 26.20% during the forecast period and is estimated to reach USD 111.30 billion by 2030.

The predictive maintenance market involves the use of advanced data analytics and machine learning techniques to predict equipment or asset failures before they occur. It enables organizations to proactively schedule maintenance activities, reduce downtime, and optimize operational efficiency by identifying potential issues and taking preventive measures based on predictive insights.


Segment Analysis


The global Predictive Maintenance market has been segmented based on Component, Testing Type, Deployment Mode, Technique and Vertical.


On the basis of Component, the market is segmented into Hardware, Solution, Services. The solution sector dominated the market. The solution makes use of the data gathered by numerous IoT sensors and conducts a thorough data analysis in order to forecast an anomaly in the operation of the critical equipment.


Based on Testing Type, the global Predictive Maintenance market has been segmented into Vibration Monitoring, Electrical Insulation, Infrared Detector Thermography, Temperature Monitoring, and others. The market share held by the sector for vibration monitoring is biggest. Regular motor testing, or testing as soon as there are signs of difficulty, enables precise problem prediction, prevention, and resolution with the fewest service interruptions.


Based on Deployment Mode, the global Predictive Maintenance market has been segmented into Cloud, and On-premise. The largest market share of these is in the on-premises market segment. The segment is also predicted to have the highest CAGR throughout the course of the assessment year.


Based on Techniques, the global Predictive Maintenance market has been segmented into Traditional Technique, Advanced Technique. The traditional medical practises' market share is by far the largest. The segment is also predicted to have the highest CAGR throughout the course of the assessment year.


Based on Vertical, the global Predictive Maintenance market has been segmented into Manufacturing, Healthcare, Energy & Utility, Automotive, Aerospace & Defense, Transportation, and Others. The largest market share of these belongs to the manufacturing industry. The segment is also predicted to have the highest CAGR throughout the course of the assessment year.


Regional Analysis

The global Predictive Maintenance market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Predictive Maintenance market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Predictive Maintenance market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Predictive Maintenance market comprises of Middle East, Africa, and Latin America.


The North America Predictive Maintenance Market dominated this market in 2022 USD 7.47 billion in 2021 and is anticipated to increase at a notable CAGR during the research period. One of the primary factors influencing the predictive maintenance market in this area is significant technological advancements.


Additionally, the second-largest market share for Predictive Maintenance is held by Europe. because predictive maintenance's advantages are becoming more widely recognised across all industries


Moreover, From 2022 to 2030, the Predictive Maintenance (PdM) Market in Asia-Pacific is anticipated to experience the fastest CAGR growth. Several companies are currently launching comprehensive, next-generation cloud-based solutions. The increased usage of emerging technologies to obtain insightful information for decision-making has aided in industry expansion.


Key Findings of the Study


  • The global Predictive Maintenance market is expected to reach USD 111.30 billion by 2030, at a CAGR of 26.20% during the forecast period.

  • The North America Predictive Maintenance Market dominated this market in 2022 USD 7.47 billion in 2021.

  • Based on Component, The solution sector dominated the market.

  • Axiomtek Co. Ltd (Taiwan), Oracle Corporation (US), Microsoft Corporation (US), XMPro (US) and others.

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