DUBLIN–(BUSINESS WIRE)–The “Operational Predictive Maintenance Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029” report has been added to ResearchAndMarkets.com’s offering.
The global operational predictive maintenance market is expected to grow at an anticipated CAGR of 26.16% for the forecast period 2019-2029.
Companies Mentioned
IBM
Microsoft
SAP
Hitachi
PTC
GE
Schneider Electric
Software AG
SAS
TIBCO
C3 IoT
Uptake
Softweb Solutions
Asystom
Ecolibrium Energy
Fiix Software
OPEX Group
Dingo
Sigma Industrial Precision
Oracle
HPE
AWS
Micro Focus
Splunk
Altair
RapidMiner
ReliaSol
Seebo
Adoption of New Technologies to Boost the Market, However, Human Skills Remain Irreplaceable
Around 35% of the total industries in US have already adopted IOT and are collecting data using sensors to enhance their manufacturing process. Global IOT market alone is growing at a CAGR of 42% (for year 2012-2022) which will likely spur the demand of operational predictive maintenance in the coming years. Furthermore, adoption of new technologies has led to development of new innovative products and services and will significantly contribute towards the growth of the market. However, deployment of these solution requires additional professional knowledge that requires training and which is currently far behind, this factor is hampering the growth in the market.
Predictive maintenance software is totally dependent upon both technology and human skills. In predictive maintenance, technician engineers and analysts all plays a major role to interpret the data and analyse it. Hence scarcity of skilled staff and lack of training provided to the operators is the major challenge faced by industries in adopting operational predictive maintenance. There are few other restraints aspects such barriers in adopting new technology and challenge faced by the conventional industry to implement operational predictive maintenance and to make it integral part of the manufacturing process, are obstructing the potential of global operational predictive maintenance market.
North America’s Takes the Lions Share, APAC to Evidence Highest Growth
On the basis of geography North America region holds the largest market share as it was always an early adopter of technologies and innovation; however, Asia Pacific region is likely to grow with the highest CAGR 27.2% in the forecast period, owing to the rapid development and industrialization in countries like China and India. Asia pacific is also being a favorable place for investors which are fuelling the growth in the market. Out of all the application industry healthcare is seems to be largely accepting the predictive maintenance solution in the coming years, and this is only because they just cannot afford to have any kind of break down in their regular process, as in can cost them with difficulties in saving human lives.
Key questions answered in this report
What are the key market segments in the current scenario and in the future by product categories?
What are the key market segments in the current scenario and in the future by regions?
What is the key impact of Covid-19 over market revenues and market determinants in the operational predictive maintenance market?
What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
How to overcome the current market challenges and leverage the opportunities in each of the market segments?
Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?
Key Topics Covered:
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Global Operational Predictive Maintenance Market by Component 2019-2029($ Million)
Chapter 4. Global Operational Predictive Maintenance Market by Deployment Type 2019-2029($ Million)
Chapter 5. Global Operational Predictive Maintenance Market by Application 2019-2029($ Million)
Chapter 6. North America Operational Predictive Maintenance Market 2019-2029($ Million)
Chapter 7. Europe Operational Predictive Maintenance Market 2019-2029($ Million)
Chapter 8. Asia Pacific Operational Predictive Maintenance Market 2019-2029($ Million)
Chapter 9. RoW Operational Predictive Maintenance Market 2019-2029($ Million)
Chapter 10. Company profiles
For more information about this report visit https://www.researchandmarkets.com/r/vkv909