PUBLISHER: The Business Research Company | PRODUCT CODE: 1760225
PUBLISHER: The Business Research Company | PRODUCT CODE: 1760225
Predictive maintenance software is a platform that leverages data analytics, machine learning, and sensor technologies to forecast when equipment or machinery may fail. It helps optimize maintenance schedules, minimize downtime, enhance operational efficiency, and reduce expensive repairs by identifying potential issues at an early stage.
The primary components of predictive maintenance software are software and services. The software component includes digital platforms and applications designed to gather, analyze, and interpret data from equipment and machinery to predict potential failures before they happen. It can be deployed in two main formats on-premises and cloud-based. The software caters to organizations of all sizes, including small and medium-sized enterprises (SMEs) and large enterprises. Key application areas include Asset Performance Management (APM) and Equipment Health Monitoring. It is used across various industry sectors, such as manufacturing, energy and utilities, transportation, healthcare, aerospace and defense, among others.
The predictive maintenance software market research report is one of a series of new reports from The Business Research Company that provides predictive maintenance software market statistics, including predictive maintenance software industry global market size, regional shares, competitors with a predictive maintenance software market share, detailed predictive maintenance software market segments, market trends and opportunities, and any further data you may need to thrive in the predictive maintenance software industry. This predictive maintenance software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The predictive maintenance software market size has grown exponentially in recent years. It will grow from $6.79 billion in 2024 to $8.49 billion in 2025 at a compound annual growth rate (CAGR) of 25.0%. The growth during the historical period can be attributed to several factors, including the rising costs of equipment downtime, the increase in industrial automation, the expansion of condition-based monitoring, a growing demand for asset reliability, and a shortage of skilled maintenance personnel.
The predictive maintenance software market size is expected to see exponential growth in the next few years. It will grow to $20.54 billion in 2029 at a compound annual growth rate (CAGR) of 24.7%. The growth during the forecast period can be attributed to the increasing focus on reducing operational costs, the rising adoption of the Internet of Things (IoT), greater emphasis on remote monitoring capabilities, a shift towards data-driven decision-making, and a growing focus on talent management. Key trends in the forecast period include advancements in artificial intelligence, integration with digital twin technology, innovations in machine learning algorithms, the development of edge computing solutions, and enhanced analytics capabilities.
The increasing adoption of cloud computing is expected to drive the growth of the predictive maintenance software market. Cloud computing delivers on-demand computing resources such as servers, storage, databases, networking, software, and analytics over the Internet on a pay-as-you-go basis. The demand for cloud computing platforms is rising due to their scalability, allowing businesses to easily expand resources based on growing data and operational needs. Predictive maintenance software leverages cloud computing by utilizing real-time data analysis and machine learning algorithms, enabling businesses to optimize maintenance schedules and reduce downtime. It enhances operational efficiency by seamlessly integrating with cloud platforms, offering scalable and cost-effective solutions for asset management. For instance, in December 2023, Eurostat, a Luxembourg-based government agency, reported that 45.2% of enterprises purchased cloud computing services, a 4.2% increase from 41% in 2021. Therefore, the growing adoption of cloud computing is fueling the expansion of the predictive maintenance software market.
Key players in the predictive maintenance software market are focusing on developing innovative solutions, such as artificial intelligence (AI)-driven predictive analytics, to improve equipment reliability, minimize downtime, and optimize maintenance processes. AI-powered predictive analytics uses machine learning and AI to analyze data, predict potential failures, and optimize maintenance strategies to prevent disruptions and improve efficiency. For example, in July 2024, Guidewheel Inc., a US-based industrial operations software company, launched Scout, an AI-powered predictive maintenance solution. This software analyzes machine performance data in real-time to detect early signs of potential failures, enabling manufacturers to prevent equipment damage and downtime without requiring additional hardware or training.
In June 2022, Siemens AG, a Germany-based automation company, acquired Senseye Ltd. for an undisclosed amount. This acquisition strengthens Siemens' digital services portfolio by integrating Senseye's advanced AI-powered predictive maintenance solutions. The acquisition enables Siemens to help industrial companies reduce unplanned machine downtime, improve maintenance productivity, extend asset lifecycles, and enhance overall equipment effectiveness. Senseye Ltd. is a UK-based company specializing in predictive maintenance software solutions for industrial sectors.
Major players in the predictive maintenance software market are Microsoft Corporation, Constellation Software Inc., Hitachi Ltd., Siemens AG, IBM Corporation, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., GE Vernova, SAP SE, ABB Ability, Danaher Corporation, Emerson Electric Co., Rockwell Automation Inc., PTC Inc., NEC Corporation, Augury Inc., Arundo Analytics Inc., MachineMetrics, Avathon.
North America was the largest region in the predictive maintenance software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in predictive maintenance software report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the predictive maintenance software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The predictive maintenance software market consists of revenues earned by entities by providing services such as condition monitoring, failure prediction, asset performance management and remote diagnostics. The market value includes the value of related goods sold by the service provider or included within the service offering. The predictive maintenance software market also includes sales of artificial intelligence-driven analytics platforms, internet of things-enabled monitoring systems, cloud-based maintenance solutions, and software-integrated diagnostic tools. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Predictive Maintenance Software Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on predictive maintenance software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for predictive maintenance software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The predictive maintenance software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.