NEW YORK, June 28, 2023 /PRNewswire/ — The latest report on the predictive maintenance (PdM) market from 2022 to 2027 estimates to register an incremental growth of USD 16,576.78 million, at a CAGR of 29.44% during the forecast period. North America is estimated to account for 39% of the global market growth during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
What’s New?
Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession Global competitiveness and key competitor positions Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – buy the report!Predictive Maintenance (PdM) Market – Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on Component (Solutions and Service), Deployment (On-premise and Cloud), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
The predictive maintenance market share growth by the solutions segment will be significant for overall market growth during the forecast period. The rising adoption of PdM solutions in various growing sectors such as energy and utilities, manufacturing, and healthcare is boosting the growth of the PdM market globally. Additionally, PdM integration guarantees the return on investment (ROI) and helps organizations meet and exceed sustainability goals, enabling remote machine monitoring globally. Hence, high-growth industries such as aerospace, defense, and automotive are also increasingly integrating PdM platforms into their systems, which supports the growth of this segment. Geography OverviewBy geography, the global predictive maintenance (PDM) market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global predictive maintenance (PDM) market.
North America is estimated to account for 39% of the global market growth during the forecast period. The region is dominant because it is an early adopter of sophisticated technology. There are huge amounts of data produced in this region, which drives the market for advanced analytics to consume the data and discover intelligent relationships and insights. Additionally, the region is tech-mature, and the industrial sector across the region is completely developed, which is leading to the easy adoption of advanced software solutions to drive efficiency and productivity. Hence, such factors boost regional market growth. Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report
Predictive Maintenance (PdM) Market – Market DynamicsKey factor driving PdM market growth
The increased adoption of advanced analytics by SMEs owing to the rise in cloud computing is notably driving market growth.The cloud PdM tools adoption provides SMEs with new opportunities by leveraging technologies, such as mobility, AI, and IoT. PdM tools are adopted through the cloud across SMEs for better management of business operations through a centralized management system, with improved collaboration, productivity, simplified compliance, and risk management. Leading trends influencing the market
The proliferation of advanced technologies, AI, and IoT is an emerging trend in the global PdM market growth. The technological capability of organizations around the world is expected to rise with the adoption of advanced business intelligence systems during the forecast period, which would serve as an uptick in the global PdM market.Furthermore, the technological capability of organizations around the world is expected to rise with the adoption of advanced business intelligence systems during the forecast period, which would serve as an uptick in the global PdM market.Hence, such factors drive the PDM market growth during the forecast period.Major challenges hindering the market growth
Lack of expertise and technical knowledge is a major challenge hindering the growth of the global PdM market. The shortage of talented people and niche skills to manage and operate predictive analytics is a constant challenge for enterprises. PdM helps prevent equipment failure through corrective or planned maintenance. Additionally, PdM cannot exist without health monitoring.This part of developing an accurate and efficient model is a vital aspect of micro-segmentation since it requires extensive expertise.Hence, a lack of expertise and technical knowledge will negatively impact the growth of the global PdM market during the forecast period.Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Predictive Maintenance (PdM) Market report?
CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the Predictive Maintenance (PdM) Market between 2023 and 2027Precise estimation of the size of the Predictive Maintenance (PdM) Market size and its contribution to the market in focus on the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the Predictive Maintenance (PdM) Market industry across North America, Europe, APAC, South America, and Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of Predictive Maintenance (PdM) Market vendorsGain instant access to 17,000+ market research reports.
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Related Reports:The industrial predictive maintenance market in APAC is expected to increase by USD 7.44 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 34.71%. Furthermore, this report extensively covers the industrial predictive maintenance market in APAC segmentation by End-user (oil and gas, chemical and petrochemical, aerospace and defense, power generation, and others), deployment (cloud and on-premises), and geography (China, Japan, India, and Rest of APAC). Shift from reactive to predictive maintenance is one of the key industrial predictive maintenance market trends that is expected to impact the industry positively in the forecast period.
The predictive analytics market size is expected to increase to USD 17.00 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 21.36%. Furthermore, this report extensively covers predictive analytics market segmentation by deployment (cloud-based and on-premises) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The requirement of advanced analytics for operational efficiency is notably driving the predictive analytics market growth.
Predictive Maintenance (PdM) Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 29.44%
Market growth 2023-2027
USD 16,576.78 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
28.0
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 39%
Key countries
US, Canada, China, UK, and Germany
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Augury Inc., Avnet Inc., C3.ai Inc., Dell Technologies Inc., Deutsche Telekom AG, Fortive Corp., General Electric Co., Hitachi Ltd., Honeywell International Inc., International Business Machines Corp., PTC Inc., RapidMiner Inc., Reliability Solutions sp. z o.o., Robert Bosch GmbH, Rockwell Automation Inc., SAP SE, SAS Institute Inc., Schneider Electric SE, Siemens AG, and Warwick Analytics Services Ltd.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
1 Executive Summary
1.1 Market overview Exhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by ComponentExhibit 06: Executive Summary – Chart on Market Segmentation by DeploymentExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning2 Market Landscape
2.1 Market ecosystem Exhibit 10: Parent marketExhibit 11: Market Characteristics3 Market Sizing
3.1 Market definition Exhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 2022 3.4 Market outlook: Forecast for 2022-2027Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)4 Historic Market Size
4.1 Global predictive maintenance (PdM) market 2017 – 2021 Exhibit 18: Historic Market Size – Data Table on global predictive maintenance (pdm) market 2017 – 2021 ($ million)4.2 Component Segment Analysis 2017 – 2021Exhibit 19: Historic Market Size – Component Segment 2017 – 2021 ($ million)4.3 Deployment Segment Analysis 2017 – 2021Exhibit 20: Historic Market Size – Deployment Segment 2017 – 2021 ($ million)4.4 Geography Segment Analysis 2017 – 2021Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)4.5 Country Segment Analysis 2017 – 2021Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)5 Five Forces Analysis
5.1 Five forces summary Exhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalry Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market condition Exhibit 29: Chart on Market condition – Five forces 2022 and 20276 Market Segmentation by Component
6.1 Market segments Exhibit 30: Chart on Component – Market share 2022-2027 (%)Exhibit 31: Data Table on Component – Market share 2022-2027 (%)6.2 Comparison by Component Exhibit 32: Chart on Comparison by ComponentExhibit 33: Data Table on Comparison by Component6.3 Solutions – Market size and forecast 2022-2027Exhibit 34: Chart on Solutions – Market size and forecast 2022-2027 ($ million)Exhibit 35: Data Table on Solutions – Market size and forecast 2022-2027 ($ million)Exhibit 36: Chart on Solutions – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Solutions – Year-over-year growth 2022-2027 (%)6.4 Service – Market size and forecast 2022-2027Exhibit 38: Chart on Service – Market size and forecast 2022-2027 ($ million)Exhibit 39: Data Table on Service – Market size and forecast 2022-2027 ($ million)Exhibit 40: Chart on Service – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on Service – Year-over-year growth 2022-2027 (%)6.5 Market opportunity by Component Exhibit 42: Market opportunity by Component ($ million)Exhibit 43: Data Table on Market opportunity by Component ($ million)7 Market Segmentation by Deployment
7.1 Market segments Exhibit 44: Chart on Deployment – Market share 2022-2027 (%)Exhibit 45: Data Table on Deployment – Market share 2022-2027 (%)7.2 Comparison by Deployment Exhibit 46: Chart on Comparison by DeploymentExhibit 47: Data Table on Comparison by Deployment7.3 On-premise – Market size and forecast 2022-2027Exhibit 48: Chart on On-premise – Market size and forecast 2022-2027 ($ million)Exhibit 49: Data Table on On-premise – Market size and forecast 2022-2027 ($ million)Exhibit 50: Chart on On-premise – Year-over-year growth 2022-2027 (%)Exhibit 51: Data Table on On-premise – Year-over-year growth 2022-2027 (%)7.4 Cloud – Market size and forecast 2022-2027Exhibit 52: Chart on Cloud – Market size and forecast 2022-2027 ($ million)Exhibit 53: Data Table on Cloud – Market size and forecast 2022-2027 ($ million)Exhibit 54: Chart on Cloud – Year-over-year growth 2022-2027 (%)Exhibit 55: Data Table on Cloud – Year-over-year growth 2022-2027 (%)7.5 Market opportunity by Deployment Exhibit 56: Market opportunity by Deployment ($ million)Exhibit 57: Data Table on Market opportunity by Deployment ($ million)8 Customer Landscape
8.1 Customer landscape overview Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria9 Geographic Landscape
9.1 Geographic segmentation Exhibit 59: Chart on Market share by geography 2022-2027 (%)Exhibit 60: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 61: Chart on Geographic comparisonExhibit 62: Data Table on Geographic comparison9.3 North America – Market size and forecast 2022-2027Exhibit 63: Chart on North America – Market size and forecast 2022-2027 ($ million)Exhibit 64: Data Table on North America – Market size and forecast 2022-2027 ($ million)Exhibit 65: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 66: Data Table on North America – Year-over-year growth 2022-2027 (%)9.4 Europe – Market size and forecast 2022-2027Exhibit 67: Chart on Europe – Market size and forecast 2022-2027 ($ million)Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 ($ million)Exhibit 69: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 70: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.5 APAC – Market size and forecast 2022-2027Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.6 South America – Market size and forecast 2022-2027Exhibit 75: Chart on South America – Market size and forecast 2022-2027 ($ million)Exhibit 76: Data Table on South America – Market size and forecast 2022-2027 ($ million)Exhibit 77: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 78: Data Table on South America – Year-over-year growth 2022-2027 (%)9.7 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027Exhibit 83: Chart on US – Market size and forecast 2022-2027 ($ million)Exhibit 84: Data Table on US – Market size and forecast 2022-2027 ($ million)Exhibit 85: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 86: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 China – Market size and forecast 2022-2027Exhibit 87: Chart on China – Market size and forecast 2022-2027 ($ million)Exhibit 88: Data Table on China – Market size and forecast 2022-2027 ($ million)Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)9.10 UK – Market size and forecast 2022-2027Exhibit 91: Chart on UK – Market size and forecast 2022-2027 ($ million)Exhibit 92: Data Table on UK – Market size and forecast 2022-2027 ($ million)Exhibit 93: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 94: Data Table on UK – Year-over-year growth 2022-2027 (%)9.11 Canada – Market size and forecast 2022-2027Exhibit 95: Chart on Canada – Market size and forecast 2022-2027 ($ million)Exhibit 96: Data Table on Canada – Market size and forecast 2022-2027 ($ million)Exhibit 97: Chart on Canada – Year-over-year growth 2022-2027 (%)Exhibit 98: Data Table on Canada – Year-over-year growth 2022-2027 (%)9.12 Germany – Market size and forecast 2022-2027Exhibit 99: Chart on Germany – Market size and forecast 2022-2027 ($ million)Exhibit 100: Data Table on Germany – Market size and forecast 2022-2027 ($ million)Exhibit 101: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 102: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 103: Market opportunity by geography ($ million)Exhibit 104: Data Tables on Market opportunity by geography ($ million)10 Drivers, Challenges, and Trends
10.1 Market drivers 10.2 Market challenges 10.3 Impact of drivers and challenges Exhibit 105: Impact of drivers and challenges in 2022 and 202710.4 Market trends 11 Vendor Landscape
11.1 Overview 11.2 Vendor landscape Exhibit 106: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruption Exhibit 107: Overview on factors of disruption11.4 Industry risks Exhibit 108: Impact of key risks on business12 Vendor Analysis
12.1 Vendors covered Exhibit 109: Vendors covered12.2 Market positioning of vendors Exhibit 110: Matrix on vendor position and classification12.3 Augury Inc. Exhibit 111: Augury Inc. – OverviewExhibit 112: Augury Inc. – Product / ServiceExhibit 113: Augury Inc. – Key offerings12.4 C3.ai Inc. Exhibit 114: C3.ai Inc. – OverviewExhibit 115: C3.ai Inc. – Business segmentsExhibit 116: C3.ai Inc. – Key offeringsExhibit 117: C3.ai Inc. – Segment focus12.5 Dell Technologies Inc. Exhibit 118: Dell Technologies Inc. – OverviewExhibit 119: Dell Technologies Inc. – Business segmentsExhibit 120: Dell Technologies Inc. – Key offeringsExhibit 121: Dell Technologies Inc. – Segment focus12.6 Fortive Corp. Exhibit 122: Fortive Corp. – OverviewExhibit 123: Fortive Corp. – Business segmentsExhibit 124: Fortive Corp. – Key newsExhibit 125: Fortive Corp. – Key offeringsExhibit 126: Fortive Corp. – Segment focus12.7 General Electric Co. Exhibit 127: General Electric Co. – OverviewExhibit 128: General Electric Co. – Business segmentsExhibit 129: General Electric Co. – Key newsExhibit 130: General Electric Co. – Key offeringsExhibit 131: General Electric Co. – Segment focus12.8 Hitachi Ltd. Exhibit 132: Hitachi Ltd. – OverviewExhibit 133: Hitachi Ltd. – Business segmentsExhibit 134: Hitachi Ltd. – Key newsExhibit 135: Hitachi Ltd. – Key offeringsExhibit 136: Hitachi Ltd. – Segment focus12.9 Honeywell International Inc. Exhibit 137: Honeywell International Inc. – OverviewExhibit 138: Honeywell International Inc. – Business segmentsExhibit 139: Honeywell International Inc. – Key newsExhibit 140: Honeywell International Inc. – Key offeringsExhibit 141: Honeywell International Inc. – Segment focus12.10 International Business Machines Corp.Exhibit 142: International Business Machines Corp. – OverviewExhibit 143: International Business Machines Corp. – Business segmentsExhibit 144: International Business Machines Corp. – Key newsExhibit 145: International Business Machines Corp. – Key offeringsExhibit 146: International Business Machines Corp. – Segment focus12.11 PTC Inc. Exhibit 147: PTC Inc. – OverviewExhibit 148: PTC Inc. – Business segmentsExhibit 149: PTC Inc. – Key offeringsExhibit 150: PTC Inc. – Segment focus12.12 RapidMiner Inc. Exhibit 151: RapidMiner Inc. – OverviewExhibit 152: RapidMiner Inc. – Product / ServiceExhibit 153: RapidMiner Inc. – Key offerings12.13 Robert Bosch GmbH Exhibit 154: Robert Bosch GmbH – OverviewExhibit 155: Robert Bosch GmbH – Business segmentsExhibit 156: Robert Bosch GmbH – Key newsExhibit 157: Robert Bosch GmbH – Key offeringsExhibit 158: Robert Bosch GmbH – Segment focus12.14 Rockwell Automation Inc. Exhibit 159: Rockwell Automation Inc. – OverviewExhibit 160: Rockwell Automation Inc. – Business segmentsExhibit 161: Rockwell Automation Inc. – Key newsExhibit 162: Rockwell Automation Inc. – Key offeringsExhibit 163: Rockwell Automation Inc. – Segment focus12.15 SAP SE Exhibit 164: SAP SE – OverviewExhibit 165: SAP SE – Business segmentsExhibit 166: SAP SE – Key newsExhibit 167: SAP SE – Key offeringsExhibit 168: SAP SE – Segment focus12.16 SAS Institute Inc. Exhibit 169: SAS Institute Inc. – OverviewExhibit 170: SAS Institute Inc. – Product / ServiceExhibit 171: SAS Institute Inc. – Key newsExhibit 172: SAS Institute Inc. – Key offerings12.17 Schneider Electric SE Exhibit 173: Schneider Electric SE – OverviewExhibit 174: Schneider Electric SE – Business segmentsExhibit 175: Schneider Electric SE – Key newsExhibit 176: Schneider Electric SE – Key offeringsExhibit 177: Schneider Electric SE – Segment focus13 Appendix
13.1 Scope of the report 13.2 Inclusions and exclusions checklistExhibit 178: Inclusions checklistExhibit 179: Exclusions checklist13.3 Currency conversion rates for US$ Exhibit 180: Currency conversion rates for US$13.4 Research methodology Exhibit 181: Research methodologyExhibit 182: Validation techniques employed for market sizingExhibit 183: Information sources13.5 List of abbreviations Exhibit 184: List of abbreviationsAbout UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.comWebsite: www.technavio.com
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SOURCE Technavio
NEW YORK, June 28, 2023 /PRNewswire/ — The latest report on the predictive maintenance (PdM) market from 2022 to 2027 estimates to register an incremental growth of USD 16,576.78 million, at a CAGR of 29.44% during the forecast period. North America is estimated to account for 39% of the global market growth during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
What’s New?
Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession Global competitiveness and key competitor positions Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – buy the report!
Predictive Maintenance (PdM) Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on Component (Solutions and Service), Deployment (On-premise and Cloud), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
The predictive maintenance market share growth by the solutions segment will be significant for overall market growth during the forecast period. The rising adoption of PdM solutions in various growing sectors such as energy and utilities, manufacturing, and healthcare is boosting the growth of the PdM market globally. Additionally, PdM integration guarantees the return on investment (ROI) and helps organizations meet and exceed sustainability goals, enabling remote machine monitoring globally. Hence, high-growth industries such as aerospace, defense, and automotive are also increasingly integrating PdM platforms into their systems, which supports the growth of this segment.
Geography Overview
By geography, the global predictive maintenance (PDM) market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global predictive maintenance (PDM) market.
North America is estimated to account for 39% of the global market growth during the forecast period. The region is dominant because it is an early adopter of sophisticated technology. There are huge amounts of data produced in this region, which drives the market for advanced analytics to consume the data and discover intelligent relationships and insights. Additionally, the region is tech-mature, and the industrial sector across the region is completely developed, which is leading to the easy adoption of advanced software solutions to drive efficiency and productivity. Hence, such factors boost regional market growth.
Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report
Predictive Maintenance (PdM) Market – Market Dynamics
Key factor driving PdM market growth
The increased adoption of advanced analytics by SMEs owing to the rise in cloud computing is notably driving market growth.The cloud PdM tools adoption provides SMEs with new opportunities by leveraging technologies, such as mobility, AI, and IoT. PdM tools are adopted through the cloud across SMEs for better management of business operations through a centralized management system, with improved collaboration, productivity, simplified compliance, and risk management.
Leading trends influencing the market
The proliferation of advanced technologies, AI, and IoT is an emerging trend in the global PdM market growth. The technological capability of organizations around the world is expected to rise with the adoption of advanced business intelligence systems during the forecast period, which would serve as an uptick in the global PdM market.Furthermore, the technological capability of organizations around the world is expected to rise with the adoption of advanced business intelligence systems during the forecast period, which would serve as an uptick in the global PdM market.Hence, such factors drive the PDM market growth during the forecast period.
Major challenges hindering the market growth
Lack of expertise and technical knowledge is a major challenge hindering the growth of the global PdM market. The shortage of talented people and niche skills to manage and operate predictive analytics is a constant challenge for enterprises. PdM helps prevent equipment failure through corrective or planned maintenance. Additionally, PdM cannot exist without health monitoring.This part of developing an accurate and efficient model is a vital aspect of micro-segmentation since it requires extensive expertise.Hence, a lack of expertise and technical knowledge will negatively impact the growth of the global PdM market during the forecast period.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Predictive Maintenance (PdM) Market report?
CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the Predictive Maintenance (PdM) Market between 2023 and 2027Precise estimation of the size of the Predictive Maintenance (PdM) Market size and its contribution to the market in focus on the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the Predictive Maintenance (PdM) Market industry across North America, Europe, APAC, South America, and Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of Predictive Maintenance (PdM) Market vendors
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Related Reports:
The industrial predictive maintenance market in APAC is expected to increase by USD 7.44 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 34.71%. Furthermore, this report extensively covers the industrial predictive maintenance market in APAC segmentation by End-user (oil and gas, chemical and petrochemical, aerospace and defense, power generation, and others), deployment (cloud and on-premises), and geography (China, Japan, India, and Rest of APAC). Shift from reactive to predictive maintenance is one of the key industrial predictive maintenance market trends that is expected to impact the industry positively in the forecast period.
The predictive analytics market size is expected to increase to USD 17.00 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 21.36%. Furthermore, this report extensively covers predictive analytics market segmentation by deployment (cloud-based and on-premises) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The requirement of advanced analytics for operational efficiency is notably driving the predictive analytics market growth.
Predictive Maintenance (PdM) Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 29.44%
Market growth 2023-2027
USD 16,576.78 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
28.0
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 39%
Key countries
US, Canada, China, UK, and Germany
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Augury Inc., Avnet Inc., C3.ai Inc., Dell Technologies Inc., Deutsche Telekom AG, Fortive Corp., General Electric Co., Hitachi Ltd., Honeywell International Inc., International Business Machines Corp., PTC Inc., RapidMiner Inc., Reliability Solutions sp. z o.o., Robert Bosch GmbH, Rockwell Automation Inc., SAP SE, SAS Institute Inc., Schneider Electric SE, Siemens AG, and Warwick Analytics Services Ltd.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
1 Executive Summary
1.1 Market overview Exhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by ComponentExhibit 06: Executive Summary – Chart on Market Segmentation by DeploymentExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem Exhibit 10: Parent marketExhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition Exhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 2022 3.4 Market outlook: Forecast for 2022-2027Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global predictive maintenance (PdM) market 2017 – 2021 Exhibit 18: Historic Market Size – Data Table on global predictive maintenance (pdm) market 2017 – 2021 ($ million)4.2 Component Segment Analysis 2017 – 2021Exhibit 19: Historic Market Size – Component Segment 2017 – 2021 ($ million)4.3 Deployment Segment Analysis 2017 – 2021Exhibit 20: Historic Market Size – Deployment Segment 2017 – 2021 ($ million)4.4 Geography Segment Analysis 2017 – 2021Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)4.5 Country Segment Analysis 2017 – 2021Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
5.1 Five forces summary Exhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalry Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market condition Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Component
6.1 Market segments Exhibit 30: Chart on Component – Market share 2022-2027 (%)Exhibit 31: Data Table on Component – Market share 2022-2027 (%)6.2 Comparison by Component Exhibit 32: Chart on Comparison by ComponentExhibit 33: Data Table on Comparison by Component6.3 Solutions – Market size and forecast 2022-2027Exhibit 34: Chart on Solutions – Market size and forecast 2022-2027 ($ million)Exhibit 35: Data Table on Solutions – Market size and forecast 2022-2027 ($ million)Exhibit 36: Chart on Solutions – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Solutions – Year-over-year growth 2022-2027 (%)6.4 Service – Market size and forecast 2022-2027Exhibit 38: Chart on Service – Market size and forecast 2022-2027 ($ million)Exhibit 39: Data Table on Service – Market size and forecast 2022-2027 ($ million)Exhibit 40: Chart on Service – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on Service – Year-over-year growth 2022-2027 (%)6.5 Market opportunity by Component Exhibit 42: Market opportunity by Component ($ million)Exhibit 43: Data Table on Market opportunity by Component ($ million)
7 Market Segmentation by Deployment
7.1 Market segments Exhibit 44: Chart on Deployment – Market share 2022-2027 (%)Exhibit 45: Data Table on Deployment – Market share 2022-2027 (%)7.2 Comparison by Deployment Exhibit 46: Chart on Comparison by DeploymentExhibit 47: Data Table on Comparison by Deployment7.3 On-premise – Market size and forecast 2022-2027Exhibit 48: Chart on On-premise – Market size and forecast 2022-2027 ($ million)Exhibit 49: Data Table on On-premise – Market size and forecast 2022-2027 ($ million)Exhibit 50: Chart on On-premise – Year-over-year growth 2022-2027 (%)Exhibit 51: Data Table on On-premise – Year-over-year growth 2022-2027 (%)7.4 Cloud – Market size and forecast 2022-2027Exhibit 52: Chart on Cloud – Market size and forecast 2022-2027 ($ million)Exhibit 53: Data Table on Cloud – Market size and forecast 2022-2027 ($ million)Exhibit 54: Chart on Cloud – Year-over-year growth 2022-2027 (%)Exhibit 55: Data Table on Cloud – Year-over-year growth 2022-2027 (%)7.5 Market opportunity by Deployment Exhibit 56: Market opportunity by Deployment ($ million)Exhibit 57: Data Table on Market opportunity by Deployment ($ million)
8 Customer Landscape
8.1 Customer landscape overview Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation Exhibit 59: Chart on Market share by geography 2022-2027 (%)Exhibit 60: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 61: Chart on Geographic comparisonExhibit 62: Data Table on Geographic comparison9.3 North America – Market size and forecast 2022-2027Exhibit 63: Chart on North America – Market size and forecast 2022-2027 ($ million)Exhibit 64: Data Table on North America – Market size and forecast 2022-2027 ($ million)Exhibit 65: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 66: Data Table on North America – Year-over-year growth 2022-2027 (%)9.4 Europe – Market size and forecast 2022-2027Exhibit 67: Chart on Europe – Market size and forecast 2022-2027 ($ million)Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 ($ million)Exhibit 69: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 70: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.5 APAC – Market size and forecast 2022-2027Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.6 South America – Market size and forecast 2022-2027Exhibit 75: Chart on South America – Market size and forecast 2022-2027 ($ million)Exhibit 76: Data Table on South America – Market size and forecast 2022-2027 ($ million)Exhibit 77: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 78: Data Table on South America – Year-over-year growth 2022-2027 (%)9.7 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027Exhibit 83: Chart on US – Market size and forecast 2022-2027 ($ million)Exhibit 84: Data Table on US – Market size and forecast 2022-2027 ($ million)Exhibit 85: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 86: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 China – Market size and forecast 2022-2027Exhibit 87: Chart on China – Market size and forecast 2022-2027 ($ million)Exhibit 88: Data Table on China – Market size and forecast 2022-2027 ($ million)Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)9.10 UK – Market size and forecast 2022-2027Exhibit 91: Chart on UK – Market size and forecast 2022-2027 ($ million)Exhibit 92: Data Table on UK – Market size and forecast 2022-2027 ($ million)Exhibit 93: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 94: Data Table on UK – Year-over-year growth 2022-2027 (%)9.11 Canada – Market size and forecast 2022-2027Exhibit 95: Chart on Canada – Market size and forecast 2022-2027 ($ million)Exhibit 96: Data Table on Canada – Market size and forecast 2022-2027 ($ million)Exhibit 97: Chart on Canada – Year-over-year growth 2022-2027 (%)Exhibit 98: Data Table on Canada – Year-over-year growth 2022-2027 (%)9.12 Germany – Market size and forecast 2022-2027Exhibit 99: Chart on Germany – Market size and forecast 2022-2027 ($ million)Exhibit 100: Data Table on Germany – Market size and forecast 2022-2027 ($ million)Exhibit 101: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 102: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 103: Market opportunity by geography ($ million)Exhibit 104: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
10.1 Market drivers 10.2 Market challenges 10.3 Impact of drivers and challenges Exhibit 105: Impact of drivers and challenges in 2022 and 202710.4 Market trends
11 Vendor Landscape
11.1 Overview 11.2 Vendor landscape Exhibit 106: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruption Exhibit 107: Overview on factors of disruption11.4 Industry risks Exhibit 108: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered Exhibit 109: Vendors covered12.2 Market positioning of vendors Exhibit 110: Matrix on vendor position and classification12.3 Augury Inc. Exhibit 111: Augury Inc. – OverviewExhibit 112: Augury Inc. – Product / ServiceExhibit 113: Augury Inc. – Key offerings12.4 C3.ai Inc. Exhibit 114: C3.ai Inc. – OverviewExhibit 115: C3.ai Inc. – Business segmentsExhibit 116: C3.ai Inc. – Key offeringsExhibit 117: C3.ai Inc. – Segment focus12.5 Dell Technologies Inc. Exhibit 118: Dell Technologies Inc. – OverviewExhibit 119: Dell Technologies Inc. – Business segmentsExhibit 120: Dell Technologies Inc. – Key offeringsExhibit 121: Dell Technologies Inc. – Segment focus12.6 Fortive Corp. Exhibit 122: Fortive Corp. – OverviewExhibit 123: Fortive Corp. – Business segmentsExhibit 124: Fortive Corp. – Key newsExhibit 125: Fortive Corp. – Key offeringsExhibit 126: Fortive Corp. – Segment focus12.7 General Electric Co. Exhibit 127: General Electric Co. – OverviewExhibit 128: General Electric Co. – Business segmentsExhibit 129: General Electric Co. – Key newsExhibit 130: General Electric Co. – Key offeringsExhibit 131: General Electric Co. – Segment focus12.8 Hitachi Ltd. Exhibit 132: Hitachi Ltd. – OverviewExhibit 133: Hitachi Ltd. – Business segmentsExhibit 134: Hitachi Ltd. – Key newsExhibit 135: Hitachi Ltd. – Key offeringsExhibit 136: Hitachi Ltd. – Segment focus12.9 Honeywell International Inc. Exhibit 137: Honeywell International Inc. – OverviewExhibit 138: Honeywell International Inc. – Business segmentsExhibit 139: Honeywell International Inc. – Key newsExhibit 140: Honeywell International Inc. – Key offeringsExhibit 141: Honeywell International Inc. – Segment focus12.10 International Business Machines Corp.Exhibit 142: International Business Machines Corp. – OverviewExhibit 143: International Business Machines Corp. – Business segmentsExhibit 144: International Business Machines Corp. – Key newsExhibit 145: International Business Machines Corp. – Key offeringsExhibit 146: International Business Machines Corp. – Segment focus12.11 PTC Inc. Exhibit 147: PTC Inc. – OverviewExhibit 148: PTC Inc. – Business segmentsExhibit 149: PTC Inc. – Key offeringsExhibit 150: PTC Inc. – Segment focus12.12 RapidMiner Inc. Exhibit 151: RapidMiner Inc. – OverviewExhibit 152: RapidMiner Inc. – Product / ServiceExhibit 153: RapidMiner Inc. – Key offerings12.13 Robert Bosch GmbH Exhibit 154: Robert Bosch GmbH – OverviewExhibit 155: Robert Bosch GmbH – Business segmentsExhibit 156: Robert Bosch GmbH – Key newsExhibit 157: Robert Bosch GmbH – Key offeringsExhibit 158: Robert Bosch GmbH – Segment focus12.14 Rockwell Automation Inc. Exhibit 159: Rockwell Automation Inc. – OverviewExhibit 160: Rockwell Automation Inc. – Business segmentsExhibit 161: Rockwell Automation Inc. – Key newsExhibit 162: Rockwell Automation Inc. – Key offeringsExhibit 163: Rockwell Automation Inc. – Segment focus12.15 SAP SE Exhibit 164: SAP SE – OverviewExhibit 165: SAP SE – Business segmentsExhibit 166: SAP SE – Key newsExhibit 167: SAP SE – Key offeringsExhibit 168: SAP SE – Segment focus12.16 SAS Institute Inc. Exhibit 169: SAS Institute Inc. – OverviewExhibit 170: SAS Institute Inc. – Product / ServiceExhibit 171: SAS Institute Inc. – Key newsExhibit 172: SAS Institute Inc. – Key offerings12.17 Schneider Electric SE Exhibit 173: Schneider Electric SE – OverviewExhibit 174: Schneider Electric SE – Business segmentsExhibit 175: Schneider Electric SE – Key newsExhibit 176: Schneider Electric SE – Key offeringsExhibit 177: Schneider Electric SE – Segment focus
13 Appendix
13.1 Scope of the report 13.2 Inclusions and exclusions checklistExhibit 178: Inclusions checklistExhibit 179: Exclusions checklist13.3 Currency conversion rates for US$ Exhibit 180: Currency conversion rates for US$13.4 Research methodology Exhibit 181: Research methodologyExhibit 182: Validation techniques employed for market sizingExhibit 183: Information sources13.5 List of abbreviations Exhibit 184: List of abbreviations
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