Predictive Maintenance Market by Component, Deployment Type (Cloud and on-Premises), Organization Size (SMES and Enterprises), Vertical, and Region - Global Forecast to 2021

MarketsandMarkets estimates the predictive maintenance market to grow from USD 1,404.3 Million in 2016 to USD 4,904.0 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 28.4% during the forecast period.

Objectives of the Study:

The main objective of this report is to define, describe, and forecast the predictive maintenance market on the basis of segments that include components, deployment types, organization size, verticals, and regions. The base year considered for the study is 2015 and the market size is projected from 2016 to 2021. With the rise in focus towards reduction in operational cost, the demand for predictive maintenance solutions and services is expected to grow in the next five years. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). The report attempts to forecast the market size with respect to the five main regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The report strategically profiles the key players and comprehensively analyzes their core competencies. This report also tracks and analyzes the competitive developments, such as Mergers & Acquisitions (M&A), new product developments, and Research & Development (R&D) activities in the predictive maintenance market.

The research methodology used to estimate and forecast the predictive maintenance market begins with capturing data on key vendor’s revenues through secondary research. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. These data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of the primary is depicted in the figure given below:

To know about the assumptions considered for the study, download the pdf brochure

Industry Ecosystem

The predictive maintenance ecosystem comprises vendors providing predictive maintenance solutions and services to fulfill the maintenance needs of the government, aerospace & defense, healthcare, manufacturing, energy & utilities, and transportation & logistics. Companies such as IBM, Software AG, SAS, General Electric, Bosch, and Rockwell Automation adopted new product launches as their key strategy to enhance their market reach. This strategy accounted for the largest market share of the total strategies adopted by the market players.

Key Target Audience

• Predictive maintenance vendors
• System integrators
• Consulting firms
• Research organizations
• Resellers and distributors
• Technology partners

Scope of the Report

The research report segments the predictive maintenance market into the following submarkets:

By Component:

• By Solution
• By Service:
  • Consulting
  • Support and Maintenance
  • System integration

By Deployment Type:

• Cloud
• On-premises

By Organization Size:

• Small and medium size enterprises
• Large enterprises

By Vertical:

• Government
• Aerospace and defense
• Energy and utilities
• Healthcare
• Manufacturing
• Transportation and logistics
• Others

By Region:

• North America
• Europe
• APAC
• MEA
• Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

• Product matrix that gives a detailed comparison of the product portfolios of each company

Geographic Analysis

• Further breakdown of the North America predictive maintenance market
• Further breakdown of the European market
• Further breakdown of the APAC market

Company Information

• Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 12)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Vendor Dive Matrix
           2.4.1 Quadrant Description
    2.5 Research Assumptions

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 27)
    4.1 Attractive Market Opportunities in the Global Market
    4.2 Predictive Maintenance Market, By Component
    4.3 Global Market By Vertical and Region
    4.4 Lifecycle Analysis, By Region

5 Market Overview (Page No. - 30)
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Segmentation
           5.3.1 By Component
           5.3.2 By Organization Size
           5.3.3 By Deployment Type
           5.3.4 By Vertical
           5.3.5 By Region
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Reduction in Operation & Maintenance Costs and Asset Downtime
                    5.4.1.2 Increasing Demand for Transforming Maintenance
                    5.4.1.3 Helps in Decision-Making and Increasing Operational Efficiency
                    5.4.1.4 Big Data and IoT Driving the Market
           5.4.2 Restraints
                    5.4.2.1 Lack of Training
                    5.4.2.2 Lack of Trust in Predictive Maintenance Technologies
           5.4.3 Opportunities
                    5.4.3.1 Increasing Demand for Real-Time Streaming Analytics
                    5.4.3.2 Increasing Demand From Small and Medium Enterprises
           5.4.4 Challenges
                    5.4.4.1 Predictive Maintenance May Not Be Considered as an Integral Part of the Overall Maintenance Process
                    5.4.4.2 Adequate and Structured Data Collection
                    5.4.4.3 Challenges to Support Wide Range of Complex Equipment
    5.5 Innovation-Spotlight

6 Industry Trends (Page No. - 38)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Strategic Benchmarking
           6.3.1 Strategic Benchmarking: New Product Launches and Partnerships of Top Vendors

7 Predictive Maintenance Market Analysis, By Component (Page No. - 40)
    7.1 Introduction
    7.2 Solutions
    7.3 Services
           7.3.1 System Integration
           7.3.2 Maintenance and Support
           7.3.3 Consulting Services

8 Predictive Maintenance Market Analysis, By Deployment Type (Page No. - 46)
    8.1 Introduction
    8.2 Cloud
    8.3 On-Premises

9 Predictive Maintenance Market Analysis, By Organization Size (Page No. - 50)
    9.1 Introduction
    9.2 Small and Medium Enterprises
    9.3 Large Enterprises

10 Predictive Maintenance Market Analysis, By Vertical (Page No. - 54)
     10.1 Introduction
     10.2 Government
     10.3 Aerospace and Defense
     10.4 Energy and Utilities
     10.5 Manufacturing
     10.6 Healthcare
     10.7 Transportation and Logistics
     10.8 Others

11 Geographic Analysis (Page No. - 62)
     11.1 Introduction
     11.2 North America
     11.3 Europe
     11.4 Asia-Pacific
     11.5 Middle East and Africa
     11.6 Latin America

12 Vendor Dive Analysis (Page No. - 78)
     12.1 Overview
             12.1.1 Vanguards
             12.1.2 Innovators
             12.1.3 Dynamic
             12.1.4 Emerging
     12.2 Product Offerings
     12.3 Business Strategy
     12.4 Company Synopsis
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
             12.4.1 Augury Systems
             12.4.2 Bosch Software Innovations GmbH
             12.4.3 C3 IoT
             12.4.4 Dell Technologies, Inc.
             12.4.5 Fluke Corporation
             12.4.6 General Electric Company
             12.4.7 Hitachi, Ltd.
             12.4.8 Honeywell International, Inc.
             12.4.9 IBM Corporation
             12.4.10 PTC
             12.4.11 Rapidminer, Inc.
             12.4.12 Rockwell Automation, Inc.
             12.4.13 SAP SE
             12.4.14 SAS Institute, Inc.
             12.4.15 Schneider Electric
             12.4.16 Senseye, Ltd.
             12.4.17 SKF
             12.4.18 Software AG
             12.4.19 Softweb Solutions, Inc.
             12.4.20 T-Systems International GmbH
             12.4.21 Warwick Analytics

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 105)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Author Details

List of Tables (48 Tables)

Table 1 Predictive Maintenance Market Size and Growth Rate, 2014-2021 (USD Million, Y-O-Y %)
Table 2 Market Size By Component, 2014–2021 (USD Million)
Table 3 Solutions: Market Size, By Region, 2014–2021 (USD Million)
Table 4 Market Size By Service, 2014–2021 (USD Million)
Table 5 System Integration: Market Size, By Region, 2014–2021 (USD Million)
Table 6 Maintenance and Support: Market Size By Region, 2014–2021 (USD Million)
Table 7 Consulting Services: Market Size By Region, 2014–2021 (USD Million)
Table 8 Predictive Maintenance Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 9 Cloud: Market Size, By Region, 2014–2021 (USD Million)
Table 10 On-Premises: Market Size, By Region, 2014–2021 (USD Million)
Table 11 The Small and Medium Enterprises Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Table 12 Predictive Maintenance Market Size, By Organization Size, 2014–2021 (USD Million)
Table 13 Small and Medium Enterprises: Market Size, By Region, 2014–2021 (USD Million)
Table 14 Large Enterprises: Market Size, By Region, 2014–2021 (USD Million)
Table 15 Predictive Maintenance Market Size, By Vertical, 2014–2021 (USD Million)
Table 16 Government: Market Size, By Region, 2014–2021 (USD Million)
Table 17 Aerospace and Defense: Market Size, By Region, 2014–2021 (USD Million)
Table 18 Energy and Utilities: Market Size, By Region, 2014–2021 (USD Million)
Table 19 Manufacturing: Market Size, By Region, 2014–2021 (USD Million)
Table 20 Healthcare: Market Size, By Region, 2014–2021 (USD Million)
Table 21 Transportation and Logistics: Market Size, By Region, 2014–2021 (USD Million)
Table 22 Others: Market Size, By Region, 2014–2021 (USD Million)
Table 23 Predictive Maintenance Market Size, By Region, 2014–2021 (USD Million)
Table 24 North America: Market Size, By Component, 2014–2021 (USD Million)
Table 25 North America: Predictive Maintenance Market Size, By Service, 2014–2021 (USD Million)
Table 26 North America: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 27 North America: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 28 North America: Market Size, By Vertical, 2014–2021 (USD Million)
Table 29 Europe: Predictive Maintenance Market Size, By Component, 2014–2021 (USD Million)
Table 30 Europe: Market Size, By Service, 2014–2021 (USD Million)
Table 31 Europe: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 32 Europe: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 33 Europe: Market Size, By Vertical, 2014–2021 (USD Million)
Table 34 Asia-Pacific: Predictive Maintenance Market Size, By Component, 2014–2021 (USD Million)
Table 35 Asia-Pacific: Market Size, By Service, 2014–2021 (USD Million)
Table 36 Asia-Pacific: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 37 Asia-Pacific: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 38 Asia-Pacific: Market Size, By Vertical, 2014–2021 (USD Million)
Table 39 Middle East and Africa: Predictive Maintenance Market Size, By Component, 2014–2021 (USD Million)
Table 40 Middle East and Africa: Market Size, By Service, 2014–2021 (USD Million)
Table 41 Middle East and Africa: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 42 Middle East and Africa: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 43 Middle East and Africa: Market Size, By Vertical, 2014–2021 (USD Million)
Table 44 Latin America: Predictive Maintenance Market Size, By Component, 2014–2021 (USD Million)
Table 45 Latin America: Market Size, By Service, 2014–2021 (USD Million)
Table 46 Latin America: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 47 Latin America: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 48 Latin America: Market Size, By Vertical, 2014–2021 (USD Million)

List of Figures (30 Figures)

Figure 1 Global Predictive Maintenance Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Vendor Dive Matrix: Criteria Weightage
Figure 7 Vendor Dive Matrix
Figure 8 Top Three Categories for the Global Predictive Maintenance Market in 2016
Figure 9 North America is Estimated to Hold the Largest Share of the Predictive Maintenance Market in 2016
Figure 10 Increase in Adoption of Cloud-Based Predictive Maintenance Solutions Will Boost the Predictive Maintenance Market During the Forecast Period
Figure 11 Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 12 Manufacturing Vertical and North America are Estimated to Hold the Largest Market Share in 2016
Figure 13 The Asia-Pacific Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 Evolution of the Predictive Maintenance Market
Figure 15 Market Segmentation By Service
Figure 16 Market Segmentation By Organization Size
Figure 17 Market Segmentation By Deployment Type
Figure 18 Market Segmentation By Vertical
Figure 19 Market Segmentation By Region
Figure 20 Market Drivers, Restraints, Opportunities, and Challenges
Figure 21 Predictive Maintenance Market: Value Chain
Figure 22 Strategic Benchmarking: New Product Launches and Partnerships of Top Vendors
Figure 23 Predictive Maintenance Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Cloud Deployment Type is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Energy and Utilities Vertical Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 Asia-Pacific Expected to Grow at the Highest CAGR in the Global Predictive Maintenance Market During the Forecast Period
Figure 27 Regional Snapshot: Asia-Pacific is the Emerging Region in the Market (2016-2021)
Figure 28 North America Market Snapshot: Presence of Key Verticals in the Region is A Major Factor Contributing Towards the Growth of the Predictive Maintenance Market
Figure 29 Asia-Pacific Market Snapshot: Rising Demand for Lowering Operational Cost Among Verticals is A Major Factor Contributing Towards the Growth of the Market
Figure 30 Dive Chart

The predictive maintenance market is expected to grow from USD 1,404.3 Million in 2016 to USD 4,904.0 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 28.4% during the forecast period. Several factors such as increasing demand for big data & Internet of Things (IoT) and focus on reducing operational costs are responsible for the growth of market. Verticals such as government, aerospace & defense, energy & utilites, manufacturing, healthcare, and transportation & logistics have boosted the market.

The predictive maintenance market is segmented by component, deployment type, organization size, vertical, and region. The predictive maintenance solution is expected to dominate the market, contributing to the largest market share during the forecast period. The market is also projected to witness growth in the system integration and consulting services segment during the forecast period. The support and maintenance service is expected to play a key role in the predictive maintenance market and is projected to grow at the highest CAGR in the next five years. These services revolve around training the client’s workforce on how to use the solutions installed. The on-premises segment is expected to dominate the market in terms of market size. However, the cloud segment is expected to grow at the highest CAGR in the next five years.

North America is expected to have the largest market share and would dominate the predictive maintenance market during the forecast period. The Asia-Pacific (APAC) region offers potential growth opportunities for the market and is expected to grow at the highest CAGR during the forecast period. APAC and Middle East & Africa (MEA) markets are investing heavily on predictive maintenance solutions and services to increase their production efficiency by reducing unplanned downtime and operational costs.

The common problems faced by the organizations that are trying to adopt predictive maintenance include lack of training provided to the operators and scarce availability of experts in the predictive maintenance market. Furthermore, in predictive maintenance, skills play a crucial role as technicians, analysts, and engineers have to interpret the data captured by the predictive maintenance technologies. This can act as a major factor that restrains the growth of the market.

The major vendors in the predictive maintenance market include IBM (U.S.), SAP SE (Germany), Software AG (Germany), General Electric (U.S.), Robert Bosch (Germany), Rockwell Automation (U.S.), PTC (U.S.), Warwick Analytics (U.K.), RapidMiner (U.S.), and SKF (Sweden).

These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships & collaborations, and mergers & acquisitions to expand their offerings in the predictive maintenance market.

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