About Predictive Maintenance (PdM)
The solution Predictive maintenance is a technique that utilizes information examination instruments and frameworks to distinguish abnormalities in activity and potential deformities in equipment and processes so it can fix them before they bring about failure. IT utilizes authentic and ongoing information from different pieces of the cycle to foresee issues before they occur. There are three primary regions of affiliation that factor into prescient upkeep. These apparatuses catch data utilizing prescient support sensors, business frameworks (like EAM programming and ERP programming), and modern controls, at that point sort out it and use it to distinguish any territories that need consideration. a few instances of utilizing prescient upkeep and prescient support sensors incorporate vibration investigation, oil examination, warm imaging, and gear perception. The acknowledgment of cloud-based prescient support goals is relied upon to grow, for the most part, attributable to their advantages, for example, simple upkeep of created information, cost-adequacy, versatility, and powerful administration thus the demand for the Predictive Maintenance (PdM) in the market is booming
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Predictive Maintenance (PdM) market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB Limited (Switzerland), Siemens AG (Germany), SparkCognition (United States), GE (United States), C3 IoT (United States), IBM (United States), Microsoft (United States), Micro Focus (United Kingdom), SAP (Germany), Hitachi (Japan), PTC (United States), HPE (United States) and AWS (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Seebo (Israel), RapidMiner (United States), Splunk (United States) and Altair (United States).
Segmentation Overview
AMA Research has segmented the market of Global Predictive Maintenance (PdM) market by , Application (Manufacturing, Energy & Utilities, Healthcare, Automotive, Aerospace and Defense, Transportation and Others) and Region.
On the basis of geography, the market of Predictive Maintenance (PdM) 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).
If we see Market by , the sub-segment i.e. will boost the Predictive Maintenance (PdM) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Emerging demand for cloud-based Predictive Maintenance (PdM)
Market Growth Drivers:
Growing the use of emerging technologies to gain valuable insights and The RIse in the need to reduce maintenance cost and downtime
Challenges:
Concern over data security and privacy issues
Restraints:
Lack of skilled professionals
Opportunities:
Real-time condition monitoring to assist in taking prompt actions and Growing the need for remote monitoring and management of assets and business processes owing to the outburst of the COVID 19 is booming the demand for predictive Maintenance
In June 2023, Accenture acquired Nextira, an AWS Premier Partner to deliver cloud-native innovation, predictive analytics and immersive experience. Nextira solution will help to increase Accenture Cloud First’s engineering capabilities and allow their clients to take advantage of cloud capabilities and tools.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Predictive Maintenance (PdM) provider, Government Regulatory and Research Organizations and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.