A new report added by Big Market Research (BMR) states that the global predictive maintenance market size is projected to reach $23,014.7 million by 2026 and register a CAGR of 30.20% from 2019 to 2026
PORTLAND, Oregon, Oct. 3, 2019 /PRNewswire/ -- The report outlines the potential of the predictive maintenance industry, and offers statistics and information on market dynamics, growth factors, key challenges, major drivers & restraints, opportunities for the forecast period.
As per the Global Predictive Maintenance Market report, the growing need to improve the uptime of asset and decrease its cost, growth in investment in predictive maintenance due to adoption of IoT drives, increase in need to obtain insights from the adoption of new technologies are factors leading to the growth of the predictive maintenance market. Moreover, the implementation of advanced technologies such machine learning and integration of predictive maintenance with IIoT is expected to fuel the growth of the predictive maintenance market and offer lucrative growth opportunity for the predictive maintenance market players.
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The market report is segmented based on component, deployment model, technique, stakeholder, industry vertical, and region. Based on the component, the report divides the market into solution and service. Further, by technique, the report classifies the market into electrical testing, vibration monitoring, ultrasonic leak detectors, oil analysis, shock pulse, infrared, and others. By stakeholder, the report segregates the market into MRO, OEM/ODM, and technology integrators. Based on industry vertical, the report segments the market into manufacturing, energy & utilities, aerospace & defense, transportation & logistics, government, and others. Regionally, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. All these insights offered in the report provides detailed information about key drivers, restraints, and opportunities in the market.
The key players profiled in the report leading the global predictive maintenance sector are Microsoft Corporation, SAP SE, IBM Corporation, General Electric, Fiix Inc., Schneider Electric, Hitachi, Ltd., PTC Inc., Engineering Consultants Group, Inc., Expert Microsystems, Inc., SparkCognition, C3.ai, Inc., Software AG, SAS Institute Inc., Uptake Technologies Inc., Operational Excellence (Opex) Group Ltd, TIBCO Software Inc., Asystom, and Sigma Industrial Precision. The research delivers the performance of each player functioning in the global market.
This report is a great source of information offering answers to all the questions faced by industry shareholders such as manufacturers, partners, end-users, and investors. It helps in planning investments and capitalizing on market opportunities. Besides this, the report presents Porter's five forces analysis which helps in demonstrating the potency of the buyers and supplier in the industry.
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The report clearly indicates that the predictive maintenance industry has achieved substantial growth since 2018. This report is prepared based on a complete evaluation of the industry by professionals. To obtain more details of this report you can request for sample pages from the link provided below.
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