- In August 2023, Honeywell, a U.S.-based company, launched its Versatilis transmitters, a solution designed for condition-based monitoring of rotating equipment across various industries
- In June 2023, Accenture acquired Nextira, a premier Amazon Web Services (AWS) partner, to enhance its engineering capabilities within Accenture Cloud First. This acquisition will enable Accenture to deliver predictive analytics, cloud-native innovations, and immersive experiences to clients, leveraging AWS solutions to provide comprehensive cloud capabilities
- In May 2023, Cisco Systems and NTT, a telecom infrastructure services provider, partnered to develop solutions that deliver real-time data insights, improved decision-making, and enhanced security. Their collaboration focuses on predictive maintenance, supply chain management, and asset tracking
- In June 2022, Siemens, based in the U.K., acquired Senseye to strengthen its portfolio in predictive maintenance and asset intelligence
- In June 2022, Microsoft, headquartered in the U.S., partnered with Schneider Electric, based in France, to introduce advanced maintenance solutions that enhance energy management, asset performance, and operational efficiency
- In July 2021, Schneider Electric launched EcoStruxure TriconexTM Safety View, a pioneering software for bypass and alarm management that is dual-certified for safety and cybersecurity. This solution allows operators to monitor bypass status and critical alarms to maintain safe operations under high-risk conditions
- In May 2021, SAS Institute released SAS Viya, its powerful cloud-native platform for data management and analytics, aimed at empowering data-driven success through new integrated solutions for data operations
Frequently Asked Questions
The market is segmented based on Segmentation, By Components (Solution and Services), Deployment Mode (Cloud and On-Premise), Organization Size (Large Enterprises and Small and Medium-Sized Enterprises), Vertical (Manufacturing, Energy and Utilities, Transportation, Government, Healthcare, Aerospace and Defense, and Others), Stakeholder (MRO, OEM/ODM, and Technology Integrators) – Industry Trends and Forecast to 2031
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The Global Predictive Maintenance Market size was valued at USD 6.72 USD Billion in 2023.
The Global Predictive Maintenance Market is projected to grow at a CAGR of 32.3% during the forecast period of 2024 to 2031.
The major players operating in the market include Microsoft, IBM, SAP, SAS Institute , Software AG, TIBCO Software , Hewlett Packard Enterprise Development LP, Altair Engineering , Splunk , Oracle, Google, Amazon Web Services , General Electric, Schneider Electric, Hitachi , PTC, RapidMiner , Operational Excellence Group Ltd, Dingo, Factory5 .
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
