Market Overview:
The global industrial predictive maintenance market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for predictive maintenance services from various end-user industries, such as government, aerospace and defense, energy and utilities, healthcare, manufacturing, transportation and logistics. In addition, the growing adoption of cloud-based predictive maintenance solutions is also contributing to the growth of this market. However, lack of awareness about benefits offered by predictive maintenance solutions is restraining the growth of this market.
Product Definition:
Industrial Predictive Maintenance (IPM) is a field of engineering that deals with the operation and maintenance of industrial equipment. The goal of IPM is to improve equipment reliability and performance by using data analytics to predict when an asset might fail. This allows operators to take corrective action before a failure actually occurs, improving uptime and reducing costs.
Cloud-Based:
Cloud-based IAM is a new term that refers to the practice of using information and communication technology (ICT) systems in industrial processes. It includes technologies such as cloud computing, big data analytics, social media, IoT devices along with other software solutions for predictive maintenance. Predictive maintenance helps organizations reduce costs related to equipment downtime by identifying problems before they occur and taking preventive measures.
On-premises:
On-premises is a term used for computer software and hardware installed at the customer’s site. It can be used in various industries such as manufacturing, oil & gas, power generation, aerospace & defense etc. In IPM market it is used to refer predictive maintenance software and services which are performed on-premises using computers and other electronic devices connected to the network.
Application Insights:
The manufacturing segment dominated the global predictive maintenance market in terms of revenue share in 2017. The manufacturing sector is one of the most critical sectors that needs to be improved, and downtime can be costly, especially for high-tech or complex products. Owing to this factor, predictive maintenance solutions are being increasingly adopted by manufacturers across various industries such as aerospace and defense.
The energy and utilities application segment is expected to witness significant growth over the forecast period owing to increasing demand from end-use customers for reliable supply services at competitive prices. Predictive maintenance helps reduce power outages by monitoring grid conditions continuously so that if there are any issues with transmission lines or transformers they can be repaired before they fail completely. It also helps avoid long repair delays after a failure has occurred; instead it detects failures early when things still work fine so repairs can start before problems get worse (i.e.
Regional Analysis:
The Asia Pacific regional market accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing investments in industrial facilities, rising adoption of predictive maintenance technologies by enterprises, and growing demand for on-demand availability of resources. Moreover, favorable government initiatives pertaining to implementation of IMT are further anticipated to drive regional market growth. For instance, according to a white paper published by the Indian Ministry of Steel in 2015 titled “Industrial IoT: A Vision And Strategyâ€; it was stated that there has been an increase in governmental support for implementing Industrial IoT applications across various industries including steel manufacturing and oil & gas exploration activities.
Growth Factors:
- Increasing demand for predictive maintenance services from the manufacturing sector to improve equipment reliability and productivity
- Rising popularity of Industrial Internet of Things (IIoT) and big data analytics for predictive maintenance
- Proliferation of cloud-based solutions and services for predictive maintenance
- Growing number of industrial automation projects worldwide
- Emergence of new players in the industrial predictive maintenance market
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Predictive Maintenance Market Research Report
By Type
Cloud-Based, On-premises
By Application
Government, Aerospace and Defense, Energy and Utilities, Healthcare, Manufacturing, Transportation and Logistics
By Companies
Augury Systems, Bosch Software Innovations, C3 IoT, Dell Technologies, Fluke Corporation, General Electric, Hitachi, Honeywell, IBM, PTC, Rapidminer, Rockwell Automation, SAP, SAS Institute, Schneider Electric, Senseye, SKF, Software, Softweb Solutions, T-Systems International, Warwick Analytics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
151
Number of Tables & Figures
106
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Predictive Maintenance Market Report Segments:
The global Industrial Predictive Maintenance market is segmented on the basis of:
Types
Cloud-Based, On-premises
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Government, Aerospace and Defense, Energy and Utilities, Healthcare, Manufacturing, Transportation and Logistics
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Augury Systems
- Bosch Software Innovations
- C3 IoT
- Dell Technologies
- Fluke Corporation
- General Electric
- Hitachi
- Honeywell
- IBM
- PTC
- Rapidminer
- Rockwell Automation
- SAP
- SAS Institute
- Schneider Electric
- Senseye
- SKF
- Software
- Softweb Solutions
- T-Systems International
- Warwick Analytics
Highlights of The Industrial Predictive Maintenance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud-Based
- On-premises
- By Application:
- Government
- Aerospace and Defense
- Energy and Utilities
- Healthcare
- Manufacturing
- Transportation and Logistics
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Predictive Maintenance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Industrial predictive maintenance is a proactive approach to maintaining industrial equipment and systems. It uses data collected from sensors, controllers, and other devices to identify problems before they cause significant damage or failure. Industrial predictive maintenance can help prevent costly repairs or downtime that could impact production.
Some of the major players in the industrial predictive maintenance market are Augury Systems, Bosch Software Innovations, C3 IoT, Dell Technologies, Fluke Corporation, General Electric, Hitachi, Honeywell, IBM, PTC, Rapidminer, Rockwell Automation, SAP, SAS Institute, Schneider Electric, Senseye, SKF, Software, Softweb Solutions, T-Systems International, Warwick Analytics.
The industrial predictive maintenance market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial Predictive Maintenance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Industrial Predictive Maintenance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial Predictive Maintenance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Industrial Predictive Maintenance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Industrial Predictive Maintenance Market Size & Forecast, 2018-2028
4.5.1 Industrial Predictive Maintenance Market Size and Y-o-Y Growth
4.5.2 Industrial Predictive Maintenance Market Absolute $ Opportunity
Chapter 5 Global Industrial Predictive Maintenance Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Industrial Predictive Maintenance Market Size Forecast by Type
5.2.1 Cloud-Based
5.2.2 On-premises
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Industrial Predictive Maintenance Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Industrial Predictive Maintenance Market Size Forecast by Applications
6.2.1 Government
6.2.2 Aerospace and Defense
6.2.3 Energy and Utilities
6.2.4 Healthcare
6.2.5 Manufacturing
6.2.6 Transportation and Logistics
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Industrial Predictive Maintenance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Industrial Predictive Maintenance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Industrial Predictive Maintenance Analysis and Forecast
9.1 Introduction
9.2 North America Industrial Predictive Maintenance Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Industrial Predictive Maintenance Market Size Forecast by Type
9.6.1 Cloud-Based
9.6.2 On-premises
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Industrial Predictive Maintenance Market Size Forecast by Applications
9.10.1 Government
9.10.2 Aerospace and Defense
9.10.3 Energy and Utilities
9.10.4 Healthcare
9.10.5 Manufacturing
9.10.6 Transportation and Logistics
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Industrial Predictive Maintenance Analysis and Forecast
10.1 Introduction
10.2 Europe Industrial Predictive Maintenance Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Industrial Predictive Maintenance Market Size Forecast by Type
10.6.1 Cloud-Based
10.6.2 On-premises
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Industrial Predictive Maintenance Market Size Forecast by Applications
10.10.1 Government
10.10.2 Aerospace and Defense
10.10.3 Energy and Utilities
10.10.4 Healthcare
10.10.5 Manufacturing
10.10.6 Transportation and Logistics
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Industrial Predictive Maintenance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Industrial Predictive Maintenance Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Industrial Predictive Maintenance Market Size Forecast by Type
11.6.1 Cloud-Based
11.6.2 On-premises
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Industrial Predictive Maintenance Market Size Forecast by Applications
11.10.1 Government
11.10.2 Aerospace and Defense
11.10.3 Energy and Utilities
11.10.4 Healthcare
11.10.5 Manufacturing
11.10.6 Transportation and Logistics
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Industrial Predictive Maintenance Analysis and Forecast
12.1 Introduction
12.2 Latin America Industrial Predictive Maintenance Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Industrial Predictive Maintenance Market Size Forecast by Type
12.6.1 Cloud-Based
12.6.2 On-premises
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Industrial Predictive Maintenance Market Size Forecast by Applications
12.10.1 Government
12.10.2 Aerospace and Defense
12.10.3 Energy and Utilities
12.10.4 Healthcare
12.10.5 Manufacturing
12.10.6 Transportation and Logistics
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Industrial Predictive Maintenance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Industrial Predictive Maintenance Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Industrial Predictive Maintenance Market Size Forecast by Type
13.6.1 Cloud-Based
13.6.2 On-premises
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Industrial Predictive Maintenance Market Size Forecast by Applications
13.10.1 Government
13.10.2 Aerospace and Defense
13.10.3 Energy and Utilities
13.10.4 Healthcare
13.10.5 Manufacturing
13.10.6 Transportation and Logistics
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Industrial Predictive Maintenance Market: Competitive Dashboard
14.2 Global Industrial Predictive Maintenance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Augury Systems
14.3.2 Bosch Software Innovations
14.3.3 C3 IoT
14.3.4 Dell Technologies
14.3.5 Fluke Corporation
14.3.6 General Electric
14.3.7 Hitachi
14.3.8 Honeywell
14.3.9 IBM
14.3.10 PTC
14.3.11 Rapidminer
14.3.12 Rockwell Automation
14.3.13 SAP
14.3.14 SAS Institute
14.3.15 Schneider Electric
14.3.16 Senseye
14.3.17 SKF
14.3.18 Software
14.3.19 Softweb Solutions
14.3.20 T-Systems International
14.3.21 Warwick Analytics
