Predictive Maintenance Market Size 2020: Why You Should Invest In this Market

According to the report, the global predictive maintenance industry garnered $2.80 billion in 2018, and is estimated to reach $23.01 billion by 2026, growing at a CAGR of 30.2% from 2019–2026. The need to improve uptime of equipment and increase in investment on predictive maintenance fuel the growth of the global predictive maintenance market. On the other hand, lack of skilled staff, difficulties in implementation, and data privacy & security concerns are some of the factors that restrain the growth to certain extent. However, integration of predictive maintenance with IIoT and use of machine learning are expected to create a number of lucrative opportunities in the near future.

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The report also provides a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive landscape, and wavering market trends.

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North America held the major share in 2018, generating more than one-third of the global predictive maintenance market. It is due to the presence of a large number of solution and service vendors in this region. Furthermore, great awareness regarding predictive maintenance measures, its importance and early adoption of technology in this region have also spurred the demand for predictive maintenance in this region. Simultaneously, the Asia-Pacific region would cite the fastest CAGR of 31.90% during the forecast period. Surge in focus on trying innovative solution for achieving optimized output for maintenance of assets is expected to fuel the growth of predictive maintenance market in the region.

Frontrunners in the industry

• Microsoft Corporation
• Spark Cognition
• SAP SE
• General Electric
• Asystom
• Sigma Industrial Precision
• Schneider Electric
• Hitachi Ltd.
• PTC Inc.
• TIBCO Software Inc.
• SAS Institute Inc.
• Operational Excellence (Opex) Group Ltd.
• Engineering Consultants Group Inc.
• IBM Corporation
• Expert Microsystems Inc.
• C3.ai Inc.
• Software AGUptake Technologies Inc.
• Fiix Inc.

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Key questions answered in Predictive Maintenance Market research study:

•What is the market growth rate of Predictive Maintenance Market from 2019-2026?

•What will be the global market size of the market from 2019 to 2026?

•Who are the leading global manufacturing companies in the Predictive Maintenance Market?

•What are the major current trends and predicted trends?

•What are the challenges faced in the Predictive Maintenance Market?

•Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?

•What are the conclusions of the Predictive Maintenance Market report?

The Objective of the “Global Predictive Maintenance Market” report is to depict the trends and upcoming for the Predictive Maintenance industry over the forecast years. Predictive Maintenance Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2019 to 2026 mulling over 2018 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.

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