Global Operational Predictive Maintenance Market Forecast and Analysis (2020-2027)
- POSTED ON Thursday, June 10, 2021
Global Operational Predictive Maintenance Market was valued at USD xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of xx% over the forecast period 2020-2027.
The report covers an in-depth analysis of COVID-19 pandemic impact on Global Operational Predictive Maintenance Market by region and on the key players revenue affected till July 2020 and expected short term and long-term impact on the market.
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Operational predictive maintenance software can retrieve several data sources in real time to predict quality problems or asset loss. The implementation of these technological technologies would make it easier for companies to avoid downtime and reduce maintenance costs. Operational predictive analysis systems identify failure trends and small irregularities in the determination of properties and operating processes that are at the highest risk of failure.
Operational predictive maintenance software increases equipment uptime and improves supply chain processes and efficiency. One of the main factors in increasing the use of these software solutions is their ability to reliably foresee asset loss, allowing businesses to take the asset out of production, resulting in an efficient supply chain. For instance, In May 2019, Microsoft partnered with NXP Semiconductors to offer AI and ML anomaly detection capabilities to Azure IoT users. The two companies jointly released the latest Anomaly Detection Technology for Azure IoT. The solution included predictive maintenance functionality for rotating parts, presence detection and intrusion detection to avoid failures and minimise downtime to increase efficiency and device safety.
The increasing adoption of enterprise business features by cloud-based Software as a Service (SaaS) providers has increased the need to incorporate multiple application providers and services to serve the enterprise. Cloud-based operational predictive maintenance solutions market is projected to show the fastest growth enabling businesses to reduce their reliance on data mining, data integration and IT specialists. However, lack of preparation for operators and lack of faith in predictive maintenance technologies are hindering the growth of the industry. Growing demand for real-time steaming analytics and increasing demand from small and medium-sized enterprises (SMEs) is expected to generate huge opportunities for companies operating in the operational predictive maintenance industry.
Global Operational Predictive Maintenance Market is segmented by Offering, by deployment, industry vertical, and organization size and by region. By Offering, Solutionisanticipated to account for a major share during the forecast period in 2019 and is expected to keep its dominance over the forecast period owing to the increasing tablet and smartphone ownership along with enormous product growth.In the upcoming years, the increasing need for solution offerings to handle and further synchronise with several different channels using a single console is expected to boost the growth.
By deployment, cloud-based held the highest market share in 2019 due to the agile, smooth, scalable, and inexpensive characteristics, which was easily incorporated by different businesses in the corporate landscape. The growth of the cloud-based applications is due to the penetration of internet-of-things applications.
By industry vertical, IT & telecommunications segment held the highest market share in 2019 and is expected to keep its dominance over the forecast period. Due to the rising improved awareness about the use of organizational mobility tools to complement unified communications and collaboration systems capabilities.
By organization size, large organization segment held the largest market share due to the large investments on requirements on the Operational Predictive Maintenance.
By region global Operational Predictive Maintenance market is segmented into North America, APAC, Europe, MEA& Africa and South Africa. Among these,North America held the highest market share of xx% in 2019 and is expected to keep its dominance over the forecast period owing to the growing demand across various end-user industries for advanced technology in this region. In addition to that, rising BYOD penetration, deployment of 5G, growing adoption of smartphone. The service in the market in APAC is forecasted to expand a significant pace on account of the growing penetration of internet as well as digitization in countries such as India, China, Korea, etc.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Operational Predictive Maintenance Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Operational Predictive Maintenance Market dynamics, structure by analyzing the market segments and project Global Operational Predictive Maintenance MarketClear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Operational Predictive Maintenance Market the report investor’s guide.
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Global Operational Predictive Maintenance Market, by Offering
• Solution• ServicesGlobal Operational Predictive Maintenance Market, by Deployment
• On-Premise• Cloud-basedGlobal Operational Predictive Maintenance Market, by Industry Vertical
• Banking, Financial Services & Insurance• IT & Telecommunications• Travel and Transportation• Manufacturing• Retail• Government• Construction• Chemicals• Food and Beverage• Retail• OthersGlobal Operational Predictive Maintenance Market, by Organization Size
• Large Enterprises• Small and Medium EnterprisesGlobal Operational Predictive Maintenance Market, by Region
• North America• APAC• Europe• ME & Africa• Latin AmericaGlobal Operational Predictive Maintenance Market Major Players
• IBM Corporation• Microsoft• SAP SE• Hitachi• PTC• GENERAL ELECTRIC• Schneider Electric• Software AG• SAS Institute Inc• TIBCO Software Inc.• C3.ai, Inc• Uptake Technologies Inc• Softweb Solutions Inc• Asystom• Ecolibrium Energy• Fiix Software• OPEX Group• Sigma Industrial Precision• Google LLC• Amazon Web Services, Inc• Micro Focus• Splunk• RapidMiner• Seebo Interactive LTD
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