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According to a new market research report published by Credence Research “Global Predictive Maintenance Market– Growth, Future Prospects and Competitive Analysis,2019 - 2027”, the overall Predictive Maintenance market worldwide was valued at US$ 2.9Bn in 2018 and is set to grow with a CAGR of 28.5% during the forecast period.Market Insights
The global Predictive Maintenance market is highly driven by the rapid adoption of conditioning monitoring techniques for maintaining the machines. The conditioning monitoring enables the operators to keep the track on the functioning of the machine by various techniques such as vibration monitoring, electrical insulation, oil analysis, ultrasonic leak detectors, performance testing, and others. The rising demand for predictive maintenance among the vertical is due to various advantages such as it reduction in cost for equipment, as the repair made prior to failure resulting in minimizing the cost for the equipment.
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Secondly, the unscheduled downtime is minimized as the operators can judge the functionality of the machine which also results in the saving of cost and time, increasing the production time. Moreover, the rising utilization of IoT and the cloud-based system is also contributing in the growth of the predictive maintenance market. The deployment of the cloud with the conditioning monitoring systems and devices has enabled the operators and the users to analyze the condition of the machines from anywhere across the globe, moreover, the techniques also enable the user to analyze functionality and performance of the machine. In 2018 November, Software AG launched a next-generation open and enterprise-grade cloud platform. This platform was made for deploying, testing, managing various enterprise, and IoT applications.
Based on End User, the manufacturing segments dominate the market with a market share of 28.6% in 2018. The high demand from the manufacturing industries for conditioning monitoring is a major factor for driving the predictive maintenance market. The ability of predictive maintenance to predict the machine failure allows the manufacturing industries to analyze the functionality of the machine allowing the user to repair the machine part which is affected to fail during the production.
Asia-Pacific is considered to be the fastest-growing region due to the presence of various manufacturing units, growing demand for automobile, transportation, and consumer electronics industries. Moreover, the presence of various key and local vendors in the region such as Ecolibrium Energy, Hitachi and others also contribute in the growth of the market. Moreover, the increasing rules and regulation for safety measurement in the region is a major factor for driving the predictive maintenance market in the Asia-Pacific region. However, North America is the dominating region with a market share of 33% in 2018, which is followed by Europe. Both North America and Europe has various automobile, manufacturing, oil and gas and other industries which are driving the market.
Some of the major companies profiled for predictive maintenance market are IBM Corporation, SAP SE, General Electric, Software AG, Robert Bosch, PTC Inc., Rockwell Automation, Warwick Analytics, Schneider Electric Se, and RapidMiner.
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Report Scope by Segments
By Component Segment (2017–2027; US$ Bn)
Solution
Services
By Technique Segment (2017–2027; US$ Bn)
Vibration monitoring
Electrical insulation
Oil analysis
Ultrasonic leak detectors
Performance testing
Others
By Deployment Segment (2017–2027; US$ Bn)
Cloud
On-Premise
By End User Segment (2017–2027; US$ Bn)
Manufacturing
Aerospace & defense
Healthcare
Automotive
Energy and Utilities
Government
Transportation
Others
ToC:
Chapter 1 Preface
1.1 Report Scope and Description
1.1.1 Study Purpose
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Approach Adopted
1.3.4 Top-Down Approach
1.3.5 Bottom-Up Approach
1.3.6 Phase III – Expert Panel Review
1.3.7 Assumptions
1.4 Market Segmentation
Chapter 2 Executive Summary
............
Chapter 3 Market Dynamics
3.1 Introduction
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.1.1 XXXXX
3.2.1.2 XXXX
3.2.1.3 XXXX
3.2.2 Market Restraint
3.2.2.1 XXXX
3.3 Attractive Investment Proposition, by Geography, 2017
3.4 Market Positioning of Key Predictive Maintenance Vendors, 2017
Chapter 4 Global Predictive Maintenance Market, by Component
4.1 Overview
4.2 Solutions
4.3 Services
Chapter 5 Global Predictive Maintenance Market, by Technique
5.1 Overview
5.2 Vibration monitoring
5.3 Electrical insulation
5.4 Oil analysis
5.5 Ultrasonic leak detectors
5.6 Performance testing
5.7 Others
Chapter 6 Global Predictive Maintenance Market, by Deployment
6.1 Overview
6.2 Cloud
6.3 On-Premise
Chapter 7 Global Predictive Maintenance Market, by End-user
..........
Chapter 8 North America Predictive Maintenance Market Analysis, 2017 – 2027 (US$ Bn)
..........
Chapter 9 Europe Predictive Maintenance Market Analysis, 2017 – 2027 (US$ Bn)
...........
Chapter 10 Asia Pacific Predictive Maintenance Market Analysis, 2017 – 2027 (US$ Bn)
...........
Chapter 11 Rest of the World (RoW) Predictive Maintenance Market Analysis, 2017 – 2027 (US$ Bn)
...........
Chapter 12 Company Profiles
12.1 IBM Corporation
12.2 SAP SE
12.3 Software AG
12.4 Robert Bosch
12.5 Rockwell Automation
12.6 PTC Inc.
12.7 Warwick Analytics
12.8 RapidMiner,
12.9 Schneider Electric Se
12.10 General Electric
.................toc continued
Browse the full report at https://www.credenceresearch.com/report/predictive-maintenance-market
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Medium: Predictive Maintenance Market is growing with a CAGR of 28.5% during 2019–2027
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