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Predictive Maintenance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global predictive maintenance market reached a value of US$ 5.95 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 28.44 Billion by 2027, exhibiting a CAGR of 27.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor. 

Predictive maintenance is a technology that relies on condition-monitoring tools and devices to track the functioning of equipment during an operation. It has sensors for recording a wide range of data, such as temperature, vibrations, and conductivity, which enables an engineer to predict the failure of an asset while allowing it to be repaired or replaced in advance. It helps maximize the life of an asset and reduce maintenance costs and equipment downtime. As a result, predictive maintenance finds extensive applications in the manufacturing, energy and utilities, aerospace, defense, transportation and logistics, and healthcare industries worldwide.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Predictive Maintenance Market Trends:

At present, there is a rise in the utilization of machine-to-machine (M2M) communication and cloud technology to investigate the information derived from industrial assets across the globe. This, along with the growing employment of artificial intelligence (AI) technology to transform a considerable volume of data produced by various components of the internet of things (IoT) ecosystem into meaningful insights, represents one of the key factors driving the market. Besides this, increasing investments in predictive maintenance to extend the lifespan of aging industrial machinery is propelling the growth of the market around the world. In addition, the rising demand for predictive maintenance to track remote working and asset management is offering lucrative growth opportunities to industry investors and key market players. Moreover, the growing applications of predictive maintenance in X-ray, tomography and mammography to improve decision-making capabilities and operational efficiencies are positively influencing the market. Apart from this, the increasing adoption of real-time streaming analytics technology in various organizations to process and analyze data records continuously is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global predictive maintenance market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, technique, deployment type, organization size and industry vertical.

Breakup by Component:

  • Solution
  • Service
     

Breakup by Technique:

 

 
 

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  • Vibration Monitoring
  • Electrical Testing
  • Oil Analysis
  • Ultrasonic Leak Detectors
  • Shock Pulse
  • Infrared
  • Others
     

Breakup by Deployment Type:

  • Cloud-based
  • On-premises
     

Breakup by Organization Size:

  • Small and Medium-sized Enterprises 
  • Large Enterprises
     

Breakup by Industry Vertical:

  • Manufacturing
  • Energy and Utilities
  • Aerospace and Defense
  • Transportation and Logistics
  • Government
  • Healthcare
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Asystom, C3.ai Inc., General Electric Company, Google LLC (Alphabet Inc.), Hitachi Ltd., International Business Machines Corporation, Microsoft Corporation, PTC Inc., SAP SE, Software AG, Tibco Software Inc. and Uptake Technologies Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Technique, Deployment Type, Organization Size, Industry Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Asystom, C3.ai Inc., General Electric Company, Google LLC (Alphabet Inc.), Hitachi Ltd., International Business Machines Corporation, Microsoft Corporation, PTC Inc., SAP SE, Software AG, Tibco Software Inc. and Uptake Technologies Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Predictive Maintenance Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Component
    6.1    Solution
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Service
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Technique
    7.1    Vibration Monitoring
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Electrical Testing
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Oil Analysis
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Ultrasonic Leak Detectors
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Shock Pulse
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Infrared
        7.6.1 Market Trends
        7.6.2 Market Forecast
    7.7    Others
        7.7.1 Market Trends
        7.7.2 Market Forecast
8    Market Breakup by Deployment Type
    8.1    Cloud-based
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    On-premises
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Organization Size
    9.1    Small and Medium-sized Enterprises 
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Large Enterprises
        9.2.1 Market Trends
        9.2.2 Market Forecast
10    Market Breakup by Industry Vertical
    10.1    Manufacturing
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2    Energy and Utilities
        10.2.1 Market Trends
        10.2.2 Market Forecast
    10.3    Aerospace and Defense
        10.3.1 Market Trends
        10.3.2 Market Forecast
    10.4    Transportation and Logistics
        10.4.1 Market Trends
        10.4.2 Market Forecast
    10.5    Government
        10.5.1 Market Trends
        10.5.2 Market Forecast
    10.6    Healthcare
        10.6.1 Market Trends
        10.6.2 Market Forecast
    10.7    Others
        10.7.1 Market Trends
        10.7.2 Market Forecast
11    Market Breakup by Region
    11.1    North America
        11.1.1 United States
           11.1.1.1 Market Trends
           11.1.1.2 Market Forecast
        11.1.2 Canada
           11.1.2.1 Market Trends
           11.1.2.2 Market Forecast
    11.2    Asia-Pacific
        11.2.1 China
           11.2.1.1 Market Trends
           11.2.1.2 Market Forecast
        11.2.2 Japan
           11.2.2.1 Market Trends
           11.2.2.2 Market Forecast
        11.2.3 India
           11.2.3.1 Market Trends
           11.2.3.2 Market Forecast
        11.2.4 South Korea
           11.2.4.1 Market Trends
           11.2.4.2 Market Forecast
        11.2.5 Australia
           11.2.5.1 Market Trends
           11.2.5.2 Market Forecast
        11.2.6 Indonesia
           11.2.6.1 Market Trends
           11.2.6.2 Market Forecast
        11.2.7 Others
           11.2.7.1 Market Trends
           11.2.7.2 Market Forecast
    11.3    Europe
        11.3.1 Germany
           11.3.1.1 Market Trends
           11.3.1.2 Market Forecast
        11.3.2 France
           11.3.2.1 Market Trends
           11.3.2.2 Market Forecast
        11.3.3 United Kingdom
           11.3.3.1 Market Trends
           11.3.3.2 Market Forecast
        11.3.4 Italy
           11.3.4.1 Market Trends
           11.3.4.2 Market Forecast
        11.3.5 Spain
           11.3.5.1 Market Trends
           11.3.5.2 Market Forecast
        11.3.6 Russia
           11.3.6.1 Market Trends
           11.3.6.2 Market Forecast
        11.3.7 Others
           11.3.7.1 Market Trends
           11.3.7.2 Market Forecast
    11.4    Latin America
        11.4.1 Brazil
           11.4.1.1 Market Trends
           11.4.1.2 Market Forecast
        11.4.2 Mexico
           11.4.2.1 Market Trends
           11.4.2.2 Market Forecast
        11.4.3 Others
           11.4.3.1 Market Trends
           11.4.3.2 Market Forecast
    11.5    Middle East and Africa
        11.5.1 Market Trends
        11.5.2 Market Breakup by Country
        11.5.3 Market Forecast
12    SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13    Value Chain Analysis
14    Porters Five Forces Analysis
    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15    Price Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    Asystom
           16.3.1.1 Company Overview
           16.3.1.2 Product Portfolio
        16.3.2    C3.ai Inc.
           16.3.2.1 Company Overview
           16.3.2.2 Product Portfolio
           16.3.2.3 Financials
        16.3.3    General Electric Company
           16.3.3.1 Company Overview
           16.3.3.2 Product Portfolio
           16.3.3.3 Financials
           16.3.3.4 SWOT Analysis
        16.3.4    Google LLC (Alphabet Inc.)
           16.3.4.1 Company Overview
           16.3.4.2 Product Portfolio
           16.3.4.3 SWOT Analysis
        16.3.5    Hitachi Ltd.
           16.3.5.1 Company Overview
           16.3.5.2 Product Portfolio
           16.3.5.3 Financials
           16.3.5.4 SWOT Analysis
        16.3.6    International Business Machines Corporation
           16.3.6.1 Company Overview
           16.3.6.2 Product Portfolio
           16.3.6.3 Financials
           16.3.6.4 SWOT Analysis
        16.3.7    Microsoft Corporation
           16.3.7.1 Company Overview
           16.3.7.2 Product Portfolio
           16.3.7.3 Financials
           16.3.7.4 SWOT Analysis
        16.3.8    PTC Inc.
           16.3.8.1 Company Overview
           16.3.8.2 Product Portfolio
           16.3.8.3 Financials
           16.3.8.4 SWOT Analysis
        16.3.9    SAP SE
           16.3.9.1 Company Overview
           16.3.9.2 Product Portfolio
           16.3.9.3 Financials
           16.3.9.4 SWOT Analysis
        16.3.10    Software AG
           16.3.10.1 Company Overview
           16.3.10.2 Product Portfolio
           16.3.10.3 Financials
        16.3.11    Tibco Software Inc.
           16.3.11.1 Company Overview
           16.3.11.2 Product Portfolio
           16.3.11.3 SWOT Analysis
        16.3.12    Uptake Technologies Inc.
           16.3.12.1 Company Overview
           16.3.12.2 Product Portfolio

List of Figures

Figure 1: Global: Predictive Maintenance Market: Major Drivers and Challenges
Figure 2: Global: Predictive Maintenance Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Predictive Maintenance Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Predictive Maintenance Market: Breakup by Component (in %), 2021
Figure 5: Global: Predictive Maintenance Market: Breakup by Technique (in %), 2021
Figure 6: Global: Predictive Maintenance Market: Breakup by Deployment Type (in %), 2021
Figure 7: Global: Predictive Maintenance Market: Breakup by Organization Size (in %), 2021
Figure 8: Global: Predictive Maintenance Market: Breakup by Industry Vertical (in %), 2021
Figure 9: Global: Predictive Maintenance Market: Breakup by Region (in %), 2021
Figure 10: Global: Predictive Maintenance (Solution) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Predictive Maintenance (Solution) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Predictive Maintenance (Service) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Predictive Maintenance (Service) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Predictive Maintenance (Vibration Monitoring) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Predictive Maintenance (Vibration Monitoring) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Predictive Maintenance (Electrical Testing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Predictive Maintenance (Electrical Testing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Predictive Maintenance (Oil Analysis) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Predictive Maintenance (Oil Analysis) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Predictive Maintenance (Ultrasonic Leak Detectors) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Predictive Maintenance (Ultrasonic Leak Detectors) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Predictive Maintenance (Shock Pulse) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Predictive Maintenance (Shock Pulse) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Predictive Maintenance (Infrared) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Predictive Maintenance (Infrared) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Predictive Maintenance (Other Techniques) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Predictive Maintenance (Other Techniques) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Predictive Maintenance (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Predictive Maintenance (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Predictive Maintenance (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Predictive Maintenance (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Predictive Maintenance (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Predictive Maintenance (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Predictive Maintenance (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Predictive Maintenance (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Predictive Maintenance (Manufacturing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Predictive Maintenance (Manufacturing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Predictive Maintenance (Energy and Utilities) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Predictive Maintenance (Energy and Utilities) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Predictive Maintenance (Aerospace and Defense) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Predictive Maintenance (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Predictive Maintenance (Transportation and Logistics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Predictive Maintenance (Transportation and Logistics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Global: Predictive Maintenance (Government) Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Predictive Maintenance (Government) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Global: Predictive Maintenance (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Global: Predictive Maintenance (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Global: Predictive Maintenance (Other Industry Verticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Global: Predictive Maintenance (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: North America: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: North America: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: United States: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: United States: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Canada: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Canada: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Asia-Pacific: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Asia-Pacific: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: China: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: China: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Japan: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Japan: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: India: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: India: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: South Korea: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: South Korea: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Australia: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Australia: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Indonesia: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Indonesia: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Others: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Others: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Europe: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Europe: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Germany: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Germany: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: France: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: France: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: United Kingdom: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: United Kingdom: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Italy: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Italy: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Spain: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Spain: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Russia: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Russia: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Others: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Others: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Latin America: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Latin America: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 90: Brazil: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 91: Brazil: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 92: Mexico: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 93: Mexico: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 94: Others: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 95: Others: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 96: Middle East and Africa: Predictive Maintenance Market: Sales Value (in Million US$), 2016 & 2021
Figure 97: Middle East and Africa: Predictive Maintenance Market: Breakup by Country (in %), 2021
Figure 98: Middle East and Africa: Predictive Maintenance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 99: Global: Predictive Maintenance Industry: SWOT Analysis
Figure 100: Global: Predictive Maintenance Industry: Value Chain Analysis
Figure 101: Global: Predictive Maintenance Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Predictive Maintenance Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Predictive Maintenance Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Predictive Maintenance Market Forecast: Breakup by Technique (in Million US$), 2022-2027
Table 4: Global: Predictive Maintenance Market Forecast: Breakup by Deployment Type (in Million US$), 2022-2027
Table 5: Global: Predictive Maintenance Market Forecast: Breakup by Organization Size (in Million US$), 2022-2027
Table 6: Global: Predictive Maintenance Market Forecast: Breakup by Industry Vertical (in Million US$), 2022-2027
Table 7: Global: Predictive Maintenance Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Predictive Maintenance Market: Competitive Structure
Table 9: Global: Predictive Maintenance Market: Key Players


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Key Questions Answered in This Report

The global predictive maintenance market was valued at US$ 5.95 Billion in 2021.

We expect the global predictive maintenance market to exhibit a CAGR of 27.60% during 2022-2027.

The rising adoption of real-time streaming analytics technologies, such as predictive maintenance,
across various organizations to constantly process and analyze data records is primarily driving the
global predictive maintenance market.

The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of predictive
maintenance technology to track remote working and asset management during the implementation of
stringent lockdown regulations across several nations.

Based on the component, the global predictive maintenance market can be segmented into solution and
service. Currently, solution holds the majority of the total market share.

Based on the technique, the global predictive maintenance market has been divided into vibration
monitoring, electrical testing, oil analysis, ultrasonic leak detectors, shock pulse, infrared, and others.
Among these, vibration monitoring currently exhibits a clear dominance in the market.

Based on the deployment type, the global predictive maintenance market can be categorized into cloud-
based and on-premises. Currently, on-premises deployment accounts for the majority of the global
market share.

Based on the organization size, the global predictive maintenance market has been segregated into
small and medium-sized enterprises and large enterprises, where large enterprises currently hold the
largest market share.

Based on the industry vertical, the global predictive maintenance market can be bifurcated into
manufacturing, energy and utilities, aerospace and defense, transportation and logistics, government,
healthcare, and others. Among these, the manufacturing industry exhibits a clear dominance in the
market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global predictive maintenance market include Asystom, C3.ai Inc.,
General Electric Company, Google LLC (Alphabet Inc.), Hitachi Ltd., International Business Machines
Corporation, Microsoft Corporation, PTC Inc., SAP SE, Software AG, Tibco Software Inc., and Uptake
Technologies Inc.

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