{"id":455613,"date":"2019-12-11T10:48:01","date_gmt":"2019-12-11T10:48:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=455613"},"modified":"2019-12-11T10:48:01","modified_gmt":"2019-12-11T10:48:01","slug":"predictive-maintenance-market-size-worth-2824-billion-by-2025-key-players-operating-in-the-market-ibm-corporation-microsoft-corporation-accenture-plc-honeywell-international-inc-etc","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/predictive-maintenance-market-size-worth-2824-billion-by-2025-key-players-operating-in-the-market-ibm-corporation-microsoft-corporation-accenture-plc-honeywell-international-inc-etc_455613.html","title":{"rendered":"Predictive Maintenance Market Size Worth $28.24 Billion By 2025 | Key Players Operating In The Market IBM Corporation; Microsoft Corporation, Accenture plc; Honeywell International Inc. Etc."},"content":{"rendered":"
\"Predictive<\/a><\/p>\n
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Grand View Research, Inc. – Market Research And Consulting.<\/div>\n<\/div>\n<\/div>\n
Growth of the aerospace and defense segment is being driven by the growing demand for effective flight operation and avoidance of mishaps or accidents due to failure of any component within the airplane. Demand for cloud-based predictive maintenance solutions is likely to witness a rise owing to cost-effectiveness and easy maintenance of produced data through these solutions<\/div>\n

The global predictive maintenance market<\/a><\/strong> size is expected to be valued at USD 28.24 billion by 2025, expanding at a CAGR of 37.9% over the forecast period, according to a study conducted by Grand View Research, Inc. Growing demand for IoT and big data along with rising concerns in the organizations regarding asset maintenance and operational costs is expected to drive the growth. Moreover, deployment of predictive maintenance solutions can help organizations in reducing the downtime costs by accurately predicting asset failures.<\/p>\n

The deployment of predictive maintenance solutions is not limited to the manufacturing sector. These solutions are now increasingly being deployed in energy and utilities, IT and telecommunication, and automotive and transportation, among others. Growing adoption of these solution in various sectors is anticipated to support the market growth over the forecast period.<\/p>\n

Solution Insights<\/strong>
Based on solution, the predictive maintenance market is segmented into integrated and standalone solutions. The integrated solutions segment is anticipated hold the dominant market share over the forecast period. High demand for integrated solutions can be attributed to the growing need for customized solutions. Moreover, with the growing popularity and awareness about these solutions, the demand for application specific solutions from various industry verticals have increased significantly.<\/p>\n

Service Insights<\/strong>
Based on service, the market is segmented into deployment\/installation, support and maintenance, and training and consulting services. The deployment\/installation services segment is anticipated to dominate the market in the forthcoming years. The demand for cloud-based deployment of the solutions from various industry verticals such as aerospace and defense, automotive and transportation, and energy and utilities is likely to increase over the forecast period. This is expected to further contribute to the segment growth.<\/p>\n

\"U.S.<\/p>\n

Get Details For “Sample Report, TOC, Segmentation & methodology of Predictive Maintenance Market” Click Link Below: https:\/\/www.grandviewresearch.com\/industry-analysis\/predictive-maintenance-market<\/a><\/strong><\/p>\n

Enterprise Size Insights<\/strong>
Large enterprises segment accounted for a major market share in 2018. These enterprises are optimizing and automating their operational maintenance process by using these solutions. Moreover, the cost associated to downtime and assets in large enterprises is very high. To overcome these challenges predictive maintenance solutions are increasingly being deployed in large enterprises across the globe.<\/p>\n

Companies operating in the predictive maintenance market are also integrating sensor-based technologies with the predictive maintenance solutions to deliver an efficient solution to users. Additionally, the venders are also investing in R&D of remote maintenance solutions. The remote predictive maintenance solution is anticipated to support the maintenance activities in remote locations and also for unsafe working conditions.<\/p>\n

Further key findings from the report suggest:<\/strong><\/p>\n