Press release
Predictive Maintenance Market to surpass US$ 45 Billion by 2032, Unveils Fact.MR
Ongoing advancements in machine-to-machine communication, artificial intelligence, and big data have provided new methods to secure information deduced from AI means. Advanced techniques provide enterprises tools to dissect real-time data and decide on various application cases for IoT.
Key players in the market are taking various initiatives to strengthen their position in the market. In May 2022, Sensata Technologies, a US-based company launched a new asset monitoring solution that offers predictive maintenance for rotary assets and gives actionable insights to plant managers.
Such launches are expected to support market growth in the forecast period. Development in big data and M2M communication allow condition monitoring in real-time. The real-time inputs from selectors, detectors, and other regulatory parameters would not only identify embryonic asset loss but also assist organizations in real-time and take prompt actions.
For more insights into the Market, Get A Sample of this Report - https://www.factmr.com/connectus/sample?flag=S&rep_id=7492
On the contrary, a lack of expertise and frequent maintenance is expected to hamper the market growth. Also, upgradation requirement is another cause limiting the market growth in the forecast period. However, the proliferation of customer channels and changing landscape of customer intelligence are expected to act as a significant counter to the impeding causes and boost the market growth during the forecast period.
Key Takeaways from the Market Study
By deployment mode, the cloud segment is expected to dominate the predictive maintenance market while exhibiting a CAGR of 21.1% during the forecast period.
Based on organization size, the large enterprises segment is predicted to lead the predictive maintenance market and exhibit a CAGR of 21.4% by 2032.
The predictive maintenance market in the U.S is projected to garner US$ 15.8 Billion by 2032
The predictive maintenance market in the U.K is anticipated to garner a market value of US$ 2 Billion during the forecast period
The Japanese predictive maintenance market is anticipated to garner US$ 2.6 Billion by 2032
The predictive maintenance in South Korea is projected to display a CAGR of 19.5% from 2022-to 2032
Need more information about Report Methodology? Click here - https://www.factmr.com/connectus/sample?flag=RM&rep_id=7492
Competition Analysis
Key players in the global predictive maintenance market include Microsoft Corporation, IBM, Schneider Electric SE, General Electric Company, and Hitachi, Ltd. Recent developments in the industry are:
In May 2022, Hitachi Ltd. announced the launch of Lumada Inspection Insights. Pioneered by Hitachi Energy and Hitachi Vantara, Lumada Inspection Insights allows customers to mechanize asset inspection, and support sustainability goals. The new solution addresses various causes of failures by implementing AI and Machine Learning to assess assets, risks, and the spectrum of image types.
In July 2021, Schneider Electric rolled out EcoStruxure ™ TriconexTM Safet View. It is assiduity's first binary safety-and-cybersecurity-certified bypass and alarm operation software that enables drivers to see both the bypass status that affects the position of threat reduction in place, and the critical admonitions demanded to operate the factory safely when pitfalls are high.
In May 2022, Schneider Electric announced the launch of its new SureSeT MV switchgear offering for the market in North America. The new solution offers various benefits. The newly integrated characteristics offer insights into day-to-day operations for remote access and control of equipment health, predictive maintenance, and operational efficiency.
Key Segments Profiled in the Predictive Maintenance Market
Global Predictive Maintenance Market by Organization Size :
Predictive Maintenance for Large Enterprises
Predictive Maintenance for Small and Medium-Sized Enterprises
Global Predictive Maintenance Market by Vertical :
Predictive Maintenance in Government and Defense
Predictive Maintenance in Manufacturing
Predictive Maintenance in Energy and Utilities
Predictive Maintenance in Transportation and Logistics
Predictive Maintenance in Healthcare and Life Sciences
Predictive Maintenance in Other Verticals (Agriculture, Telecom, Media, and Retail)
Global Predictive Maintenance Market by Deployment Mode :
Cloud Predictive Maintenance
On-Premise Predictive Maintenance
Global Predictive Maintenance Market by Component :
Predictive Maintenance Software
Predictive Maintenance Services
Global Predictive Maintenance Market by Region :
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Full Access of this Exclusive Report is Available at - https://www.factmr.com/checkout/7492
During the historical period from 2015 to 2021, the global predictive market was estimated at a CAGR of 25.3%. The increasing application of modern technologies to obtain valuable insights into decision-making is anticipated to have played a significant role in strengthening the market during the prior-mentioned time period.
Besides, the role of players in expanding the market growth is notable. In May 2021, SAS Institute rolled out its SAS Viya platform to provide the foundation for data and logical success by deploying modern data operation results into its vital, pall native SASViya platform.
In another instance, in July 2020, Google Cloud rolled out BigQuery Omni powered by Anthos for Multi-Cloud Analytics. BigQuery Omni offers organizations the flexibility they demand to break down silos and create useful business insights, without any payment of fees for moving data from other cloud providers to Google Cloud. Such factors are anticipated to have boosted the market during the time period from 2015-to 2021.
From 2022 to 2032, the global predictive market is expected to exhibit a CAGR of 21.9%. The development of the market can be attributed to the implementation of AI and IoT-based predictive maintenance technologies to forecast device failures. Also, the contribution of the manufacturing industry is expected to augment the market size in the coming period.
Besides, aerospace and defense, energy and utilities, manufacturing, oil & gas transportation, healthcare, and life sciences are other sectors generating significant demand for predictive maintenance. Players in the market are also taking various efforts to strengthen the industry.
For instance, in May 2021, TIBCO Software launched its TIBCO Data Virtualization and TIBCO EBX. It aims to boost the organization's data fabric, enabling customers to avail benefits of the immense potential of data. The aforementioned factors are expected to develop market growth during the forecast period.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global predictive maintenance market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), By Vertical (Government and Defense, Manufacturing, Energy and Utilities, Transportation and Logistics, Healthcare and Life Sciences, Others), By Deployment Mode (Cloud, On-Premises), By Component (Software, Services), and Region (North America, Latin America, Asia Pacific, Europe and the Middle East & Africa).
Fact.MR's Domain Knowledge in Technology
Our ICT consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the ICT sector. Our expertise in recognizing the challenges and trends impacting the global ICT industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
Explore Fact.MR's Comprehensive Coverage on Technology Domain:
Portable Audio Amplifier Market - https://www.factmr.com/report/portable-audio-amplifier-market
Air Conditioner Remote Control Market - https://www.factmr.com/report/1228/air-conditioner-remote-control-market
Learning Remote Controls Market - https://www.factmr.com/report/1269/learning-remote-controls-market
Electronic Display Signs Market - https://www.factmr.com/report/1452/electronic-display-signs-market
Digital Kiosk Market - https://www.factmr.com/report/1458/digital-kiosk-market
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
About Us:
Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range - from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we'll be an able research partner.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Predictive Maintenance Market to surpass US$ 45 Billion by 2032, Unveils Fact.MR here
News-ID: 2663742 • Views: …
More Releases from Fact.MR
Fine Blanking Tools Market Projected to Reach USD 1.43 Billion by 2035 | U.S. CA …
The global Fine Blanking Tools Market is set for steady growth over the next decade, driven by rising demand for high-precision components, ongoing industrial automation, and surging requirements from automotive, electronics, and aerospace sectors. According to a recent forecast, the market is expected to grow from approximately USD 948.1 million in 2025 to USD 1,430.6 million by 2035, at a compound annual growth rate (CAGR) of about 4.2 % between…
Benzodiazepine Drugs Market is Expanding USD 5.4 billion by 2035 | Pfizer Inc.; …
The global benzodiazepine drugs market is projected to expand in the coming decade, driven by growing incidence of anxiety, insomnia, alcohol-withdrawal disorders, and advances in pharmaceutical formulations. According to a recent Fact.MR report, the market was valued at approximately USD 2.35 billion in 2022, and is expected to grow at a compound annual growth rate (CAGR) of 2.8% to reach USD 3.1 billion by 2032.
Market Drivers & Outlook
The demand for…
Ultrasound Systems Market to Surge to Nearly USD 20 Billion by 2035, Led by Adva …
The global Ultrasound Systems Market is on a strong growth trajectory, projected to rise from USD 10.8 billion in 2025 to approximately USD 19.7 billion by 2035, expanding at a CAGR of 6.2% during the forecast period. This growth is fueled by the rising demand for non-invasive diagnostic imaging, the increasing prevalence of chronic diseases, expanding healthcare infrastructure, and continuous technological innovations such as AI integration and portable imaging systems.
Key…
Surgical Staplers Market Is Forecasted To Reach USD 6.0 Billion In 2025 | Ethico …
The global Surgical Staplers Market is forecast to show strong growth over the next decade, nearly doubling in value as demand surges for efficient, reliable wound closure in advanced surgical procedures. According to the latest Fact.MR Surgical Staplers Market Size & Share Forecast Outlook 2025-2035 report, the market is expected to grow from USD 6.0 billion in 2025 to USD 12.5 billion by 2035, at a compound annual growth rate…
More Releases for Predictive
Predictive Maintenance Market to Hit USD 111.30 Billion By 2030, Boosting Equipm …
✎ Market Overview:
The global Predictive Maintenance Market is experiencing rapid growth, driven by the increasing adoption of Industry 4.0 technologies and a strong focus on cost efficiency and operational productivity. Predictive maintenance (PdM) uses data analysis tools and techniques to detect anomalies in equipment and predict possible failures, allowing for timely maintenance that minimizes downtime and extends asset life. As industrial sectors shift toward digital transformation, the use of artificial…
Emerging Trends Influencing The Growth Of The Predictive Maintenance Market: Enh …
The Predictive Maintenance Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the Predictive Maintenance Market?
The market size of predictive maintenance has experienced significant growth in the past few years. The projections suggest an increase from $9.3 billion in 2024…
Emerging Predictive Biomarkers Market Driver 2025-2034: Rising Cancer Cases To B …
How Is the Predictive Biomarkers Market Projected to Grow, and What Is Its Market Size?
In recent times, the size of the predictive biomarkers market has witnessed consistent growth. It is projected to expand from $20.05 billion in 2024 to $20.96 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%. The growth observed in the past could be associated with factors such as the rise in research and…
Manufacturing Predictive Analytics Market to Reach USD 2.52 Billion |Revolutioni …
Advent of Industry 4.0, evolution of IIoT, and rise in operational efficiencies from big data initiatives fuel the growth of the global manufacturing predictive analytics market. On the other hand, dearth of skilled workforce and threat of cyber-attack restrain the growth to some extent. Nevertheless, development of smart data-driven organizations and interference of artificial intelligence (AI) into manufacturing are expected to create multiple opportunities in the near future.
The report…
Predictive Maintenance Market to Grow at 28.8% CAGR | Predictive Maintenance Pio …
According to a recent report published by Allied Market Research, titled, "Predictive maintenance market by component, technique, deployment type, stakeholder, and industry vertical: opportunity analysis and industry forecast, 2020-2027,"the global predictive maintenance market size was valued at $4,331.56 million in 2019, and is projected to reach $31,965.49 million by 2027, growing at a CAGR of 28.8% from 2020 to 2027.
On the basis of deployment model, the on-premise segment…
Healthcare Predictive Analytics Market Size to Hit $74.62 Billion by 2028 | Heal …
Market Overview:
According to our experience research team, Healthcare Predictive Analytics Market was valued at USD 20.16 Billion in 2021, and the global Healthcare Predictive Analytics industry is projected to reach a value of USD 74.62 Billion by 2028, at a CAGR of 27% during the forecast period 2022-2028
Vantage Market Research is a collection of market research studies on several industries, such as Chemicals, semiconductors & Electronics, Food & Beverages Technology,…
