The Global Predictive Maintenance Market size was valued at $4.45 billion in 2020, and is
projected to reach $64.25 billion by 2030, growing at a CAGR of 31.0% from 2021 to 2030.
Predictive maintenance software is used to monitor the performance and condition of any
equipment or machine while operating them. The software observes the equipment using
advanced techniques that enables the maintenance of the machinery to be scheduled before
any failure occurs. Predictive maintenance software has found its application in various fields
like finding three-phase power imbalances from harmonic distortion, identifying motor
amperage spikes, overheating from bad bearings, insulation breakdowns and locating
potential overloads or degradation in electrical panels.
Market Segmentations and Scope of the Study:
The global predictive maintenance market is segmented into component, deployment model,
technique, stakeholder, industry vertical, and region. Based on component, it is bifurcated into
solution and service. According to deployment, the market is classified into cloud and on-
premise segments. Further, based on technique the market is divided into vibration monitoring,
electrical testing, oil analysis, ultrasonic leak detectors, shock pulse, infrared, and others.
Based on stakeholder, the predictive maintenance market is segmented into MRO,
OEM/ODM, and technology integrators. Based on industry vertical, it is classified into
manufacturing, energy & utilities, aerospace & defense, transportation & logistics,
government, and others. Based on region, it is analyzed across North America, Europe, Asia-
Pacific, and rest of the world (RoW).
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North America dominates the global predictive maintenance market, followed by Europe. This
is due to the underlying factors like the presence of large number of service vendors,
technological advancements and better awareness about predictive mainte