MarkWide Research

Sale!

Predictive Manintenance Software Market

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

The predictive maintenance software market is expected to grow at a CAGR of around 20% between 2019 and 2024. The increasing demand for predictive analytics in industrial and commercial applications, as well as the need for effective asset management, are the primary market drivers.

Predictive maintenance software is a type of application that predicts when equipment will fail based on historical data and analytics. This data can then be used to plan maintenance and repairs, reducing downtime and increasing equipment uptime.

Manufacturing, healthcare, transportation, and energy are all industries that use predictive maintenance software. Because of the need to minimise downtime and maximise productivity, the manufacturing sector is the largest user of predictive maintenance software.

Another major user of predictive maintenance software is the healthcare industry, where it is critical to keep equipment in good working order to ensure patient safety.

The transportation industry also makes extensive use of predictive maintenance software, as it is critical to keep vehicles in good working order in order to avoid accidents and delays.

Another major user of predictive maintenance software is the energy sector, where it is critical to keep equipment in good working order to avoid power outages and maximise efficiency.

The global predictive maintenance software market is expected to grow at a CAGR of around 20% between 2019 and 2024.

The increasing demand for predictive analytics in industrial and commercial applications, as well as the need for effective asset management, are the primary market drivers.

Predictive maintenance software is a type of application that predicts when equipment will fail based on historical data and analytics. This data can then be used to plan maintenance and repairs, reducing downtime and increasing equipment uptime.

Manufacturing, healthcare, transportation, and energy are all industries that use predictive maintenance software. Because of the need to minimise downtime and maximise productivity, the manufacturing sector is the largest user of predictive maintenance software.

Another major user of predictive maintenance software is the healthcare industry, where it is critical to keep equipment in good working order to ensure patient safety.

The transportation industry also makes extensive use of predictive maintenance software, as it is critical to keep vehicles in good working order.

Drivers and Restrictions in the Global Predictive Maintenance Software Market
Because of the advantages that predictive maintenance has over traditional maintenance methods, the global market for predictive maintenance software is expanding rapidly. Predictive maintenance is the process of monitoring the condition of equipment and predicting when it will require maintenance. This helps to reduce downtime and keep equipment in good condition. The rising demand for predictive maintenance from various industries such as manufacturing, automotive, oil & gas, aerospace, and others is driving the predictive maintenance software market.

Predictive maintenance software offers numerous advantages, including early fault detection, downtime prevention, and cost savings. It helps reduce equipment downtime by forecasting maintenance times. Predictive maintenance software also aids in the early detection of flaws and their resolution before they become major issues. This contributes to lower repair and replacement costs. The maintenance schedule is also optimised using predictive maintenance software.

The high cost of implementation limits the global predictive maintenance software market. Predictive maintenance software necessitates data from a variety of sources, including sensors, SCADA systems, and others. Predictive algorithms must be used to process and analyse this data. This necessitates skilled labour and a significant initial investment.

Key Regions in the Global Predictive Maintenance Software Market
During the forecast period, the global predictive maintenance software market is expected to grow at a CAGR of more than 18%. The growing need to improve operational efficiency and reduce equipment downtime is the primary factor driving market growth.

Because of the region’s increasing adoption of Industry 4.0 technologies, the North American region is expected to hold the largest market share in the global predictive maintenance software market. Because of the region’s expanding manufacturing sector, the Asia-Pacific region is expected to be the fastest-growing region in the global predictive maintenance software market.

PTC, Inc., IBM Corporation, SAP SE, Oracle Corporation, Microsoft Corporation, Hitachi, Ltd., ABB Ltd., Honeywell International, Inc., and General Electric Company are the key players in the global predictive maintenance software market.

Key Vendors in the Global Predictive Maintenance Software Market
During the forecast period of 2020–2025, the global market for predictive maintenance software is expected to grow at a CAGR of around 13%.

The need for predictive analytics in various industrial applications as well as the high return on investment (ROI) offered by predictive maintenance are the major driving factors of the predictive maintenance software market.

Predictive maintenance is a type of condition-based maintenance in which maintenance activities are carried out based on the actual condition of the equipment rather than on predetermined time intervals.

Predictive maintenance software analyses data collected from various pieces of equipment to identify patterns and trends that may indicate an impending failure.

This data is then used to plan maintenance activities, allowing the equipment to be repaired or replaced before it fails.

Manufacturing, automotive, aerospace, healthcare, and other industries all use predictive maintenance software.

IBM Corporation, General Electric Company, SAS Institute Inc., SAP SE, and Microsoft Corporation are some of the key players in the global predictive maintenance software market.

Predictive maintenance software is widely used in the manufacturing industry.

Another major user of predictive maintenance software is the automotive industry.

In the automotive industry, predictive maintenance software is used to monitor the condition of vehicles and their components so that maintenance activities can be carried out before any problems arise.

Another major user of predictive maintenance software is the healthcare industry.

In the healthcare industry, predictive maintenance software is used to monitor the condition of medical equipment and schedule maintenance activities accordingly.

The global predictive maintenance software market is divided into four sections: deployment type, organisation size, industry vertical, and region.

The global predictive maintenance software market is divided into two segments based on deployment type: on-premises and cloud.

During the forecast period, the cloud segment is expected to grow at the fastest CAGR.

The cloud deployment model provides several advantages, including scalability, flexibility, and lower IT infrastructure costs.

On-premises deployment necessitates a significant upfront investment and is difficult to implement.

End-User Analysis of the Global Predictive Maintenance Software Market
The global predictive maintenance software market is expected to grow at a CAGR of 10.1% between 2019 and 2027. The rising demand for predictive maintenance across various industry verticals is the primary factor driving market growth.

Predictive maintenance is a type of condition-based maintenance in which equipment conditions such as vibration, temperature, sound, and pressure are determined. It assists in identifying equipment issues before they occur and also provides real-time monitoring of the equipment to avoid downtime. Predictive maintenance software is used to track the performance of equipment and generate predictive models for equipment maintenance.

One of the major trends observed in the global predictive maintenance software market is the increasing demand for Industry 4.0 adoption. The fourth industrial revolution is known as “Industry 4.0,” and it is based on the concepts of cyber-physical systems, the Internet of Things (IoT), and cloud computing. Industry 4.0 promotes the integration of physical and digital technologies in order to increase the efficiency of the manufacturing process. The adoption of Industry 4.0 is expected to increase demand for predictive maintenance software because it helps reduce equipment downtime while also improving overall production efficiency.

The global predictive maintenance software market is divided into component, organisation size, deployment type, industry vertical, and region segments. The market is divided into two components: software and services. The software segment is expected to grow at a faster CAGR during the forecast period because software helps to reduce equipment downtime and improve operational efficiency.

The global predictive maintenance software market is divided into two segments based on organisation size: small and medium-sized enterprises and large enterprises. The large enterprises segment is expected to grow at a faster CAGR during the forecast period as large enterprises increasingly use predictive maintenance software to improve the efficiency of their manufacturing processes.

The global predictive maintenance software market is segmented into two deployment models: on-premises and cloud.Cloud computing is expected to grow at a faster rate.

Global Predictive Maintenance Software Market: Prospects for the Future
During the forecast period of 2020–2025, the global market for predictive maintenance software is expected to grow at a CAGR of around 22%.

Because of the increasing demand for predictive maintenance solutions across various industry verticals, the predictive maintenance software market is expected to grow significantly in the coming years. The growing need to reduce downtime and maintenance costs, the growing popularity of Industry 4.0 and the Internet of Things (IoT), and the increasing adoption of cloud-based predictive maintenance solutions are all driving the predictive maintenance software market.

The predictive maintenance software market is divided into component, deployment type, organisation size, industry vertical, and region segments.

The market for predictive maintenance software is divided into two components: software and services. During the forecast period, the software segment is expected to grow at a faster CAGR. One of the major factors driving the growth of the software segment is the increasing adoption of cloud-based predictive maintenance solutions.

On-premises and cloud deployments dominate the predictive maintenance software market.During the forecast period, the cloud segment is expected to grow at a faster CAGR. One of the major factors driving the growth of the cloud segment is the increasing demand for cloud-based predictive maintenance solutions.

The predictive maintenance software market is divided into two segments based on organisation size: small and medium-sized enterprises (SMEs) and large enterprises. During the forecast period, the SME segment is expected to grow at a faster CAGR. One of the major factors driving the growth of the SMEs segment is the increasing adoption of predictive maintenance solutions among SMEs.

The predictive maintenance software market is divided into five industry verticals: healthcare, manufacturing, oil and gas, transportation, and others. During the forecast period, the healthcare segment is expected to grow at the fastest CAGR. One of the major factors driving the growth of the healthcare segment is the growing need to reduce downtime and maintenance costs in the healthcare industry.

The predictive maintenance software market is divided into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America’s

The predictive maintenance software market is expected to grow at a CAGR of around 20% between 2019 and 2024. The increasing demand for predictive analytics in industrial and commercial applications, as well as the need for effective asset management, are the primary market drivers.

Predictive maintenance software is a type of application that predicts when equipment will fail based on historical data and analytics. This data can then be used to plan maintenance and repairs, reducing downtime and increasing equipment uptime.

Manufacturing, healthcare, transportation, and energy are all industries that use predictive maintenance software. Because of the need to minimise downtime and maximise productivity, the manufacturing sector is the largest user of predictive maintenance software.

Another major user of predictive maintenance software is the healthcare industry, where it is critical to keep equipment in good working order to ensure patient safety.

The transportation industry also makes extensive use of predictive maintenance software, as it is critical to keep vehicles in good working order in order to avoid accidents and delays.

Another major user of predictive maintenance software is the energy sector, where it is critical to keep equipment in good working order to avoid power outages and maximise efficiency.

The global predictive maintenance software market is expected to grow at a CAGR of around 20% between 2019 and 2024.

The increasing demand for predictive analytics in industrial and commercial applications, as well as the need for effective asset management, are the primary market drivers.

Predictive maintenance software is a type of application that predicts when equipment will fail based on historical data and analytics. This data can then be used to plan maintenance and repairs, reducing downtime and increasing equipment uptime.

Manufacturing, healthcare, transportation, and energy are all industries that use predictive maintenance software. Because of the need to minimise downtime and maximise productivity, the manufacturing sector is the largest user of predictive maintenance software.

Another major user of predictive maintenance software is the healthcare industry, where it is critical to keep equipment in good working order to ensure patient safety.

The transportation industry also makes extensive use of predictive maintenance software, as it is critical to keep vehicles in good working order.

Drivers and Restrictions in the Global Predictive Maintenance Software Market
Because of the advantages that predictive maintenance has over traditional maintenance methods, the global market for predictive maintenance software is expanding rapidly. Predictive maintenance is the process of monitoring the condition of equipment and predicting when it will require maintenance. This helps to reduce downtime and keep equipment in good condition. The rising demand for predictive maintenance from various industries such as manufacturing, automotive, oil & gas, aerospace, and others is driving the predictive maintenance software market.

Predictive maintenance software offers numerous advantages, including early fault detection, downtime prevention, and cost savings. It helps reduce equipment downtime by forecasting maintenance times. Predictive maintenance software also aids in the early detection of flaws and their resolution before they become major issues. This contributes to lower repair and replacement costs. The maintenance schedule is also optimised using predictive maintenance software.

The high cost of implementation limits the global predictive maintenance software market. Predictive maintenance software necessitates data from a variety of sources, including sensors, SCADA systems, and others. Predictive algorithms must be used to process and analyse this data. This necessitates skilled labour and a significant initial investment.

Key Regions in the Global Predictive Maintenance Software Market
During the forecast period, the global predictive maintenance software market is expected to grow at a CAGR of more than 18%. The growing need to improve operational efficiency and reduce equipment downtime is the primary factor driving market growth.

Because of the region’s increasing adoption of Industry 4.0 technologies, the North American region is expected to hold the largest market share in the global predictive maintenance software market. Because of the region’s expanding manufacturing sector, the Asia-Pacific region is expected to be the fastest-growing region in the global predictive maintenance software market.

PTC, Inc., IBM Corporation, SAP SE, Oracle Corporation, Microsoft Corporation, Hitachi, Ltd., ABB Ltd., Honeywell International, Inc., and General Electric Company are the key players in the global predictive maintenance software market.

Key Vendors in the Global Predictive Maintenance Software Market
During the forecast period of 2020–2025, the global market for predictive maintenance software is expected to grow at a CAGR of around 13%.

The need for predictive analytics in various industrial applications as well as the high return on investment (ROI) offered by predictive maintenance are the major driving factors of the predictive maintenance software market.

Predictive maintenance is a type of condition-based maintenance in which maintenance activities are carried out based on the actual condition of the equipment rather than on predetermined time intervals.

Predictive maintenance software analyses data collected from various pieces of equipment to identify patterns and trends that may indicate an impending failure.

This data is then used to plan maintenance activities, allowing the equipment to be repaired or replaced before it fails.

Manufacturing, automotive, aerospace, healthcare, and other industries all use predictive maintenance software.

IBM Corporation, General Electric Company, SAS Institute Inc., SAP SE, and Microsoft Corporation are some of the key players in the global predictive maintenance software market.

Predictive maintenance software is widely used in the manufacturing industry.

Another major user of predictive maintenance software is the automotive industry.

In the automotive industry, predictive maintenance software is used to monitor the condition of vehicles and their components so that maintenance activities can be carried out before any problems arise.

Another major user of predictive maintenance software is the healthcare industry.

In the healthcare industry, predictive maintenance software is used to monitor the condition of medical equipment and schedule maintenance activities accordingly.

The global predictive maintenance software market is divided into four sections: deployment type, organisation size, industry vertical, and region.

The global predictive maintenance software market is divided into two segments based on deployment type: on-premises and cloud.

During the forecast period, the cloud segment is expected to grow at the fastest CAGR.

The cloud deployment model provides several advantages, including scalability, flexibility, and lower IT infrastructure costs.

On-premises deployment necessitates a significant upfront investment and is difficult to implement.

End-User Analysis of the Global Predictive Maintenance Software Market
The global predictive maintenance software market is expected to grow at a CAGR of 10.1% between 2019 and 2027. The rising demand for predictive maintenance across various industry verticals is the primary factor driving market growth.

Predictive maintenance is a type of condition-based maintenance in which equipment conditions such as vibration, temperature, sound, and pressure are determined. It assists in identifying equipment issues before they occur and also provides real-time monitoring of the equipment to avoid downtime. Predictive maintenance software is used to track the performance of equipment and generate predictive models for equipment maintenance.

One of the major trends observed in the global predictive maintenance software market is the increasing demand for Industry 4.0 adoption. The fourth industrial revolution is known as “Industry 4.0,” and it is based on the concepts of cyber-physical systems, the Internet of Things (IoT), and cloud computing. Industry 4.0 promotes the integration of physical and digital technologies in order to increase the efficiency of the manufacturing process. The adoption of Industry 4.0 is expected to increase demand for predictive maintenance software because it helps reduce equipment downtime while also improving overall production efficiency.

The global predictive maintenance software market is divided into component, organisation size, deployment type, industry vertical, and region segments. The market is divided into two components: software and services. The software segment is expected to grow at a faster CAGR during the forecast period because software helps to reduce equipment downtime and improve operational efficiency.

The global predictive maintenance software market is divided into two segments based on organisation size: small and medium-sized enterprises and large enterprises. The large enterprises segment is expected to grow at a faster CAGR during the forecast period as large enterprises increasingly use predictive maintenance software to improve the efficiency of their manufacturing processes.

The global predictive maintenance software market is segmented into two deployment models: on-premises and cloud.Cloud computing is expected to grow at a faster rate.

Global Predictive Maintenance Software Market: Prospects for the Future
During the forecast period of 2020–2025, the global market for predictive maintenance software is expected to grow at a CAGR of around 22%.

Because of the increasing demand for predictive maintenance solutions across various industry verticals, the predictive maintenance software market is expected to grow significantly in the coming years. The growing need to reduce downtime and maintenance costs, the growing popularity of Industry 4.0 and the Internet of Things (IoT), and the increasing adoption of cloud-based predictive maintenance solutions are all driving the predictive maintenance software market.

The predictive maintenance software market is divided into component, deployment type, organisation size, industry vertical, and region segments.

The market for predictive maintenance software is divided into two components: software and services. During the forecast period, the software segment is expected to grow at a faster CAGR. One of the major factors driving the growth of the software segment is the increasing adoption of cloud-based predictive maintenance solutions.

On-premises and cloud deployments dominate the predictive maintenance software market.During the forecast period, the cloud segment is expected to grow at a faster CAGR. One of the major factors driving the growth of the cloud segment is the increasing demand for cloud-based predictive maintenance solutions.

The predictive maintenance software market is divided into two segments based on organisation size: small and medium-sized enterprises (SMEs) and large enterprises. During the forecast period, the SME segment is expected to grow at a faster CAGR. One of the major factors driving the growth of the SMEs segment is the increasing adoption of predictive maintenance solutions among SMEs.

The predictive maintenance software market is divided into five industry verticals: healthcare, manufacturing, oil and gas, transportation, and others. During the forecast period, the healthcare segment is expected to grow at the fastest CAGR. One of the major factors driving the growth of the healthcare segment is the growing need to reduce downtime and maintenance costs in the healthcare industry.

The predictive maintenance software market is divided into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America’s

ATTRIBUTE

 

  DETAILS
 

By Deployment

 

 

 

 

    • On-Premise

 

    • Cloud

 

 

 

By Organization Size

 

 

    • Large Enterprises

 

    • Small and Medium Enterprises (SMEs)

 

 

 

By Application

 

 

    • Manufacturing

 

    • Government

 

    • Energy and Utilities

 

    • Transportation

 

    • Healthcare

 

    • Aerospace and DEfense

 

    • Others

 

 

Baker Hughes Group, Pegasystems Inc., Software AG, eMaint by Fluke Corporation, Totalmobile Ltd., AVEVA Group plc, SAP SE, Wipro Limited, SenseGrow Inc., MicroMain Corp., Robert Bosch GmbH  PTC, Inc., General Electric Company, IBM Corporation, Rockwell Automation Inc., SAS Institute Inc, eMaint Enterprises LLC, Schneider Electric SE, Software AG

Why Choose MWR

Quality Research

Our goal is to provide high-quality data that stimulates growth and creates a win-win situations

Unlimited User Access 

We offer Corporate User license access on all our reports in which you can share the report with your entire team without any restrictions

Free Company Inclusion 

We give you an option to include 3-4 additional company players of your choice in our report without any extra charges

Post Sale Assistance

Unlimited post sales service with an account manager dedicated to making sure that all your needs are met

Covid-19 Impact Analysis

All our research report includes latest Covid-19 Impact and its analysis

Download Free Sample PDF

444 Alaska Avenue

Suite #BAA205 Torrance, CA 90503 USA

+1 424 360 2221

24/7 Customer Support

Download Free Sample PDF