HOME › Press Releases › Operational Predictive Maintenance Market worth 1.88 Billion USD by 2020
Operational Predictive Maintenance Market worth 1.88 Billion USD by 2020
The report "Operational Predictive Maintenance Market by Solution, by Service (System Integration, Training and Support, Consulting, by Deployment Type (Cloud, on-Premise), by Application Area, by Region (NA, Europe, APAC, MEA, LA) - Global Forecast to 2020", The operational predictive maintenance market size is estimated to grow from USD 582.3 Million in 2015 to USD 1,884.3 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 26.5%.
Browse 47 tables and 47 figures spread through 112 Pages and in-depth TOC on "Operational Predictive Maintenance Market - Global Forecast to 2020"
Early buyers will receive 10% customization on reports.
Operational predictive maintenance solutions are gaining popularity with increasing usage across all the major industrial verticals such as automotive, manufacturing, energy & utilities, healthcare, and others. One of the main reasons for the increasing usage is the ability of these software solutions to precisely predict asset failure, enabling enterprises to take the asset out of production just before it is to fail, thus ensuring production is not hampered in any way due to the failure of the asset.
The manufacturing vertical is expected to have the largest market size
The manufacturing vertical has the largest market size in the operational predictive maintenance market. Manufacturers are seeing the maintenance as a strategic business function as lowering the maintenance cost will help increase profitability.
Cloud deployment is expected to grow at the highest CAGR during the forecast period
The cloud-based operational predictive security market is expected to grow at the highest CAGR, as cloud-based operational predictive maintenance will enable enterprises to reduce their dependence on IT, data mining specialists, and data integration.
North America expected to contribute the largest market share, APAC to grow the fastest
North America is expected to hold the largest market share and would dominate the operational predictive maintenance market from 2015 to 2020, due to the presence of a large number of solution and service vendors. APAC offers potential growth opportunities for the operational predictive maintenance market to grow, as countries in APAC are investing heavily to increase the efficiency of production assets.
The major vendors in the operational predictive maintenance market include IBM Corporation, Software AG, General Electric, Bosch, Rockwell Automation, PTC, Schneider Electric, SKF, and others.
MarketsandMarkets segments the operational predictive maintenance market on the basis of solutions, services, application areas, deployment types, and regions. The report covers regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The report also covers detailed information regarding the major factors influencing the growth of the operational predictive maintenance market, such as drivers, restraints, challenges, and opportunities.
MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India