Predictive Maintenance Market Summary
As per Market Research Future Analysis, the Predictive Maintenance (PdM) market was valued at USD 17.3 billion in 2021 and is projected to grow significantly, reaching USD 111.30 billion by 2030. This growth is driven by the increasing demand for maintenance cost reduction and the adoption of real-time streaming analytics technology. The market is characterized by a compound annual growth rate (CAGR) of 26.20% from 2024 to 2030, indicating robust expansion across various sectors, particularly manufacturing and logistics.
Key Market Trends & Highlights
The Predictive Maintenance market is witnessing transformative trends driven by technological advancements.
- Market Size in 2022: USD 21.83 Billion
- CAGR from 2024 to 2030: 26.20%
- Largest Market Share by Vertical: Manufacturing
- Dominant Component: Solutions segment
Market Size & Forecast
2021 Market Size: USD 17.3 Billion
2022 Market Size: USD 21.83 Billion
2030 Market Size: USD 111.30 Billion
CAGR from 2024 to 2030: 26.20%
Largest Regional Market Share in 2021: North America
Major Players
Key players include Axiomtek Co. Ltd (Taiwan), Oracle Corporation (US), Microsoft Corporation (US), XMPro (US), and IBM Corporation (US).
Figure 1: Predictive Maintenance (PdM) Market Size, 2022 - 2030 (USD Billion)
Source Primary Research, Secondary Research, Market Research Future Database and Analyst Review
Predictive Maintenance (PdM) Market Trends
The rising adoption of PdM solutions in various rapidly growing sectors to boost market growth
Businesses are utilising AI and ML technology to evaluate loT data with extraordinary precision, accuracy, and speed compared to traditional business intelligence solutions. PdM proactive maintenance strategies offer solutions to minimise time and money spent on repairs and maintenance while reducing unplanned downtime of equipment that is essential for production. PdM solutions also guarantee that assets are always available and in top functioning condition.
Further, One of the best alternatives for asset-heavy firms that offers lower expenses and a higher ROI is predictive maintenance tactics. Solution providers skilled in AI and ML can gather a sizable amount of customer-related data and turn it into insightful information. due to loT's massive data production from linked devices. Real-time condition monitoring is made possible by the ongoing improvements in big data and cloud testing. A wealth of data is made available by the widespread use of loT devices with industrial equipment.
Additionally, Machine learning and artificial intelligence are now more frequently combined. A growing number of clients are embracing these AI-powered solutions to assist in the transition from a reactive to a proactive strategy. New AI-enabled solutions are being aggressively introduced by market participants.has enhanced the Predictive Maintenance (PdM) market CAGRacross the globe in the recent years.
However the expanding utilization of predictive maintenance in the logistics and transportation industries is another factor driving the growth of the Predictive Maintenance (PdM) marketrevenue.
Predictive Maintenance Market Segment Insights
Predictive Maintenance (PdM) Component Insights
The Predictive Maintenance (PdM) market segmentation,based on component, includes Hardware, Solution, Services. The market was dominated by the solution sector. In order to predict an anomaly in the operation of the essential equipment, the solution makes use of the data accumulated by various IoT sensors and does an in-depth data analysis. Hence, is a great contributor in Predictive Maintenance (PdM) market revenue. In some circumstances, businesses directly prefer to adopt managed services for their operations in accordance with their needs.
Additionally, the increasing demand for employee training, efficient application of these solutions, and help with integration & implementation are anticipated to boost the expansion of the services sector.
On June 2022: Siemens Digital Industries announced the acquisition of Senseye, a Southampton-based provider of machine data, to broaden its range of cutting-edge predictive maintenance and asset intelligence.
Predictive Maintenance (PdM) Testing Type Insights
The Predictive Maintenance (PdM) market segmentation,based on testing type, includes Vibration Monitoring, Electrical Insulation, Infrared Detector Thermography, Temperature Monitoring, and others. Among these, the vibration monitoring segment accounts for the largest market share. Additionally, Regular motor testing, or testing at the first hint of trouble, allows for accurate problem prediction, prevention, and resolution with the least amount of service interruption. It is possible to do this motor winding test without actually attaching the test apparatus to the motor. The test apparatus is typically linked to the motor starter's load side.
A voltage pulse is applied to the other two windings while one of the three windings is grounded during the test. The segment is anticipated to have the greatest CAGR throughout the assessment period. positively impacts the market growth.
Predictive Maintenance (PdM) Deployment Mode Insights
Theglobal Predictive Maintenance (PdM) market data based on deployment includes Cloud, and On-premise. The on-premises market category represents the biggest market share of these. Additionally, the segment is anticipated to have the greatest CAGR throughout the assessment period. Its modular sensors and simpler deployments in existing equipment are credited with this. However, due to direct IT control, remote accessibility, internal data delivery & handling, faster data processing using advanced predictive analytics, efficient resource utilisation, and cost-effectiveness, cloud-based predictive maintenance solutions are expected to exhibit the highest growth rate during the forecast period.
Figure 2: Predictive Maintenance (PdM) Market, by Deployment, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
Predictive Maintenance (PdM) Technique Insights
Based on Techniques, the Predictive Maintenance (PdM) industry has been segmented into Traditional Technique, Advanced Technique. The market share that belongs to traditional procedures is the largest. Additionally, the segment is anticipated to have the greatest CAGR throughout the assessment period. Traditional maintenance techniques are simple. They include planned maintenance on a regular basis and emergency maintenance. This means that equipment is taken out of the manufacturing cycle until the broken or worn-out components are fixed.
Predictive Maintenance (PdM) Vertical Insights
Based on Vertical, the Predictive Maintenance (PdM) industry has been segmented into Manufacturing, Healthcare, Energy & Utility, Automotive, Aerospace & Defense, Transportation, and Others. The manufacturing sector holds the biggest market share of these. Additionally, the segment is anticipated to have the greatest CAGR throughout the assessment period. Companies are concentrating on increasing their financial performance by thoroughly examining the manufacturing reliability of their operations as competition in the manufacturing business grows and the obstacles for successful survival become more significant. In this context, effective asset performance management is a must-have.
Predictive Maintenance (PdM) Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North AmericaPredictive Maintenance (PdM) market accounted for USD 7.47 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. Key developments in technology are among the main drivers of the predictive maintenance industry in this region.
Further, the major countries studiedin the market reportare: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: PREDICTIVE MAINTENANCE (PDM) MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
Europe Predictive Maintenance (PdM) market accounts for the second-largest market share due to the increase in awareness towards the benefits of predictive maintenance in all sectors. Further, the Germany Predictive Maintenance (PdM) marketheld the largest market share, and the UK Predictive Maintenance (PdM) market was the fastest growing market in the European region
The Asia-Pacific Predictive Maintenance (PdM) Market is expected to grow at the fastest CAGR from 2022 to 2030. A number of businesses are currently introducing next-generation, complete cloud-based solutions. Industry expansion has been assisted by the rising use of new and developing technologies to get insightful knowledge into decision-making. Various vertical end-users are looking for downtime and cost savings more and more. Moreover, China Predictive Maintenance (PdM) market held the largest market share, and the India Predictive Maintenance (PdM) market was the fastest growing market in the Asia-Pacific region
Predictive Maintenance (PdM) Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Predictive Maintenance (PdM) market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Predictive Maintenance (PdM) industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the Predictive Maintenance (PdM) industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Predictive Maintenance (PdM) industry has provided efficiency in terms of providing many solutions ahead of time. The Predictive Maintenance (PdM) market major player such as Axiomtek Co. Ltd (Taiwan), Oracle Corporation (US), Microsoft Corporation (US), XMPro (US) and others are working to expand the market demand by investing in research and development activities.
Axiomtek is a well-known industry pioneer who is steadfastly committed to the research, development, and production of a variety of cutting-edge, dependable, and industrial computer products with high efficiency. Over the past 30 years, Axiomtek has grown dramatically. Software, hardware, firmware, and application engineers are all part of Axiomtek's expanding team of engineers. In December 2022: Axiomtek, a company with experience in both software and hardware integration, recently introduced the AMR Builder Package. The package comes with DigiHub for AMR, sensor kits, a controller, and development support services.
Senseye is a industrial analytics software company providing outcome-oriented predictive maintenance solutions for manufacturing and industrial companies. Its predictive maintenance technology offers a significant decrease in unplanned machine downtimes and greater productivity of maintenance personnel. Through extended asset lifetimes and waste reduction, Senseye products help businesses enhance their sustainability. On June 2022 Siemens Digital Industries announced the acquisition of Senseye, a Southampton-based provider of machine data, to broaden its range of cutting-edge predictive maintenance and asset intelligence.
Key Companies in the Predictive Maintenance (PdM) market includes
Predictive Maintenance Industry Developments
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Q2 2024: Siemens launches Predictive Maintenance Suite for industrial IoT Siemens announced the launch of its new Predictive Maintenance Suite, integrating AI-driven analytics for real-time equipment monitoring in manufacturing and energy sectors.
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Q2 2024: Honeywell and Microsoft expand partnership to deliver AI-powered predictive maintenance solutions Honeywell and Microsoft announced an expanded partnership to co-develop AI-powered predictive maintenance solutions for industrial customers, leveraging Microsoft Azure and Honeywell Forge.
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Q2 2024: ABB acquires predictive maintenance startup Seebo ABB announced the acquisition of Seebo, an Israeli startup specializing in predictive maintenance and process optimization, to strengthen its digital solutions portfolio.
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Q3 2024: GE Digital wins $50M contract for predictive maintenance platform with major US utility GE Digital secured a $50 million contract to deploy its predictive maintenance platform across a major US utility’s power generation assets.
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Q3 2024: Augury raises $100M Series D to expand predictive maintenance AI platform Industrial AI company Augury raised $100 million in Series D funding to accelerate development and global expansion of its predictive maintenance platform.
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Q3 2024: SKF opens new predictive maintenance R&D center in Germany SKF inaugurated a new research and development center in Germany focused on advancing predictive maintenance technologies for industrial bearings and rotating equipment.
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Q4 2024: Siemens and AWS announce strategic partnership for cloud-based predictive maintenance Siemens and Amazon Web Services (AWS) announced a strategic partnership to deliver cloud-based predictive maintenance solutions for global manufacturing clients.
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Q4 2024: Emerson appoints new VP of Predictive Maintenance Solutions Emerson named Dr. Lisa Chen as Vice President of Predictive Maintenance Solutions, overseeing product strategy and global market expansion.
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Q1 2025: Hitachi launches Lumada Predictive Maintenance for rail networks Hitachi introduced Lumada Predictive Maintenance, a new platform designed to optimize rail network operations and reduce downtime using AI and IoT.
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Q1 2025: IBM and Schneider Electric sign global agreement for predictive maintenance in energy sector IBM and Schneider Electric signed a global agreement to jointly deliver predictive maintenance solutions for energy infrastructure, leveraging IBM’s AI and Schneider’s EcoStruxure platform.
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Q2 2025: SAP acquires predictive maintenance software firm Senseye SAP announced the acquisition of Senseye, a UK-based predictive maintenance software provider, to enhance its industrial cloud offerings.
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Q2 2025: Uptake Technologies secures $75M funding to scale predictive maintenance for logistics Uptake Technologies raised $75 million in new funding to expand its predictive maintenance solutions for logistics and transportation fleets.
Predictive Maintenance Market Segmentation
Predictive Maintenance (PdM) Component Outlook
Predictive Maintenance (PdM) Testing Type Outlook
Predictive Maintenance (PdM) Deployment Mode Outlook
Predictive Maintenance (PdM) Technique Outlook
PdM Vertical Outlook
Predictive Maintenance Regional Outlook
| Attribute/Metric |
Details |
| Market Size 2021 |
USD 17.3billion |
| Market Size 2022 |
USD 21.83 billion |
| Market Size 2030 |
USD 111.30 billion |
| Compound Annual Growth Rate (CAGR) |
26.20% (2024-2030) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2030 |
| Historical Data |
2018 & 2020 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Component, Testing Type, Deployment Mode, Technique, Vertical, and Region |
| Geographies Covered |
North America, Europe, AsiaPacific, and Rest of the World |
| Countries Covered |
The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Axiomtek Co. Ltd (Taiwan), Oracle Corporation (US), Microsoft Corporation (US), XMPro (US) and others. |
| Key Market Opportunities |
One of the best alternatives for asset-heavy firms that offers lower expenses and a higher ROI is predictive maintenance tactics |
| Key Market Dynamics |
Increasing demand for maintenance cost reduction Growing use of real-time streaming analytics technology |
Predictive Maintenance Market Highlights:
Frequently Asked Questions (FAQ):
The Predictive Maintenance (PdM) market size was valued at USD 17.3 Billion in 2021.
The market is projected to grow at a CAGR of 26.20% during the forecast period, 2024-2030.
North America had the largest share in the market.
The key players in the market are Axiomtek Co. Ltd (Taiwan), Oracle Corporation (US), Microsoft Corporation (US), XMPro (US).
