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.
Further key findings from the report suggest:
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.
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.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/predictive-maintenance-market
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.
About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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