Growing at 32.2% CAGR | Predictive Maintenance Market Reach USD 162.1 Billion by 2033 Globally
WILMINGTON, DE, UNITED STATES, August 4, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, “Growing at 32.2% CAGR | Predictive Maintenance Market Reach USD 162.1 Billion by 2033 Globally.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global predictive maintenance market was valued at USD 10.1 billion in 2023, and is projected to reach USD 162.1 billion by 2033, growing at a CAGR of 32.2% from 2024 to 2033.
Driving Factors Predictive Maintenance Market
The global predictive maintenance market is experiencing growth due to rise in demand for increased asset uptime and lowering maintenance costs, increase in investments in predictive maintenance in industries as a result of IoT adoption, and advent of ML and AI. However, the implementation problems and data security concerns hinder Predictive Maintenance Market growth to some extent.
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Market Segmentation Predictive Maintenance Market
The predictive maintenance market is segmented into component, technique, deployment mode, end user, and region. On the basis of component, the market is divided into solutions and services. On the basis of technique, the market is divided into vibration monitoring, electrical testing, oil analysis, ultrasonic leak detectors, shock pulse, infrared, and others. On the basis of deployment mode, the market is divided into on-premise and cloud. As per end user, the market is segregated into manufacturing, energy and utilities, aerospace and defense, transportation and logistics, government, healthcare, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Key Players Predictive Maintenance Market
The major players operating in the predictive maintenance market include IBM Corporation, ABB Ltd, Schneider Electric, Amazon Web Services, Inc., Google LLC, Microsoft Corporation, Hitachi, Ltd., SAP SE, SAS Institute Inc., and Software AG. Other players in the predictive maintenance market include C3.ai, Siemens AG, Honeywell International Inc. and so on.
If you have any questions, Please feel free to contact our analyst at: https://www.alliedmarketresearch.com/connect-to-analyst/2469
Asia-Pacific to maintain its dominance by 2033
By region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for three-fourths of the global predictive maintenance market, owing to widespread adoption of Industrial Internet of Things (IIoT) technologies. Manufacturing and industrial sectors in countries such as China, Japan, and South Korea, are integrating IIoT sensors to collect real-time data from machinery and equipment, facilitating continuous monitoring and early fault detection.
The services segment is expected to witness rapid growth throughout the forecast period.
By component, the solution segment held the highest market share in 2023, accounting for more than one-third of the global predictive maintenance market revenue and is likely to retain its dominance throughout the forecast period, owing to rise in use of artificial intelligence (AI) and machine learning (ML) algorithms, allowing for more sophisticated analysis of data and better identification of patterns that precede equipment failures.
However, the services segment is projected to manifest the highest CAGR from 2024 to 2033, owing to rise in adoption of AI and machine learning in predictive maintenance services, which allows for more precise and sophisticated analysis of data to predict equipment failures. Service providers are increasingly leveraging big data analytics to process vast amounts of information collected from sensors and IoT devices, enabling real-time monitoring and more accurate predictions.
The infrared segment is expected to witness rapid growth throughout the forecast period.
By technique, the vibration monitoring segment held the highest market share in 2023, accounting for more than one-third of the global predictive maintenance market revenue and is expected to retain its dominance throughout the forecast period, owing to the proliferation of wireless and IoT-enabled vibration sensors. These sensors provide real-time data and are easier to install and maintain compared to traditional wired sensors. They enable continuous monitoring of machinery without the need for extensive cabling, reducing setup time and costs.
However, the infrared segment is projected to manifest the highest CAGR from 2024 to 2033, owing to the enhanced sensitivity and accuracy of modern IR cameras. These advancements allow for more precise detection of thermal anomalies, enabling earlier identification of potential equipment failures. The resolution of IR cameras has improved, providing clearer and more detailed thermal images that help maintenance teams diagnose issues more effectively.
The cloud segment is expected to grow faster throughout the forecast period.
By deployment mode, the on-premise segment held the highest market share in 2023, accounting for more than one-third of the global predictive maintenance market revenue and is expected to retain its dominance throughout the forecast period, owing to increasing adoption in industries that require high data security and low latency, such as aerospace, defense, and critical infrastructure sectors. These systems offer robust control over data privacy and compliance with stringent regulatory standards, making them suitable for environments where data sensitivity is paramount.
However, the cloud segment is projected to manifest the highest CAGR from 2024 to 2033, owing to the widespread adoption of Internet of Things (IoT) devices and sensors that continuously collect data from machinery and equipment. This data is transmitted to cloud platforms, where it can be stored, processed, and analyzed in real-time, allowing for more accurate and timely predictions of equipment failures.
The energy and utilities segment is expected to lead throughout the forecast period.
By end user, the manufacturing segment held the highest market share in 2023, accounting for nearly two-fifths of the global predictive maintenance industry revenue and is expected to retain its dominance throughout the forecast period, owing to the integration of Industrial Internet of Things (IIoT) devices, which collect real-time data from machinery and equipment. These sensors monitor various parameters such as vibration, temperature, and pressure, providing continuous insights into the health of manufacturing assets.
However, the energy and utilities segment is projected to manifest the highest CAGR from 2024 to 2032, owing to an increase in deployment of IoT sensors across energy infrastructure, such as power plants, wind turbines, and grid systems. These sensors continuously collect data on equipment performance, environmental conditions, and operational parameters, providing real-time insights into the health of critical assets.
Buy Now & Get Exclusive Discount on this Report (309 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/predictive-maintenance-market/purchase-options
Recent Key Strategies and Developments: Predictive Maintenance Market
● In June 2022, Siemens Digital Industries announced the acquisition of Senseye, a Southampton-based provider of machine data, to broaden its range of innovative predictive maintenance and asset intelligence.
● In June 2022: GlobalLogic Japan, Ltd. (“GlobalLogic Japan”) is a Japanese affiliate of GlobalLogic Inc., which will be bought by Hitachi, Ltd. (TSE:6501, “Hitachi”) in July 2021. Today, Nojima Corporation (TSE:7419, “Nojima”) announced their alliance. The collaboration aims to hasten Nojima’s Digital Transformation (“DX”) strategy’s creation and application.
● In April 2021, Amazon Web Services rolled out its ‘Amazon Lookout for Equipment’, which is a predictive maintenance solution. Furthermore, it uses machine learning to assist in scheduling maintenance work for various equipment with the use of sensors.
● In July 2021, Schneider Electric produced EcoStruxtureTM TriconexTM Safety View. This is the first binary safety-and-cybersecurity-certified alarm and bypass operation software with an assiduity feature, which enables drivers to get access to both bypass statuses. These bypasses ensure effective and safe factory operation when pitfalls are comparatively high.
Thanks for reading this article, you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
Other Trending Reports:
● IT Asset Disposition Market
● Blockchain in Gaming Market
About Us:
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
The global predictive maintenance market was valued at USD 10.1 billion in 2023, and is projected to reach USD 162.1 billion by 2033, growing at a CAGR of 32.2% from 2024 to 2033.
Driving Factors Predictive Maintenance Market
The global predictive maintenance market is experiencing growth due to rise in demand for increased asset uptime and lowering maintenance costs, increase in investments in predictive maintenance in industries as a result of IoT adoption, and advent of ML and AI. However, the implementation problems and data security concerns hinder Predictive Maintenance Market growth to some extent.
Request Sample Report (Get Full Insights in PDF – 309 Pages) at: https://www.alliedmarketresearch.com/request-sample/2469
Market Segmentation Predictive Maintenance Market
The predictive maintenance market is segmented into component, technique, deployment mode, end user, and region. On the basis of component, the market is divided into solutions and services. On the basis of technique, the market is divided into vibration monitoring, electrical testing, oil analysis, ultrasonic leak detectors, shock pulse, infrared, and others. On the basis of deployment mode, the market is divided into on-premise and cloud. As per end user, the market is segregated into manufacturing, energy and utilities, aerospace and defense, transportation and logistics, government, healthcare, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Key Players Predictive Maintenance Market
The major players operating in the predictive maintenance market include IBM Corporation, ABB Ltd, Schneider Electric, Amazon Web Services, Inc., Google LLC, Microsoft Corporation, Hitachi, Ltd., SAP SE, SAS Institute Inc., and Software AG. Other players in the predictive maintenance market include C3.ai, Siemens AG, Honeywell International Inc. and so on.
If you have any questions, Please feel free to contact our analyst at: https://www.alliedmarketresearch.com/connect-to-analyst/2469
Asia-Pacific to maintain its dominance by 2033
By region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for three-fourths of the global predictive maintenance market, owing to widespread adoption of Industrial Internet of Things (IIoT) technologies. Manufacturing and industrial sectors in countries such as China, Japan, and South Korea, are integrating IIoT sensors to collect real-time data from machinery and equipment, facilitating continuous monitoring and early fault detection.
The services segment is expected to witness rapid growth throughout the forecast period.
By component, the solution segment held the highest market share in 2023, accounting for more than one-third of the global predictive maintenance market revenue and is likely to retain its dominance throughout the forecast period, owing to rise in use of artificial intelligence (AI) and machine learning (ML) algorithms, allowing for more sophisticated analysis of data and better identification of patterns that precede equipment failures.
However, the services segment is projected to manifest the highest CAGR from 2024 to 2033, owing to rise in adoption of AI and machine learning in predictive maintenance services, which allows for more precise and sophisticated analysis of data to predict equipment failures. Service providers are increasingly leveraging big data analytics to process vast amounts of information collected from sensors and IoT devices, enabling real-time monitoring and more accurate predictions.
The infrared segment is expected to witness rapid growth throughout the forecast period.
By technique, the vibration monitoring segment held the highest market share in 2023, accounting for more than one-third of the global predictive maintenance market revenue and is expected to retain its dominance throughout the forecast period, owing to the proliferation of wireless and IoT-enabled vibration sensors. These sensors provide real-time data and are easier to install and maintain compared to traditional wired sensors. They enable continuous monitoring of machinery without the need for extensive cabling, reducing setup time and costs.
However, the infrared segment is projected to manifest the highest CAGR from 2024 to 2033, owing to the enhanced sensitivity and accuracy of modern IR cameras. These advancements allow for more precise detection of thermal anomalies, enabling earlier identification of potential equipment failures. The resolution of IR cameras has improved, providing clearer and more detailed thermal images that help maintenance teams diagnose issues more effectively.
The cloud segment is expected to grow faster throughout the forecast period.
By deployment mode, the on-premise segment held the highest market share in 2023, accounting for more than one-third of the global predictive maintenance market revenue and is expected to retain its dominance throughout the forecast period, owing to increasing adoption in industries that require high data security and low latency, such as aerospace, defense, and critical infrastructure sectors. These systems offer robust control over data privacy and compliance with stringent regulatory standards, making them suitable for environments where data sensitivity is paramount.
However, the cloud segment is projected to manifest the highest CAGR from 2024 to 2033, owing to the widespread adoption of Internet of Things (IoT) devices and sensors that continuously collect data from machinery and equipment. This data is transmitted to cloud platforms, where it can be stored, processed, and analyzed in real-time, allowing for more accurate and timely predictions of equipment failures.
The energy and utilities segment is expected to lead throughout the forecast period.
By end user, the manufacturing segment held the highest market share in 2023, accounting for nearly two-fifths of the global predictive maintenance industry revenue and is expected to retain its dominance throughout the forecast period, owing to the integration of Industrial Internet of Things (IIoT) devices, which collect real-time data from machinery and equipment. These sensors monitor various parameters such as vibration, temperature, and pressure, providing continuous insights into the health of manufacturing assets.
However, the energy and utilities segment is projected to manifest the highest CAGR from 2024 to 2032, owing to an increase in deployment of IoT sensors across energy infrastructure, such as power plants, wind turbines, and grid systems. These sensors continuously collect data on equipment performance, environmental conditions, and operational parameters, providing real-time insights into the health of critical assets.
Buy Now & Get Exclusive Discount on this Report (309 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/predictive-maintenance-market/purchase-options
Recent Key Strategies and Developments: Predictive Maintenance Market
● In June 2022, Siemens Digital Industries announced the acquisition of Senseye, a Southampton-based provider of machine data, to broaden its range of innovative predictive maintenance and asset intelligence.
● In June 2022: GlobalLogic Japan, Ltd. (“GlobalLogic Japan”) is a Japanese affiliate of GlobalLogic Inc., which will be bought by Hitachi, Ltd. (TSE:6501, “Hitachi”) in July 2021. Today, Nojima Corporation (TSE:7419, “Nojima”) announced their alliance. The collaboration aims to hasten Nojima’s Digital Transformation (“DX”) strategy’s creation and application.
● In April 2021, Amazon Web Services rolled out its ‘Amazon Lookout for Equipment’, which is a predictive maintenance solution. Furthermore, it uses machine learning to assist in scheduling maintenance work for various equipment with the use of sensors.
● In July 2021, Schneider Electric produced EcoStruxtureTM TriconexTM Safety View. This is the first binary safety-and-cybersecurity-certified alarm and bypass operation software with an assiduity feature, which enables drivers to get access to both bypass statuses. These bypasses ensure effective and safe factory operation when pitfalls are comparatively high.
Thanks for reading this article, you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
Other Trending Reports:
● IT Asset Disposition Market
● Blockchain in Gaming Market
About Us:
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
David Correa
Allied Market Research
+ + 1 800-792-5285
email us here
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