Press release
Predictive Maintenance Market Dynamics Trends, Segmentation, Key Players, Application And Forecast
The solutions offered for predictive maintenance has been leading the growth of this market. Among the various services offered for predictive maintenance, system integration and consulting service is expected to be the key growth driver for the market. The adoption of predictive maintenance has been increasing in various sectors, including government, aerospace & defence, energy & utilities, manufacturing, healthcare, and transportation & logistics, due to its ability to predict asset failures and reducing operational cost. North America has been the largest predictive maintenance market because of the presence of large number of service and solution vendors in the region.
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In North America, the U.S is expected to show the highest growth in predictive maintenance market during the forecast period, due to the increasing demand for better monitoring of the processes and due to presence of large number of solution and service vendors for predictive maintenance.
Companies now-a-days are also integrating sensor technology with maintenance activity in order to provide an efficient predictive maintenance solutions system, to cater the needs for different organizations. Further, the continuous research going on in remote maintenance and e-maintenance are helping and supporting maintenance activity in remote and unsafe working conditions. Companies are creating technology based ERP software solutions to enhance the efficiency and affordability of predictive maintenance market.
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Market Segmentation
By Component
• Solutions
• Services
o System integration
o Support and maintenance
o Consulting services
By Deployment Type
• On-premises
• Cloud
By Organization Size
• Small enterprises
• Medium enterprises
• Large enterprises
By Vertical
• Aerospace and defense
• Energy and utilities
• Manufacturing
• Healthcare
• Transportation and logistics
• Government
• Others
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Some of the major players in predictive maintenance market include IBM Corporation, SAP SE, General Electric, Bosch Software Innovations GmbH, Schneider Electric and Softweb Solutions Inc. Owing to high growth potential in this market, more number of small players with low cost solutions are entering the market, which has been forcing the established players to reduce cost of their predictive maintenance solutions as well as to provide complimentary services along with their solutions.
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