Market Research Report
Global Operational Predictive Maintenance Market Forecast, 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||839595|
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|Global Operational Predictive Maintenance Market Forecast, 2019-2025|
|Published: May 9, 2019||Content info:||
Global Operational Predictive Maintenance Market Size, Share & Trends Analysis Report by Deployment Model (On-Premises and Cloud-based), and by Application (Manufacturing, Energy & Utilities, Transportation, and Others) and Forecast, 2019 - 2025
Operational predictive maintenance is referred to asset management practice of maintaining an asset before it fails on the basis of data received regarding it. The solution improves productivity, avoids downtime, and reduces the operational cost. It further assists the organizations in optimizing supply chain and operation management of products. The software can determine the condition of in-service components and equipment, in order to foresee the time for required maintenance.
Increasing demand for real-time streaming analytics from small and middle enterprises (SMEs) and a rapid transition towards cloud-based predictive maintenance solutions is significantly fueling the market growth. Moreover, the rising integration of advanced technologies such as big data, deep learning, and IoT in the maintenance software in organizations is anticipated to propel the market growth in the near future. Though, the aforementioned technologies have major implications in the developed economies of North America and Europe. However, the rising industrialization in emerging economies of Asia-Pacific is expected to adopt these technologies in the near future.
The global operational predictive maintenance market is further analyzed on the basis of geographical regions, including North America, Europe, Asia-Pacific, and Rest of the World. North America contributed a prominent share in the global operational predictive maintenance market in 2018, owing to the significant penetration of Industry 4.0 in the region. Moreover, the region is regarded as the major adopter of advanced technologies in their industrial sector, which in turn, is a major factor for the burgeoning adoption of these solutions and services in the region. Asia-Pacific is projected to witness the fastest growth rate, in terms of revenue in the global operational predictive maintenance market during the forecast period. This is attributed to growing government spending to improve hospitals and other healthcare facilities in China and India is marking a growth factor for the Asia-Pacific operational predictive maintenance market.
The players operating in the global operational predictive maintenance market include Accenture PLC, Cisco Systems, Inc., General Electric Co., Hitachi Consulting Corp., IBM Corp., Intel Corp., Microsoft Corp., SAP SE, SAS Institute Inc., Siemens AG, and Schneider Electric SE. The companies are focused on the development of innovative products for operational predictive maintenance market to stay competitive in the global market. Geographical expansion, merger & acquisition, partnerships & collaborations, finding a new market or innovate in their core competency in order to expand individual market share are some of the key strategies adopted by major market players.
The market study of the global operational predictive maintenance market is incorporated by extensive primary and secondary research conducted by a research team. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for ICT companies, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.