IoT brings whole new value to predictive analytics in ways hitherto unimagined by making data more readily available and accessible. An efficient IIoT predictive maintenance architecture involves identifying key variables which determine the health of equipment i.e. temperature, voltage, discharge, lubricating oil viscosity. Condition monitoring sensors are then added to the equipment to gather continuous data pertinent to the parameters identified and relay the same via internet to the cloud server. Sensor data passing onto the cloud need to filtered and reprocessed by physical devices called field gateways. Once filtered and reprocessed, a cloud gateway validates the data for security threats and then provides access to the cloud where the data is pushed to a streaming data processor which accelerates the data’s journey to the storage component called the data lake. From the data lake, the sensor data in its raw unstructured form then moves to the big data warehouse, where the data is cleaned, cleansed and prepared for analysis by machine learning (ML) algorithms. ML algorithms then process the data to uncover hidden correlations in data sets to discover data patterns and anomalies. Predictive models are then built and with AI are trained to predict problems and failure with exploratory analytics that uses various technical assumptions to make a prediction. The United States and Europe represent large markets worldwide with a combined share of 58.4% of the market. China ranks as the fastest growing market with a CAGR of 31.5% over the analysis period supported by the country’s powerful economic planning aimed at enhancing its manufacturing competitiveness as it seeks to integrate into the global manufacturing chain dominated by industrialized economies such as EU, Germany and the United States and move from being a low cost competitor to a direct added-value competitor. At the top of the priority list for China is the migration from a low value added export oriented manufacturing platform to a global industrial power.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Plant Asset Maintenance, the Cornerstone for Achieving Excellence in Manufacturing Productivity
Why Migrate to Predictive Maintenance? What’s In It for Companies?
With Manufacturing Competitiveness Increasing by the Day, PdM is the Right Step Forward Towards to Higher Value, Smart Manufacturing: Global Manufacturing Competitiveness Index (10-100 Index Score) by Country for the Year 2020
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
ABB Limited (Switzerland)
Asystom (France)
Augury (USA)
C3 IoT (USA)
Emerson Electric Co. (USA)
GE Digital (US)
Operational Excellence (OPEX) Group Ltd, (UK)
PTC, Inc. (US)
Rapidminer (USA)
Robert Bosch GmbH (Germany)
Rockwell Automation, Inc. (US)
SAP SE (Germany)
SAS Institute, Inc. (US)
Schneider Electric (France)
Siemens AG (Germany)
Sigma Industrial Precision (Spain)
SparkCognition (USA)
T-Systems International GmbH (Germany)
Thales Group (France)
3. MARKET TRENDS & DRIVERS
The Rise of “Predictive Analytics” Brings the Concept of Predictive Maintenance to Fruition
Applications of Predictive Analytics Expand from Fraud Detection, Personalized Marketing to Asset Management: Global Investments in Predictive Analytics (In US$ Billion) for the Years 2016, 2018, 2020, 2022
Industry 4.0 Pushes Up the Effectiveness of Predictive Maintenance
Market to Witness Unconventional Growth as Effectiveness of Predictive Analytics in Predicting Failure & Maintenance Event Improves on the Back of IIoT: Global Breakdown of Investments in Manufacturing IoT (in US$ Billion) for the Years 2016, 2018, 2020
Sensors Remain a Critical Component of Predictive Maintenance
Data Communication Systems, the Backbone for Successful Predictive Maintenance
AI to Revolutionize Predictive Maintenance
Growing Investments in AI by Manufacturing Companies Will Promote Innovative Uses of AI in Machine Condition Monitoring: Global AI Investments in Manufacturing (In US$ Billion) for the Years 2019, 2022 and 2025
AI Embedded Sensors Vital for Real-Time Fault Detection & Outsmarting Failure
Enabled by AI, Predictive Maintenance Sensors are the Future of Maintenance
Harnessing the Power of Cloud Computing Remains Crucial for Effective Predictive Maintenance
Predictive Maintenance for Medical Devices Grows in Popularity as Hospitals Focus on Enhancing Asset Efficiency
Predictive Maintenance Lies at the Heart of Smart Fleet Management
4. GLOBAL MARKET PERSPECTIVE
TABLE 1: Predictive Maintenance Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027
TABLE 2: Predictive Maintenance Market Share Shift across Key Geographies Worldwide: 2020 VS 2027
TABLE 3: Cloud (Deployment) World Market by Region/Country in US$ Thousand: 2020 to 2027
TABLE 4: Cloud (Deployment) Market Share Breakdown of Worldwide Sales by Region/Country: 2020 VS 2027
TABLE 5: On-Premise (Deployment) Potential Growth Markets Worldwide in US$ Thousand: 2020 to 2027
TABLE 6: On-Premise (Deployment) Market Sales Breakdown by Region/Country in Percentage: 2020 VS 2027
TABLE 7: Solutions (Component) Geographic Market Spread Worldwide in US$ Thousand: 2020 to 2027
TABLE 8: Solutions (Component) Market Share Distribution in Percentage by Region/Country: 2020 VS 2027
TABLE 9: Services (Component) World Market Estimates and Forecasts by Region/Country in US$ Thousand: 2020 to 2027
TABLE 10: Services (Component) Market Share Breakdown by Region/Country: 2020 VS 2027
TABLE 11: Government & Defense (Vertical) Worldwide Latent Demand Forecasts in US$ Thousand by Region/Country: 2020-2027
TABLE 12: Government & Defense (Vertical) Distribution of Global Sales by Region/Country: 2020 VS 2027
TABLE 13: Energy & Utilities (Vertical) Sales Estimates and Forecasts in US$ Thousand by Region/Country for the Years 2020 through 2027
TABLE 14: Energy & Utilities (Vertical) Global Market Share Distribution by Region/Country for 2020 and 2027
TABLE 15: Manufacturing (Vertical) Global Opportunity Assessment in US$ Thousand by Region/Country: 2020-2027
TABLE 16: Manufacturing (Vertical) Percentage Share Breakdown of Global Sales by Region/Country: 2020 VS 2027
TABLE 17: Healthcare (Vertical) Worldwide Sales in US$ Thousand by Region/Country: 2020-2027
TABLE 18: Healthcare (Vertical) Market Share Shift across Key Geographies: 2020 VS 2027
TABLE 19: Transportation & Logistics (Vertical) Global Market Estimates & Forecasts in US$ Thousand by Region/Country: 2020-2027
TABLE 20: Transportation & Logistics (Vertical) Market Share Breakdown by Region/Country: 2020 VS 2027
TABLE 21: Other Verticals (Vertical) Demand Potential Worldwide in US$ Thousand by Region/Country: 2020-2027
TABLE 22: Other Verticals (Vertical) Share Breakdown Review by Region/Country: 2020 VS 2027
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
TABLE 23: Predictive Maintenance Market in US$ Thousand in the United States by Deployment: 2020-2027
TABLE 24: United States Predictive Maintenance Market Share Breakdown by Deployment: 2020 VS 2027
TABLE 25: United States Predictive Maintenance Market Estimates and Projections in US$ Thousand by Component: 2020 to 2027
TABLE 26: United States Predictive Maintenance Market Share Breakdown by Component: 2020 VS 2027
TABLE 27: United States Predictive Maintenance Latent Demand Forecasts in US$ Thousand by Vertical: 2020 to 2027
TABLE 28: Predictive Maintenance Market Share Breakdown in the United States by Vertical: 2020 VS 2027
CANADA
TABLE 29: Predictive Maintenance Market Analysis in Canada in US$ Thousand by Deployment: 2020-2027
TABLE 30: Canadian Predictive Maintenance Market Share Breakdown by Deployment: 2020 VS 2027
TABLE 31: Canadian Predictive Maintenance Market Estimates and Forecasts in US$ Thousand by Component: 2020 to 2027
TABLE 32: Predictive Maintenance Market in Canada: Percentage Share Breakdown of Sales by Component for 2020 and 2027
TABLE 33: Canadian Predictive Maintenance Market Quantitative Demand Analysis in US$ Thousand by Vertical: 2020 to 2027
TABLE 34: Canadian Predictive Maintenance Market Share Analysis by Vertical: 2020 VS 2027
JAPAN
TABLE 35: Japanese Medium & Long-Term Outlook for Predictive Maintenance Market in US$ Thousand by Deployment: 2020-2027
TABLE 36: Japanese Predictive Maintenance Market Percentage Share Distribution by Deployment: 2020 VS 2027
TABLE 37: Japanese Market for Predictive Maintenance: Annual Sales Estimates and Projections in US$ Thousand by Component for the Period 2020-2027
TABLE 38: Japanese Predictive Maintenance Market Share Analysis by Component: 2020 VS 2027
TABLE 39: Japanese Demand Estimates and Forecasts for Predictive Maintenance in US$ Thousand by Vertical: 2020 to 2027
TABLE 40: Predictive Maintenance Market Share Shift in Japan by Vertical: 2020 VS 2027
CHINA
TABLE 41: Predictive Maintenance Market Estimates and Forecasts in China in US$ Thousand by Deployment: 2020-2027
TABLE 42: Predictive Maintenance Market in China: Percentage Share Analysis by Deployment for 2020 and 2027
TABLE 43: Chinese Predictive Maintenance Market Growth Prospects in US$ Thousand by Component for the Period 2020-2027
TABLE 44: Chinese Predictive Maintenance Market by Component: Percentage Breakdown of Sales for 2020 and 2027
TABLE 45: Chinese Demand for Predictive Maintenance in US$ Thousand by Vertical: 2020 to 2027
TABLE 46: Chinese Predictive Maintenance Market Share Breakdown by Vertical: 2020 VS 2027
EUROPE
TABLE 47: European Predictive Maintenance Market Demand Scenario in US$ Thousand by Region/Country: 2018-2025
TABLE 48: European Predictive Maintenance Market Share Shift by Region/Country: 2020 VS 2027
TABLE 49: European Predictive Maintenance Market Assessment in US$ Thousand by Deployment: 2020-2027
TABLE 50: Predictive Maintenance Market in Europe: Percentage Breakdown of Sales by Deployment for 2020 and 2027
TABLE 51: European Predictive Maintenance Market Estimates and Forecasts in US$ Thousand by Component: 2020-2027
TABLE 52: European Predictive Maintenance Market Share Breakdown by Component: 2020 VS 2027
TABLE 53: European Predictive Maintenance Addressable Market Opportunity in US$ Thousand by Vertical: 2020-2027
TABLE 54: European Predictive Maintenance Market Share Analysis by Vertical: 2020 VS 2027
FRANCE
TABLE 55: French Predictive Maintenance Market Estimates and Projections in US$ Thousand by Deployment: 2020-2027
TABLE 56: French Predictive Maintenance Market Share Breakdown by Deployment: 2020 VS 2027
TABLE 57: Predictive Maintenance Market in France by Component: Estimates and Projections in US$ Thousand for the Period 2020-2027
TABLE 58: French Predictive Maintenance Market Share Analysis by Component: 2020 VS 2027
TABLE 59: Predictive Maintenance Quantitative Demand Analysis in France in US$ Thousand by Vertical: 2020-2027
TABLE 60: French Predictive Maintenance Market Share Analysis: A 7-Year Perspective by Vertical for 2020 and 2027
GERMANY
TABLE 61: German Predictive Maintenance Latent Demand Forecasts in US$ Thousand by Deployment: 2020-2027
TABLE 62: German Predictive Maintenance Market Share Breakdown by Deployment: 2020 VS 2027
TABLE 63: Predictive Maintenance Market in Germany: Recent Past, Current and Future Analysis in US$ Thousand by Component for the Period 2020-2027
TABLE 64: German Predictive Maintenance Market Share Breakdown by Component: 2020 VS 2027
TABLE 65: Predictive Maintenance Market in Germany: Annual Sales Estimates and Forecasts in US$ Thousand by Vertical for the Period 2020-2027
TABLE 66: Predictive Maintenance Market Share Distribution in Germany by Vertical: 2020 VS 2027
ITALY
TABLE 67: Predictive Maintenance Market Estimates and Forecasts in Italy in US$ Thousand by Deployment: 2020-2027
TABLE 68: Predictive Maintenance Market in Italy: Percentage Share Analysis by Deployment for 2020 and 2027
TABLE 69: Italian Predictive Maintenance Market Growth Prospects in US$ Thousand by Component for the Period 2020-2027
TABLE 70: Italian Predictive Maintenance Market by Component: Percentage Breakdown of Sales for 2020 and 2027
TABLE 71: Italian Demand for Predictive Maintenance in US$ Thousand by Vertical: 2020 to 2027
TABLE 72: Italian Predictive Maintenance Market Share Breakdown by Vertical: 2020 VS 2027
UNITED KINGDOM
TABLE 73: United Kingdom Medium & Long-Term Outlook for Predictive Maintenance Market in US$ Thousand by Deployment: 2020-2027
TABLE 74: United Kingdom Predictive Maintenance Market Percentage Share Distribution by Deployment: 2020 VS 2027
TABLE 75: United Kingdom Market for Predictive Maintenance: Annual Sales Estimates and Projections in US$ Thousand by Component for the Period 2020-2027
TABLE 76: United Kingdom Predictive Maintenance Market Share Analysis by Component: 2020 VS 2027
TABLE 77: United Kingdom Demand Estimates and Forecasts for Predictive Maintenance in US$ Thousand by Vertical: 2020 to 2027
TABLE 78: Predictive Maintenance Market Share Shift in the United Kingdom by Vertical: 2020 VS 2027
REST OF EUROPE
TABLE 79: Rest of Europe Predictive Maintenance Market Assessment in US$ Thousand by Deployment: 2020-2027
TABLE 80: Predictive Maintenance Market in Rest of Europe: Percentage Breakdown of Sales by Deployment for 2020 and 2027
TABLE 81: Rest of Europe Predictive Maintenance Market Estimates and Forecasts in US$ Thousand by Component: 2020-2027
TABLE 82: Rest of Europe Predictive Maintenance Market Share Breakdown by Component: 2020 VS 2027
TABLE 83: Rest of Europe Predictive Maintenance Addressable Market Opportunity in US$ Thousand by Vertical: 2020-2027
TABLE 84: Rest of Europe Predictive Maintenance Market Share Analysis by Vertical: 2020 VS 2027
ASIA-PACIFIC
TABLE 85: Asia-Pacific Predictive Maintenance Market Estimates and Projections in US$ Thousand by Deployment: 2020-2027
TABLE 86: Asia-Pacific Predictive Maintenance Historic Market Analysis in US$ Thousand by Deployment: 2020 VS 2027
TABLE 87: Predictive Maintenance Market in Asia-Pacific by Component: Estimates and Projections in US$ Thousand for the Period 2020-2027
TABLE 88: Asia-Pacific Predictive Maintenance Market Share Analysis by Component: 2020 VS 2027
TABLE 89: Predictive Maintenance Quantitative Demand Analysis in Asia-Pacific in US$ Thousand by Vertical: 2020-2027
TABLE 90: Asia-Pacific Predictive Maintenance Market Share Analysis: A 7-Year Perspective by Vertical for 2020 and 2027
REST OF WORLD
TABLE 91: Predictive Maintenance Market Analysis in Rest of World in US$ Thousand by Deployment: 2020-2027
TABLE 92: Rest of World Predictive Maintenance Market Share Breakdown by Deployment: 2020 VS 2027
TABLE 93: Rest of World Predictive Maintenance Market Estimates and Forecasts in US$ Thousand by Component: 2020 to 2027
TABLE 94: Predictive Maintenance Market in Rest of World: Percentage Share Breakdown of Sales by Component for 2020 and 2027
TABLE 95: Rest of World Predictive Maintenance Market Quantitative Demand Analysis in US$ Thousand by Vertical: 2020 to 2027
TABLE 96: Rest of World Predictive Maintenance Market Share Analysis by Vertical: 2020 VS 2027
IV. COMPETITION
Total Companies Profiled: 58
