Operational Predictive Maintenance Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023
- Transparency Market Research
Operational Predictive Maintenance Market: Overview
Operational predictive maintenance software retrieve multiple data sources in real time to predict quality issues or asset failure. Adoption of these software solutions facilitate organizations to prevent downtime and reduce maintenance costs. Operational predictive software solutions detect failure patterns and minor anomalies to determine the assets and operational processes that are at the greatest risk of failure. Deployment of operation predictive maintenance software boosts equipment uptime and enhance supply chain processes and quality. One of the major factors for the increasing usage of these software solutions is their ability to accurately predict asset failure, enabling enterprises to take the asset out of production ensuing efficient supply chain.
Operational Predictive Maintenance Market: Drivers
The operational predictive maintenance market has been experiencing massive growth in the recent years due to rise in demand for transforming maintenance operations and reducing asset downtime. Moreover, steadily rising dependence on big data and emerging concepts such as the Internet of Things (IoT) coupled with the rising focus of organizations on cutting back on operational cost is further expected to fuel the growth of operational predictive maintenance market during the forecast period. However, lack of training for operators and lack of trust in predictive maintenance technology is hindering the market growth. Increasing demand for real time steaming analytics and increasing demand from small and medium enterprises (SMEs) is expected to create huge opportunities for the companies operating in operational predictive maintenance market.
Operational Predictive Maintenance Market: Segmentation
The global operational predictive maintenance market is segmented on the basis of components, deployment type, application, and geography. Based on the component, the global operational predictive maintenance market is classified into solutions and services. Further, services segment is further categorized into system integration, training and support, and consulting. Based on the deployment type, the global operational predictive maintenance market is further segmented into cloud-based and on-premise.
Among these, cloud based operational predictive maintenance solutions market is expected to show swiftest growth enabling enterprises to reduce their dependence on data mining specialists, data integration and IT. In terms of application, the market is segmented automotive, energy and utilities, healthcare, manufacturing facilities, government and defense and transportation and logistics. Among these, manufacturing facilities are expected to hold the major market share for operational predictive maintenance market due to high deployment rate by manufacturers to reduce the maintenance cost consequently increasing the profitability.
Operational Predictive Maintenance Market: Regional Dynamics
On the basis of geography, the global operational predictive maintenance market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, North America is expected to lead the operational predictive maintenance market in 2016. The growing big data market and high adoption of IoT are contributing to the growth for operational predictive maintenance market in the North America region. Moreover, heavy investments made by countries such as China, Japan, Korea, and India in Asia-Pacific to enhance the efficiency of production assets is further expected to offer sufficient growth opportunities for the operational predictive maintenance market in this region.
Operational Predictive Maintenance Market: Key Players
Some of the leading companies operating in the global operational predictive maintenance market which are transmuting the market with technology innovation are IBM Corporation, SAS Institute Inc., Software AG, General Electric, Robert Bosch GmbH, Rockwell Automation, Inc., PTC, Inc., Schneider Electric, Svenska Kullagerfabriken AB, and Emaint Enterprises, LLC.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.