The APAC predictive maintenance market is expected to grow from US$ 1,656.84 million in 2022 to US$ 7,378.17 million by 2028. It is estimated to grow at a CAGR of 28.3% from 2022 to 2028.
Growing Industrialization Across APAC
Predictive maintenance will be as important as enterprise resource planning (ERP) to industrial organizations in the future due to the growing equipment performance commensurate with demonstrating best practices, adhering to industry standards, and generating a competitive advantage over the others. Currently, Asia Pacific is leading the race of industrialization. China, India, and other major countries in the region are leading the way to become the next manufacturing hub across the world. The recent Production Linked Incentives (PLIs) are attracting reputed global manufacturers for long-term investment in India. Under these PLIs, market vendors can manufacture for domestic and international markets. The Indian government applied these incentives to 14 sectors, from which telecoms, electronic equipment, and automobiles are already benefiting. It gives local and global predictive maintenance vendors an opportunity to scale up and introduce cost-effective innovation. Additionally, several countries across the region have been focusing on increasing their industrial output to reduce their dependency on imports from other countries. Hence, the growing industrialization coupled with increasing government initiatives is expected to create lucrative opportunities for the predictive maintenance vendors across the region during the forecast period.Market Overview
The APAC constitutes major countries such as Australia, China, India, Japan, South Korea, and rest of APAC. The growing boom for adopting advanced technology in APAC region across various industrial applications is expected to drive the market growth over the coming years. Every vertical industry needs improved asset management, boosting the demand for predictive maintenance solutions. Solution providers equipped with machine learning (ML) and artificial intelligence (AI) can achieve meaningful insights from the vast amount of customer-related data generated by IoT and other connected devices. The key players in the market are engaged in providing advanced technology integrated with IoT and AI for providing predictive maintenance. For instance, in January 2022, Nanoprecise Sci Corp, an end-to-end predictive maintenance solutions provider, announced its new distribution partnership agreement with Dynelec, an engineering & reliability company that supports the Australian mining and industrial & utility segments. Nanoprecise Sci Corp facilitates the implementation of AI-based Predictive & Prescriptive Maintenance Solutions. Similarly, in March 2022, Wabtec Corporation was awarded a contract from the Central Organization for Modernization of Workshops (COFMOW), Indian Railways, for its Online Monitoring of Rolling Stock (OMRS) project. It supports the 'Smart Yard' initiative, which will showcase the next generation of condition-based predictive maintenance technologies. The growing advancement in technology is further augmenting the number of contracts for predictive maintenance, which is significantly helpful for improving the efficiency and operation across various industries that drive the market growth.APAC Predictive Maintenance Market Segmentation
The APAC predictive maintenance market is segmented based on component, deployment type, technique, industry, and country.- Based on component, the APAC predictive maintenance market is bifurcated into solutions and services. The solutions segment held a larger market share in 2022.
- Based on deployment type, the APAC predictive maintenance market is bifurcated into cloud and on-premise. The cloud segment held a larger market share in 2022.
- Based on technique, the APAC predictive maintenance market is segmented into vibration monitoring, electrical testing, oil analysis, ultrasonic leak detectors, shock pulse, infrared, and others. The vibration monitoring segment held the largest market share in 2022.
- Based on industry, the APAC predictive maintenance market is segmented into manufacturing, energy & utilities, aerospace & defense, transportation & logistics, oil & gas, and others. The manufacturing segment held the largest market share in 2022.
- Based on country, the APAC predictive maintenance market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of APAC. Our regional analysis states that China dominated the market share in 2022.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Predictive Maintenance Market - By Component
1.3.2 APAC Predictive Maintenance Market - By Deployment Type
1.3.3 APAC Predictive Maintenance Market - By Technique
1.3.4 APAC Predictive Maintenance Market - By Industry
1.3.5 APAC Predictive Maintenance Market - By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Predictive Maintenance Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Predictive Maintenance Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Prevalence of Industry 4.0
5.1.2 Increasing Focus on Energy Inspections across Industries
5.2 Market Restraints
5.2.1 High Installation Cost
5.3 Market Opportunities
5.3.1 Growing Industrialization Across the Region
5.4 Future Trends
5.4.1 Automation through Incorporation of AI and ML
5.5 Impact Analysis of Drivers and Restraints
6. Predictive Maintenance Market - APAC Analysis
6.1 APAC Predictive Maintenance Market Overview
6.2 APAC Predictive Maintenance Market - Revenue and Forecast to 2028 (US$ Million)
7. APAC Predictive Maintenance Market Analysis - By Component
7.1 Overview
7.2 APAC Predictive Maintenance Market, By Component (2021 and 2028)
7.3 Solutions
7.3.1 Overview
7.3.2 Solutions: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
8. APAC Predictive Maintenance Market Analysis - By Deployment Type
8.1 Overview
8.2 APAC Predictive Maintenance Market, By Deployment Type (2021 and 2028)
8.3 Cloud
8.3.1 Overview
8.3.2 Cloud: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
8.4 On-Premise
8.4.1 Overview
8.4.2 On-Premise: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
9. APAC Predictive Maintenance Market Analysis - By Technique
9.1 Overview
9.2 APAC Predictive Maintenance Market, By Technique (2021 and 2028)
9.3 Vibration Monitoring
9.3.1 Overview
9.3.2 Vibration Monitoring: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
9.4 Electrical Testing
9.4.1 Overview
9.4.2 Electrical Testing: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
9.5 Oil Analysis
9.5.1 Overview
9.5.2 Oil Analysis: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
9.6 Ultrasonic Leak Detectors
9.6.1 Overview
9.6.2 Ultrasonic Leak Detectors: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
9.7 Shock Pulse
9.7.1 Overview
9.7.2 Shock Pulse: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
9.8 Infrared
9.8.1 Overview
9.8.2 Infrared: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
9.9 Others
9.9.1 Overview
9.9.2 Others: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
10. APAC Predictive Maintenance Market Analysis - By Industry
10.1 Overview
10.2 APAC Predictive Maintenance Market Breakdown, By Industry, 2021 & 2028
10.3 Manufacturing
10.3.1 Overview
10.3.2 Manufacturing: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
10.4 Energy & Utilities
10.4.1 Overview
10.4.2 Energy & Utilities: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
10.5 Aerospace & Defense
10.5.1 Overview
10.5.2 Aerospace & Defense: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
10.6 Transportation & Logistics
10.6.1 Overview
10.6.2 Transportation & Logistics: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
10.7 Oil & Gas
10.7.1 Overview
10.7.2 Oil & Gas: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
10.8 Others
10.8.1 Overview
10.8.2 Others: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
11. APAC Predictive Maintenance Market - Country Analysis
11.1 Overview
11.1.1 APAC Predictive Maintenance Market Breakdown, by Country
11.1.1.1 Australia Predictive Maintenance Market, Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Australia Predictive Maintenance Market Breakdown, By Component
11.1.1.1.2 Australia Predictive Maintenance Market Breakdown, By Deployment Type
11.1.1.1.3 Australia Predictive Maintenance Market Breakdown, By Technique
11.1.1.1.4 Australia Predictive Maintenance Market Breakdown, By Industry
11.1.1.2 China Predictive Maintenance Market, Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 China Predictive Maintenance Market Breakdown, By Component
11.1.1.2.2 China Predictive Maintenance Market Breakdown, By Deployment Type
11.1.1.2.3 China Predictive Maintenance Market Breakdown, By Technique
11.1.1.2.4 China Predictive Maintenance Market Breakdown, By Industry
11.1.1.3 India Predictive Maintenance Market, Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 India Predictive Maintenance Market Breakdown, By Component
11.1.1.3.2 India Predictive Maintenance Market Breakdown, By Deployment Type
11.1.1.3.3 India Predictive Maintenance Market Breakdown, By Technique
11.1.1.3.4 India Predictive Maintenance Market Breakdown, By Industry
11.1.1.4 Japan Predictive Maintenance Market, Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Japan Predictive Maintenance Market Breakdown, By Component
11.1.1.4.2 Japan Predictive Maintenance Market Breakdown, By Deployment Type
11.1.1.4.3 Japan Predictive Maintenance Market Breakdown, By Technique
11.1.1.4.4 Japan Predictive Maintenance Market Breakdown, By Industry
11.1.1.5 South Korea Predictive Maintenance Market, Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 South Korea Predictive Maintenance Market Breakdown, By Component
11.1.1.5.2 South Korea Predictive Maintenance Market Breakdown, By Deployment Type
11.1.1.5.3 South Korea Predictive Maintenance Market Breakdown, By Technique
11.1.1.5.4 South Korea Predictive Maintenance Market Breakdown, By Industry
11.1.1.6 Rest of APAC Predictive Maintenance Market, Revenue and Forecast to 2028 (US$ Million)
11.1.1.6.1 Rest of APAC Predictive Maintenance Market Breakdown, By Component
11.1.1.6.2 Rest of APAC Predictive Maintenance Market Breakdown, By Deployment Type
11.1.1.6.3 Rest of APAC Predictive Maintenance Market Breakdown, By Technique
11.1.1.6.4 Rest of APAC Predictive Maintenance Market Breakdown, By Industry
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Launch
12.4 Merger and Acquisition
13. Company Profiles
13.1 General Electric Company
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Hitachi, Ltd.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 IBM Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Microsoft Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 PTC Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 SAS Institute, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Schneider Electric SE
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Software AG
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Syncron AB
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Word Index
List of Tables
Table 1. APAC Predictive Maintenance Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC Predictive Maintenance Market, Revenue and Forecast To 2028 - By Country (US$ Million)
Table 3. Australia Predictive Maintenance Market, Revenue and Forecast to 2028 - By Component (US$ Million)
Table 4. Australia Predictive Maintenance Market, Revenue and Forecast to 2028 - By Deployment Type (US$ Million)
Table 5. Australia Predictive Maintenance Market, Revenue and Forecast to 2028 - By Technique (US$ Million)
Table 6. Australia Predictive Maintenance Market, Revenue and Forecast to 2028 - By Industry (US$ Million)
Table 7. China Predictive Maintenance Market, Revenue and Forecast to 2028 - By Component (US$ Million)
Table 8. China Predictive Maintenance Market, Revenue and Forecast to 2028 - By Deployment Type (US$ Million)
Table 9. China Predictive Maintenance Market, Revenue and Forecast to 2028 - By Technique (US$ Million)
Table 10. China Predictive Maintenance Market, Revenue and Forecast to 2028 - By Industry (US$ Million)
Table 11. India Predictive Maintenance Market, Revenue and Forecast to 2028 - By Component (US$ Million)
Table 12. India Predictive Maintenance Market, Revenue and Forecast to 2028 - By Deployment Type (US$ Million)
Table 13. India Predictive Maintenance Market, Revenue and Forecast to 2028 - By Technique (US$ Million)
Table 14. India Predictive Maintenance Market, Revenue and Forecast to 2028 - By Industry (US$ Million)
Table 15. Japan Predictive Maintenance Market, Revenue and Forecast to 2028 - By Component (US$ Million)
Table 16. Japan Predictive Maintenance Market, Revenue and Forecast to 2028 - By Deployment Type (US$ Million)
Table 17. Japan Predictive Maintenance Market, Revenue and Forecast to 2028 - By Technique (US$ Million)
Table 18. Japan Predictive Maintenance Market, Revenue and Forecast to 2028 - By Industry (US$ Million)
Table 19. South Korea Predictive Maintenance Market, Revenue and Forecast to 2028 - By Component (US$ Million)
Table 20. South Korea Predictive Maintenance Market, Revenue and Forecast to 2028 - By Deployment Type (US$ Million)
Table 21. South Korea Predictive Maintenance Market, Revenue and Forecast to 2028 - By Technique (US$ Million)
Table 22. South Korea Predictive Maintenance Market, Revenue and Forecast to 2028 - By Industry (US$ Million)
Table 23. Rest of APAC Predictive Maintenance Market, Revenue and Forecast to 2028 - By Component (US$ Million)
Table 24. Rest of APAC Predictive Maintenance Market, Revenue and Forecast to 2028 - By Deployment Type (US$ Million)
Table 25. Rest of APAC Predictive Maintenance Market, Revenue and Forecast to 2028 - By Technique (US$ Million)
Table 26. Rest of APAC Predictive Maintenance Market, Revenue and Forecast to 2028 - By Industry (US$ Million)
Table 27. List of Abbreviation
List of Figures
Figure 1. APAC Predictive Maintenance Market Segmentation
Figure 2. APAC Predictive Maintenance Market Segmentation - By Country
Figure 3. APAC Predictive Maintenance Market Overview
Figure 4. APAC Predictive Maintenance Market, By Component
Figure 5. APAC Predictive Maintenance Market, By Country
Figure 6. APAC: PEST Analysis
Figure 7. Expert Opinion
Figure 8. APAC Predictive Maintenance Market Impact Analysis of Drivers and Restraints
Figure 9. APAC Predictive Maintenance Market - Revenue and Forecast to 2028 (US$ Million)
Figure 10. APAC Predictive Maintenance Market Revenue Share, By Component (2021 and 2028)
Figure 11. APAC Solutions: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 12. APAC Services: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Predictive Maintenance Market Revenue Share, By Deployment Type (2021 and 2028)
Figure 14. APAC Cloud: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC On-Premise: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Predictive Maintenance Market Revenue Share, By Technique (2021 and 2028)
Figure 17. APAC Vibration Monitoring: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC Electrical Testing: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC Oil Analysis: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC Ultrasonic Leak Detectors: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 21. APAC Shock Pulse: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 22. APAC Infrared: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 23. APAC Others: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 24. APAC Predictive Maintenance Market Breakdown, By Industry (2021 and 2028)
Figure 25. APAC Manufacturing: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 26. APAC Energy & Utilities: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 27. APAC Aerospace & Defense: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 28. APAC Transportation & Logistics: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 29. APAC Oil & Gas: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 30. APAC Others: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 31. APAC Predictive Maintenance Market, by Key Country - Revenue (2021) (US$ ‘Million)
Figure 32. APAC Predictive Maintenance Market Breakdown, by Country, 2021 & 2028 (%)
Figure 33. Australia Predictive Maintenance Market, Revenue and Forecast To 2028 (US$ Million)
Figure 34. China Predictive Maintenance Market, Revenue and Forecast To 2028 (US$ Million)
Figure 35. India Predictive Maintenance Market, Revenue and Forecast To 2028 (US$ Million)
Figure 36. Japan Predictive Maintenance Market, Revenue and Forecast To 2028 (US$ Million)
Figure 37. South Korea Predictive Maintenance Market, Revenue and Forecast To 2028 (US$ Million)
Figure 38. Rest of APAC Predictive Maintenance Market, Revenue and Forecast To 2028 (US$ Million)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- General Electric Company
- Hitachi, Ltd.
- IBM Corporation
- Microsoft Corporation
- PTC Inc.
- SAS Institute, Inc.
- Schneider Electric SE
- Software AG
- Syncron AB
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 160 |
| Published | December 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 1656.84 Million |
| Forecasted Market Value ( USD | $ 7378.17 Million |
| Compound Annual Growth Rate | 28.3% |
| Regions Covered | Asia Pacific |
