Predictive Maintenance Market Scope
Predictive maintenance, a technique to predict the future equipment failure of a machine component. To prevent the occurrence of the component failure by performing maintenance. Thus, equipment downtime is minimized and the component lifetime is maximized. Ideally, predictive maintenance allows the maintenance frequency to be as low as possible to prevent unplanned reactive maintenance, without incurring costs associated with doing too much preventive maintenance.
According to AMA, the Global Predictive Maintenance market is expected to see growth rate of 23.09% Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Predictive Maintenance market throughout the predicted period.
IBM (United States), SAP SE (Germany), Software AG (Germany), General Electric (United States), Robert Bosch (Germany), PTC Inc. (United States), Rockwell Automation (United States), PTC (United States), SAS Institute (United States), T-Systems (Germany) and Warwick Analytics (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Honeywell (United States), Dell (United States), RapidMiner (United States), Hitachi, Ltd. (Japan) and SKF (Sweden).
Segmentation Overview
The study have segmented the market of Global Predictive Maintenance market , by Application (Aerospace and Defense, Energy and utilities, Government, Healthcare, Manufacturing, Transportation and logistics and Others) and Region with country level break-up.
On the basis of geography, the market of Predictive Maintenance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Rapid Deployment of Big Data and IoT Technology
Market Growth Drivers:
Reduction in Operation & Maintenance Costs and Asset Downtime, Increasing Demand for Transforming Maintenance and Helps in Decision-Making and Increasing Operational Efficiency
Challenges:
Predictive Maintenance May Not Be Considered as an Integral Part of the Overall Maintenance Process and Adequate and Structured Data Collection
Restraints:
Lack of Proper Training in Developing Countries and Lack of Trust in Predictive Maintenance Technologies
Opportunities:
Increasing Demand for Real-Time Streaming Analytics and Surging Demand From Small and Medium Enterprises in both Developed and Developing Economies
Key Target Audience
Predictive Maintenance Vendors, System Integrator, Consulting Firms, Resellers and Distributors, Technology Partners and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.