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Predictive Maintenance Market by Component (Solutions and Services), Deployment Mode, Organization Size, Vertical (Government and Defense, Manufacturing, Energy and Utilities, Transportation and Logistics), and Region - Global Forecast to 2024

  • ID: 4790743
  • Report
  • Region: Global
  • 145 Pages
  • Markets and Markets
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The Global Predictive Maintenance Market Size to Grow at a CAGR of 28.8% During the Forecast Period

FEATURED COMPANIES

  • Asystom
  • Ecolibrium Energy
  • Hitachi
  • OPEX Group
  • SAS
  • Softweb Solutions
  • MORE

The global predictive maintenance market size is forecasted to grow from USD 3.0 billion in 2019 to USD 10.7 billion by 2024. The major growth drivers of the predictive maintenance market include the increasing use of emerging technologies to gain valuable insights. A lack of a skilled workforce may restrain the growth of the predictive maintenance market.
The services segment to grow at a higher CAGR during the forecast period

The predictive maintenance market is segmented on the basis of components, such as solutions and services. The services segment is expected to grow at a rapid pace during the forecast period. An efficient predictive maintenance service help organizations develop a connected environment by integrating a predictive maintenance solution with their existing IT infrastructure.

The energy and utility segment to grow at the highest CAGR during the forecast period

The predictive maintenance market by vertical has been segmented into government and defense, manufacturing, energy and utilities, transportation and logistics, health and life sciences and others (agriculture, telecom, media, and retail). The energy and utility segment to grow at the highest CAGR during the forecast period, due to the growing demand for automated power-usage analytics applications.

Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period

APAC is expected to grow at the highest CAGR during the forecast period. The increasing investments by the tech companies in major APAC countries, such as China, and Japan, increasing government regulations and initiatives are expected to drive the growth of the market in APAC.

In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the predictive maintenance market.

  • By Company: Tier I: 15%, Tier II: 42%, and Tier III: 43%
  • By Designation: C-Level: 62%, Director-Level: 20%, and Others: 18%
  • By Region: North America: 40%, APAC: 30%, Europe: 20%, MEA: 5%, and Latin America: 5%

The report includes the study of the key players offering predictive maintenance solutions and services. It profiles major vendors in the global predictive maintenance market. The major vendors include IBM (US), Microsoft (US), SAP (Germany), GE (US), Schneider Electric (France), Hitachi (Japan), PTC (US), Software AG (Germany), SAS (US), TIBCO (US), C3 IoT (US), Uptake (US), Softweb Solutions (US), Asystom (France), Ecolibrium Energy (India), Fiix (Canada), OPEX Group (UK), Dingo (Australia), Sigma Industrial Precision (Spain). It also includes an in-depth competitive analysis of the key players in the predictive maintenance market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.

Research coverage

The report segments the global predictive maintenance market by component, solution, service, deployment mode, organization size, and region. The predictive maintenance market by vertical is divided into government and defense, manufacturing, energy and utilities, transportation and logistics, health and life sciences and others (agriculture, telecom, media, and retail) categories. The component segment comprises solutions and services. The solutions segment is further segmented into integrated solutions and standalone solutions. The services segment is divided into system integration, support and maintenance, and consulting services. The predictive maintenance market by deployment mode is segmented into cloud and on-premises. Based on organization size, the predictive maintenance market is divided into large enterprises and Small and Medium-sized Enterprises (SMEs). The report also covers the predictive maintenance market with respect to five major regions: North America, Europe, APAC, Latin America, and the Middle East & Africa (MEA).

The report will help the market leaders and new entrants in the global predictive maintenance market in the following ways:

  • The report segments the market into various subsegments; hence, it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are split further across verticals and regions.
  • It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
  • It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Asystom
  • Ecolibrium Energy
  • Hitachi
  • OPEX Group
  • SAS
  • Softweb Solutions
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Assumptions for the Study
2.6 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Predictive Maintenance Market
4.2 Market Top 3 Verticals
4.3 Market By Region
4.4 Market in North America, By Component and Deployment Mode

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Use of Emerging Technologies to Gain Valuable Insights
5.2.1.2 Growing Need to Reduce Maintenance Cost and Downtime
5.2.2 Restraints
5.2.2.1 Lack of Skilled Workforce
5.2.3 Opportunities
5.2.3.1 Real-Time Condition Monitoring to Assist in Taking Prompt Actions
5.2.4 Challenges
5.2.4.1 Companies’ Concern Over Data Security and Privacy Issues
5.2.4.2 Frequent Maintenance and Upgradation Requirement to Keep Systems Updated
5.3 Use Cases
5.3.1 Introduction
5.3.1.1 Use Case: Scenario 1
5.3.1.2 Use Case: Scenario 2
5.3.1.3 Use Case: Scenario 3
5.3.1.4 Use Case: Scenario 4
5.3.1.5 Use Case: Scenario 5
5.4 Regulatory Implications
5.4.1 Introduction
5.4.2 General Data Protection Regulation
5.4.3 Health Insurance Portability and Accountability Act
5.4.4 Federal Trade Commission
5.4.5 Federal Communications Commission
5.4.6 Iso/IEC Standards
5.4.6.1 ISO 55000 Standards
5.4.6.2 ISO 13374 on Condition Monitoring and Diagnostics of Machines
5.4.6.3 ISO/IEC JTC 1
5.4.6.4 ISO/IEC JTC 1/SC 42
5.4.6.5 ISO/IEC JTC1/SC3 1
5.4.6.6 ISO/IEC JTC1/SC2 7
5.4.7 Industrial Internet Consortium Reference Architecture
5.4.8 CEN/ISO
5.4.8.1 CEN/Cenelec
5.4.9 National Institute of Standards and Technology
5.4.10 Eprivacy
5.4.11 ANSI Tappi Tip 0305-34:2008
5.4.12 Mimosa

6 Predictive Maintenance Market By Component
6.1 Introduction
6.2 Solutions
6.2.1 Integrated
6.2.1.1 Growing Adoption of the Integrated Solution as It Integrates Multiple Capabilities Within A Single Solution
6.2.2 Standalone
6.2.2.1 Increasing Demand for Advanced and Vertical-Focused Predictive Maintenance Capabilities to Drive the Growth of Standalone Solutions
6.3 Services
6.3.1 System Integration
6.3.1.1 Predictive Maintenance Vendors to Offer System Integration Services to Overcome System-Related Issues Effectively
6.3.2 Support and Maintenance
6.3.2.1 Growing Deployment of Predictive Maintenance Solution to Increase the Demand for Support and Maintenance Services
6.3.3 Consulting
6.3.3.1 Technicalities Involved in Implementing Predictive Maintenance Solution to Boost the Growth of Consulting Services

7 Predictive Maintenance Market By Deployment Mode
7.1 Introduction
7.2 Cloud
7.2.1 Benefits, Such as Scalability and Ease of Implementation, to Boost the Growth of the Cloud Deployment Mode
7.3 On-Premises
7.3.1 Data-Sensitive Organizations to Adopt the On-Premises Deployment Mode for Predictive Maintenance Solutions

8 Predictive Maintenance Market By Organization Size
8.1 Introduction
8.2 Large Enterprises
8.2.1 Large Enterprises to Adopt Predictive Maintenance Solutions to Optimize Operational Maintenance Processes
8.3 Small and Medium-Sized Enterprises
8.3.1 Small and Medium-Sized Enterprises to Adopt Predictive Maintenance Solutions With Rising Technological Advancement

9 Predictive Maintenance Market By Vertical
9.1 Introduction
9.2 Government and Defense
9.2.1 Government and Defense Vertical to Adopt Predictive Maintenance Solutions for Automating the Defense System
9.3 Manufacturing
9.3.1 Growing Need to Track, Diagnose, and Monitor Machines to Fuel the Growth of the Predictive Maintenance Application in the Manufacturing Vertical
9.4 Energy and Utilities
9.4.1 the Growing Demand of Power-Usage Analytics Applications Fuel the Growth of Energy and Utilities Vertical
9.5 Transportation and Logistics
9.5.1 Increasing Need to Improve Asset Tracking and Performance Management for Minimizing Risks Lead to Growth in Transportation and Logistics Vertical
9.6 Healthcare and Life Sciences
9.6.1 Growing Demand for Monitoring Patient Health and Personalized Treatment in Real Time to Fuel the Growth of Healthcare and Life Sciences Vertical
9.7 Others

10 Predictive Maintenance Market By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Need to Extract Maximum Value From Smart Devices to Fuel the Demand for Predictive Maintenance Solutions in the US
10.2.2 Canada
10.2.2.1 Increase in Investments and Research Activities to Drive Predictive Maintenance Adoption in Canada
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Government Focus on Innovation and Research to Fuel the Adoption of Predictive Maintenance Solutions in the UK
10.3.2 Germany
10.3.2.1 Skilled Workforce, Strong Infrastructure, and Increase in Investments to Drive the Predictive Maintenance Adoption in Germany
10.3.3 France
10.3.3.1 Focus on R&D and Heavy Inflow of Capital From Global Players and Investors to Drive the Market in France
10.3.4 Italy
10.3.4.1 Increasing Adoption of New Technologies and Innovations to Drive the Market in Italy
10.3.5 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Increasing Focus on Integrating AI and Deep Learning Technologies to Drive the Adoption of Predictive Maintenance Solutions in China
10.4.2 Japan
10.4.2.1 Increasing Government Initiatives, LED to the Potential Growth for Predictive Maintenance in Japan
10.4.3 Rest of Asia Pacific
10.5 Middle East and Africa
10.5.1 Israel
10.5.1.1 Presence of IoT and AI Software Vendors to Lead the Adoption of Predictive Maintenance Solutions
10.5.2 UAE
10.5.2.1 Complex Legal, Regulatory, and Economic Resolutions to Compel Organizations to Adopt Predictive Maintenance Solutions
10.5.3 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Brazil Embraces the Digital Age With A Shift Toward Industry 4.0
10.6.2 Mexico
10.6.2.1 Mexico to Witness the Highest Growth Rate in the Market in the Coming Years
10.6.3 Rest of Latin America

11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping
11.2.1 Visionaries
11.2.2 Innovators
11.2.3 Dynamic Differentiators
11.2.4 Emerging Companies
11.3 Strength of Product Portfolio
11.4 Business Strategy Excellence
11.5 Competitive Leadership Mapping (Startups)
11.5.1 Progressive Companies
11.5.2 Responsive Companies
11.5.3 Dynamic Companies
11.5.4 Starting Blocks
11.6 Strength of Product Portfolio (Startups)
11.7 Business Strategy Excellence (Startups)

12 Company Profiles
12.1 Introduction
Business Overview, Products/Services/Platforms Offered, Recent Developments, SWOT Analysis, and Author's View
12.2 IBM
12.3 Microsoft
12.4 SAP
12.5 GE
12.6 Schneider Electric
12.7 Hitachi
12.8 PTC
12.9 Software AG
12.10 SAS
12.11 TIBCO
Business Overview, Products/Services/Platforms Offered, Recent Developments, SWOT Analysis, and Author's View Might Not Be Captured in Case of Unlisted Companies.
12.12 C3 IoT
12.13 Uptake
12.14 Softweb Solutions
12.15 Asystom
12.16 Ecolibrium Energy
12.17 Fiix
12.18 OPEX Group
12.19 Dingo
12.20 Sigma Industrial Precision

13 Appendix
13.1 Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

List of Tables (45 Tables)

Table 1 United States Dollar Exchange Rate, 2015-2017
Table 2 Factor Analysis
Table 3 Global Market Size and Growth Rate, 2017-2024 (USD Million, Y-O-Y %)
Table 4 Predictive Maintenance Market Size, By Component, 2017-2024 (USD Million)
Table 5 Solutions: Market Size By Type, 2017-2024 (USD Million)
Table 6 Services: Market Size By Type, 2017-2024 (USD Million)
Table 7 Market Size By Deployment Mode, 2017-2024 (USD Million)
Table 8 Market Size By Organization Size, 2017-2024 (USD Million)
Table 9 Market Size By Vertical, 2017-2024 (USD Million)
Table 10 Predictive Maintenance Market Size, By Region, 2017-2024 (USD Million)
Table 11 North America: Market Size By Component, 2017-2024 (USD Million)
Table 12 North America: Market Size By Solution, 2017-2024 (USD Million)
Table 13 North America: Market Size By Service, 2017-2024 (USD Million)
Table 14 North America: Market Size By Deployment Mode, 2017-2024 (USD Million)
Table 15 North America: Market By Organization Size, 2017-2024 (USD Million)
Table 16 North America: Market Size By Vertical, 2017-2024 (USD Million)
Table 17 North America: Market Size By Country, 2017-2024 (USD Million)
Table 18 Europe: Predictive Maintenance Market Size, By Component, 2017-2024 (USD Million)
Table 19 Europe: Market Size By Solution, 2017-2024 (USD Million)
Table 20 Europe: Market Size By Service, 2017-2024 (USD Million)
Table 21 Europe: Market Size By Deployment Mode, 2017-2024 (USD Million)
Table 22 Europe: Market Size By Organization Size, 2017-2024 (USD Million)
Table 23 Europe: Market Size By Vertical, 2017-2024 (USD Million)
Table 24 Europe: Market Size By Country, 2017-2024 (USD Million)
Table 25 Asia Pacific: Predictive Maintenance Market Size, By Component, 2017-2024 (USD Million)
Table 26 Asia Pacific: Market Size By Solution, 2017-2024 (USD Million)
Table 27 Asia Pacific: Market Size By Service, 2017-2024 (USD Million)
Table 28 Asia Pacific: Market Size By Deployment Mode, 2017-2024 (USD Million)
Table 29 Asia Pacific: Market Size By Organization Size, 2017-2024 (USD Million)
Table 30 Asia Pacific: Market Size By Vertical, 2017-2024 (USD Million)
Table 31 Asia Pacific: Market Size By Country, 2017-2024 (USD Million)
Table 32 Middle East and Africa: Predictive Maintenance Market Size, By Component, 2017-2024 (USD Million)
Table 33 Middle East and Africa: Market Size By Solution, 2017-2024 (USD Million)
Table 34 Middle East and Africa: Market Size By Service, 2017-2024 (USD Million)
Table 35 Middle East and Africa: Market Size By Deployment Mode, 2017-2024 (USD Million)
Table 36 Middle East and Africa: Market Size By Organization Size, 2017-2024 (USD Million)
Table 37 Middle East and Africa: Market Size By Vertical, 2017-2024 (USD Million)
Table 38 Middle East and Africa: Market Size By Country, 2017-2024 (USD Million)
Table 39 Latin America: Predictive Maintenance Market Size, By Component, 2017-2024 (USD Million)
Table 40 Latin America: Market Size By Solution, 2017-2024 (USD Million)
Table 41 Latin America: Market Size By Service, 2017-2024 (USD Million)
Table 42 Latin America: Market Size By Deployment Mode, 2017-2024 (USD Million)
Table 43 Latin America: Market Size By Organization Size, 2017-2024 (USD Million)
Table 44 Latin America: Market Size By Vertical, 2017-2024 (USD Million)
Table 45 Latin America: Market Size By Country, 2017-2024 (USD Million)

List of Figures (46 Figures)

Figure 1 Global Predictive Maintenance Market: Research Design
Figure 2 Market: Top-Down and Bottom-Up Approaches
Figure 3 Market Snapshot By Component
Figure 4 Market Snapshot By Solution
Figure 5 Market Snapshot By Service
Figure 6 Market Snapshot By Deployment Mode
Figure 7 Market Snapshot By Organization Size
Figure 8 Market Snapshot By Vertical
Figure 9 Market Snapshot By Region
Figure 10 Real-Time Conditioning Monitoring to Take Prompt Action is One of the Major Factors Driving the Overall Growth of the Predictive Maintenance Market During the Forecast Period
Figure 11 Energy and Utilities Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 12 North America to Hold the Highest Market Share in 2019
Figure 13 Solutions Component and On-Premises Deployment Mode in North America Accounted for the Highest Shares in the Market in 2019
Figure 14 Drivers, Restraints, Opportunities, and Challenges: Predictive Maintenance Market
Figure 15 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 16 Standalone Solution Segment to Grow at A Higher CAGR During the Forecast Period
Figure 17 Support and Maintenance Segment to Grow at the Highest CAGR During the Forecast Period
Figure 18 Cloud Segment to Witness A Higher CAGR During the Forecast Period
Figure 19 Small and Medium-Sized Enterprises Segment to Register A Higher CAGR During the Forecast Period
Figure 20 Energy and Utilities Vertical to Witness the Highest CAGR During the Forecast Period
Figure 21 North America to Hold the Largest Market Size During the Forecast Period
Figure 22 Japan to Hold the Highest CAGR During the Forecast Period
Figure 23 Asia Pacific to Hold the Highest CAGR During the Forecast Period
Figure 24 North America: Market Snapshot
Figure 25 Energy and Utilities to Grow at the Highest CAGR During the Forecast Period
Figure 26 Energy and Utilities Vertical to Grow at the Highest CAGR During the Forecast Period in Europe
Figure 27 Asia Pacific: Market Snapshot
Figure 28 Energy and Utilities Vertical to Grow at the Highest CAGR During the Forecast Period in Asia Pacific
Figure 29 Energy and Utilities Vertical to Grow at the Highest CAGR During the Forecast Period in Middle East and Africa
Figure 30 Energy and Utilities Vertical to Grow at Highest CAGR During the Forecast Period in Latin America
Figure 31 Predictive Maintenance Market (Global), Competitive Leadership Mapping, 2018
Figure 32 Key Players of the Market 2018
Figure 33 Predictive Maintenance Market (Global), Competitive Leadership Mapping, for Startups, 2018
Figure 34 IBM: Company Snapshot
Figure 35 SWOT Analysis: IBM
Figure 36 Microsoft: Company Snapshot
Figure 37 SWOT Analysis: Microsoft
Figure 38 SAP: Company Snapshot
Figure 39 SWOT Analysis: SAP
Figure 40 GE: Company Snapshot
Figure 41 SWOT Analysis: GE
Figure 42 Schneider Electric: Company Snapshot
Figure 43 SWOT Analysis: Schneider Electric
Figure 44 Hitachi: Company Snapshot
Figure 45 PTC: Company Snapshot
Figure 46 Software AG: Company Snapshot

Note: Product cover images may vary from those shown
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  • Asystom
  • C3 IoT
  • Dingo
  • Ecolibrium Energy
  • Fiix
  • GE
  • Hitachi
  • IBM
  • Microsoft
  • OPEX Group
  • PTC
  • SAP
  • SAS
  • Schneider Electric
  • Sigma Industrial Precision
  • Software AG
  • Softweb Solutions
  • TIBCO
  • Uptake
Note: Product cover images may vary from those shown
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