Predictive Maintenance Market Outlook from 2024 to 2034
Integrating artificial intelligence and machine learning is taking the global predictive maintenance market to a new level. The market is slated to grow considerably, recording a CAGR of 10.9% from 2024 to 2034.
The market indicates a valuation of US$ 80,200.0 million by 2034. The market is further set to reach US$ 10,510.0 million in 2024. Demand for predictive maintenance recorded a y-o-y growth of 6.9% in 2023.
Attributes
Key Insights
Base Value (2023)
US$ 9,606.03 million
Global Predictive Maintenance Market Size (2024E)
US$ 10,510.0 million
Predictive Maintenance Market Value (2034F)
US$ 80,200.0 million
Value-based CAGR (2024 to 2034)
10.9%
Compared to traditional market intelligence solutions, companies are evaluating IoT data with amazing precision, accuracy, and speed because of the use of AI and ML technologies.
Predictive maintenance provides ways to minimize the time and costs associated with repairs and maintenance while lowering unscheduled downtime of production-critical equipment. Furthermore, maintenance systems ensure that assets are constantly available and in optimal operating condition.
Increasing use of predictive maintenance in mammography, X-ray, and tomography to improve operational efficiency and decision-making skills are further set to fuel the market.
The market is propelled by increasing use in several sectors, including manufacturing, aerospace, energy, defense, and transportation. The market is also projected to grow due to increasing demand for real-time streaming analytics for data processing and analysis.
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Factors Propelling Demand
Optimizing maintenance activities by regularly monitoring equipment health and addressing minor issues is fueling demand for predictive maintenance. Growing adoption of technologies such as IoT, cloud computing, artificial intelligence, and machine learning would further increase demand and operational efficiency of predictive maintenance.
Rising demand for maintenance solutions to reduce cost & downtime and the need for real-time data analytics to process and analyze data across various industries are propelling demand.
Challenges for Companies/Manufacturers in the Market
Inadequate availability of skilled workforce with knowledge about predictive maintenance solutions is set to hinder the market. High initial costs of establishing and implementing the program, including equipment and employee training, are projected to impede the market.
Several companies face difficulty managing and analyzing the massive amounts of data required for predictive maintenance, including data collection, storage, and analysis.
Large-scale data collection, transmission, and storage inevitably raise concerns regarding security & privacy. The initiation of modern maintenance requires high capital expenditure which is set to act as a limiting factor for companies to invest in new systems.
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Opportunities in the Industry
Rising demand for efficient IT infrastructure creates opportunities for predictive maintenance solutions. Expansion of predictive maintenance solutions to healthcare devices and navigation systems for improved reliability is set to create opportunities for manufacturers.
Latest Trends in the Predictive Maintenance Market
Integrating digital twins and augmented reality (AR) are emerging technologies that enhance the visualization and simulation of maintenance scenarios. Edge computing and blockchain implementation are being increasingly used in predictive maintenance to enhance trust, transparency, and efficiency of maintenance transactions.
Implementing inspection technologies, such as infrared thermography, ultrasonic analysis, vibration monitoring, and robotic inspection to prevent equipment failures, are fueling market growth.
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2019 to 2023 Predictive Maintenance Market Growth Outlook Vs. 2024 to 2034
From 2019 to 2023, the market experienced a CAGR of 7.6%, reaching a size of US$ 9,606.03 million in 2023. Demand for predictive maintenance solutions grew significantly from 2019 to 2023, propelled by adoption in the construction, transportation, energy, and healthcare industries.
Innovations in IoT sensors, AI algorithms, and cloud computing further enhanced the capabilities and accessibility of maintenance solutions. Several companies are using predictive analytics to shift from reactive scheduled maintenance to proactive, predictive strategies, improving operational efficiency and equipment reliability.
The market grew significantly from 2019 to 2023 as more organizations realized the benefits of predictive insights, preventing costly failures and providing the optimal asset lifecycle.
The market is set to rise at a CAGR of 10.9% from 2024 to 2034. The market size is projected to reach US$ 80,200.0 million during the forecast period. The forecast for 2024 to 2034 shows accelerated growth caused by innovations in AI, IoT, and data analytics technologies.
Semi-annual Market Update
The table presents the projected CAGR for the market over several semi-annual periods from 2023 to 2034. In the first half (H1) of the decade from 2023 to 2033, the market is set to surge at a CAGR of 8.2%, followed by a slightly higher growth rate of 8.4% in the second half (H2) of the same decade.
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase to 9.6% in the first half and remain steady at 9.8% in the second half. These values offer insights into the anticipated growth trends for the market, aiding stakeholders and investors in making informed decisions regarding investments & strategies.
Particular
Value CAGR
H1
8.2% (2023 to 2033)
H2
8.4% (2023 to 2033)
H1
9.6% (2024 to 2034)
H2
9.8% (2024 to 2034)
Comparative View of Adjacent Markets
Apart from the predictive maintenance market, an in-depth analysis has been done on two other related markets. These markets are the predictive touch market and optical character recognition market. The table below analyzes these adjacent markets based on CAGRs from 2024 to 2034.
Predictive Maintenance Industry Analysis:
Attributes
Predictive Maintenance Industry Analysis
CAGR (2024 to 2034)
10.9%
Opportunity
Rising demand for efficient IT infrastructure surges opportunities for predictive maintenance solutions.
Trends in the Predictive Maintenance Market
Use of artificial intelligence (AI)-oriented analysis for the optimization of assets would result in reduced maintenance costs.
Predictive Touch Market:
Attributes
Predictive Touch Market
CAGR (2024 to 2034)
27.5%
Opportunity
The nature of a machine to think and work similarly to that of humans provides novel opportunities to manufacturers for developing effective predictive systems.
Key Trends
Increasing use of IoT and AI technologies in industrial and residential applications is a key trend in the market.
Optical Character Recognition Market:
Attributes
Optical Character Recognition Market
CAGR (2024 to 2034)
14.8%
Opportunity
Increasing use of smartphones and tablets has led to a surging demand for mobile OCR applications, which enable text extraction from images.
Key Trends
AI and machine learning are enhancing OCR systems' accuracy and efficiency by recognizing diverse fonts, languages, and handwriting styles, making them more versatile and adaptable to various document types.
Country-wise Insights
The section below showcases the CAGRs and values of the significant countries present in predictive maintenance market. By scrutinizing themes from qualitative data of the market, the United States emerged as the leading country.
Countries
Value CAGR (2024 to 2034)
United States
8.6%
Germany
6.1%
United Kingdom
4.3%
Rising Investments in Innovative Technologies Propel the United States
The United States is projected to hold a market share of 79.2% by 2024. The country is set to surge at a CAGR of 8.6% through 2034.
Increasing investments in developing technologies such as IoT, artificial intelligence, and machine learning for process manufacturing industries are set to create ample opportunities for manufacturers in the United States. Growing presence of maintenance manufacturers in the United States is also projected to fuel the market.
Booming Manufacturing Sector in Germany Contributing to Market Development
Germany is estimated to rise at a CAGR of 6.1% during the forecast period. Germany’s manufacturing sector is highly developed and technology-oriented, with a strong emphasis on manufacturing precision and control.
This makes predictive maintenance a key factor in optimizing production and reducing time implemented on the project. Improved configuration facilitates the integration of IoT sensors, data analytics systems, and AI-powered predictive protection solutions into industrial operations.
Germany is actively promoting innovation, research, and development by utilizing the latest technologies in predictive safety training. Hence, rising demand for maintenance technologies is creating a massive opportunity for various players in Germany.
Increasing Institutional Investments in the United Kingdom to Surge Sales
The United Kingdom is set to contribute a CAGR of 4.3% to the global market by 2034. Increasing awareness of the importance of customized maintenance technologies and surging institutional investments are fueling demand for maintenance services in the United Kingdom. The country, which contributes significantly to global revenue, is experiencing new opportunities due to rising industrial automation.
Category-wise Insights
The section below showcases the top segments in the market, including industry, enterprise size, and components. The manufacturing segment in terms of industry is set to rise at 7.3% CAGR through 2034. Based on enterprise size, the medium-sized enterprise segment is projected to witness a CAGR of 7.1% through 2034.
Segment
Value CAGR (2024 to 2034)
Manufacturing (Industry)
7.3%
Medium-sized Enterprise (Enterprise Size)
7.1%
Software (Component)
8.5%
Software Segment is Gaining Popularity in the Market by Component
Predictive maintenance software combines powerful monitoring tools with data analytics to analyze asset performance and predict potential equipment failures. Key companies use this information to develop proactive maintenance strategies to minimize unplanned downtime.
Instead of waiting until a piece of equipment breaks down to get repaired, maintenance software automates the entire process by scheduling maintenance at the first sign of a potential mechanical problem.
This software provides data management, integration, visualization, and reporting services, enabling organizations to optimize maintenance systems, improve asset reliability, and make more data-focused decisions.
Medium-sized Enterprise Remains Popular Enterprise Size
Medium-sized enterprises are using maintenance solutions for improved asset performance, reduced uptime, and lower maintenance costs. Affordable IoT sensors and cloud-based predictive analytics platforms have made these solutions more flexible and cost-effective for medium-sized enterprises than traditional maintenance methods.
Medium-sized enterprises' scalability and flexibility in maintenance solutions align with their dynamic needs and resource constraints, contributing to significant growth in the evolving landscape.
Manufacturing Segment to Dominate the Market by Industry
The rising need for maintenance of manufacturing equipment, such as machinery, elevators, pumps, and industrial robots for reducing downtime is surging demand for predictive maintenance.
With the advent of Industry 4.0 for manufacturing, companies are using technologies to monitor and gain deeper insight into their operations in real-time to increase production efficiency and reduce costs.
With predictive maintenance, manufacturers have real-time visibility into the current state of production equipment and receive automated alerts when machines are ready for service or aren’t functioning properly.
Using data gathered from machine-mounted sensors, AI and machine learning algorithms prescribe customized maintenance schedules based on how production equipment is used.
Competitive Landscape
Leading companies are investing in research and development to enhance their product range, which is set to fuel the market. Key companies are also developing strategies to increase their global footprint, including new product launches, mergers, and acquisitions.
Leading companies invest in research and development to create sophisticated maintenance solutions that deliver improved performance, security, and scalability. They also invest in quality data management and integration capabilities to ensure accurate and reliable data collection and analysis, as high-quality data is essential for effective future planning.
The market is growing rapidly as key companies often surge into emerging areas. This diversification allows them to tap into new customer bases and support start-ups in emerging economies with their maintenance solutions.
Key Developments
In November 2022, Advantech, a Europe-based company, and Actility launched a new integrated AI-based solution, supporting the machine operation team in realizing machine prognostics and health management.
In August 2023, Honeywell, a United States-based company, introduced its Versatilis transmitters solution for condition-based monitoring of rotating equipment in various industries.
In 2022, Siemens, a United Kingdom-based company, acquired Senseye to broaden its portfolio in innovative predictive maintenance and asset intelligence.
In 2022, Microsoft, a company based in the United States, partnered with Schneider Electric, a France-based company, to offer new maintenance solutions that enhance energy management, asset performance, and operational efficiency.
Key Players Profiled
IBM Corporation
SAP
Siemens
Microsoft
GE
Robert Bosch
ABB
Schneider Electric
Honeywell
Rockwell Automation
Emerson
PTC
Hitachi
eMaint by Fluke Corporation
SKF
Key Coverage in the Market Report
Maintenance Prediction Software Market Trends, Forecast, and Analysis
Machine Health Management Market and Prognostic Maintenance Market Share
Predictive Analytics in Maintenance Market Growth Outlook
Maintenance Solution Market Analysis
Market Dynamics of Condition-based Maintenance Industry
Emerging Trends in Software-based Predictive Maintenance
Adoption of Maintenance Systems
Analysis of Condition-based Maintenance Industry
Market Dynamics of Predictive Analytics in Maintenance
Emerging Trends in Machine Health Management
Impact of predictive Maintenance Solutions on Asset Performance
Equipment Health Monitoring Market Growth Outlook in the United States
Predictive Maintenance Market Segmentation by Category
By Component:
Hardware
IoT Sensors
Temperature Sensors
Vibration Sensors
Position Sensors
Others
IoT Gateway
Others
Software
Predictive Maintenance Software
IoT Platforms (Cloud-based)
AI-based CMMS Software
Others
Services
Professional Services
Condition Monitoring Services
Integration & Implementation Services
Consulting & Advisory Services
Support & Maintenance
Managed Services
By Enterprise Size:
Small Offices (1 to 9 employees)
Small Enterprises (10 to 99 employees)
Medium-sized Enterprise (100 to 499 employees)
Large Enterprises (500 to 999 employees)
Very Large Enterprises (1,000+ employees)
By Industry:
Automotive & Transportation
Engine Health Monitoring
Brake System Monitoring
Battery Health Management
Tire Health Monitoring
Aerospace & Defense
Aircraft Engine Health Monitoring
Avionics System Monitoring
Weapons System Monitoring
Structural Health Monitoring
Manufacturing
Machine Health Monitoring
Motor Health Monitoring
Supply Chain Optimization
Predictive Quality Control
Healthcare
Medical Imaging Equipment
Life Support and Monitoring Devices
Drug Delivery Systems
Laboratory Equipment
Telecommunications
Network Equipment Health Monitoring
Fiber Optic Cable Monitoring
Antenna Health Monitoring
Power System Monitoring
Others
By Region:
North America
Latin America
South Asia & Pacific
East Asia
Western Europe
Eastern Europe
Middle East and Africa
Frequently Asked Questions
How big is the predictive maintenance market?
The market is set to reach US$ 10,510.0 million in 2024.
What is the forecast for the market?
Demand for predictive maintenance is slated to rise at a 10.9% CAGR by 2034.
What is the outlook for the global market?
The market is set to reach US$ 80,200.0 million in 2034.
Who are the key players in the market?
Microsoft Azure, IBM Cloud, Siemens, Hitachi, Ltd, and General Electric (GE) are the key players.
Which component would lead the market?
Software segment is estimated to hold a significant market share in 2024.
Which enterprise size is estimated to show the most promising growth by 2034?
Medium-sized enterprise segment is estimated to surge at a CAGR of 7.1%.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Pricing Analysis
3.1. Weighted Average Pricing Analysis, By Hardware/Device Type
3.2. Software Pricing Models
3.2.1. Subscription-based
3.2.2. Perpetual Licenses
3.3. Regional Pricing Analysis Benchmark
4. VC Funding Outlook
4.1. Key & Noticeable Startups in Predictive Maintenance
4.2. Growth in VC Funding 2021 vs 2022 vs 2023
4.3. Latest Funding Received, by Startups
4.4. Major Investors
5. Market Background
5.1. Macro-Economic Factors
5.2. Forecast Factors - Relevance & Impact
5.3. Value Chain
5.4. COVID-19 Crisis - Impact Assessment
5.4.1. Current Statistics
5.4.2. Short-Mid-Long Term Outlook
5.4.3. Likely Rebound
5.5. Market Dynamics
5.5.1. Drivers
5.5.2. Restraints
5.5.3. Opportunity Analysis
6. Global Market Demand (in Value in US$ million) Analysis 2019 to 2023 and Forecast, 2024 to 2034
6.1. Historical Market Size (US$ million) Analysis, 2019 to 2023
6.2. Current and Future Market Size (US$ million) Projections, 2024 to 2034
6.2.1. Y-o-Y Growth Trend Analysis
6.2.2. Absolute $ Opportunity Analysis
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Component
7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ million) Analysis By Component, 2019 to 2023
7.3. Current and Future Market Size (US$ million) Analysis and Forecast By Component, 2024 to 2034
7.3.1. Hardware
7.3.1.1. IoT Sensors
7.3.1.1.1. Temperature Sensors
7.3.1.1.2. Vibration Sensors
7.3.1.1.3. Position Sensors
7.3.1.1.4. Others
7.3.1.2. IoT Gateways
7.3.1.3. Other Devices
7.3.2. Software
7.3.2.1. Software
7.3.2.2. IoT Platforms (Cloud-based)
7.3.2.3. AI-based CMMS Software
7.3.2.4. Other Software
7.3.3. Services
7.3.3.1. Professional Services
7.3.3.1.1. Condition Monitoring Services
7.3.3.1.2. Integration & Implementation Services
7.3.3.1.3. Consulting & Advisory Services
7.3.3.1.4. Support & Maintenance
7.3.3.2. Managed Services
7.4. Market Attractiveness Analysis By Component
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Enterprise Size
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ million) Analysis By Enterprise Size, 2019 to 2023
8.3. Current and Future Market Size (US$ million) Analysis and Forecast By Enterprise Size, 2024 to 2034
8.3.1. Small Offices (1 to 9 employees)
8.3.2. Small Enterprises (10 to 99 employees)
8.3.3. Medium-sized Enterprise (100 to 499 employees)
8.3.4. Large Enterprises (500 to 999 employees)
8.3.5. Very Large Enterprises (1,000+ employees)
8.4. Market Attractiveness Analysis By Enterprise Size
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Industry
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ million) Analysis By Industry, 2019 to 2023
9.3. Current and Future Market Size (US$ million) Analysis and Forecast By Industry, 2024 to 2034
9.3.1. Automotive & Transportation
9.3.1.1. Engine Health Monitoring
9.3.1.2. Brake System Monitoring
9.3.1.3. Battery Health Management
9.3.1.4. Tire Health Monitoring
9.3.2. Aerospace & Defense
9.3.2.1. Aircraft Engine Health Monitoring
9.3.2.2. Avionics System Monitoring
9.3.2.3. Weapons System Monitoring
9.3.2.4. Structural Health Monitoring
9.3.3. Manufacturing
9.3.3.1. Machine Health Monitoring
9.3.3.2. Motor Health Monitoring
9.3.3.3. Supply Chain Optimization
9.3.3.4. Predictive Quality Control
9.3.4. Healthcare
9.3.4.1. Medical Imaging Equipment
9.3.4.2. Life Support and Monitoring Devices
9.3.4.3. Drug Delivery Systems
9.3.4.4. Laboratory Equipment
9.3.5. Telecommunications
9.3.5.1. Network Equipment Health Monitoring
9.3.5.2. Fiber Optic Cable Monitoring
9.3.5.3. Antenna Health Monitoring
9.3.5.4. Power System Monitoring
9.3.6. Others
9.4. Market Attractiveness Analysis By Industry
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
10.1. Introduction
10.2. Historical Market Size (US$ million) Analysis By Region, 2019 to 2023
10.3. Current and Future Market Size (US$ million) Analysis and Forecast By Region, 2024 to 2034
10.3.1. North America
10.3.2. Latin America
10.3.3. East Asia
10.3.4. South Asia and Pacific
10.3.5. Western Europe
10.3.6. Eastern Europe
10.3.7. Middle East and Africa
10.4. Market Attractiveness Analysis By Region
11. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
11.1. Introduction
11.2. Historical Market Size (US$ million) Analysis By Market Taxonomy, 2019 to 2023
11.3. Current and Future Market Size (US$ million) Forecast By Market Taxonomy, 2024 to 2034
11.3.1. By Country
11.3.1.1. United States
11.3.1.2. Canada
11.3.1.3. Mexico
11.3.2. By Component
11.3.3. By Enterprise Size
11.3.4. By Industry
11.4. Market Attractiveness Analysis
11.4.1. By Country
11.4.2. By Component
11.4.3. By Enterprise Size
11.4.4. By Industry
11.5. Market Trends
11.6. Key Market Participants - Intensity Mapping
12. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
12.1. Introduction
12.2. Historical Market Size (US$ million) Analysis By Market Taxonomy, 2019 to 2023
12.3. Current and Future Market Size (US$ million) Forecast By Market Taxonomy, 2024 to 2034
12.3.1. By Country
12.3.1.1. Brazil
12.3.1.2. Chile
12.3.1.3. Latin America
12.3.2. By Component
12.3.3. By Enterprise Size
12.3.4. By Industry
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Component
12.4.3. By Enterprise Size
12.4.4. By Industry
12.5. Market Trends
12.6. Key Market Participants - Intensity Mapping
13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034
13.1. Introduction
13.2. Historical Market Size (US$ million) Analysis By Market Taxonomy, 2019 to 2023
13.3. Current and Future Market Size (US$ million) Forecast By Market Taxonomy, 2024 to 2034
13.3.1. By Country
13.3.1.1. India
13.3.1.2. ASEAN
13.3.1.3. Australia & New Zealand
13.3.1.4. South Asia & Pacific
13.3.2. By Component
13.3.3. By Enterprise Size
13.3.4. By Industry
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Component
13.4.3. By Enterprise Size
13.4.4. By Industry
13.5. Market Trends
13.6. Key Market Participants - Intensity Mapping
14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034
14.1. Introduction
14.2. Historical Market Size (US$ million) Analysis By Market Taxonomy, 2019 to 2023
14.3. Current and Future Market Size (US$ million) Forecast By Market Taxonomy, 2024 to 2034
14.3.1. By Country
14.3.1.1. China
14.3.1.2. Japan
14.3.1.3. South Korea
14.3.2. By Component
14.3.3. By Enterprise Size
14.3.4. By Industry
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Component
14.4.3. By Enterprise Size
14.4.4. By Industry
14.5. Market Trends
14.6. Key Market Participants - Intensity Mapping
15. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034
15.1. Introduction
15.2. Historical Market Size (US$ million) Analysis By Market Taxonomy, 2019 to 2023
15.3. Current and Future Market Size (US$ million) Forecast By Market Taxonomy, 2024 to 2034
15.3.1. By Country
15.3.1.1. Germany
15.3.1.2. Italy
15.3.1.3. France
15.3.1.4. United Kingdom
15.3.1.5. Spain
15.3.1.6. BENELUX
15.3.1.7. Nordics
15.3.1.8. Western Europe
15.3.2. By Component
15.3.3. By Enterprise Size
15.3.4. By Industry
15.4. Market Attractiveness Analysis
15.4.1. By Component
15.4.2. By Enterprise Size
15.4.3. By Industry
15.4.4. By Country
15.5. Market Trends
15.6. Key Market Participants - Intensity Mapping
16. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034
16.1. Introduction
16.2. Historical Market Size (US$ million) Analysis By Market Taxonomy, 2019 to 2023
16.3. Current and Future Market Size (US$ million) Forecast By Market Taxonomy, 2024 to 2034
16.3.1. By Country
16.3.1.1. Russia
16.3.1.2. Poland
16.3.1.3. Balkan and Baltics
16.3.1.4. Eastern Europe
16.3.2. By Component
16.3.3. By Enterprise Size
16.3.4. By Industry
16.4. Market Attractiveness Analysis
16.4.1. By Component
16.4.2. By Enterprise Size
16.4.3. By Industry
16.4.4. By Country
16.5. Market Trends
16.6. Key Market Participants - Intensity Mapping
17. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034
17.1. Introduction
17.2. Historical Market Size (US$ million) Analysis By Market Taxonomy, 2019 to 2023
17.3. Current and Future Market Size (US$ million) Forecast By Market Taxonomy, 2024 to 2034
17.3.1. By Country
17.3.1.1. KSA
17.3.1.2. Other GCC
17.3.1.3. Türkiye
17.3.1.4. South Africa
17.3.1.5. Middle East and Africa
17.3.2. By Component
17.3.3. By Enterprise Size
17.3.4. By Industry
17.4. Market Attractiveness Analysis
17.4.1. By Country
17.4.2. By Component
17.4.3. By Enterprise Size
17.4.4. By Industry
17.5. Market Trends
17.6. Key Market Participants - Intensity Mapping
18. Country-wise Market Analysis
18.1. United States Market Analysis
18.1.1. By Component
18.1.2. By Enterprise Size
18.1.3. By Industry
18.2. Canada Market Analysis
18.2.1. By Component
18.2.2. By Enterprise Size
18.2.3. By Industry
18.3. Mexico Market Analysis
18.3.1. By Component
18.3.2. By Enterprise Size
18.3.3. By Industry
18.4. Brazil Market Analysis
18.4.1. By Component
18.4.2. By Enterprise Size
18.4.3. By Industry
18.5. Chile Market Analysis
18.5.1. By Component
18.5.2. By Enterprise Size
18.5.3. By Industry
18.6. Germany Market Analysis
18.6.1. By Component
18.6.2. By Enterprise Size
18.6.3. By Industry
18.7. Italy Market Analysis
18.7.1. By Component
18.7.2. By Enterprise Size
18.7.3. By Industry
18.8. France Market Analysis
18.8.1. By Component
18.8.2. By Enterprise Size
18.8.3. By Industry
18.9. United Kingdom Market Analysis
18.9.1. By Component
18.9.2. By Enterprise Size
18.9.3. By Industry
18.10. Spain Market Analysis
18.10.1. By Component
18.10.2. By Enterprise Size
18.10.3. By Industry
18.11. Russia Market Analysis
18.11.1. By Component
18.11.2. By Enterprise Size
18.11.3. By Industry
18.12. China Market Analysis
18.12.1. By Component
18.12.2. By Enterprise Size
18.12.3. By Industry
18.13. Japan Market Analysis
18.13.1. By Component
18.13.2. By Enterprise Size
18.13.3. By Industry
18.14. South Korea Market Analysis
18.14.1. By Component
18.14.2. By Enterprise Size
18.14.3. By Industry
18.15. India Market Analysis
18.15.1. By Component
18.15.2. By Enterprise Size
18.15.3. By Industry
18.16. ASEAN Market Analysis
18.16.1. By Component
18.16.2. By Enterprise Size
18.16.3. By Industry
18.17. Australia & New Zealand Market Analysis
18.17.1. By Component
18.17.2. By Enterprise Size
18.17.3. By Industry
18.18. Other GCC Market Analysis
18.18.1. By Component
18.18.2. By Enterprise Size
18.18.3. By Industry
18.19. KSA Market Analysis
18.19.1. By Component
18.19.2. By Enterprise Size
18.19.3. By Industry
18.20. Türkiye Market Analysis
18.20.1. By Component
18.20.2. By Enterprise Size
18.20.3. By Industry
18.21. South Africa Market Analysis
18.21.1. By Component
18.21.2. By Enterprise Size
18.21.3. By Industry
19. Market Structure Analysis
19.1. Market Analysis by Tier of Companies
19.2. Market Share Analysis of Top Players
20. Competition Analysis
20.1. Competition Dashboard
20.1.1. Dashboard of Major Vendors
20.1.2. Dashboard of Key Startups
20.2. Ranking of Major Vendors, By Key Criteria
20.2.1. By Product Capabilities
20.2.2. By Business Expertise Outlook
20.3. Matrix for Industry Footprint/Coverage, By Vendors
20.4. Matrix for Region Footprint/Coverage, By Vendors
20.5. Competition Deep Dive (Established & Major Vendors)
20.5.1. IBM Corporation
20.5.1.1. Business Overview
20.5.1.2. Product Portfolio and Strengths
20.5.1.3. Key Clients Footprint
20.5.1.4. Industry Coverage
20.5.1.5. Go-to-Market Approach & Strategies
20.5.1.6. Recent Developments (Partnerships, Mergers etc.)
20.5.2. SAP
20.5.3. Siemens
20.5.4. Microsoft
20.5.5. GE
20.5.6. Robert Bosch
20.5.7. ABB
20.5.8. Schneider Electric
20.5.9. Honeywell
20.5.10. Rockwell Automation
20.5.11. Emerson
20.5.12. PTC
20.5.13. Hitachi
20.5.14. eMaint by Fluke Corporation
20.5.15. SKF
20.6. Key Startups in Predictive Maintenance
20.6.1. Stratio
20.6.1.1. Business Overview
20.6.1.2. Funding Rounds/Funding Raised
20.6.1.3. Major Investors
20.6.1.4. Solution Capabilities
20.6.1.5. Business Strategies
20.6.2. Digitread Connect
20.6.3. MachineMetrics
20.6.4. Gastops
20.6.5. Predictive-sigma
20.6.6. Semiotic Labs
20.6.7. Quadrical Ai
20.6.8. ai-omatic solutions GmbH
20.6.9. Predikto
20.6.10. UptimeAI
21. Assumptions and Acronyms Used22. Research Methodology
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List of Tables
Table 1: Global Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 2: Global Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 3: Global Market Value (US$ million) Analysis (2019 to 2023) By Industry
Table 4: Global Market Value (US$ million) Forecast (2024 to 2034) By Industry
Table 5: Global Market Value (US$ million) Analysis (2019 to 2023) By Enterprise Size
Table 6: Global Market Value (US$ million) Forecast (2024 to 2034) By Enterprise Size
Table 7: Global Market Value (US$ million) Analysis (2019 to 2023) By Region
Table 8: Global Market Value (US$ million) Forecast (2024 to 2034) By Region
Table 9: North America Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 10: North America Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 11: North America Market Value (US$ million) Analysis (2019 to 2023) By Industry
Table 12: North America Market Value (US$ million) Forecast (2024 to 2034) By Industry
Table 13: North America Market Value (US$ million) Analysis (2019 to 2023) By Enterprise Size
Table 14: North America Market Value (US$ million) Forecast (2024 to 2034) By Enterprise Size
Table 15: North America Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 16: North America Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 17: Latin America Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 18: Latin America Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 19: Latin America Market Value (US$ million) Analysis (2019 to 2023) By Industry
Table 20: Latin America Market Value (US$ million) Forecast (2024 to 2034) By Industry
Table 21: Latin America Market Value (US$ million) Analysis (2019 to 2023) By Enterprise Size
Table 22: Latin America Market Value (US$ million) Forecast (2024 to 2034) By Enterprise Size
Table 23: Latin America Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 24: Latin America Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 25: Western Europe Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 26: Western Europe Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 27: Western Europe Market Value (US$ million) Analysis (2019 to 2023) By Industry
Table 28: Western Europe Market Value (US$ million) Forecast (2024 to 2034) By Industry
Table 29: Western Europe Market Value (US$ million) Analysis (2019 to 2023) By Enterprise Size
Table 30: Western Europe Market Value (US$ million) Forecast (2024 to 2034) By Enterprise Size
Table 31: Western Europe Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 32: Western Europe Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 33: Eastern Europe Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 34: Eastern Europe Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 35: Eastern Europe Market Value (US$ million) Analysis (2019 to 2023) By Industry
Table 36: Eastern Europe Market Value (US$ million) Forecast (2024 to 2034) By Industry
Table 37: Eastern Europe Market Value (US$ million) Analysis (2019 to 2023) By Enterprise Size
Table 38: Eastern Europe Market Value (US$ million) Forecast (2024 to 2034) By Enterprise Size
Table 39: Eastern Europe Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 40: Eastern Europe Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 41: South Asia & Pacific Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 42: South Asia & Pacific Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 43: South Asia & Pacific Market Value (US$ million) Analysis (2019 to 2023) By Industry
Table 44: South Asia & Pacific Market Value (US$ million) Forecast (2024 to 2034) By Industry
Table 45: South Asia & Pacific Market Value (US$ million) Analysis (2019 to 2023) By Enterprise Size
Table 46: South Asia & Pacific Market Value (US$ million) Forecast (2024 to 2034) By Enterprise Size
Table 47: South Asia & Pacific Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 48: South Asia & Pacific Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 49: East Asia Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 50: East Asia Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 51: East Asia Market Value (US$ million) Analysis (2019 to 2023) By Industry
Table 52: East Asia Market Value (US$ million) Forecast (2024 to 2034) By Industry
Table 53: East Asia Market Value (US$ million) Analysis (2019 to 2023) By Enterprise Size
Table 54: East Asia Market Value (US$ million) Forecast (2024 to 2034) By Enterprise Size
Table 55: East Asia Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 56: East Asia Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 57: Middle East and Africa Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 58: Middle East and Africa Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 59: Middle East and Africa Market Value (US$ million) Analysis (2019 to 2023) By Industry
Table 60: Middle East and Africa Market Value (US$ million) Forecast (2024 to 2034) By Industry
Table 61: Middle East and Africa Market Value (US$ million) Analysis (2019 to 2023) By Enterprise Size
Table 62: Middle East and Africa Market Value (US$ million) Forecast (2024 to 2034) By Enterprise Size
Table 63: Middle East and Africa Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 64: Middle East and Africa Market Value (US$ million) Forecast (2024 to 2034) by Country
Find your sweet spots for generating winning opportunities in this market.
List of Charts
Figure 1: Global Market Value (US$ million), 2019 to 2023
Figure 2: Global Market Value (US$ million), 2024 to 2034
Figure 3: Global Market Size (US$ million) and Y-o-Y Growth Rate from 2024 to 2034
Figure 4: Global Market Size and Y-o-Y Growth Rate from 2024 to 2034
Figure 5: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 6: Global Market Value Share Analysis (2024 to 2034) by Component
Figure 7: Global Market Attractiveness by Component
Figure 8: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Enterprise Size
Figure 9: Global Market Value Share Analysis (2024 to 2034) by Enterprise Size
Figure 10: Global Market Attractiveness by Enterprise Size
Figure 11: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Industry
Figure 12: Global Market Value Share Analysis (2024 to 2034) by Industry
Figure 13: Global Market Attractiveness by Industry
Figure 14: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Region
Figure 15: Global Market Value Share Analysis (2024 to 2034) by Region
Figure 16: Global Market Attractiveness by Region
Figure 17: North America Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 18: Latin America Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 19: Western Europe Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 20: Eastern Western Europe Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 21: East Asia Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 22: South Asia & Pacific Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 23: Middle East and Africa Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 24: North America Market Value (US$ million), 2019 to 2023
Figure 25: North America Market Value (US$ million), 2024 to 2034
Figure 26: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 27: North America Market Value Share Analysis (2024 to 2034) by Component
Figure 28: North America Market Attractiveness by Component
Figure 29: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Enterprise Size
Figure 30: North America Market Value Share Analysis (2024 to 2034) by Enterprise Size
Figure 31: North America Market Attractiveness by Enterprise Size
Figure 32: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Industry
Figure 33: North America Market Value Share Analysis (2024 to 2034) by Industry
Figure 34: North America Market Attractiveness by Industry
Figure 35: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 36: North America Market Value Share Analysis (2024 to 2034) by Country
Figure 37: North America Market Attractiveness by Country
Figure 38: United States Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 39: Canada Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 40: Mexico Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 41: Latin America Market Value (US$ million), 2019 to 2023
Figure 42: Latin America Market Value (US$ million), 2024 to 2034
Figure 43: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 44: Latin America Market Value Share Analysis (2024 to 2034) by Component
Figure 45: Latin America Market Attractiveness by Component
Figure 46: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Enterprise Size
Figure 47: Latin America Market Value Share Analysis (2024 to 2034) by Enterprise Size
Figure 48: Latin America Market Attractiveness by Enterprise Size
Figure 49: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Industry
Figure 50: Latin America Market Value Share Analysis (2024 to 2034) by Industry
Figure 51: Latin America Market Attractiveness by Industry
Figure 52: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 53: Latin America Market Value Share Analysis (2024 to 2034) by Country
Figure 54: Latin America Market Attractiveness by Country
Figure 55: Brazil Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 56: Chile Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 57: Latin America Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 58: Western Europe Market Value (US$ million), 2019 to 2023
Figure 59: Western Europe Market Value (US$ million), 2024 to 2034
Figure 60: Western Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 61: Western Europe Market Value Share Analysis (2024 to 2034) by Component
Figure 62: Western Europe Market Attractiveness by Component
Figure 63: Western Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Enterprise Size
Figure 64: Western Europe Market Value Share Analysis (2024 to 2034) by Enterprise Size
Figure 65: Western Europe Market Attractiveness by Enterprise Size
Figure 66: Western Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Industry
Figure 67: Western Europe Market Value Share Analysis (2024 to 2034) by Industry
Figure 68: Western Europe Market Attractiveness by Industry
Figure 69: Western Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 70: Western Europe Market Value Share Analysis (2024 to 2034) by Country
Figure 71: Western Europe Market Attractiveness by Country
Figure 72: Germany Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 73: Italy Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 74: France Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 75: United Kingdom Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 76: Spain Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 77: BENELUX Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 78: Nordics Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 79: Western Europe Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 80: Eastern Europe Market Value (US$ million), 2019 to 2023
Figure 81: Eastern Europe Market Value (US$ million), 2024 to 2034
Figure 82: Eastern Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 83: Eastern Europe Market Value Share Analysis (2024 to 2034) by Component
Figure 84: Eastern Europe Market Attractiveness by Component
Figure 85: Eastern Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Enterprise Size
Figure 86: Eastern Europe Market Value Share Analysis (2024 to 2034) by Enterprise Size
Figure 87: Eastern Europe Market Attractiveness by Enterprise Size
Figure 88: Eastern Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Industry
Figure 89: Eastern Europe Market Value Share Analysis (2024 to 2034) by Industry
Figure 90: Eastern Europe Market Attractiveness by Industry
Figure 91: Eastern Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 92: Eastern Europe Market Value Share Analysis (2024 to 2034) by Country
Figure 93: Eastern Europe Market Attractiveness by Country
Figure 94: Russia Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 95: Poland Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 96: Balkan & Baltics Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 97: Eastern Europe Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 98: East Asia Market Value (US$ million), 2019 to 2023
Figure 99: East Asia Market Value (US$ million), 2024 to 2034
Figure 100: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 101: East Asia Market Value Share Analysis (2024 to 2034) by Component
Figure 102: East Asia Market Attractiveness by Component
Figure 103: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Enterprise Size
Figure 104: East Asia Market Value Share Analysis (2024 to 2034) by Enterprise Size
Figure 105: East Asia Market Attractiveness by Enterprise Size
Figure 106: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Industry
Figure 107: East Asia Market Value Share Analysis (2024 to 2034) by Industry
Figure 108: East Asia Market Attractiveness by Industry
Figure 109: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 110: East Asia Market Value Share Analysis (2024 to 2034) by Country
Figure 111: East Asia Market Attractiveness by Country
Figure 112: China Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 113: Japan Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 114: South Korea Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 115: South Asia & Pacific Market Value (US$ million), 2019 to 2023
Figure 116: South Asia & Pacific Market Value (US$ million), 2024 to 2034
Figure 117: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 118: South Asia & Pacific Market Value Share Analysis (2024 to 2034) by Component
Figure 119: South Asia & Pacific Market Attractiveness by Component
Figure 120: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Enterprise Size
Figure 121: South Asia & Pacific Market Value Share Analysis (2024 to 2034) by Enterprise Size
Figure 122: South Asia & Pacific Market Attractiveness by Enterprise Size
Figure 123: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Industry
Figure 124: South Asia & Pacific Market Value Share Analysis (2024 to 2034) by Industry
Figure 125: South Asia & Pacific Market Attractiveness by Industry
Figure 126: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 127: South Asia & Pacific Market Value Share Analysis (2024 to 2034) by Country
Figure 128: South Asia & Pacific Market Attractiveness by Country
Figure 129: India Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 130: ASEAN Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 131: Australia & New Zealand Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 132: South Asia & Pacific Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 133: Middle East and Africa Market Value (US$ million), 2019 to 2023
Figure 134: Middle East and Africa Market Value (US$ million), 2024 to 2034
Figure 135: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 136: Middle East and Africa Market Value Share Analysis (2024 to 2034) by Component
Figure 137: Middle East and Africa Market Attractiveness by Component
Figure 138: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Enterprise Size
Figure 139: Middle East and Africa Market Value Share Analysis (2024 to 2034) by Enterprise Size
Figure 140: Middle East and Africa Market Attractiveness by Enterprise Size
Figure 141: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Industry
Figure 142: Middle East and Africa Market Value Share Analysis (2024 to 2034) by Industry
Figure 143: Middle East and Africa Market Attractiveness by Industry
Figure 144: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 145: Middle East and Africa Market Value Share Analysis (2024 to 2034) by Country
Figure 146: Middle East and Africa Market Attractiveness by Country
Figure 147: Other GCC Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 148: KSA Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 149: Türkiye Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 150: South Africa Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 151: Middle East and Africa Market Absolute $ Opportunity (US$ million), 2019 to 2034
