The MEA predictive maintenance market is expected to grow from US$ 284.11 million in 2022 to US$ 1,106.06 million by 2028. It is estimated to grow at a CAGR of 25.4% from 2022 to 2028.
Automation through Incorporation of AI and ML
The proliferation of IoT and AI technologies is anticipated to play a significant role in the ease of conducting predictive maintenance in the coming years. Throughout the machine's lifecycle, IoT sensors collect any relevant data and store it on the cloud. AI can make specific recommendations on what actions need be taken to maintain the health of the company assets. On many devices or machines, these recommendations are often warnings of actions that a technician should take. This can be from a simple request to perform a software update or lubricating a few wheels to complex repairs. AI and ML advancements can significantly change the working of these predictive maintenance tasks. In the future, there will be an exponential rise in automation as improvement in processes and efficiency will be the major focus of the companies. Industries across the region are already incorporating advanced machineries, with IoT enabled sensors, to aid them in continuous monitoring of machine health. Additionally, drone-based monitoring of equipment is growing rapidly in the conventional and renewable energy sectors. Drones, fitted with thermal imaging equipment, are assisting industries in remotely monitoring the health of power lines and other equipment. Major service providers of predictive maintenance are increasingly adopting this technology, despite incidents of drone crashes and property loss. With advancements of drone technology and capabilities, it can be touted as the future of remote predictive maintenance. Such trends are expected to boost the demand for predictive maintenance solutions and services across the region in the coming years.
Automation through Incorporation of AI and ML
The proliferation of IoT and AI technologies is anticipated to play a significant role in the ease of conducting predictive maintenance in the coming years. Throughout the machine's lifecycle, IoT sensors collect any relevant data and store it on the cloud. AI can make specific recommendations on what actions need be taken to maintain the health of the company assets. On many devices or machines, these recommendations are often warnings of actions that a technician should take. This can be from a simple request to perform a software update or lubricating a few wheels to complex repairs. AI and ML advancements can significantly change the working of these predictive maintenance tasks. In the future, there will be an exponential rise in automation as improvement in processes and efficiency will be the major focus of the companies. Industries across the region are already incorporating advanced machineries, with IoT enabled sensors, to aid them in continuous monitoring of machine health. Additionally, drone-based monitoring of equipment is growing rapidly in the conventional and renewable energy sectors. Drones, fitted with thermal imaging equipment, are assisting industries in remotely monitoring the health of power lines and other equipment. Major service providers of predictive maintenance are increasingly adopting this technology, despite incidents of drone crashes and property loss. With advancements of drone technology and capabilities, it can be touted as the future of remote predictive maintenance. Such trends are expected to boost the demand for predictive maintenance solutions and services across the region in the coming years.
Market Overview
The major leading countries, such as Saudi Arabia, Kuwait, and Qatar, dominate the demand for the predictive maintenance market. These countries are significantly contributing to the growth by producing oil & gas that emerges the need for consistent maintenance and helping the market to grow. The key factors responsible for the market's growth are supportive government policies for oil and gas production, which are expected to drive the market over the coming years. The oil & gas industry witnessed a major demand for predictive maintenance from 2020, with major absorption from the Middle East region. In November 2019, The Abu Dhabi National Oil Company (ADNOC) selected Honeywell's asset monitoring and predictive analytics solution to drive improved asset and machinery management across ADNOC's upstream and downstream operations. The predictive analytics solution leveraged AI technologies such as machine learning and digital twins to generate significant yearly savings through reduced unplanned maintenance, increased reliability, uptime, and safety. In the MEA region, asset performance management (APM) had a major role to play in achieving the maintenance objective by using a set of cyber-physical systems, including the industrial Internet of Things (IIoT), cloud computing, big data analytics, predictive analytics leveraging artificial intelligence and machine learning, mobility and augmented and virtual reality. In August 2022, as per the Dubai Electricity and Water Authority (DEWA), periodic preventive maintenance of the power transmission networks has contributed to achieve 100% reliability and availability of the power transmission system in Dubai. This has reduced the average maintenance costs by approximately US$0.54 million, making it the ‘Best in Class’ among global utilities. Thus, such growing demand for predictive maintenance in MEA is anticipated to drive the market growth over the forecast period.MEA Predictive Maintenance Market Segmentation
The MEA predictive maintenance market is segmented based on component, deployment type, technique, industry, and country.- Based on component, the MEA predictive maintenance market is bifurcated into solutions and services. The solutions segment held a larger market share in 2022.
- Based on deployment type, the MEA predictive maintenance market is bifurcated into cloud and on-premise. The cloud segment held a larger market share in 2022.
- Based on technique, the MEA 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 MEA predictive maintenance market is segmented into manufacturing, energy & utilities, aerospace & defense, transportation & logistics, oil & gas, and others. The oil & gas segment held the largest market share in 2022.
- Based on country, the MEA predictive maintenance market has been categorized into the UAE, Saudi Arabia, South Africa, and rest of MEA. Our regional analysis states that Saudi Arabia 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 MEA Predictive Maintenance Market - By Component
1.3.2 MEA Predictive Maintenance Market - By Deployment Type
1.3.3 MEA Predictive Maintenance Market - By Technique
1.3.4 MEA Predictive Maintenance Market - By Industry
1.3.5 MEA Predictive Maintenance Market - By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Predictive Maintenance Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. MEA 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 - MEA Analysis
6.1 MEA Predictive Maintenance Market Overview
6.2 MEA Predictive Maintenance Market - Revenue and Forecast to 2028 (US$ Million)
7. MEA Predictive Maintenance Market Analysis - By Component
7.1 Overview
7.2 MEA 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. MEA Predictive Maintenance Market Analysis - By Deployment Type
8.1 Overview
8.2 MEA 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. MEA Predictive Maintenance Market Analysis - By Technique
9.1 Overview
9.2 MEA 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. MEA Predictive Maintenance Market Analysis - By Industry
10.1 Overview
10.2 MEA 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. MEA Predictive Maintenance Market - Country Analysis
11.1 Overview
11.1.1 MEA Predictive Maintenance Market Breakdown, By Country
11.1.1.1 South Africa Predictive Maintenance Market, Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 South Africa Predictive Maintenance Market Breakdown, By Component
11.1.1.1.2 South Africa Predictive Maintenance Market Breakdown, By Deployment Type
11.1.1.1.3 South Africa Predictive Maintenance Market Breakdown, By Technique
11.1.1.1.4 South Africa Predictive Maintenance Market Breakdown, By Industry
11.1.1.2 Saudi Arabia Predictive Maintenance Market, Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Saudi Arabia Predictive Maintenance Market Breakdown, By Component
11.1.1.2.2 Saudi Arabia Predictive Maintenance Market Breakdown, By Deployment Type
11.1.1.2.3 Saudi Arabia Predictive Maintenance Market Breakdown, By Technique
11.1.1.2.4 Saudi Arabia Predictive Maintenance Market Breakdown, By Industry
11.1.1.3 UAE Predictive Maintenance Market, Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 UAE Predictive Maintenance Market Breakdown, By Component
11.1.1.3.2 UAE Predictive Maintenance Market Breakdown, By Deployment Type
11.1.1.3.3 UAE Predictive Maintenance Market Breakdown, By Technique
11.1.1.3.4 UAE Predictive Maintenance Market Breakdown, By Industry
11.1.1.4 Rest of MEA Predictive Maintenance Market, Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Rest of MEA Predictive Maintenance Market Breakdown, By Component
11.1.1.4.2 Rest of MEA Predictive Maintenance Market Breakdown, By Deployment Type
11.1.1.4.3 Rest of MEA Predictive Maintenance Market Breakdown, By Technique
11.1.1.4.4 Rest of MEA 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
Table 1. MEA Predictive Maintenance Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. MEA Predictive Maintenance Market, Revenue and Forecast to 2028 - By Country (US$ Million)
Table 3. South Africa Predictive Maintenance Market, Revenue and Forecast to 2028 - By Component (US$ Million)
Table 4. South Africa Predictive Maintenance Market, Revenue and Forecast to 2028 - By Deployment Type (US$ Million)
Table 5. South Africa Predictive Maintenance Market, Revenue and Forecast to 2028 - By Technique (US$ Million)
Table 6. South Africa Predictive Maintenance Market, Revenue and Forecast to 2028 - By Industry (US$ Million)
Table 7. Saudi Arabia Predictive Maintenance Market, Revenue and Forecast to 2028 - By Component (US$ Million)
Table 8. Saudi Arabia Predictive Maintenance Market, Revenue and Forecast to 2028 - By Deployment Type (US$ Million)
Table 9. Saudi Arabia Predictive Maintenance Market, Revenue and Forecast to 2028 - By Technique (US$ Million)
Table 10. Saudi Arabia Predictive Maintenance Market, Revenue and Forecast to 2028 - By Industry (US$ Million)
Table 11. UAE Predictive Maintenance Market, Revenue and Forecast to 2028 - By Component (US$ Million)
Table 12. UAE Predictive Maintenance Market, Revenue and Forecast to 2028 - By Deployment Type (US$ Million)
Table 13. UAE Predictive Maintenance Market, Revenue and Forecast to 2028 - By Technique (US$ Million)
Table 14. UAE Predictive Maintenance Market, Revenue and Forecast to 2028 - By Industry (US$ Million)
Table 15. Rest of MEA Predictive Maintenance Market, Revenue and Forecast to 2028 - By Component (US$ Million)
Table 16. Rest of MEA Predictive Maintenance Market, Revenue and Forecast to 2028 - By Deployment Type (US$ Million)
Table 17. Rest of MEA Predictive Maintenance Market, Revenue and Forecast to 2028 - By Technique (US$ Million)
Table 18. Rest of MEA Predictive Maintenance Market, Revenue and Forecast to 2028 - By Industry (US$ Million)
Table 19. List of Abbreviation
Figure 1. MEA Predictive Maintenance Market Segmentation
Figure 2. MEA Predictive Maintenance Market Segmentation - By Country
Figure 3. MEA Predictive Maintenance Market Overview
Figure 4. MEA Predictive Maintenance Market, By Component
Figure 5. MEA Predictive Maintenance Market, By Country
Figure 6. MEA: PEST Analysis
Figure 7. Expert Opinion
Figure 8. MEA Predictive Maintenance Market Impact Analysis of Drivers and Restraints
Figure 9. MEA Predictive Maintenance Market - Revenue and Forecast to 2028 (US$ Million)
Figure 10. MEA Predictive Maintenance Market Revenue Share, By Component (2021 and 2028)
Figure 11. MEA Solutions: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 12. MEA Services: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 13. MEA Predictive Maintenance Market Revenue Share, By Deployment Type (2021 and 2028)
Figure 14. MEA Cloud: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. MEA On-Premise: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 16. MEA Predictive Maintenance Market Revenue Share, By Technique (2021 and 2028)
Figure 17. MEA Vibration Monitoring: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 18. MEA Electrical Testing: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. MEA Oil Analysis: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 20. MEA Ultrasonic Leak Detectors: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 21. MEA Shock Pulse: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 22. MEA Infrared: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 23. MEA Others: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 24. MEA Predictive Maintenance Market Breakdown, By Industry (2021 and 2028)
Figure 25. MEA Manufacturing: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 26. MEA Energy & Utilities: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 27. MEA Aerospace & Defense: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 28. MEA Transportation & Logistics: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 29. MEA Oil & Gas: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 30. MEA Others: Predictive Maintenance Market- Revenue and Forecast to 2028 (US$ Million)
Figure 31. MEA Predictive Maintenance Market, by Key Country - Revenue (2021) (US$ ‘Million)
Figure 32. MEA Predictive Maintenance Market Breakdown, By Country, 2021 & 2028 (%)
Figure 33. South Africa Predictive Maintenance Market, Revenue and Forecast To 2028 (US$ Million)
Figure 34. Saudi Arabia Predictive Maintenance Market, Revenue and Forecast To 2028 (US$ Million)
Figure 35. UAE Predictive Maintenance Market, Revenue and Forecast To 2028 (US$ Million)
Figure 36. Rest of MEA 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 | 151 |
| Published | January 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 284.11 Million |
| Forecasted Market Value ( USD | $ 1106.06 Million |
| Compound Annual Growth Rate | 25.4% |
| Regions Covered | Africa, Middle East |
