Press release
Emerging Trends Influencing The Growth Of The Predictive Maintenance Market: Enhancing Predictive Maintenance Solutions Through Strategic Partnerships
Predictive Maintenance Market
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 to $11.88 billion in 2025, representing a compound annual growth rate (CAGR) of 27.6%. This growth during the historical period can be ascribed to factors such as reduced equipment downtime, cost-effectiveness, regulatory compliance, and safety standards.
The market size for predictive maintenance is set to witness a massive surge in the upcoming years, expanding to $33.36 billion in 2029, corresponding to a compound annual growth rate (CAGR) of 29.5%. The surge during the forecast period can be credited to integration with enterprise systems, the application of predictive analytics to complex systems, and a distinct emphasis on proactive maintenance strategies. Predominant trends in the forecast period encompass digital twin tech, cross-industry alliances, advancements in sensor technologies, evolution of advanced analytics and machine learning, and cloud-based solutions.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6687
What Are the Different Predictive Maintenance Market Segments?
The predictive maintenance market covered in this report is segmented -
1) By Component: Solutions, Service
2) By Deployment Mode: On-premises, Cloud
3) By Stakeholder: MRO, OEM/ODM, Technology Integrators
4) By Application: Heavy Machinery, Small Machinery, Other Applications
5) By End User: Aerospace & Defense, Automotive & Transportation, Energy & Utilities, Healthcare, IT & Telecommunication, Manufacturing, Oil & Gas, Other End Users
Subsegments:
1) By Solutions: Software Platforms, Predictive Analytics Tools, Machine Learning Models, IoT Sensors And Devices
2) By Service: Consulting Services, Integration And Implementation, Support And Maintenance, Training And Education
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6687&type=smp
What Are the Primary Drivers Shaping the Predictive Maintenance Market?
The mounting need to lower upkeep expenses, equipment malfunction and idle time is playing a critical part in propelling the expansion of the predictive maintenance market. Equipment idle time refers to the period during which certain machinery is not in operation due to unanticipated system failures. Regular machinery malfunction and unexpected idle time of substantial equipment are disrupting businesses by temporarily stopping manufacturing activities, wasting staff hours, accruing financial penalties, and more. For example, in February 2023, the National Center for Biotechnology Information, an organization funded by the US government, projected that the upkeep costs for manufacturing machinery can range from 15% to 70% of production costs. Consequently, the surging demand to mitigate upkeep expenses, equipment failure, and idle time is predicted to stimulate the demand for predictive maintenance within the forecast period.
Which Companies Are Leading in the Predictive Maintenance Market?
Major companies operating in the predictive maintenance market include Google LLC, Microsoft Corporation, Hitachi Ltd., Amazon Web Services Inc., Siemens AG, General Electric Company, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, OPEX Group Ltd., SAP SE, Hewlett Packard Enterprise Company, SAS Institute Inc., Splunk Inc., Larsen & Toubro Infotech Limited, PTC Inc., TIBCO Software Inc., Fluke Corporation, Software AG, Banner Engineering Corporation, Altair Engineering Inc., C3.ai Inc., Axiomtek Co Ltd., SparkCognition Inc., Uptake Technologies Inc., RapidMiner Inc., Dingo Inc., Senseye Ltd., Aspen Technology Inc., Dassault Systèmes SE, Rockwell Automation Inc., Honeywell International Inc.
What Trends Are Expected to Dominate the Predictive Maintenance Market in the Next 5 Years?
Leading corporations in the predictive maintenance market are forging strategic alliances to augment their service provision, incorporate synergistic technologies, and enhance customer results. These strategic collaborations within the predictive maintenance industry promote the assimilation of state-of-the-art technologies and expertise, empowering businesses to improve their solutions, boost asset productivity, and curtail downtime via enhanced data analysis and inventive methods. For example, in July 2023, NTPC, a power production company based in India, collaborated with the International Institute of Information Technology-Naya Raipur, a state-funded institute in India, to form the IIITNR-COE in Predictive Maintenance. This center of excellence is primarily focused on research and development of predictive maintenance tools and systems, gaining from field data supplied by NTPC while providing academic perspectives on contemporary technologies.
Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/predictive-maintenance-global-market-report
What Are the Top Revenue-Generating Geographies in the Predictive Maintenance Market?
North America was the largest region in the predictive maintenance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the predictive maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Predictive Maintenance Market?
2. What is the CAGR expected in the Predictive Maintenance Market?
3. What Are the Key Innovations Transforming the Predictive Maintenance Industry?
4. Which Region Is Leading the Predictive Maintenance Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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 Emerging Trends Influencing The Growth Of The Predictive Maintenance Market: Enhancing Predictive Maintenance Solutions Through Strategic Partnerships here
News-ID: 4014512 • Views: …
More Releases from The Business Research Company
Seed Treatment Fungicides Market to Grow at 9.3% CAGR, Reaching $3.15 Billion by …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Seed Treatment Fungicides Market Outlook: How is the Market Expected to Grow by 2025?
Over the past few years, the market for seed treatment fungicides has seen robust growth. Its market value is projected to rise from $2.07 billion in 2024 to $2.21 billion in 2025, signifying a compound annual…
Rheology Modifiers Market Growth to be Driven by Emerging Trends | $10.92 Billio …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Rheology Modifiers Industry?
There has been a consistent expansion in the size of the rheology modifiers market in the past few years. The market, which was worth $8.59 billion in 2024, is projected to increase to $8.89 billion in 2025, demonstrating a compound…
Polyurethane Foam Market to Record 8.4% CAGR Growth Through 2029 | Global Analys …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Polyurethane Foam Market Outlook: How is the Market Expected to Grow by 2025?
In recent years, the size of the polyurethane foam market has experienced substantial growth. It is projected to increase from a value of $54.27 billion in 2024 to $57.26 billion in 2025, indicating a compound annual growth…
Pharmaceutical Intermediates Market Size to Reach $46.04 Billion by 2029 | Growt …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Pharmaceutical Intermediates Industry?
There has been consistent growth in the market size of pharmaceutical intermediates over the past few years. The market is predicted to increase from a value of $33.37 billion in 2024, up to $34.95 billion in 2025, with a compound…
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 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 $74.62 Billion by 2028 | Heal …
Market Overview:
According to our experience research team, Healthcare Predictive Analytics Market was valued at USD 20.16 Billion in 2021, and the global Healthcare Predictive Analytics industry is projected to reach a value of USD 74.62 Billion by 2028, at a CAGR of 27% during the forecast period 2022-2028
Vantage Market Research is a collection of market research studies on several industries, such as Chemicals, semiconductors & Electronics, Food & Beverages Technology,…
Demand for Predictive Maintenance Management Is High In Predictive Maintenance M …
𝗣𝗿𝗲𝗱𝗶𝗰𝘁𝗶𝘃𝗲 𝗠𝗮𝗶𝗻𝘁𝗲𝗻𝗮𝗻𝗰𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗣𝗿𝗼𝘀𝗽𝗲𝗰𝘁𝘀 𝗳𝗿𝗼𝗺 𝟮𝟬𝟮𝟭 𝘁𝗼 𝟮𝟬𝟮𝟳
The global Predictive Maintenance market is estimated to account for US$ 17.7 Billion By 2026.
Predictive maintenance systems are designed to assist manufacturing companies in determining the condition of their on-site equipment so as to gauge when regular maintenance ought to be done. This system promises significant cost savings since tasks are done only when necessary, thereby aiding in growth of the predictive…
