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Market Research Report

North America Predictive Maintenance Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component, Deployment Type, Technique, End-User-Industry, and Country

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North America Predictive Maintenance Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component, Deployment Type, Technique, End-User-Industry, and Country
Published: August 20, 2020 Content info: 149 Pages
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Title:
North America Predictive Maintenance Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Software and Service), Deployment Type (Cloud and On-Premises), Technique (Vibration Monitoring, Electrical Testing, Oil Analysis, Ultrasonic Leak Detectors, Shock Pulse, Infrared, and Others), End-User-Industry (Manufacturing, Energy and Utilities, Aerospace & Defense, Transportation and Logistics, and Others), and Country.

The predictive maintenance market in North America was valued at US$ 883.69 million in 2019 and is projected to reach US$ 2,514.09 million by 2027; it is expected to grow at a CAGR of 14.1% from 2020 to 2027.

Every sector needs improved asset management, which is boosting the demand for predictive maintenance solutions. Solution providers equipped with machine learning (ML) and artificial intelligence (AI) can collect and make meaningful insights from the vast amount of data generated through various connected devices. Moreover, to optimize various aspects of service delivery, such as quality assessment and predictive maintenance, AI can also be integrated with IoT devices without any human intervention. Real-time inputs from actuators, sensors, and other control parameters would not only predict embryonic asset failures but also help companies monitor and take prompt action without time lag.

Based on component, the predictive maintenance market is segmented into solutions and services. The solution segment held a larger share of the predictive maintenance market in 2019. The market for solution is further categorized into integrated and standalone software solutions. The demand for integrated solutions is high owing to its increasing popularity and awareness among several industries. Thus, the growing need for a single, multi-functional software makes integrated software more popular than standalone software. Standalone software lack the scope of customization; however, due to their low cost, standalone software are widely deployed in small and medium-sized enterprises.

North America, especially the US, has witnessed massive rise in number of confirmed COVID cases, resulting in large-scale lockdown across different regions. Moreover, the retailers and brands are facing various short-term challenges regarding maintaining the production as well as supply chain activities through retailers, distributors, and raw material suppliers during the lockdown. Therefore, the abovementioned factors are hindering the growth of the predictive maintenance market in North America.

The overall North America predictive maintenance market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the predictive maintenance market. The process also serves the purpose of obtaining an overview and forecast for the North America predictive maintenance market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America predictive maintenance market. Hitachi, Ltd.; Software AG; IBM Corporation; Microsoft Corporation; PTC Inc.; Syncron AB; TIBCO Software Inc.; Schneider Electric; SAS; and General Electric Company are among the players operating in the North America predictive maintenance market.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America predictive maintenance market. Highlights key business priorities in order to assist companies to realign their business strategies The key findings and recommendations highlight crucial progressive industry trends in the North America predictive maintenance market, thereby allowing players across the value chain to develop effective long-term strategies Develop/modify business expansion plans by using substantial growth offering developed and emerging markets Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Table of Contents
Product Code: TIPRE00013317

Table Of Contents

1. Introduction

  • 1.1 Study Scope
  • 1.2 The Insight Partners Research Report Guidance
  • 1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

  • 3.1 Coverage
  • 3.2 Secondary Research
  • 3.3 Primary Research

4. North America Predictive Maintenance Market Landscape

  • 4.1 Market Overview
  • 4.2 PEST Analysis
    • 4.2.1 North America
  • 4.3 Ecosystem Analysis

5. North America Predictive Maintenance Market - Key Market Dynamics

  • 5.1 Market Drivers
    • 5.1.1 Increasing Focus Towards Reducing the Maintenance Cost and Increasing the efficiency
    • 5.1.2 Growing Awareness Regarding Predictive Maintenance
  • 5.2 Market Restraints
    • 5.2.1 Limited Availability of Skilled Workforce
    • 5.2.2 Growing Security Concerns
  • 5.3 Market Opportunities
    • 5.3.1 Growing Demand for Improved Asset Management
  • 5.4 Future Trends
    • 5.4.1 Integration of Predictive Maintenance with IIoT and Use of Machine Learning
  • 5.5 Impact Analysis of Drivers and Restraints

6. Predictive Maintenance Market - North America Analysis

    • 6.1.1 North America: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)

7. North America Predictive Maintenance Market Analysis - By Component

  • 7.1 Overview
  • 7.2 Predictive Maintenance Market, by Component (2019 and 2027)
  • 7.3 Solution
    • 7.3.1 Overview
    • 7.3.2 Solution: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 7.4 Service
    • 7.4.1 Overview
    • 7.4.2 Service: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)

8. North America Predictive Maintenance Market Analysis - By Deployment Type

  • 8.1 Overview
  • 8.2 Predictive Maintenance Market, by Deployment Type (2019 and 2027)
  • 8.3 Cloud
    • 8.3.1 Overview
    • 8.3.2 Cloud: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 8.4 On-premise
    • 8.4.1 Overview
    • 8.4.2 On-premise: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)

9. North America Predictive Maintenance Market Analysis - By Technique

  • 9.1 Overview
  • 9.2 Predictive Maintenance Market, by Technique (2019 and 2027)
  • 9.3 Vibration Monitoring
    • 9.3.1 Overview
    • 9.3.2 Vibration Monitoring: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 9.4 Electrical Testing
    • 9.4.1 Overview
    • 9.4.2 Electrical Testing: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 9.5 Oil Analysis
    • 9.5.1 Overview
    • 9.5.2 Oil Analysis: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 9.6 Ultrasonic Leak Detectors
    • 9.6.1 Overview
    • 9.6.2 Ultrasonic Leak Detectors: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 9.7 Shock Pulse
    • 9.7.1 Overview
    • 9.7.2 Shock Pulse: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 9.8 Infrared
    • 9.8.1 Overview
    • 9.8.2 Infrared: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 9.9 Others
    • 9.9.1 Overview
    • 9.9.2 Others: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)

10. North America Predictive Maintenance Market Analysis - By Industry

  • 10.1 Overview
  • 10.2 Predictive Maintenance Market, by Industry (2019 and 2027)
  • 10.3 Manufacturing
    • 10.3.1 Overview
    • 10.3.2 Manufacturing: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 10.4 Energy & Utilities
    • 10.4.1 Overview
    • 10.4.2 Energy & Utilities: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 10.5 Aerospace & Defense
    • 10.5.1 Overview
    • 10.5.2 Aerospace & Defense: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 10.6 Transportation & Logistics
    • 10.6.1 Overview
    • 10.6.2 Transportation & Logistics: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • 10.7 Others
    • 10.7.1 Overview
    • 10.7.2 Others: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)

11. Predictive Maintenance Market - Country Analysis

  • 11.1 North America: Predictive Maintenance Market, by Key Country
      • 11.1.1.1 US: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
        • 11.1.1.1.1 US: Predictive Maintenance Market, by Component
        • 11.1.1.1.2 US: Predictive Maintenance Market, by Deployment Type
        • 11.1.1.1.3 US: Predictive Maintenance Market, by Technique
        • 11.1.1.1.4 US: Predictive Maintenance Market, by Industry
      • 11.1.1.2 Canada: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
        • 11.1.1.2.1 Canada: Predictive Maintenance Market, by Component
        • 11.1.1.2.2 Canada: Predictive Maintenance Market, by Deployment Type
        • 11.1.1.2.3 Canada: Predictive Maintenance Market, by Technique
        • 11.1.1.2.4 Canada: Predictive Maintenance Market, by Industry
      • 11.1.1.3 Mexico: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
        • 11.1.1.3.1 Mexico: Predictive Maintenance Market, by Component
        • 11.1.1.3.2 Mexico: Predictive Maintenance Market, by Deployment Type
        • 11.1.1.3.3 Mexico: Predictive Maintenance Market, by Technique
        • 11.1.1.3.4 Mexico: Predictive Maintenance Market, by Industry

12. Impact of COVID-19 Pandemic on North America Predictive Maintenance Market

  • 12.1 North America: Impact Assessment of COVID-19 Pandemic

13. Industry Landscape

  • 13.1 Market Initiative
  • 13.2 New Development

14. Company Profiles

  • 14.1 Hitachi, Ltd.
    • 14.1.1 Key Facts
    • 14.1.2 Business Description
    • 14.1.3 Products and Services
    • 14.1.4 Financial Overview
    • 14.1.5 SWOT Analysis
    • 14.1.6 Key Developments
  • 14.2 Software AG
    • 14.2.1 Key Facts
    • 14.2.2 Business Description
    • 14.2.3 Products and Services
    • 14.2.4 Financial Overview
    • 14.2.5 SWOT Analysis
    • 14.2.6 Key Developments
  • 14.3 IBM Corporation
    • 14.3.1 Key Facts
    • 14.3.2 Business Description
    • 14.3.3 Products and Services
    • 14.3.4 Financial Overview
    • 14.3.5 SWOT Analysis
    • 14.3.6 Key Developments
  • 14.4 Microsoft Corporation
    • 14.4.1 Key Facts
    • 14.4.2 Business Description
    • 14.4.3 Products and Services
    • 14.4.4 Financial Overview
    • 14.4.5 SWOT Analysis
    • 14.4.6 Key Developments
  • 14.5 PTC Inc.
    • 14.5.1 Key Facts
    • 14.5.2 Business Description
    • 14.5.3 Products and Services
    • 14.5.4 Financial Overview
    • 14.5.5 SWOT Analysis
    • 14.5.6 Key Developments
  • 14.6 Syncron AB
    • 14.6.1 Key Facts
    • 14.6.2 Business Description
    • 14.6.3 Products and Services
    • 14.6.4 Financial Overview
    • 14.6.5 SWOT Analysis
    • 14.6.6 Key Developments
  • 14.7 TIBCO Software Inc.
    • 14.7.1 Key Facts
    • 14.7.2 Business Description
    • 14.7.3 Products and Services
    • 14.7.4 Financial Overview
    • 14.7.5 SWOT Analysis
    • 14.7.6 Key Developments
  • 14.8 Schneider Electric SE
    • 14.8.1 Key Facts
    • 14.8.2 Business Description
    • 14.8.3 Products and Services
    • 14.8.4 Financial Overview
    • 14.8.5 SWOT Analysis
    • 14.8.6 Key Developments
  • 14.9 SAS Institute Inc.
    • 14.9.1 Key Facts
    • 14.9.2 Business Description
    • 14.9.3 Products and Services
    • 14.9.4 Financial Overview
    • 14.9.5 SWOT Analysis
    • 14.9.6 Key Developments
  • 14.10 General Electric Company
    • 14.10.1 Key Facts
    • 14.10.2 Business Description
    • 14.10.3 Products and Services
    • 14.10.4 Financial Overview
    • 14.10.5 SWOT Analysis
    • 14.10.6 Key Developments

15. Appendix

  • 15.1 About The Insight Partners
  • 15.2 Word Index

List Of Tables

  • Table 1. Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Table 2. North America: Predictive Maintenance Market, by Component - Revenue and Forecast to 2027 (US$ Million)
  • Table 3. North America: Predictive Maintenance Market, by Deployment Type - Revenue and Forecast to 2027 (US$ Million)
  • Table 4. North America: Predictive Maintenance Market, by Technique - Revenue and Forecast to 2027 (US$ Million)
  • Table 5. North America: Predictive Maintenance Market, by Industry - Revenue and Forecast to 2027 (US$ Million)
  • Table 6. US: Predictive Maintenance Market, by Component -Revenue and Forecast to 2027 (US$ Million)
  • Table 7. US: Predictive Maintenance Market, by Deployment Type -Revenue and Forecast to 2027 (US$ Million)
  • Table 8. US: Predictive Maintenance Market, by Technique -Revenue and Forecast to 2027 (US$ Million)
  • Table 9. US: Predictive Maintenance Market, by Industry -Revenue and Forecast to 2027 (US$ Million)
  • Table 10. Canada: Predictive Maintenance Market, by Component -Revenue and Forecast to 2027 (US$ Million)
  • Table 11. Canada: Predictive Maintenance Market, by Deployment Type -Revenue and Forecast to 2027 (US$ Million)
  • Table 12. Canada: Predictive Maintenance Market, by Technique -Revenue and Forecast to 2027 (US$ Million)
  • Table 13. Canada: Predictive Maintenance Market, by Industry -Revenue and Forecast to 2027 (US$ Million)
  • Table 14. Mexico: Predictive Maintenance Market, by Component -Revenue and Forecast to 2027 (US$ Million)
  • Table 15. Mexico: Predictive Maintenance Market, by Deployment Type -Revenue and Forecast to 2027 (US$ Million)
  • Table 16. Mexico: Predictive Maintenance Market, by Technique -Revenue and Forecast to 2027 (US$ Million)
  • Table 17. Mexico: Predictive Maintenance Market, by Industry -Revenue and Forecast to 2027 (US$ Million)
  • Table 18. List of Abbreviation

List Of Figures

  • Figure 1. North America Predictive Maintenance Market Segmentation
  • Figure 2. North America Predictive Maintenance Market Segmentation - By Country
  • Figure 3. North America Predictive Maintenance Market Overview
  • Figure 4. North America Predictive Maintenance Market - Component Analysis
  • Figure 5. North America Predictive Maintenance Market - Deployment Type Analysis
  • Figure 6. North America Predictive Maintenance Market - Technique Analysis
  • Figure 7. North America Predictive Maintenance Market - Industry Analysis
  • Figure 8. North America - PEST Analysis
  • Figure 9. Ecosystem Analysis
  • Figure 10. North America Predictive Maintenance Market Impact Analysis of Drivers and Restraints
  • Figure 11. North America: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 12. Predictive Maintenance Market Revenue Share, by Component (2019 and 2027)
  • Figure 13. Solution: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 14. Service: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 15. Predictive Maintenance Market Revenue Share, by Deployment Type (2019 and 2027)
  • Figure 16. Cloud: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 17. On-premise: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 18. Predictive Maintenance Market Revenue Share, by Technique (2019 and 2027)
  • Figure 19. Vibration Monitoring: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 20. Electrical Testing: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 21. Oil Analysis: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 22. Ultrasonic Leak Detectors: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 23. Shock Pulse: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 24. Infrared: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 25. Others: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 26. Predictive Maintenance Market Revenue Share, by Industry (2019 and 2027)
  • Figure 27. Manufacturing: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 28. Energy & Utilities: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 29. Aerospace & Defense: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 30. Transportation & Logistics: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 31. Others: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 32. North America: Predictive Maintenance Market Revenue Share, by Key Country (2019 and 2027)
  • Figure 33. US: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 34. Canada: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 35. Mexico: Predictive Maintenance Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 36. Impact of COVID-19 Pandemic in North American Markets
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