The global predictive maintenance market size reached US$ 8.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 35.9 Billion by 2028, exhibiting a growth rate (CAGR) of 27.54% during 2023-2028. The growing utilization of machine-to-machine (M2M) communication, increasing investment in extending the lifespan of various aging industrial machinery, and rising integration with remote monitoring to conduct advanced inspections represent some of the key factors driving the market.

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Author: Elena Anderson,
Marketing Manager |
IMARC Group
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Predictive Maintenance Market Report 2023 By Component, Technique, Deployment
Type, Organization Size and Industry Vertical Key Regions and Competitive Landscape

2. Report Description
About IMARC Group
The International Market Analysis Research and Consulting Group is a leading adviser on
management strategy and market research worldwide. We partner with clients in all sectors
and regions to identify their highest-value opportunities, address their most critical
challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological
developments for business leaders in pharmaceutical, industrial, and high technology
organizations. Market forecasts and industry analysis for biotechnology, advanced materials,
chemicals, food and beverage, travel and tourism, nanotechnology and novel processing
methods are at the top of the company’s expertise.
IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and
markets with close cooperation at all levels of the client organization. This ensures that our
clients achieve unmatchable competitive advantage, build more proficient organizations, and
secure lasting results.

3. Report Description
Report Description and Highlights
Global Predictive Maintenance Market Outlook 2023-2028:
The global predictive maintenance market size reached US$ 8.0 Billion in 2022. Looking forward,
IMARC Group expects the market to reach US$ 35.9 Billion by 2028, exhibiting a growth rate (CAGR) of
27.54% during 2023-2028.
Predictive maintenance is a maintenance strategy that uses data analysis and machine learning (ML)
techniques to predict equipment failure and maintenance requirements.
It aids in reducing unplanned downtime and extending equipment life. It also assists in improving
equipment reliability by reducing the frequency and duration of equipment downtime.
As a result, predictive maintenance is widely employed in numerous industries, including
manufacturing, energy and utilities, aerospace and defense, transportation and logistics, government,
and healthcare, across the globe.

4. Report Description
Report Description and Highlights
Global Predictive Maintenance Market Trends:
The market is primarily driven by the increasing utilization of machine-to-machine (M2M)
communication and cloud technology to investigate the information derived from industrial assets. In
addition, the rising adoption of the Internet of things (IoT), artificial intelligence (AI), cloud computing,
and machine learning (ML) for analyzing crucial data represents another growth-inducing factor.
Furthermore, the growing applications of predictive maintenance in tomography, mammography, and
X-ray, to enhance operational efficiencies and decision-making capabilities are propelling the market
growth.
Moreover, the rising investments in predictive maintenance, owning to its ability to predict equipment
failure and extend the lifespan of industrial machinery, are also creating a positive market outlook
across the globe.
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5. Market Summary:
Breakup by Component:
• Solution
• Service
Breakup by Technique:
• Vibration Monitoring
• Electrical Testing
• Oil Analysis
• Ultrasonic Leak Detectors
• Shock Pulse
• Infrared
• Others
Report Description
Report Description and Highlights

6. Breakup by Industry Vertical:
• Manufacturing
• Energy and Utilities
• Aerospace and Defense
• Transportation and Logistics
• Government
• Healthcare
• Others
Breakup by Organization Size:
• Small and Medium-sized Enterprises
• Large Enterprises
Report Description
Report Description and Highlights

7. Breakup by Deployment Type:
• Cloud-based
• On-premises
Breakup by Region:
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
On account of the aforementioned factors, the market is anticipated to witness strong growth during
2023-2028.
Report Description
Report Description and Highlights

8. Competitive Landscape With Key player:
• Asystom
• C3.ai Inc.
• General Electric Company
• Google LLC (Alphabet Inc.)
• Hitachi Ltd.
• International Business Machines Corporation
• Microsoft Corporation
• PTC Inc.
• SAP SE
• Software AG
• Tibco Software Inc.
• Uptake Technologies Inc.
View Report TOC, Figures and Tables: https://www.imarcgroup.com/predictive-maintenance-market
Report Description
Report Description and Highlights

9. A partial List of our Clients
We are the trusted business partners to the
world's leading corporates, governments, and
institutions
Partial List of Clients

10. A partial List of our Clients
We are the trusted business partners to the
world's leading corporates, governments, and
institutions
Partial List of Clients

11. Report Description
Report Description and Highlights
© 2019 IMARC All Rights Reserved
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Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been
based on information and sources believed to be accurate and reliable at the time of publishing.
International Market Analysis Research and Consulting makes no representation of warranty of any kind as to
the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any
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Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of
their respective companies.

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