Dublin, 08 Oct 2021 (GLOBE NEWSWIRE) – The report “Predictive Maintenance Market By Component, By Deployment, By Technique, By Stakeholder, By Industry Vertical – Global Opportunity Analysis And Industry Forecast, 2021-2030” has been added to ResearchAndMarkets.com offer.
The global predictive maintenance market size was valued at $ 4.45 billion in 2020 and is expected to reach $ 64.25 billion by 2030, growing at a CAGR of 31.0% from 2021 to 2030.
Predictive maintenance software is used to monitor the performance and condition of any equipment or machine while it is in operation. The software observes equipment using advanced techniques that allow machine maintenance to be scheduled before a failure occurs. Predictive maintenance software has found its application in various fields such as finding three phase power imbalances due to harmonic distortion, identifying motor amperage spikes, overheating due to bad bearings, engine failure. insulation and localization of overloads or potential damage in electrical panels.
Increased availability along with reduced maintenance costs, unexpected breakdowns and spare parts inventories have led the market to simultaneously propel and prosper. Furthermore, the decrease in repair and overhaul time is the major driver for the growth of the predictive maintenance market.
However, factors like high installation cost and misinterpretation of data leading to bogus claims are hampering the growth of the predictive maintenance software market. In addition, predictive analytics may not take into account contextual information, such as the age of the equipment or the weather. On the contrary, the growing demand for predictive maintenance software to predict embryonic asset failure and prevent losses will create huge opportunities for the predictive maintenance market during the forecast year.
The global predictive maintenance market is segmented into component, deployment model, technique, stakeholder, vertical industry, and region. Based on the component, it is divided into solution and service. Based on the deployment, the market is categorized into cloud and on-premises segments. Further, on the basis of technique, the market is divided into vibration monitoring, electrical testing, oil analysis, ultrasonic leakage detectors, shock pulse, infrared, and others. On the basis of stakeholders, the predictive maintenance market is segmented into MRO, OEM / ODM, and technology integrators. Based on industry vertical, it is classified into manufacturing, energy and utilities, aerospace and defense, transportation and logistics, government and others. Based on region, it is analyzed in North America, Europe, Asia Pacific and Rest of the World (RoW).
North America dominates the global predictive maintenance market, followed by Europe. This is due to underlying factors such as the presence of a large number of service providers, technological advancements and increased awareness of predictive maintenance. However, Asia Pacific will show a steady increase in the adoption of predictive maintenance due to emerging economies, technological advancements and the need to adopt the latest technological innovations to achieve optimum performance through proper maintenance of the machines. active.
Main topics covered:
2. Predictive Maintenance Market – Executive Summary
3. Market overview
4. COVID-19 analysis
5. Global Predictive Maintenance Market, By Component
6. Global Predictive Maintenance Market, By Technique
7. Global Predictive Maintenance Market, By Deployment Type
8. Global predictive maintenance market, by player
9. Global Predictive Maintenance Market, By Industry Vertical
10. Global Predictive Maintenance Market, By Region
11. Company profiles
- Asytom SAS
- Microsoft Corporation
- PTC Inc.
- SAP SE
- C3. AI Inc.
- TIBCO Software Inc.
- Absorption Technologies Inc.
- General Electric
- SAS Institute Company
- IBM companies
For more information on this report, visit https://www.researchandmarkets.com/r/djmwbf
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