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Predictive Maintenance Market Size & Share, 2025 | Industry Report

Predictive Maintenance Market Analysis Report By Solution, By Service, By Deployment, By Enterprise Size, By End Use, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17620038  |  Published: August 2020  |  No of Pages: 140
Format: Electronic (PDF)  |  Industry: Computing & Technology  |  Publisher: Grand View Research

Industry Insights

The global predictive maintenance market size was accounted for USD 3.18 billion in 2018. It is estimated that the market would grow at 37.9% CAGR over the forecast duration, 2019 to 2025. Across the industries, plants owners and equipment manufacturers face the challenges in ensuring efficient operation of their pieces of machinery. Thus, reducing the maintenance cost and plant downtime become challenging for them. Predictive maintenance help in scheduling maintenance program before any possibility of failure of equipment.

Owing to the time constraints for several industrial services, identifying reasons behind failure is important to avert component failure. Integration of various technologies such as cloud storage, big data, and IoT help in identifying data based on condition, thus, makes the fault detection easier. Information obtained from these technologies can be useful in drawing actionable insights. Thus, increasing the use of predictive maintenance in industrial operation is driving the market growth.

U.S predictive maintenance market

Companies are focusing on improving the uptime for equipment by actively finding the potential cause of failure. With the help of available structural data, faults in components can be easily found out. The structural data includes details about production, working hours, model and warranty details. It also uses unstructured data such as maintenance history and repair logs. With the help of these data, companies predict the time of failure for a piece of particular equipment. By deciding the possibility of failure, companies can easily plan their repair strategy.

Predictive maintenance can be used in industries where a considerable amount of data is generated by machines. Various industries such as aerospace, automotive, manufacturing, chemical, oil & gas, food & beverage and healthcare can make use of this solution. This technique not only reduces downtime and eliminate the cause of failure but it also helps in evaluating trends about asset performance.

However, certain factors such as dearth of skilled workers to operate predictive maintenance solution are hampering the market growth. Individuals with proper knowledge about predictive techniques are required. To address the issue of skilled personnel, the demand for training & consulting services is also gaining traction.

Solution Insights

Depending on the solution, the market is categorized into standalone and integrated solutions. Of them, the integrated solution category is likely to account for the largest share in the market during the forecast period. Increasing demand for the custom-based solution is attributing to the growth of this segment. In addition, the application-specific solution is also gaining traction owing to the increasing popularity of this solution.

While integrated solutions are custom-made, the standalone solution is offered as a standard solution. The standalone solution does not provide a customized solution. However, owing to its cost-effectiveness, this solution is popular among small and medium enterprises. On the other hand, an integrated solution is gaining popularity owing to its multi-purpose.

Service Insights

On the basis of service, the predictive maintenance market is segregated into installation, training & consulting service and support & maintenance. Of them, the installation/deployment category is likely to account for the highest share in the market from 2019 to 2025. The cloud-based deployment solution is on the rise across different industries such as automotive, transportation, aerospace & defense and energy. Increasing cloud deployment is anticipated to bolster market growth.

On the other hand, support & maintenance services are also gaining traction owing to the regular requirement for maintenance of various industrial equipment. After the installation of machine components, support & maintenance plays a vital role over the entire lifecycle of the product. Support & maintenance help in increasing the lifespan of the components.

Enterprise Size Insights

In 2018, large enterprises accounted for the highest share in the market. With the help of predictive maintenance solution, large enterprises automate their need for operational maintenance. Moreover, asset and downtime cost is comparatively high in the large enterprise. To address these challenges, large enterprises are increasingly using predictive maintenance solutions.

On the other hand, small and medium enterprise category is estimated to witness the highest growth rate over the forecast duration. Increasing investment in equipment procurement and the rising number of small and medium organizations are attributing to the growth of the segment. Predictive maintenance helps SMEs in keeping the cost for repair low and offer a better return on investment.

End-use Insights

In 2018, the manufacturing division held the largest share in the market. Increasing demand for continuous maintenance of various manufacturing component such as machinery, pumps, elevators and industrial robots is driving the segment growth. Further, the emergence of industry 4.0 and growing automation are likely to augment the segment growth.

Apart from the manufacturing segment, the energy & utility category is also among major contributor to the growth of the market. Growing need to increase the uptime for equipment by detecting potential issues before failure is supplementing to the growth of this segment. In addition, there is a need for estimating the possibility of failure of the old component in the energy and utility sector. Further, the growing adoption of power consumption analytics is driving the segment growth.

Deployment Insights

Depending on the deployment, on-premise division is likely to be the largest shareholders from 2019 to 2025. Increasing concern regarding data privacy with cloud deployment is attributing to the growth of the on-premise segment. In addition, on-premise is a traditional method used by organizations across the world. Majority of the companies have their own servers to run external and internal software, which, in turn, is estimated to drive the on-premise adoption further.

Asia Pacific predictive maintenance market

On the other hand, cloud deployment is likely to be the fastest-growing segment over the forecast duration. Factors such as better utilization of resources, cost-effectiveness and faster processing of data are supplementing the growth of the cloud models. In addition, major vendors are offering cloud deployment service to automate the process of equipment maintenance.

Regional Growth

Asia Pacific is likely to be the fastest-growing region from 2019 to 2025. The increasing investment made by both private and public sectors is attributing the growth of the region. In addition, Asia Pacific is the home of some of the world’s leading manufacturing units. Easy availability of cheap labor is one of the prime reasons behind the increasing number of manufacturing units. Manufacturing units are increasingly investing in reducing the operational cost and downtime, which, in turn, augmenting the growth of predictive maintenance.

On the other hand, North America is estimated to account for the significant share in the market from 2019 to 2025. The region is one of the early adopters of advanced technologies including predictive maintenance. Presence of major market players in the region is attributing to the growth. In addition, the region is witnessing significant investment in IoT, AI and machine learning technologies, which, in turn, supplementing the growth of the predictive maintenance in the region.

Impact of COVID-19

The outbreak of COVID-19 has a mixed impact on the predictive maintenance market. While sectors such as manufacturing, automobile, IT & telecommunication and energy have witnessed a sharp decline in the demand, the healthcare segment is witnessing a rise in demand for predictive maintenance solutions. Businesses have significantly reduced their spending on technology, thus, leading to slow growth. However, COVID-19 is expected to affect the market only for the short period and adoption of technologies such as AI, IoT and big data is predicted to increase, which, in turn, likely to drive the market growth.

Predictive Maintenance Market Share Insights

Major players operating in the market are Microsoft Corporation, General Electric Company, Accenture plc, IBM Corporation, Cisco Systems, Software AG, IBM Corporation and SAP ERP among others. Market players are focusing on implementing various inorganic and organic growth strategies like new product launches, collaborations, merger & acquisition and partnerships among others.

A leading technology giant IBM Corporation is one of the early developers of predictive maintenance technology. It provides a solution for monitoring, optimizing and maintaining the asset. The company helps organizations through a set of instructions when changes in asset performance are identified. 

Report Scope



Base year for estimation


Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Country scope

U.S., Canada, Germany, U.K., China, India, Japan, and Brazil

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global predictive maintenance market report based on solution, service, deployment, enterprise size, end-use, and region:

• Solution Outlook (Revenue, USD Million, 2014 - 2025)
    • Integrated
    • Standalone

• Service Outlook (Revenue, USD Million, 2014 - 2025)
    • Deployment/Installation
    • Support & Maintenance
    • Training & Consulting

• Deployment Outlook (Revenue, USD Million, 2014 - 2025)
    • Cloud
    • On-premise

• Enterprise Size Outlook (Revenue, USD Million, 2014 - 2025)
    • Small & Medium Enterprises
    • Large Enterprises

• End-Use Outlook (Revenue, USD Million, 2014 - 2025)
    • Aerospace & Defense
    • Automotive & Transportation
    • Energy & Utilities
    • Healthcare
    • IT & Telecommunication
    • Manufacturing
    • Oil & Gas
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • Germany
        • The U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa

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