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PREDICTIVE MAINTENANCE

Global Market Trajectory & Analytics

MCP14179

VALIDATED EXECUTIVE ENGAGEMENTS

POOL + OUTREACH

49853
Number of executives repeatedly engaged by snail & email outreach

INTERACTIONS

3988
Interactions with Platform & by Email

PARTICIPANTS

963
Unique # Participated

VALIDATIONS

433
Responses Validated*
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DATE

JULY 2020

TABLES

96

PAGES

443

EDITION

8

PRICE

USD $4950


The global market for Predictive Maintenance is projected to reach US$10 billion by 2025, driven by the growing value of predictive intelligence in asset management. Given that effective plant asset management and maintenance is the cornerstone for achieving excellence in manufacturing productivity, there is significant focus shed on technologies that help in more smart and efficient asset monitoring and maintenance. Legacy maintenance programs which are primarily static in nature and characterized by time-based manual inspection are growing out of favor and are being replaced by newer concepts such as predictive maintenance (PdM). Defined as a strategy where maintenance is scheduled at a future date based on analysis of sensor data measurements, PdM is proactive and is designed to increase reliability of machine and decrease their downtime. PdM is an advanced form of maintenance that offers benefits over and above condition-based maintenance (CbM) which utilizes real-time sensor measurements to identify if a machine or its components have reached a point of failure and then schedule maintenance. Benefits of PdM include advanced prediction of maintenance need; reduces unexpected downtime by over 50%; enables automation of maintenance tasks and reduces repair and overhaul time by 60%; helps in cost savings to the tune of 30% to 40%; timely verification/inspection of equipment; reduction in machine failures; reduction in maintenance costs; over 30% reduced need to maintain inventory of spare parts; extended service life of machines and components and higher equipment ROI; increase in production productivity by over 25% and uptime by 30%; improved operator safety; and over 50% increase in revenues achieved via faster time-to-market. Higher revenues and profits are also associated with improved product quality and reduced risk of manufacturing faults which pushes up the cost of reprocessing.

IoT brings whole new value to predictive analytics in ways hitherto unimagined by making data more readily available and accessible. An efficient IIoT predictive maintenance architecture involves identifying key variables which determine the health of equipment i.e. temperature, voltage, discharge, lubricating oil viscosity. Condition monitoring sensors are then added to the equipment to gather continuous data pertinent to the parameters identified and relay the same via internet to the cloud server. Sensor data passing onto the cloud need to filtered and reprocessed by physical devices called "field gateways". Once filtered and reprocessed, a cloud gateway validates the data for security threats and then provides access to the cloud where the data is pushed to a streaming data processor which accelerates the data's journey to the storage component called the "data lake". From the data lake, the sensor data in its raw unstructured form then moves to the "big data warehouse", where the data is cleaned, cleansed and prepared for analysis by machine learning (ML) algorithms. ML algorithms then process the data to uncover hidden correlations in data sets to discover data patterns and anomalies. Predictive models are then built and with AI are trained to predict problems and failure with exploratory analytics that uses various technical assumptions to make a prediction. The United States and Europe represent large markets worldwide with a combined share of 58.4% of the market. China ranks as the fastest growing market with a CAGR of 31.5% over the analysis period supported by the country's powerful economic planning aimed at enhancing its manufacturing competitiveness as it seeks to integrate into the global manufacturing chain dominated by industrialized economies such as EU, Germany and the United States and move from being a low cost competitor to a direct added-value competitor. At the top of the priority list for China is the migration from a low value added export oriented manufacturing platform to a global industrial power.
Bosch Software Innovations GmbH; C3 Iot; Dell Technologies; Fluke Corporation; General Electric Company; Hitachi Ltd.; Honeywell International, Inc.; IBM Corporation; PTC, Inc.; Rapidminer, Inc.; Rockwell Automation, Inc.; SAP SE; SAS Institute, Inc.; Schneider Electric SA; Senseye Ltd; SKF Group; Software AG; Softweb Solutions, Inc.; T-Systems International GmbH; Warwick Analytics
» Component (Solutions, Services) » Deployment (Cloud, On-Premise) » Vertical (Government & Defense, Energy & Utilities, Manufacturing, Healthcare, Transportation & Logistics, Other Verticals)
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » and Rest of Europe » Asia-Pacific » Rest of World

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05
1. MARKET OVERVIEW
Plant Asset Maintenance, the Cornerstone for Achieving Excellence in Manufacturing Productivity
Why Migrate to Predictive Maintenance? Whats In It for Companies?
Table: With Manufacturing Competitiveness Increasing by the Day, PdM is the Right Step Forward Towards to Higher Value, Smart Manufacturing: Global Manufacturing Competitiveness Index (10-100 Index Score) by Country for the Year 2020
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
ABB Limited (Switzerland)
Asystom (France)
Augury (USA)
C3 IoT (USA)
Emerson Electric Co. (USA)
GE Digital (US)
Operational Excellence (OPEX) Group Ltd, (UK)
PTC, Inc. (US)
Rapidminer (USA)
Robert Bosch GmbH (Germany)
Rockwell Automation, Inc. (US)
SAP SE (Germany)
SAS Institute, Inc. (US)
Schneider Electric (France)
Siemens AG (Germany)
Sigma Industrial Precision (Spain)
SparkCognition (USA)
T-Systems International GmbH (Germany)
Thales Group (France)
3. MARKET TRENDS & DRIVERS
The Rise of Predictive Analytics Brings the Concept of Predictive Maintenance to Fruition
Table: Applications of Predictive Analytics Expand from Fraud Detection, Personalized Marketing to Asset Management: Global Investments in Predictive Analytics (In US$ Billion) for the Years 2016, 2018, 2020, 2022
Industry 4.0 Pushes Up the Effectiveness of Predictive Maintenance
TABLE: Market to Witness Unconventional Growth as Effectiveness of Predictive Analytics in Predicting Failure & Maintenance Event Improves on the Back of IIoT: Global Breakdown of Investments in Manufacturing IoT (in US$ Billion) for the Years 2016, 2018, 2020
Sensors Remain a Critical Component of Predictive Maintenance
Data Communication Systems, the Backbone for Successful Predictive Maintenance
AI to Revolutionize Predictive Maintenance
Table: Growing Investments in AI by Manufacturing Companies Will Promote Innovative Uses of AI in Machine Condition Monitoring: Global AI Investments in Manufacturing (In US$ Billion) for the Years 2019, 2022 and 2025
AI Embedded Sensors Vital for Real-Time Fault Detection & Outsmarting Failure
Enabled by AI, Predictive Maintenance Sensors are the Future of Maintenance
Harnessing the Power of Cloud Computing Remains Crucial for Effective Predictive Maintenance
Predictive Maintenance for Medical Devices Grows in Popularity as Hospitals Focus on Enhancing Asset Efficiency
Predictive Maintenance Lies at the Heart of Smart Fleet Management
4. GLOBAL MARKET PERSPECTIVE
Predictive Maintenance Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027
Predictive Maintenance Market Share Shift across Key Geographies Worldwide: 2020 VS 2027
Cloud (Deployment) World Market by Region/Country in US$ Thousand: 2020 to 2027
Cloud (Deployment) Market Share Breakdown of Worldwide Sales by Region/Country: 2020 VS 2027
On-Premise (Deployment) Potential Growth Markets Worldwide in US$ Thousand: 2020 to 2027
On-Premise (Deployment) Market Sales Breakdown by Region/Country in Percentage: 2020 VS 2027
Solutions (Component) Geographic Market Spread Worldwide in US$ Thousand: 2020 to 2027
Solutions (Component) Market Share Distribution in Percentage by Region/Country: 2020 VS 2027
Services (Component) World Market Estimates and Forecasts by Region/Country in US$ Thousand: 2020 to 2027
Services (Component) Market Share Breakdown by Region/Country: 2020 VS 2027
Government & Defense (Vertical) Worldwide Latent Demand Forecasts in US$ Thousand by Region/Country: 2020-2027
Government & Defense (Vertical) Distribution of Global Sales by Region/Country: 2020 VS 2027
Energy & Utilities (Vertical) Sales Estimates and Forecasts in US$ Thousand by Region/Country for the Years 2020 through 2027
Energy & Utilities (Vertical) Global Market Share Distribution by Region/Country for 2020 and 2027
Manufacturing (Vertical) Global Opportunity Assessment in US$ Thousand by Region/Country: 2020-2027
Manufacturing (Vertical) Percentage Share Breakdown of Global Sales by Region/Country: 2020 VS 2027
Healthcare (Vertical) Worldwide Sales in US$ Thousand by Region/Country: 2020-2027
Healthcare (Vertical) Market Share Shift across Key Geographies: 2020 VS 2027
Transportation & Logistics (Vertical) Global Market Estimates & Forecasts in US$ Thousand by Region/Country: 2020-2027
Transportation & Logistics (Vertical) Market Share Breakdown by Region/Country: 2020 VS 2027
Other Verticals (Vertical) Demand Potential Worldwide in US$ Thousand by Region/Country: 2020-2027
Other Verticals (Vertical) Share Breakdown Review by Region/Country: 2020 VS 2027
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Predictive Maintenance Market in US$ Thousand in the United States by Deployment: 2020-2027
United States Predictive Maintenance Market Share Breakdown by Deployment: 2020 VS 2027
United States Predictive Maintenance Market Estimates and Projections in US$ Thousand by Component: 2020 to 2027
United States Predictive Maintenance Market Share Breakdown by Component: 2020 VS 2027
United States Predictive Maintenance Latent Demand Forecasts in US$ Thousand by Vertical: 2020 to 2027
Predictive Maintenance Market Share Breakdown in the United States by Vertical: 2020 VS 2027
CANADA
Predictive Maintenance Market Analysis in Canada in US$ Thousand by Deployment: 2020-2027
Canadian Predictive Maintenance Market Share Breakdown by Deployment: 2020 VS 2027
Canadian Predictive Maintenance Market Estimates and Forecasts in US$ Thousand by Component: 2020 to 2027
Predictive Maintenance Market in Canada: Percentage Share Breakdown of Sales by Component for 2020 and 2027
Canadian Predictive Maintenance Market Quantitative Demand Analysis in US$ Thousand by Vertical: 2020 to 2027
Canadian Predictive Maintenance Market Share Analysis by Vertical: 2020 VS 2027
JAPAN
Japanese Medium & Long-Term Outlook for Predictive Maintenance Market in US$ Thousand by Deployment: 2020-2027
Japanese Predictive Maintenance Market Percentage Share Distribution by Deployment: 2020 VS 2027
Japanese Market for Predictive Maintenance: Annual Sales Estimates and Projections in US$ Thousand by Component for the Period 2020-2027
Japanese Predictive Maintenance Market Share Analysis by Component: 2020 VS 2027
Japanese Demand Estimates and Forecasts for Predictive Maintenance in US$ Thousand by Vertical: 2020 to 2027
Predictive Maintenance Market Share Shift in Japan by Vertical: 2020 VS 2027
CHINA
Predictive Maintenance Market Estimates and Forecasts in China in US$ Thousand by Deployment: 2020-2027
Predictive Maintenance Market in China: Percentage Share Analysis by Deployment for 2020 and 2027
Chinese Predictive Maintenance Market Growth Prospects in US$ Thousand by Component for the Period 2020-2027
Chinese Predictive Maintenance Market by Component: Percentage Breakdown of Sales for 2020 and 2027
Chinese Demand for Predictive Maintenance in US$ Thousand by Vertical: 2020 to 2027
Chinese Predictive Maintenance Market Share Breakdown by Vertical: 2020 VS 2027
EUROPE
European Predictive Maintenance Market Demand Scenario in US$ Thousand by Region/Country: 2018-2025
European Predictive Maintenance Market Share Shift by Region/Country: 2020 VS 2027
European Predictive Maintenance Market Assessment in US$ Thousand by Deployment: 2020-2027
Predictive Maintenance Market in Europe: Percentage Breakdown of Sales by Deployment for 2020 and 2027
European Predictive Maintenance Market Estimates and Forecasts in US$ Thousand by Component: 2020-2027
European Predictive Maintenance Market Share Breakdown by Component: 2020 VS 2027
European Predictive Maintenance Addressable Market Opportunity in US$ Thousand by Vertical: 2020-2027
European Predictive Maintenance Market Share Analysis by Vertical: 2020 VS 2027
FRANCE
French Predictive Maintenance Market Estimates and Projections in US$ Thousand by Deployment: 2020-2027
French Predictive Maintenance Market Share Breakdown by Deployment: 2020 VS 2027
Predictive Maintenance Market in France by Component: Estimates and Projections in US$ Thousand for the Period 2020-2027
French Predictive Maintenance Market Share Analysis by Component: 2020 VS 2027
Predictive Maintenance Quantitative Demand Analysis in France in US$ Thousand by Vertical: 2020-2027
French Predictive Maintenance Market Share Analysis: A 7-Year Perspective by Vertical for 2020 and 2027
GERMANY
German Predictive Maintenance Latent Demand Forecasts in US$ Thousand by Deployment: 2020-2027
German Predictive Maintenance Market Share Breakdown by Deployment: 2020 VS 2027
Predictive Maintenance Market in Germany: Recent Past, Current and Future Analysis in US$ Thousand by Component for the Period 2020-2027
German Predictive Maintenance Market Share Breakdown by Component: 2020 VS 2027
Predictive Maintenance Market in Germany: Annual Sales Estimates and Forecasts in US$ Thousand by Vertical for the Period 2020-2027
Predictive Maintenance Market Share Distribution in Germany by Vertical: 2020 VS 2027
ITALY
Predictive Maintenance Market Estimates and Forecasts in Italy in US$ Thousand by Deployment: 2020-2027
Predictive Maintenance Market in Italy: Percentage Share Analysis by Deployment for 2020 and 2027
Italian Predictive Maintenance Market Growth Prospects in US$ Thousand by Component for the Period 2020-2027
Italian Predictive Maintenance Market by Component: Percentage Breakdown of Sales for 2020 and 2027
Italian Demand for Predictive Maintenance in US$ Thousand by Vertical: 2020 to 2027
Italian Predictive Maintenance Market Share Breakdown by Vertical: 2020 VS 2027
UNITED KINGDOM
United Kingdom Medium & Long-Term Outlook for Predictive Maintenance Market in US$ Thousand by Deployment: 2020-2027
United Kingdom Predictive Maintenance Market Percentage Share Distribution by Deployment: 2020 VS 2027
United Kingdom Market for Predictive Maintenance: Annual Sales Estimates and Projections in US$ Thousand by Component for the Period 2020-2027
United Kingdom Predictive Maintenance Market Share Analysis by Component: 2020 VS 2027
United Kingdom Demand Estimates and Forecasts for Predictive Maintenance in US$ Thousand by Vertical: 2020 to 2027
Predictive Maintenance Market Share Shift in the United Kingdom by Vertical: 2020 VS 2027
REST OF EUROPE
Rest of Europe Predictive Maintenance Market Assessment in US$ Thousand by Deployment: 2020-2027
Predictive Maintenance Market in Rest of Europe: Percentage Breakdown of Sales by Deployment for 2020 and 2027
Rest of Europe Predictive Maintenance Market Estimates and Forecasts in US$ Thousand by Component: 2020-2027
Rest of Europe Predictive Maintenance Market Share Breakdown by Component: 2020 VS 2027
Rest of Europe Predictive Maintenance Addressable Market Opportunity in US$ Thousand by Vertical: 2020-2027
Rest of Europe Predictive Maintenance Market Share Analysis by Vertical: 2020 VS 2027
ASIA-PACIFIC
Asia-Pacific Predictive Maintenance Market Estimates and Projections in US$ Thousand by Deployment: 2020-2027
Asia-Pacific Predictive Maintenance Historic Market Analysis in US$ Thousand by Deployment: 2020 VS 2027
Predictive Maintenance Market in Asia-Pacific by Component: Estimates and Projections in US$ Thousand for the Period 2020-2027
Asia-Pacific Predictive Maintenance Market Share Analysis by Component: 2020 VS 2027
Predictive Maintenance Quantitative Demand Analysis in Asia-Pacific in US$ Thousand by Vertical: 2020-2027
Asia-Pacific Predictive Maintenance Market Share Analysis: A 7-Year Perspective by Vertical for 2020 and 2027
REST OF WORLD
Predictive Maintenance Market Analysis in Rest of World in US$ Thousand by Deployment: 2020-2027
Rest of World Predictive Maintenance Market Share Breakdown by Deployment: 2020 VS 2027
Rest of World Predictive Maintenance Market Estimates and Forecasts in US$ Thousand by Component: 2020 to 2027
Predictive Maintenance Market in Rest of World: Percentage Share Breakdown of Sales by Component for 2020 and 2027
Rest of World Predictive Maintenance Market Quantitative Demand Analysis in US$ Thousand by Vertical: 2020 to 2027
Rest of World Predictive Maintenance Market Share Analysis by Vertical: 2020 VS 2027
Total Companies Profiled : 58

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