Predictive Maintenance Market Size Worth $28.24 Billion By 2025 | Key Players Operating In The Market IBM Corporation; Microsoft Corporation, Accenture plc; Honeywell International Inc. Etc.

December 11 10:50 2019
Predictive Maintenance Market Size Worth $28.24 Billion By 2025 | Key Players Operating In The Market IBM Corporation; Microsoft Corporation, Accenture plc; Honeywell International Inc. Etc.

Grand View Research, Inc. – Market Research And Consulting.
Growth of the aerospace and defense segment is being driven by the growing demand for effective flight operation and avoidance of mishaps or accidents due to failure of any component within the airplane. Demand for cloud-based predictive maintenance solutions is likely to witness a rise owing to cost-effectiveness and easy maintenance of produced data through these solutions

The global predictive maintenance market size is expected to be valued at USD 28.24 billion by 2025, expanding at a CAGR of 37.9% over the forecast period, according to a study conducted by Grand View Research, Inc. Growing demand for IoT and big data along with rising concerns in the organizations regarding asset maintenance and operational costs is expected to drive the growth. Moreover, deployment of predictive maintenance solutions can help organizations in reducing the downtime costs by accurately predicting asset failures.

The deployment of predictive maintenance solutions is not limited to the manufacturing sector. These solutions are now increasingly being deployed in energy and utilities, IT and telecommunication, and automotive and transportation, among others. Growing adoption of these solution in various sectors is anticipated to support the market growth over the forecast period.

Solution Insights
Based on solution, the predictive maintenance market is segmented into integrated and standalone solutions. The integrated solutions segment is anticipated hold the dominant market share over the forecast period. High demand for integrated solutions can be attributed to the growing need for customized solutions. Moreover, with the growing popularity and awareness about these solutions, the demand for application specific solutions from various industry verticals have increased significantly.

Service Insights
Based on service, the market is segmented into deployment/installation, support and maintenance, and training and consulting services. The deployment/installation services segment is anticipated to dominate the market in the forthcoming years. The demand for cloud-based deployment of the solutions from various industry verticals such as aerospace and defense, automotive and transportation, and energy and utilities is likely to increase over the forecast period. This is expected to further contribute to the segment growth.

U.S. predictive maintenance market size, by solution, 2014 - 2025 (USD Million)

Get Details For “Sample Report, TOC, Segmentation & methodology of Predictive Maintenance Market” Click Link Below: https://www.grandviewresearch.com/industry-analysis/predictive-maintenance-market

Enterprise Size Insights
Large enterprises segment accounted for a major market share in 2018. These enterprises are optimizing and automating their operational maintenance process by using these solutions. Moreover, the cost associated to downtime and assets in large enterprises is very high. To overcome these challenges predictive maintenance solutions are increasingly being deployed in large enterprises across the globe.

Companies operating in the predictive maintenance market are also integrating sensor-based technologies with the predictive maintenance solutions to deliver an efficient solution to users. Additionally, the venders are also investing in R&D of remote maintenance solutions. The remote predictive maintenance solution is anticipated to support the maintenance activities in remote locations and also for unsafe working conditions.

Further key findings from the report suggest:

  • A rise in deployment of customized predictive maintenance solutions is the key trend driving the growth of the integrated segment

  • Training and consulting services segment is expected to reach USD 1,991.8 million by 2025 owing to the growing need for skilled workforce for operating predictive maintenance solutions

  • Demand for cloud-based predictive maintenance solutions is likely to witness a rise owing to cost-effectiveness and easy maintenance of produced data through these solutions

  • Small and medium enterprise segment is projected to witness remarkable growth over the forecast period owing to reduce the operational costs associated with downtimes

  • Growth of the aerospace and defense segment is being driven by the growing demand for effective flight operation and avoidance of mishaps or accidents due to failure of any component within the airplane

  • Asia Pacific predictive maintenance market is anticipated to witness the highest growth owing to rising adoption of deep learning and artificial intelligence technologies in the region

  • Key players operating in the market include IBM Corporation; Microsoft Corporation; SAP ERP; General Electric Company; Siemens AG; Schneider Electric SE; Software AG; Accenture plc; Honeywell International Inc.; and Cisco Systems, Inc.

Would you Like to Take a Look On “Sample Report” of Predictive Maintenance Market Click the Link Below:

https://www.grandviewresearch.com/industry-analysis/predictive-maintenance-market/request/rs1

Asia Pacific predictive maintenance market share, by deployment, 2018 (%)

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/6863/ibb

Grand View Research has segmented the global predictive maintenance market on the basis of solution, service, deployment, enterprise size, end use, and region:

Predictive Maintenance Solution Outlook (Revenue, USD Million, 2014 – 2025)

  • Integrated

  • Standalone

Predictive Maintenance Service Outlook (Revenue, USD Million, 2014 – 2025)

  • Deployment/Installation

  • Support & Maintenance

  • Training & Consulting

Predictive Maintenance Deployment Outlook (Revenue, USD Million, 2014 – 2025)

  • Cloud

  • On-premise

Predictive Maintenance Enterprise Size Outlook (Revenue, USD Million, 2014 – 2025)

  • Small and Medium Enterprises

  • Large Enterprises

Predictive Maintenance End Use Outlook (Revenue, USD Million, 2014 – 2025)

  • Aerospace & Defense

  • Automotive & Transportation

  • Energy & Utilities

  • Healthcare

  • IT & Telecommunication

  • Manufacturing

  • Oil & Gas

  • Others

Predictive Maintenance Region Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/predictive-maintenance-market

  Categories: