Predictive Maintenance Market Top Companies, Trends and Future Prospects Details For Business Development Outlook 2031

Predictive maintenance (PdM) is a process used to monitor equipment during an operation with the purpose to identify any deterioration. It helps to plan maintenance schedules and reduce operational costs. In addition, data about previous breakdowns is used as a model when failures are likely to occur. This, in turn, helps to arbitrate a condition at the same time as sensors detect it. PdM techniques are used to identify the time when an in-service equipment requires maintenance to avoid expensive operational disruptions caused due to equipment failures. Increase in adoption of industry 4.0 and growth of the manufacturing industry drive demand for predictive maintenance solutions.

Increase in need to improve uptime of an asset and reduce cost, growth in investments of predictive maintenance, owing to adoption of IoT, and rise in need to extend lifetime of aging assets drive growth of the global predictive maintenance market. Further, increase in need to gain insights from adoption of new technologies boosts growth of the predictive maintenance market. However, difficulty in implementation and data security concerns hamper the market growth. Furthermore, adoption of advanced technologies such as machine learning, integration of predictive maintenance with IIoT, and growth in need for remote monitoring and asset management post COVID-19 pandemic is anticipated to fuel growth of the predictive maintenance market.

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The global predictive maintenance market is segmented on the basis of component, deployment, technique, stakeholder, industry vertical, and region. By component, it is bifurcated into solution and service. According to deployment, it is classified into cloud and on-premise. Further, by technique, it is divided into vibration monitoring, electrical testing, oil analysis, ultrasonic leak detectors, shock pulse, infrared, and others. By stakeholder, it is classified into MRO, OEM/ODM, and technology integrators. On the basis of industry vertical, it is classified into manufacturing, energy & utilities, aerospace & defense, transportation & logistics, government, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The passage highlights the trend of governmental organizations increasing their maintenance budgets for system infrastructure while also investing in initiatives for project development, modernization, and enhancement. This has led to the success of investments and an increase in the annual funding set aside by ICT vendors for the growth of the online market. The passage also mentions the anticipated increase in global ICT exports, which are expected to rise by an average of 3.9% yearly from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. The global supply of ICT has increased by 9.5% yearly since 2009.

In terms of global ICT exports in 2021, Ireland ranked first with US$ 169.32 billion, followed by the United States at number 2, India at number 3, and China at number 4. The passage also notes the significant increase in Brunei’s global ICT exports by 228.2% year over year since 2009, while Sierra Leone’s global ICT exports have decreased by 61.7% year over year in the same period. Overall, the passage highlights the growth and potential of the global ICT market, driven by increased investments and funding for infrastructure and project development.

It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It’s interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.

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KEY BENEFITS FOR STAKEHOLDERS– The study provides an in-depth analysis of the Global Predictive Maintenance Market along with the current & future trends to elucidate the imminent investment pockets.– Information about key drivers, restrains, and opportunities and their impact analyses on the market size is provided in the report.– Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.– The quantitative analysis of the Global Predictive Maintenance Market from 2019 to 2027 is provided to determine the market potential.

KEY MARKET PLAYERS– IBM Corporations– Microsoft– SAP SE– General Electric– Schneider Electric– Hitachi– PTC– Software AG– SAS– Engineering Consultants Group, Inc.– Expert Microsystems, Inc.– SparkCognition– C3.Ai– Uptake Technologies Inc.– Fiix Inc.– Opeational Excellence (Opex) Group Ltd– TIBCO Software Inc.– Asystom– Sigma Industrial Precision– Reliability Solutions Sp. zo.o.

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KEY MARKET SEGMENTSBy Components:– Solution– ServiceBy Technique:– Vibration Monitoring– Electrical Testing– Oil Analysis– Ultrasonic Leak Detectors– Shock Pulse– Infrared– OthersBy Deployment Type:– Cloud– On-premiseBy Stakeholder:– MRO– OEM/ODM– Technology IntegratorsBy Industry Vertical:– Manufacturing– Energy & utilities– Aerospace & Defense– Transportation & logistics– Government– Healthcare– OthersBy Region:– North America– Europe– Asia-Pacific– LAMEA

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