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Predictive Maintenance (PdM) Market Overview:
The predictive maintenance (PdM) market is
garnering substantial traction. The market growth attributes to the rising
adoption of PdM solutions in the rapidly growing manufacturing, energy &
utilities, healthcare, automotive, aerospace & defense, transportation
sectors. The Predictive Maintenance (PdM) market industry is projected to
grow from USD21.83 Billion in 2022 to USD 111.30 billion by 2030, exhibiting a
compound annual growth rate (CAGR) of 26.20% during the forecast period (2022 -
2030).
Besides, the growing implementations of the
Internet of Things (IoT) across end-user verticals worldwide drive the market
growth, allowing different assets & systems to connect, synchronize, share,
analyze, and act on the data. With substantial R&D investments in the
development of PdM solutions, the market is projected to garner vast gains
during the next few years.
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Key Palyers:
Key Companies in the
Predictive Maintenance (PdM) market includes,
- Axiomtek Co. Ltd (Taiwan)
- Oracle Corporation (US)
- Microsoft Corporation (US)
- XMPro (US)
- IBM Corporation (US)
- RapidMiner (US)
- Hitachi Ltd (Japan)
The smart revolution is impacting industries
exponentially, allowing data-driven research. Industries leverage the
analytical capabilities of PdM to thrive in continually rising volumes, types,
and complexities of data. Utilities are increasingly implementing PdM solutions
to target market strategic framework, impacting the market growth
positively.
Global Predictive Maintenance Market - Segments
The report is segmented into components, testing
types, deployments, techniques, verticals, and regions. The component segment
is sub-segmented into hardware, solutions, and services (consulting, support
& maintenance, system integration, others).
The testing type segment is sub-segmented into
vibration monitoring, electrical insulation, infrared thermography, temperature
monitoring, ultrasonic leak detector, oil analysis, and others. The deployment
segment is sub-segmented into on-cloud and on-premise.
The technique segment is sub-segmented into
traditional and advanced techniques. The vertical segment is sub-segmented into
manufacturing, healthcare, energy & utility, automotive, aerospace &
defense, transportation, and others. By regions, the market is sub-segmented
into North America, Europe, APAC, and the rest of the world.
Predictive Maintenance Market - Regional Analysis
North America holds a significant share in the
global predictive maintenance market. The presence of leading solution
providers investing heavily in R&D to enhance the capabilities and
operational efficiency of their solutions drives the market growth.
Besides, the growing adoption of advanced
technologies in manufacturing industries across the region to halve unplanned
downtime and maintenance costs boost the market size. Moreover, the increasing
demand from energy & utilities, alongside government initiatives &
utility-scale policy, increases the region's market shares.
Global PdM Market - Competitive Landscape
Highly competitive, the PdM market appears to be
fragmented due to the presence of several well-established industry players.
These players initiate strategic approaches such as mergers & acquisitions,
collaboration, expansion, and technology launch to gain a larger competitive
advantage.
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Industry/Innovation/Related News:
Feb. 16, 2021 --- Senseye,
a leading machine health management company, announced the collaboration with
PTC to accelerate the adoption of its predictive maintenance technology, making
it available for PTC's ThingWorx Industrial IoT (IIoT) Solutions Platform.
Senseye PdM can allow users to monitor assets automatically and even anticipate
future machine failures by applying Senseye's proprietary algorithms and AI
technology.
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