Predictive Maintenance (PdM) Market size to grow by USD 16,576.78 million from 2022 to 2027; Augury Inc. and Avnet Inc. emerge as key contributors – Technavio

NEW YORK, June 28, 2023 /PRNewswire/ — The latest report on the predictive maintenance (PdM) market from 2022 to 2027 estimates to register an incremental growth of USD 16,576.78 million, at a CAGR of 29.44% during the forecast period. North America is estimated to account for 39% of the global market growth during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

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• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
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Predictive Maintenance (PdM) Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on Component (Solutions and Service), Deployment (On-premise and Cloud), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The predictive maintenance market share growth by the solutions segment will be significant for overall market growth during the forecast period. The rising adoption of PdM solutions in various growing sectors such as energy and utilities, manufacturing, and healthcare is boosting the growth of the PdM market globally. Additionally, PdM integration guarantees the return on investment (ROI) and helps organizations meet and exceed sustainability goals, enabling remote machine monitoring globally. Hence, high-growth industries such as aerospace, defense, and automotive are also increasingly integrating PdM platforms into their systems, which supports the growth of this segment. 

Geography Overview
By geography, the global predictive maintenance (PDM) market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global predictive maintenance (PDM) market.

• North America is estimated to account for 39% of the global market growth during the forecast period. The region is dominant because it is an early adopter of sophisticated technology. There are huge amounts of data produced in this region, which drives the market for advanced analytics to consume the data and discover intelligent relationships and insights. Additionally, the region is tech-mature, and the industrial sector across the region is completely developed, which is leading to the easy adoption of advanced software solutions to drive efficiency and productivity. Hence, such factors boost regional market growth. 

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report

Predictive Maintenance (PdM) Market – Market Dynamics
Key factor driving PdM market growth

• The increased adoption of advanced analytics by SMEs owing to the rise in cloud computing is notably driving market growth.
• The cloud PdM tools adoption provides SMEs with new opportunities by leveraging technologies, such as mobility, AI, and IoT.
•  PdM tools are adopted through the cloud across SMEs for better management of business operations through a centralized management system, with improved collaboration, productivity, simplified compliance, and risk management. 

Leading trends influencing the market 

• The proliferation of advanced technologies, AI, and IoT is an emerging trend in the global PdM market growth. 
• The technological capability of organizations around the world is expected to rise with the adoption of advanced business intelligence systems during the forecast period, which would serve as an uptick in the global PdM market.
• Furthermore, the technological capability of organizations around the world is expected to rise with the adoption of advanced business intelligence systems during the forecast period, which would serve as an uptick in the global PdM market.
• Hence, such factors drive the PDM market growth during the forecast period.

Major challenges hindering the market growth

• Lack of expertise and technical knowledge is a major challenge hindering the growth of the global PdM market. 
• The shortage of talented people and niche skills to manage and operate predictive analytics is a constant challenge for enterprises. 
• PdM helps prevent equipment failure through corrective or planned maintenance. Additionally, PdM cannot exist without health monitoring.
• This part of developing an accurate and efficient model is a vital aspect of micro-segmentation since it requires extensive expertise.
• Hence, a lack of expertise and technical knowledge will negatively impact the growth of the global PdM market during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Predictive Maintenance (PdM) Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Predictive Maintenance (PdM) Market between 2023 and 2027
• Precise estimation of the size of the Predictive Maintenance (PdM) Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Predictive Maintenance (PdM) Market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Predictive Maintenance (PdM) Market vendors

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Related Reports:
The industrial predictive maintenance market in APAC is expected to increase by USD 7.44 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 34.71%. Furthermore, this report extensively covers the industrial predictive maintenance market in APAC segmentation by End-user (oil and gas, chemical and petrochemical, aerospace and defense, power generation, and others), deployment (cloud and on-premises), and geography (China, Japan, India, and Rest of APAC). Shift from reactive to predictive maintenance is one of the key industrial predictive maintenance market trends that is expected to impact the industry positively in the forecast period.

The predictive analytics market size is expected to increase to USD 17.00 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 21.36%. Furthermore, this report extensively covers predictive analytics market segmentation by deployment (cloud-based and on-premises) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The requirement of advanced analytics for operational efficiency is notably driving the predictive analytics market growth.

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global predictive maintenance (PdM) market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on global predictive maintenance (pdm) market 2017 – 2021 ($ million)

• 4.2 Component Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Component Segment 2017 – 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – Deployment Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments 
• Exhibit 30: Chart on Component – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component – Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Solutions – Market size and forecast 2022-2027
• Exhibit 34: Chart on Solutions – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Solutions – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Solutions – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Solutions – Year-over-year growth 2022-2027 (%)

• 6.4 Service – Market size and forecast 2022-2027
• Exhibit 38: Chart on Service – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Service – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Service – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Service – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ million)
• Exhibit 43: Data Table on Market opportunity by Component ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments 
• Exhibit 44: Chart on Deployment – Market share 2022-2027 (%)
• Exhibit 45: Data Table on Deployment – Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 46: Chart on Comparison by Deployment
• Exhibit 47: Data Table on Comparison by Deployment

• 7.3 On-premise – Market size and forecast 2022-2027
• Exhibit 48: Chart on On-premise – Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on On-premise – Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on On-premise – Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on On-premise – Year-over-year growth 2022-2027 (%)

• 7.4 Cloud – Market size and forecast 2022-2027
• Exhibit 52: Chart on Cloud – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Cloud – Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Cloud – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Cloud – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 56: Market opportunity by Deployment ($ million)
• Exhibit 57: Data Table on Market opportunity by Deployment ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027
• Exhibit 63: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027
• Exhibit 67: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027
• Exhibit 75: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027
• Exhibit 83: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027
• Exhibit 87: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 UK – Market size and forecast 2022-2027
• Exhibit 91: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.11 Canada – Market size and forecast 2022-2027
• Exhibit 95: Chart on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.12 Germany – Market size and forecast 2022-2027
• Exhibit 99: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Augury Inc. 
• Exhibit 111: Augury Inc. – Overview
• Exhibit 112: Augury Inc. – Product / Service
• Exhibit 113: Augury Inc. – Key offerings

• 12.4 C3.ai Inc. 
• Exhibit 114: C3.ai Inc. – Overview
• Exhibit 115: C3.ai Inc. – Business segments
• Exhibit 116: C3.ai Inc. – Key offerings
• Exhibit 117: C3.ai Inc. – Segment focus

• 12.5 Dell Technologies Inc. 
• Exhibit 118: Dell Technologies Inc. – Overview
• Exhibit 119: Dell Technologies Inc. – Business segments
• Exhibit 120: Dell Technologies Inc. – Key offerings
• Exhibit 121: Dell Technologies Inc. – Segment focus

• 12.6 Fortive Corp. 
• Exhibit 122: Fortive Corp. – Overview
• Exhibit 123: Fortive Corp. – Business segments
• Exhibit 124: Fortive Corp. – Key news
• Exhibit 125: Fortive Corp. – Key offerings
• Exhibit 126: Fortive Corp. – Segment focus

• 12.7 General Electric Co. 
• Exhibit 127: General Electric Co. – Overview
• Exhibit 128: General Electric Co. – Business segments
• Exhibit 129: General Electric Co. – Key news
• Exhibit 130: General Electric Co. – Key offerings
• Exhibit 131: General Electric Co. – Segment focus

• 12.8 Hitachi Ltd. 
• Exhibit 132: Hitachi Ltd. – Overview
• Exhibit 133: Hitachi Ltd. – Business segments
• Exhibit 134: Hitachi Ltd. – Key news
• Exhibit 135: Hitachi Ltd. – Key offerings
• Exhibit 136: Hitachi Ltd. – Segment focus

• 12.9 Honeywell International Inc. 
• Exhibit 137: Honeywell International Inc. – Overview
• Exhibit 138: Honeywell International Inc. – Business segments
• Exhibit 139: Honeywell International Inc. – Key news
• Exhibit 140: Honeywell International Inc. – Key offerings
• Exhibit 141: Honeywell International Inc. – Segment focus

• 12.10 International Business Machines Corp.
• Exhibit 142: International Business Machines Corp. – Overview
• Exhibit 143: International Business Machines Corp. – Business segments
• Exhibit 144: International Business Machines Corp. – Key news
• Exhibit 145: International Business Machines Corp. – Key offerings
• Exhibit 146: International Business Machines Corp. – Segment focus

• 12.11 PTC Inc. 
• Exhibit 147: PTC Inc. – Overview
• Exhibit 148: PTC Inc. – Business segments
• Exhibit 149: PTC Inc. – Key offerings
• Exhibit 150: PTC Inc. – Segment focus

• 12.12 RapidMiner Inc. 
• Exhibit 151: RapidMiner Inc. – Overview
• Exhibit 152: RapidMiner Inc. – Product / Service
• Exhibit 153: RapidMiner Inc. – Key offerings

• 12.13 Robert Bosch GmbH 
• Exhibit 154: Robert Bosch GmbH – Overview
• Exhibit 155: Robert Bosch GmbH – Business segments
• Exhibit 156: Robert Bosch GmbH – Key news
• Exhibit 157: Robert Bosch GmbH – Key offerings
• Exhibit 158: Robert Bosch GmbH – Segment focus

• 12.14 Rockwell Automation Inc. 
• Exhibit 159: Rockwell Automation Inc. – Overview
• Exhibit 160: Rockwell Automation Inc. – Business segments
• Exhibit 161: Rockwell Automation Inc. – Key news
• Exhibit 162: Rockwell Automation Inc. – Key offerings
• Exhibit 163: Rockwell Automation Inc. – Segment focus

• 12.15 SAP SE 
• Exhibit 164: SAP SE – Overview
• Exhibit 165: SAP SE – Business segments
• Exhibit 166: SAP SE – Key news
• Exhibit 167: SAP SE – Key offerings
• Exhibit 168: SAP SE – Segment focus

• 12.16 SAS Institute Inc. 
• Exhibit 169: SAS Institute Inc. – Overview
• Exhibit 170: SAS Institute Inc. – Product / Service
• Exhibit 171: SAS Institute Inc. – Key news
• Exhibit 172: SAS Institute Inc. – Key offerings

• 12.17 Schneider Electric SE 
• Exhibit 173: Schneider Electric SE – Overview
• Exhibit 174: Schneider Electric SE – Business segments
• Exhibit 175: Schneider Electric SE – Key news
• Exhibit 176: Schneider Electric SE – Key offerings
• Exhibit 177: Schneider Electric SE – Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 178: Inclusions checklist
• Exhibit 179: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 180: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 181: Research methodology
• Exhibit 182: Validation techniques employed for market sizing
• Exhibit 183: Information sources

• 13.5 List of abbreviations 
• Exhibit 184: List of abbreviations

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