predictive-maintenance-market-SIZE
IoT adoption, cost savings, and equipment uptime pressures are major drivers of growth in the Predictive Maintenance Market.
PORTLAND, ORIGON, UNITED STATES, September 16, 2023/EINPresswire.com/ — The need to improve uptime of equipment and increase in investment on predictive maintenance fuel the growth of the global predictive maintenance market. On the other hand, lack of skilled staff, difficulties in implementation, and data privacy & security concerns are some of the factors that restrain the growth to certain extent. However, integration of predictive maintenance with IIoT and use of machine learning are expected to create a number of lucrative opportunities in the near future.
☛ Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/2469
Based on component, the solution segment contributed to nearly three-fourths of the global predictive maintenance market share in 2018 and is expected to rule the roost during the forecast period. The need to reduce unplanned downtime with optimized maintenance scheduling and failure prevention, make better business decisions to quickly respond for upsurge in demand and emergency situations, maximize throughput by identifying process bottlenecks, reduce defects, and improve product quality with accurate predictive quality and optimized machine performance drive the growth of global predictive maintenance solution market. The service segment, on the other hand, would grow at the fastest CAGR of 32.9% throughout the study period. Rise in need to train the staffs, and effective utilization of predictive maintenance technology are expected to drive the growth of the segment.
☛ For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/2469
Based on deployment, the on-premise segment accounted for nearly three-fifths of the global predictive maintenance market revenue in 2018 and is anticipated to dominate till 2026. To avoid cyber-threats, companies tend to prefer on-premise predictive maintenance solution which, in turn, drives the growth of this segment. At the same time, the cloud segment would showcase the fastest CAGR of 32.20% by 2026. Direct IT control, internal data delivery & handling, faster data processing, efficient resource utilization, and cost-effectiveness of cloud deployment are some of the advantages offered by this model, which are projected to propel the growth.
Based on geography, North America held the major share in 2018, generating more than one-third of the global predictive maintenance market. It is due to the presence of a large number of solution and service vendors in this region. Furthermore, great awareness regarding predictive maintenance measures, its importance and early adoption of technology in this region have also spurred the demand for predictive maintenance in this region. Simultaneously, the Asia-Pacific region would cite the fastest CAGR of 31.90% during the forecast period. Surge in focus on trying innovative solution for achieving optimized output for maintenance of assets is expected to fuel the growth of predictive maintenance market in the region.
☛ Buy Now & Get Exclusive Discount On This Report: https://www.alliedmarketresearch.com/request-sample/predictive-maintenance-market/purchase-options
Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
The report presents in-depth insights into each of the leading Predictive Maintenance Market end user verticals along with annual forecasts to 2026. The report provides revenue forecast with sales, and sales growth rate of the global Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
Key Market Players:
► Microsoft Corporation
► SparkCognition
► SAP SE
► General Electric
► Asystom
► Sigma Industrial Precision
► Schneider Electric
► Hitachi, Ltd.
► PTC Inc.
► TIBCO Software Inc.
► SAS Institute Inc.
► Operational Excellence (Opex) Group Ltd.
► Engineering Consultants Group, Inc.
►IBM Corporation
► Expert Microsystems, Inc.
► C3.ai, Inc.
► Software AG
► Uptake Technologies Inc.
► Fiix Inc.
☛ Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/2469
Similar Report:
1. Aircraft Predictive Maintenance Market
2. Industrial Predictive Maintenance Market
Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.
David Correa
Allied Analytics LLP
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
