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Predictive Maintenance Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Predictive Maintenance Market: By Component (Solutions and Services); Deployment Mode (Cloud and On-Premises); Technology (Vibration Monitoring, Electrical Testing, Oil Analysis, Ultrasonic Detectors, and Others; Organization Size (Large Enterprises, Small and Medium Sized Enterprises); Industry (Aerospace and Defense, Manufacturing, Energy and Utilities, Oil & Gas, and Others); and Region)—industry Dynamics, Market Size and Opportunity Forecast Until 2031

  • Published Date: Mar-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0322172  | Delivery: 2 to 4 Hours
Predictive Maintenance Market

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Report AttributeDetails
Market Size Value in 2022US$ 5,934.2 Mn
Expected Revenue in 2031US$ 60,363.83 Mn
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD Mn)
Segments coveredBy Component, By Deployment Mode, By Technology, By Organization Size, By Region
Key Companies                                                   Fujitsu Limited, Hitachi, Ltd., Toshiba Corporation, Mitsubishi Electric Corporation, Google Llc, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP Se, Software Ag, Onyx Insight, Amazon Web Services, Inc., SAS Institute, Hakunamatata Solutions, Other Prominent Players
Customization ScopeGet your customized report as per your preference. Ask for customization


Predictive maintenance helps in scheduling the maintenance work and performing it before an asset is expected to fail with minimal downtime. 

Predictive maintenance is used in various industries such as manufacturing, healthcare, energy & utilities, oil & gas and transport.

Predictive maintenance relies on sensors to identify the need for maintenance. Not only are sensors more accurate than human senses, but they can detect internal wear that cannot be directly observed, is too dangerous for humans to inspect, or would otherwise require equipment to be shut down and opened up.

The Global Predictive Maintenance Market was valued at US$ 5,934.2  Mn in 2022.

Global Predictive Maintenance Market is projected to expand at a CAGR of 29.4% over the forecast period.

The market is majorly driven by factors such as rising urbanization, rampant digitalization and increasing demand to decrease operation & maintenance cost.

Lack of skilled workforce is hindering the market growth. 

Vibration monitoring segment has the highest share in the Global Predictive Maintenance Market. 

Large enterprises have highest share of the predictive maintenance market in 2022.

Manufacturing industry is the highest end user in the predictive maintenance market.

North America dominates Global Predictive Maintenance Market in 2022.

Asia Pacific has the highest CAGR in the market over the forecast period.

The key players in the global predictive maintenance market are IBM, SAP, SIEMENS, Microsoft, GE and Intel among others.