Industrial Predictive Maintenance Market in APAC by End-user, Deployment, and Geography - Forecast and Analysis 2022-2026

Published: Mar 2022 Pages: 120 SKU: IRTNTR73013

The industrial predictive maintenance market share in APAC is expected to increase by USD 7.44 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 34.71%.

This industrial predictive maintenance market in APAC research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the industrial predictive maintenance market in APAC segmentation by End-user (oil and gas, chemical and petrochemical, aerospace and defense, power generation, and others), deployment (cloud and on-premises), and geography (China, Japan, India, and Rest of APAC). The industrial predictive maintenance market in APAC report also offers information on several market vendors, including General Electric Co., Huawei Investment and Holding Co. Ltd., International Business Machines Corp., Oracle Corp., Robert Bosch GmbH, SAP SE, SAS Institute Inc., Siemens AG, Splunk Inc., and TIBCO Software Inc. among others.

What will the Industrial Predictive Maintenance Market Size in APAC be During the Forecast Period?

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Industrial Predictive Maintenance Market in APAC: Key Drivers, Trends, and Challenges

The developments in customized industrial predictive maintenance is notably driving the industrial predictive maintenance market in APAC, although factors such as low investments in the latest machinery and measuring equipment may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial predictive maintenance industry in APAC. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial Predictive Maintenance Market Driver in APAC

One of the key factors driving the global industrial predictive maintenance market growth is the developments in customized industrial predictive maintenance. Countries such as China, Japan, and South Korea are leading the automation industry in the region, which is creating opportunities for the growth of the industrial predictive maintenance market in APAC. The rise in the adoption of advanced technologies, such as IoT, industrial IoT (IIoT), AI, and big data, as well as investments in improving product quality and production assets in APAC, are expected to lead to the increased adoption of industrial predictive maintenance during the forecast period. Therefore, vendors such as SAP SE, International Business Machines Corp., and Oracle Corp. provide custom-made industrial predictive maintenance solutions and services based on the needs of specific end-users, which will protect their critical equipment and enable them to gain a competitive edge in productivity.

Key Industrial Predictive Maintenance Market Trend in APAC

Shift from reactive to predictive maintenance is one of the key industrial predictive maintenance market trends that is expected to impact the industry positively in the forecast period. The integration of business information along with sensor data and enterprise asset management (EAM) systems is allowing end-user industries to move away from reactive and shift to predictive maintenance services and solutions. The development of IoT solutions that use real-time machinery data to determine the operational efficiency and condition of the equipment, with the support of sophisticated analytics, helps to predict failures early, unlike preventive maintenance. The disadvantages associated with preventive maintenance are the key factors for the shift to predictive maintenance, as preventive maintenance does not prevent catastrophic failures, is labor-intensive, and needs unnecessary maintenance, which causes damage to equipment and components. Such factors will further support the market growth during the forecast years.

Key Industrial Predictive Maintenance Market Challenge in APAC

One of the key challenges to the global industrial predictive maintenance market growth is the low investments in the latest machinery and measuring equipment. Industrial predictive maintenance requires that the software solutions and services exhibit better performance and have a better impact on industrial assets and production. In addition, there are difficulties in retrofitting existing and older industrial machinery with sensors and monitoring equipment. End-user industries such as oil and gas, chemical and petrochemical, and power generation generally still operate using older machinery, which will, in turn, hamper the adoption of predictive maintenance solutions and services. Moreover, the adoption of industrial predictive maintenance is currently low in developing countries such as India, China, Indonesia, and Malaysia due to the lack of awareness. Hence, low investments may hinder the market growth during the forecast period.

This industrial predictive maintenance market in APAC analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the industrial predictive maintenance market in APAC as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial predictive maintenance market in APAC during the forecast period.

Who are the Major Industrial Predictive Maintenance Market Vendors in APAC?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • General Electric Co.
  • Huawei Investment and Holding Co. Ltd.
  • International Business Machines Corp.
  • Oracle Corp.
  • Robert Bosch GmbH
  • SAP SE
  • SAS Institute Inc.
  • Siemens AG
  • Splunk Inc.
  • TIBCO Software Inc.

 

This statistical study of the industrial predictive maintenance market in APAC encompasses successful business strategies deployed by the key vendors. The industrial predictive maintenance market in APAC is fragmented and the vendors are deploying growth strategies such as the expansion of product portfolios to compete in the market.

Product Insights and News

  • General Electric Co. - The company offers solutions for industrial predictive maintenance that optimizes the performance of assets to increase reliability and availability, minimize costs, and reduce operational risks.
  • General Electric Co. - Under the power segment, the company offers a range of technologies and solutions related to energy production, including gas and steam turbines, engines, generators, high voltage equipment, power generation services, and digital solutions.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial predictive maintenance market in APAC forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Industrial Predictive Maintenance Market in APAC Value Chain Analysis

Our report provides extensive information on the value chain analysis for the industrial predictive maintenance market in APAC, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global industrial machinery market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Aftermarket and service
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Industrial Predictive Maintenance Market in APAC?

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43% of the market's growth will originate from China during the forecast period. Market growth in China will be faster than the growth of the market in Japan.

Rapid growth in IoT applications and rising opportunities for research and development (R&D) will put the above end-user industries in a superior position in China, which will facilitate the industrial predictive maintenance market growth in China over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had a negative impact on the industrial predictive maintenance market in APAC in 2020. The pandemic resulted in numerous deaths in China, prompting stringent nationwide lockdowns in the country. This had a significant impact on various industries that use industrial predictive maintenance solutions in the country as they were compelled to shut down temporarily. However, in 2021, due to the availability of COVID-19 vaccines and the large-scale vaccination drives carried out by the government, industrial activities gradually resumed and reached normal levels, which will lead to the growth of the market in China during the forecast period.

What are the Revenue-generating End-user Segments in the Industrial Predictive Maintenance Market in APAC?

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The industrial predictive maintenance market share growth in APAC by the oil and gas segment will be significant during the forecast period. The increasing awareness of various industrial operations among end-user industries will have a significant impact on the growth of the industrial predictive maintenance market in the oil and gas industry in APAC during the forecast years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial predictive maintenance market size in APAC and actionable market insights on post COVID-19 impact on each segment.

 

Industrial Predictive Maintenance Market Scope in APAC

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 34.71%

Market growth 2022-2026

$ 7.44 billion

Market structure

Fragmented

YoY growth (%)

24.46

Regional analysis

APAC

Performing market contribution

China at 43%

Key consumer countries

 China, Japan, India, and Rest of APAC

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

General Electric Co., Huawei Investment and Holding Co. Ltd., International Business Machines Corp., Oracle Corp., Robert Bosch GmbH, SAP SE, SAS Institute Inc., Siemens AG, Splunk Inc., and TIBCO Software Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Industrial Predictive Maintenance Market in APAC Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive industrial predictive maintenance market growth in APAC during the next five years
  • Precise estimation of the industrial predictive maintenance market size in APAC and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial predictive maintenance industry in APAC  
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial predictive maintenance market vendors in APAC 

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***1. Executive Summary                         

               **1.1 Market Overview 

                              *Exhibit 01:  Key Finding 1

                              *Exhibit 02:  Key Finding 2

                              *Exhibit 03:  Key Finding 3

                              *Exhibit 04:  Key Finding 5

                              *Exhibit 05:  Key Finding 6

                              *Exhibit 06:  Key Finding 7

                              *Exhibit 07:  Key Finding 8

***2. Market Landscape                            

               **2.1 Market ecosystem             

                              *2.1.1    Parent market

                              *Exhibit 08:  Parent market

                              *Exhibit 09:  Market Characteristics

               **2.2 Value chain analysis           

                              *Exhibit 10:  Value chin analysis: Industrial Machinery

                              *2.2.1    Inputs

                              *2.2.2    Inbound logistics

                              *2.2.3    Operations

                              *2.2.4    Outbound logistics

                              *2.2.5    Marketing and sales

                              *2.2.6    Aftermarket and service

                              *2.2.7    Industry innovations

***3. Market Sizing                      

               **3.1 Market definition

                              *Exhibit 11:  Offerings of vendors included in the market definition

               **3.2 Market segment analysis  

                              *Exhibit 12:  Market segments

               **3.3 Market size 2021 

               **3.4 Market outlook: Forecast for 2021 - 2026 

                              *3.4.1 Estimating growth rates for emerging and high-growth markets

                              *3.4.2 Estimating growth rates for mature markets

                              *Exhibit 13:  Global - Market size and forecast 2021 - 2026 ($ million)

                              *Exhibit 14:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                         

               **4.1 Five Forces Summary         

                              *Exhibit 15: Five forces analysis 2021 & 2026

               **4.2 Bargaining power of buyers            

                              *Exhibit 16: Bargaining power of buyers

               **4.3 Bargaining power of suppliers        

                              *Exhibit 17: Bargaining power of suppliers

               **4.4 Threat of new entrants     

                              *Exhibit 18: Threat of new entrants

               **4.5 Threat of substitutes          

                              *Exhibit 19: Threat of substitutes

               **4.6 Threat of rivalry   

                              *Exhibit 20: Threat of rivalry

               **4.7 Market condition 

                              *Exhibit 21:  Market condition - Five forces 2021

***5. Market Segmentation by End-user                            

               **5.1 Market segments

                              *The segments covered in this chapter are:

  • *Oil and gas
  • *Chemical and petrochemical
  • *Aerospace and defense
  • *Power generation
  • *Others

 

                              *Exhibit 22:  End-user - Market share 2021-2026 (%)

               **5.2     Comparison by End-user              

                              *Exhibit 23:  Comparison by End-user

               **5.3     Oil and gas - Market size and forecast 2021-2026              

                              *Exhibit 24:  Oil and gas - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 25:  Oil and gas - Year-over-year growth 2021-2026 (%)

               **5.4     Chemical and petrochemical - Market size and forecast 2021-2026           

                              *Exhibit 26:  Chemical and petrochemical - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 27:  Chemical and petrochemical - Year-over-year growth 2021-2026 (%)

               **5.5     Aerospace and defense - Market size and forecast 2021-2026      

                              *Exhibit 28:  Aerospace and defense - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 29:  Aerospace and defense - Year-over-year growth 2021-2026 (%)

               **5.6     Power generation - Market size and forecast 2021-2026 

                              *Exhibit 30:  Power generation - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 31:  Power generation - Market size and forecast 2021-2026 ($ million)

               **5.7     Others - Market size and forecast 2021-2026       

                              *Exhibit 32:  Others - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 33:  Others - Year-over-year growth 2021-2026 (%)

               **5.8     Market opportunity by End-user               

                              *Exhibit 34:  Market opportunity by End-user

***6. Market Segmentation by Deployment                     

               **6.1 Market segments

                              *The segments covered in this chapter are:

  • *Cloud
  • *On-premises

 

                              *Exhibit 35:  Deployment - Market share 2021-2026 (%)

               **6.2     Comparison by Deployment        

                              *Exhibit 36:  Comparison by Deployment

               **6.3     Cloud - Market size and forecast 2021-2026        

                              *Exhibit 37:  Cloud - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 38:  Cloud - Year-over-year growth 2021-2026 (%)

               **6.4     On-premises - Market size and forecast 2021-2026          

                              *Exhibit 39:  On-premises - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 40:  On-premises - Year-over-year growth 2021-2026 (%)

               **6.5     Market opportunity by Deployment        

                              *Exhibit 41:  Market opportunity by Deployment

***7. Customer landscape                        

               **7.1 Overview

                              *Exhibit 42:  Customer landscape

***8. Geographic Landscape                    

               **8.1 Geographic segmentation

                              *The regions covered in the report are:

  • *China
  • *Japan
  • *India
  • *Rest of APAC

 

                              *Exhibit 43:  Market share by geography 2021-2026 (%)

               **8.2 Geographic comparison    

                              *Exhibit 44:  Geographic comparison

               **8.3     China - Market size and forecast 2021-2026         

                              *Exhibit 45:  China - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 46:  China - Year-over-year growth 2021-2026 (%)

               **8.4     Japan - Market size and forecast 2021-2026         

                              *Exhibit 47:  Japan - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 48:  Japan - Year-over-year growth 2021-2026 (%)

               **8.5     India - Market size and forecast 2021-2026          

                              *Exhibit 49:  India - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 50:  India - Year-over-year growth 2021-2026 (%)

               **8.6     Rest of APAC - Market size and forecast 2021-2026          

                              *Exhibit 51:  Rest of APAC - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 52:  Rest of APAC - Year-over-year growth 2021-2026 (%)

               **8.7     Market opportunity by geography           

                              *Exhibit 53:  Market opportunity by geography ($ million)

***9. Drivers, Challenges, and Trends                  

               **9.1 Market drivers      

                              *9.1.1    Developments in customized industrial predictive maintenance

                              *9.1.2    Adoption of industrial predictive maintenance with increasing manufacturing activities

                              *9.1.3    Initiatives to prevent downtime with cost-effective solutions

               **9.2 Market challenges              

                              *9.2.1    Low investments in the latest machinery and measuring equipment

                              *9.2.2    Requirement of skilled staff to interpret data

                              *9.2.3    Data security-related issues

                              *Exhibit 54:  Impact of drivers and challenges

               **9.3 Market trends      

                              *9.3.1    Shift from reactive to predictive maintenance

                              *9.3.2    Higher growth potential of cloud-based industrial predictive maintenance in Southeast Asian countries

                              *9.3.3    Need for real-time monitoring and growth of IoT

***10. Vendor Landscape                         

               **10.1 Overview             

                              *Exhibit 55:  Vendor landscape

               **10.2 Landscape disruption      

                              *Exhibit 56:  Landscape disruption

                              *Exhibit 57:  Industry risks

               **10.3   Competitive Scenario     

***11. Vendor Analysis               

               **11.1 Vendors covered              

                              *Exhibit 58:  Vendors covered

               **11.2 Market positioning of vendors    

                              *Exhibit 59:  Market positioning of vendors

               **11.3   General Electric Co.       

                              *Exhibit 60:  General Electric Co. - Overview

                              *Exhibit 61:  General Electric Co. - Business segments

                              *Exhibit 62:  General Electric Co. - Key offerings

                              *Exhibit 63:  General Electric Co. – Key news

                              *Exhibit 64:  General Electric Co. - Segment focus

               **11.4   Huawei Investment and Holding Co. Ltd.

                              *Exhibit 65:  Huawei Investment and Holding Co. Ltd. - Overview

                              *Exhibit 66:  Huawei Investment and Holding Co. Ltd. - Business segments

                              *Exhibit 67:  Huawei Investment and Holding Co. Ltd. - Key offerings

                              *Exhibit 68:  Huawei Investment and Holding Co. Ltd. – Key news

                              *Exhibit 69:  Huawei Investment and Holding Co. Ltd. - Segment focus

               **11.5   International Business Machines Corp.   

                              *Exhibit 70:  International Business Machines Corp. - Overview

                              *Exhibit 71:  International Business Machines Corp. - Business segments

                              *Exhibit 72:  International Business Machines Corp. - Key offerings

                              *Exhibit 73:  International Business Machines Corp. – Key news

                              *Exhibit 74:  International Business Machines Corp. - Segment focus

               **11.6   Oracle Corp.      

                              *Exhibit 75:  Oracle Corp. - Overview

                              *Exhibit 76:  Oracle Corp. - Business segments

                              *Exhibit 77:  Oracle Corp. - Key offerings

                              *Exhibit 78:  Oracle Corp. – key news

                              *Exhibit 79:  Oracle Corp. - Segment focus

               **11.7   Robert Bosch GmbH       

                              *Exhibit 80:  Robert Bosch GmbH - Overview

                              *Exhibit 81:  Robert Bosch GmbH - Business segments

                              *Exhibit 82:  Robert Bosch GmbH - Key offerings

                              *Exhibit 83:  Robert Bosch GmbH – Key news

                              *Exhibit 84:  Robert Bosch GmbH - Segment focus

               **11.8   SAP SE  

                              *Exhibit 85:  SAP SE - Overview

                              *Exhibit 86:  SAP SE - Business segments

                              *Exhibit 87:  SAP SE - Key offerings

                              *Exhibit 88:  SAP Se – Key news

                              *Exhibit 89:  SAP SE - Segment focus

               **11.9   SAS Institute Inc.             

                              *Exhibit 90:  SAS Institute Inc. - Overview

                              *Exhibit 91:  SAS Institute Inc. - Product and service

                              *Exhibit 92:  SAS Institute Inc. - Key offerings

               **11.10 Siemens AG      

                              *Exhibit 93:  Siemens AG - Overview

                              *Exhibit 94:  Siemens AG - Business segments

                              *Exhibit 95:  Siemens AG - Key offerings

                              *Exhibit 96:  Siemens AG – Key news

                              *Exhibit 97:  Siemens AG - Segment focus

               **11.11 Splunk Inc.        

                              *Exhibit 98:  Splunk Inc. - Overview

                              *Exhibit 99:  Splunk Inc. - Product and service

                              *Exhibit 100:  Splunk Inc. - Key offerings

              

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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