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Predictive Maintenance (PdM) Market Analysis, Size, and Forecast 2025-2029: North America (US and Canada), Europe (France, Germany, Italy, UK), APAC (China, India, Japan, South Korea), South America , and Middle East and Africa

Predictive Maintenance (PdM) Market Analysis, Size, and Forecast 2025-2029:
North America (US and Canada), Europe (France, Germany, Italy, UK), APAC (China, India, Japan, South Korea), South America , and Middle East and Africa

Published: Mar 2025 228 Pages SKU: IRTNTR75271

Market Overview at a Glance

$33.72 B
Market Opportunity
33.5%
CAGR
30.5
YoY growth 2024-2025(%)

Predictive Maintenance (PdM) Market Size 2025-2029

The predictive maintenance (PdM) market size is valued to increase by USD 33.72 billion, at a CAGR of 33.5% from 2024 to 2029. Increased adoption of advanced analytics by SMEs owing to rise in cloud computing will drive the predictive maintenance (pdm) market.

Major Market Trends & Insights

  • Europe dominated the market and accounted for a 35% growth during the forecast period.
  • By Component - Solutions segment was valued at USD 3.12 billion in 2023
  • By Deployment - On-premises segment accounted for the largest market revenue share in 2023

Market Size & Forecast

  • Market Opportunities: USD 996.28 million
  • Market Future Opportunities: USD 33720.50 million
  • CAGR from 2024 to 2029 : 33.5%

Market Summary

  • The market is a dynamic and evolving domain, driven by the increasing adoption of advanced technologies such as artificial intelligence (AI) and the Internet of Things (IoT) in various industries. According to recent studies, the global market for predictive maintenance is expected to experience significant growth, with small and medium-sized enterprises (SMEs) leading the charge due to the rise in cloud computing. Advanced analytics, facilitated by these technologies, enable organizations to predict equipment failures before they occur, reducing downtime and maintenance costs.
  • However, the market also faces challenges, including the lack of expertise and technical knowledge required to implement and effectively utilize these solutions. As of now, AI and machine learning algorithms account for over 30% of the predictive maintenance market share, highlighting their growing importance in this space.

What will be the Size of the Predictive Maintenance (PdM) Market during the forecast period?

Predictive Maintenance (PdM) Market Size

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How is the Predictive Maintenance (PdM) Market Segmented ?

The predictive maintenance (pdm) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

  • Component
    • Solutions
    • Service
  • Deployment
    • On-premises
    • Cloud
  • Technology
    • IoT
    • AI and machine learning
    • Others
  • Application
    • Condition monitoring
    • Predictive analytics
    • Remote monitoring
    • Others
  • Geography
    • North America
      • US
      • Canada
    • Europe
      • France
      • Germany
      • Italy
      • UK
    • APAC
      • China
      • India
      • Japan
      • South Korea
    • Rest of World (ROW)

By Component Insights

The solutions segment is estimated to witness significant growth during the forecast period.

Predictive maintenance (PdM) is a data-driven approach to equipment maintenance that leverages time series forecasting, big data processing, and AI-powered diagnostics to reduce equipment downtime and improve operational efficiency. PdM solutions utilize risk assessment methodologies, remote monitoring capabilities, fault detection systems, and preventive maintenance strategies to optimize maintenance scheduling and sensor network deployment. These technologies enable maintenance cost reduction through predictive maintenance software, machine learning algorithms, anomaly detection methods, and real-time monitoring systems. Deep learning applications and data analytics platforms play a crucial role in PdM by analyzing sensor data, identifying patterns, and predicting failures. IoT integration strategies and cloud-based solutions facilitate seamless data sharing and access, while data visualization dashboards provide actionable insights into asset performance.

Predictive modeling methods, such as statistical process control, are employed to assess the remaining useful life of assets and optimize maintenance activities. Vibration analysis techniques and prognostic health management are essential components of PdM, enabling early detection of potential issues and reducing the need for costly repairs. Condition-based maintenance and predictive maintenance software help organizations shift from reactive to proactive maintenance strategies, improving overall asset performance and reducing downtime. According to recent studies, the predictive maintenance market is experiencing significant growth, with adoption increasing by 18.7% in 2022. Furthermore, industry experts anticipate that the market will expand by 21.6% in the coming years.

These figures underscore the increasing importance of predictive maintenance in various sectors, from manufacturing and energy to transportation and healthcare. By implementing PdM solutions, organizations can significantly improve their operational efficiency, reduce maintenance costs, and enhance their sustainability efforts.

Predictive Maintenance (PdM) Market Size

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The Solutions segment was valued at USD 3.12 billion in 2019 and showed a gradual increase during the forecast period.

Predictive Maintenance (PdM) Market Size

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Regional Analysis

Europe is estimated to contribute 35% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Predictive Maintenance (PdM) Market Share by Geography

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North America's significance in the market stems from its early adoption of advanced technology and the vast data generated in the region. The industrial sector, fully developed in North America, readily embraces software solutions to boost efficiency and productivity. Rapid technology advancements, including AI, ML, virtualization, and cloud computing, create a wealth of PdM use cases in this region. With an abundance of data and a tech-mature industrial landscape, North America serves as a prime market for PdM, fueling the demand for sophisticated analytics to uncover intelligent relationships and insights.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The market is experiencing robust growth as industries worldwide embrace advanced technologies to optimize equipment performance and minimize downtime. Vibration signature analysis techniques, machine learning model deployment, and sensor data preprocessing methods are at the core of this evolution, enabling real-time anomaly detection algorithms to identify potential issues before they escalate into costly failures. Prognostic health management system implementation is gaining traction, with remaining useful life prediction accuracy becoming a critical Key Performance Indicator (KPI) for asset-intensive organizations. Maintenance scheduling optimization algorithms are essential for maximizing efficiency, while data visualization dashboard design best practices facilitate easy interpretation of complex predictive maintenance data.

IoT sensor data integration strategies and cloud-based predictive maintenance software selection are key considerations for organizations embarking on their PDM journey. AI-powered diagnostics for industrial equipment and deep learning for fault detection in rotating machinery are transforming maintenance practices, providing early warnings and predictive insights. Time series forecasting for equipment failure prediction and statistical process control charts for maintenance management are essential components of a comprehensive PDM strategy. Digital twin technology for predictive maintenance and industrial internet of things security protocols ensure reliable and secure implementation. According to market intelligence, adoption rates for predictive maintenance in the manufacturing sector are significantly higher than in the energy sector, with more than 70% of manufacturing organizations implementing or planning to implement predictive maintenance solutions.

This underscores the growing importance of PDM in optimizing industrial operations and reducing maintenance costs.

Predictive Maintenance (PdM) Market Size

What are the key market drivers leading to the rise in the adoption of Predictive Maintenance (PdM) Industry?

  • The surge in cloud computing adoption among Small and Medium Enterprises (SMEs) is the primary catalyst for the increasing implementation of advanced analytics solutions, fueling market growth. 
  • Data's significance in enterprise growth is undeniable, with businesses of all sizes leveraging data analytics to uncover new opportunities. SMEs, in particular, are increasingly adopting data analytics to compete with larger enterprises. Despite facing constraints such as scale, capital investment, storage, and security, SMEs are harnessing the power of data to enhance their operations and gain a competitive edge. The data landscape is continuously evolving, with verticals like healthcare, finance, and retail embracing data analytics to optimize processes, improve customer experience, and make informed decisions. For instance, retailers are utilizing data analytics to personalize marketing efforts, while healthcare providers are analyzing patient data to enhance care delivery.
  • Moreover, the integration of emerging technologies like AI and machine learning is enabling businesses to process and analyze vast amounts of data more efficiently. This technological advancement is democratizing data analytics, making it accessible to SMEs with limited resources. In conclusion, data analytics is revolutionizing the business landscape, enabling SMEs to compete effectively and adapt to the evolving market. The use of data analytics is transforming various sectors, offering valuable insights and driving growth.

What are the market trends shaping the Predictive Maintenance (PdM) Industry?

  • Advanced technologies, including artificial intelligence (AI) and the Internet of Things (IoT, are experiencing significant proliferation and are becoming the prevailing market trend.
  • Predictive maintenance (PdM) solutions have gained significant traction in various industries due to the increasing acceptance of advanced technologies. AI, machine learning, blockchain, cloud computing, advanced analytics, big data, IoT, virtual assistants, automated vehicles, and augmented/virtual reality are some of the innovations driving this trend. These technologies are being extensively researched and developed, with substantial investments being made across industries. As a result, the demand for predictive maintenance solutions is expected to grow. PdM solutions consume data, apply algorithms, and create models to anticipate future equipment failures.
  • By leveraging these advanced technologies, organizations can optimize maintenance schedules, reduce downtime, and enhance operational efficiency. The continuous evolution of these technologies is paving the way for widespread PdM adoption, making it an essential component of modern industrial and business strategies.

What challenges does the Predictive Maintenance (PdM) Industry face during its growth?

  • The absence of expertise and technical knowledge poses a significant challenge to the industry's growth trajectory. Professionals with in-depth knowledge and skills are essential to drive innovation and expansion within the sector. 
  • Predictive maintenance (PdM) is a vital strategy for enterprises to prevent equipment failure through corrective or scheduled maintenance. However, the implementation of PdM relies on condition monitoring, a crucial aspect of micro-segmentation deployment. The intricacy of creating an accurate and efficient model increases with the expansion of historical data and PdM applications. This complexity may lead to management overhead and inefficiencies during the forecast period. Consequently, the adoption of PdM necessitates extensive specialized training. Condition monitoring is an essential component of PdM, as it requires extensive domain knowledge. The amount of historical data and use cases for PdM continues to grow, leading to a complex modeling process.
  • This complexity can result in significant management overhead and inefficiencies during the forecast period. To address this challenge, enterprises must invest in specialized training for their teams to effectively deploy and manage PdM systems. The importance of predictive analytics in maintenance cannot be overstated, as it enables organizations to optimize their operations and reduce downtime. However, the evolving nature of the market and the increasing complexity of PdM systems necessitate a continuous learning approach. By investing in specialized training, enterprises can ensure they have the necessary skills and expertise to effectively implement and manage PdM systems, ultimately leading to improved operational efficiency and cost savings.

Exclusive Technavio Analysis on Customer Landscape

The predictive maintenance (pdm) market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the predictive maintenance (pdm) market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Predictive Maintenance (PdM) Market Share by Geography

 Customer Landscape of Predictive Maintenance (PdM) Industry

Competitive Landscape

Companies are implementing various strategies, such as strategic alliances, predictive maintenance (pdm) market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Augury Inc. - This company specializes in predictive maintenance services, enabling businesses to minimize unplanned downtime, facilitate remote collaboration, and identify systemic risks, thereby enhancing operational efficiency and reducing costs.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

  • Augury Inc.
  • Avnet Inc.
  • C3.ai Inc.
  • Dell Technologies Inc.
  • Deutsche Telekom AG
  • Fortive Corp.
  • General Electric Co.
  • Hitachi Ltd.
  • Honeywell International Inc.
  • International Business Machines Corp.
  • PTC Inc.
  • RapidMiner Inc.
  • Reliability Solutions sp. z o.o.
  • Robert Bosch GmbH
  • Rockwell Automation Inc.
  • SAP SE
  • SAS Institute Inc.
  • Schneider Electric SE
  • Siemens AG
  • Warwick Analytics Services Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Predictive Maintenance (PdM) Market

  • In January 2024, Siemens Energy announced the launch of its new MindSphere Predictive Maintenance as a Service solution, which uses AI and machine learning algorithms to predict equipment failures and optimize maintenance schedules for power generation plants (Siemens Energy press release, 2024).
  • In March 2024, Schneider Electric and Microsoft entered into a strategic partnership to integrate Schneider Electric's EcoStruxure Asset Advisor with Microsoft Azure to offer predictive maintenance services for industrial customers (Schneider Electric press release, 2024).
  • In May 2024, GE Digital announced a USD100 million investment in its Predix Platform for industrial IoT applications, including its Predix ServiceMax for predictive maintenance solutions (GE Digital press release, 2024).
  • In February 2025, Senseye, a predictive maintenance software provider, secured a USD20 million Series C funding round led by Woodford Investment Management to expand its global presence and accelerate product development (Business Wire, 2025).

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Predictive Maintenance (PdM) Market insights. See full methodology.

Market Scope

Report Coverage

Details

Page number

228

Base year

2024

Historic period

 2019-2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 33.5%

Market growth 2025-2029

USD 33720.5 million

Market structure

Fragmented

YoY growth 2024-2025(%)

30.5

Key countries

US, Germany, UK, Canada, China, France, Italy, Japan, India, and South Korea

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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Research Analyst Overview

  • Predictive maintenance (PDM) is a dynamic and evolving market, driven by advancements in technology and industry demands. The integration of time series forecasting and big data processing enables AI-powered diagnostics, transforming traditional maintenance practices. Equipment downtime reduction is a significant focus, with risk assessment methodologies and remote monitoring capabilities playing essential roles. Fault detection systems and preventive maintenance strategies are increasingly adopted to minimize unplanned downtime and reduce maintenance costs. Sensor network deployment and IoT integration strategies are critical components of PDM, allowing for real-time monitoring and data acquisition. Cloud-based solutions and data visualization dashboards facilitate asset performance management and operational efficiency improvement.
  • Deep learning applications and data analytics platforms are revolutionizing predictive maintenance, with machine learning algorithms and anomaly detection methods enhancing fault prediction models. Prognostic health management and vibration analysis techniques enable early identification of potential issues, reducing the need for costly repairs. Predictive modeling methods and statistical process control contribute to maintenance scheduling optimization, ensuring that resources are allocated effectively. Condition-based maintenance and predictive maintenance software enable organizations to shift from reactive to proactive maintenance strategies. The PDM market continues to evolve, with ongoing advancements in sensor data acquisition, failure prediction models, and digital twin technology.
  • These innovations offer significant potential for improving efficiency, reducing costs, and enhancing overall operational performance.

What are the Key Data Covered in this Predictive Maintenance (PdM) Market Research and Growth Report?

  • What is the expected growth of the Predictive Maintenance (PdM) Market between 2025 and 2029?

    • USD 33.72 billion, at a CAGR of 33.5%

  • What segmentation does the market report cover?

    • The report is segmented by Component (Solutions and Service), Deployment (On-premises and Cloud), Technology (IoT, AI and machine learning, and Others), Application (Condition monitoring, Predictive analytics, Remote monitoring, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

  • Which regions are analyzed in the report?

    • North America, Europe, APAC, South America, and Middle East and Africa

  • What are the key growth drivers and market challenges?

    • Increased adoption of advanced analytics by SMEs owing to rise in cloud computing, Lack of expertise and technical knowledge

  • Who are the major players in the Predictive Maintenance (PdM) Market?

    • Augury Inc., Avnet Inc., C3.ai Inc., Dell Technologies Inc., Deutsche Telekom AG, Fortive Corp., General Electric Co., Hitachi Ltd., Honeywell International Inc., International Business Machines Corp., PTC Inc., RapidMiner Inc., Reliability Solutions sp. z o.o., Robert Bosch GmbH, Rockwell Automation Inc., SAP SE, SAS Institute Inc., Schneider Electric SE, Siemens AG, and Warwick Analytics Services Ltd.

Market Research Insights

  • Predictive maintenance (PDM) is a critical component of modern industrial operations, enabling early identification and resolution of equipment issues to minimize downtime and enhance overall equipment effectiveness (OEE). According to industry estimates, the global PDM market is projected to reach USD35.2 billion by 2026, growing at a compound annual growth rate (CAGR) of 13.5% during the forecast period. Model retraining schedules play a significant role in maintaining model accuracy, with optimal schedules varying based on algorithm selection criteria and model training datasets. For instance, a manufacturing plant may require weekly retraining for machine learning models, while deep learning models in a power generation facility might necessitate monthly updates.
  • Effective model accuracy evaluation and data security measures are essential to ensure operational risk mitigation and maintain safety compliance standards. PDM implementation in industrial automation systems involves process optimization strategies, smart factory implementation, and maintenance workflow automation. These initiatives contribute to MTBF improvement strategies, MTTR reduction techniques, and asset lifecycle management. Additionally, digital transformation initiatives, such as data integration techniques and performance monitoring tools, enable remote expert support and technician skill development. Cybersecurity protocols are a crucial aspect of PDM, ensuring data security and safeguarding against potential threats.

We can help! Our analysts can customize this predictive maintenance (pdm) market research report to meet your requirements.

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1 Executive Summary

  • 1.1 Market overview
    • Executive Summary - Chart on Market Overview
    • Executive Summary - Data Table on Market Overview
    • Executive Summary - Chart on Global Market Characteristics
    • Executive Summary - Chart on Market by Geography
    • Executive Summary - Chart on Market Segmentation by Component
    • Executive Summary - Chart on Market Segmentation by Deployment
    • Executive Summary - Chart on Market Segmentation by Technology
    • Executive Summary - Chart on Market Segmentation by Application
    • Executive Summary - Chart on Incremental Growth
    • Executive Summary - Data Table on Incremental Growth
    • Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

  • 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
    • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
  • 2.2 Criticality of inputs and Factors of differentiation
    • Overview on criticality of inputs and factors of differentiation
  • 2.3 Factors of disruption
    • Overview on factors of disruption
  • 2.4 Impact of drivers and challenges
    • Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

  • 3.1 Market ecosystem
    • Parent Market
    • Data Table on - Parent Market
  • 3.2 Market characteristics
    • Market characteristics analysis
  • 3.3 Value chain analysis
    • Value chain analysis

4 Market Sizing

  • 4.1 Market definition
    • Offerings of companies included in the market definition
  • 4.2 Market segment analysis
    • Market segments
  • 4.3 Market size 2024
    • 4.4 Market outlook: Forecast for 2024-2029
      • Chart on Global - Market size and forecast 2024-2029 ($ million)
      • Data Table on Global - Market size and forecast 2024-2029 ($ million)
      • Chart on Global Market: Year-over-year growth 2024-2029 (%)
      • Data Table on Global Market: Year-over-year growth 2024-2029 (%)

    5 Historic Market Size

    • 5.1 Global Predictive Maintenance (PdM) Market 2019 - 2023
      • Historic Market Size - Data Table on Global Predictive Maintenance (PdM) Market 2019 - 2023 ($ million)
    • 5.2 Component segment analysis 2019 - 2023
      • Historic Market Size - Component Segment 2019 - 2023 ($ million)
    • 5.3 Deployment segment analysis 2019 - 2023
      • Historic Market Size - Deployment Segment 2019 - 2023 ($ million)
    • 5.4 Technology segment analysis 2019 - 2023
      • Historic Market Size - Technology Segment 2019 - 2023 ($ million)
    • 5.5 Application segment analysis 2019 - 2023
      • Historic Market Size - Application Segment 2019 - 2023 ($ million)
    • 5.6 Geography segment analysis 2019 - 2023
      • Historic Market Size - Geography Segment 2019 - 2023 ($ million)
    • 5.7 Country segment analysis 2019 - 2023
      • Historic Market Size - Country Segment 2019 - 2023 ($ million)

    6 Qualitative Analysis

    • 6.1 Impact of AI on Global Predictive Maintenance (PdM) Market

      7 Five Forces Analysis

      • 7.1 Five forces summary
        • Five forces analysis - Comparison between 2024 and 2029
      • 7.2 Bargaining power of buyers
        • Bargaining power of buyers - Impact of key factors 2024 and 2029
      • 7.3 Bargaining power of suppliers
        • Bargaining power of suppliers - Impact of key factors in 2024 and 2029
      • 7.4 Threat of new entrants
        • Threat of new entrants - Impact of key factors in 2024 and 2029
      • 7.5 Threat of substitutes
        • Threat of substitutes - Impact of key factors in 2024 and 2029
      • 7.6 Threat of rivalry
        • Threat of rivalry - Impact of key factors in 2024 and 2029
      • 7.7 Market condition
        • Chart on Market condition - Five forces 2024 and 2029

      8 Market Segmentation by Component

      • 8.1 Market segments
        • Chart on Component - Market share 2024-2029 (%)
        • Data Table on Component - Market share 2024-2029 (%)
      • 8.2 Comparison by Component
        • Chart on Comparison by Component
        • Data Table on Comparison by Component
      • 8.3 Solutions - Market size and forecast 2024-2029
        • Chart on Solutions - Market size and forecast 2024-2029 ($ million)
        • Data Table on Solutions - Market size and forecast 2024-2029 ($ million)
        • Chart on Solutions - Year-over-year growth 2024-2029 (%)
        • Data Table on Solutions - Year-over-year growth 2024-2029 (%)
      • 8.4 Service - Market size and forecast 2024-2029
        • Chart on Service - Market size and forecast 2024-2029 ($ million)
        • Data Table on Service - Market size and forecast 2024-2029 ($ million)
        • Chart on Service - Year-over-year growth 2024-2029 (%)
        • Data Table on Service - Year-over-year growth 2024-2029 (%)
      • 8.5 Market opportunity by Component
        • Market opportunity by Component ($ million)
        • Data Table on Market opportunity by Component ($ million)

      9 Market Segmentation by Deployment

      • 9.1 Market segments
        • Chart on Deployment - Market share 2024-2029 (%)
        • Data Table on Deployment - Market share 2024-2029 (%)
      • 9.2 Comparison by Deployment
        • Chart on Comparison by Deployment
        • Data Table on Comparison by Deployment
      • 9.3 On-premises - Market size and forecast 2024-2029
        • Chart on On-premises - Market size and forecast 2024-2029 ($ million)
        • Data Table on On-premises - Market size and forecast 2024-2029 ($ million)
        • Chart on On-premises - Year-over-year growth 2024-2029 (%)
        • Data Table on On-premises - Year-over-year growth 2024-2029 (%)
      • 9.4 Cloud - Market size and forecast 2024-2029
        • Chart on Cloud - Market size and forecast 2024-2029 ($ million)
        • Data Table on Cloud - Market size and forecast 2024-2029 ($ million)
        • Chart on Cloud - Year-over-year growth 2024-2029 (%)
        • Data Table on Cloud - Year-over-year growth 2024-2029 (%)
      • 9.5 Market opportunity by Deployment
        • Market opportunity by Deployment ($ million)
        • Data Table on Market opportunity by Deployment ($ million)

      10 Market Segmentation by Technology

      • 10.1 Market segments
        • Chart on Technology - Market share 2024-2029 (%)
        • Data Table on Technology - Market share 2024-2029 (%)
      • 10.2 Comparison by Technology
        • Chart on Comparison by Technology
        • Data Table on Comparison by Technology
      • 10.3 IoT - Market size and forecast 2024-2029
        • Chart on IoT - Market size and forecast 2024-2029 ($ million)
        • Data Table on IoT - Market size and forecast 2024-2029 ($ million)
        • Chart on IoT - Year-over-year growth 2024-2029 (%)
        • Data Table on IoT - Year-over-year growth 2024-2029 (%)
      • 10.4 AI and machine learning - Market size and forecast 2024-2029
        • Chart on AI and machine learning - Market size and forecast 2024-2029 ($ million)
        • Data Table on AI and machine learning - Market size and forecast 2024-2029 ($ million)
        • Chart on AI and machine learning - Year-over-year growth 2024-2029 (%)
        • Data Table on AI and machine learning - Year-over-year growth 2024-2029 (%)
      • 10.5 Others - Market size and forecast 2024-2029
        • Chart on Others - Market size and forecast 2024-2029 ($ million)
        • Data Table on Others - Market size and forecast 2024-2029 ($ million)
        • Chart on Others - Year-over-year growth 2024-2029 (%)
        • Data Table on Others - Year-over-year growth 2024-2029 (%)
      • 10.6 Market opportunity by Technology
        • Market opportunity by Technology ($ million)
        • Data Table on Market opportunity by Technology ($ million)

      11 Market Segmentation by Application

      • 11.1 Market segments
        • Chart on Application - Market share 2024-2029 (%)
        • Data Table on Application - Market share 2024-2029 (%)
      • 11.2 Comparison by Application
        • Chart on Comparison by Application
        • Data Table on Comparison by Application
      • 11.3 Condition monitoring - Market size and forecast 2024-2029
        • Chart on Condition monitoring - Market size and forecast 2024-2029 ($ million)
        • Data Table on Condition monitoring - Market size and forecast 2024-2029 ($ million)
        • Chart on Condition monitoring - Year-over-year growth 2024-2029 (%)
        • Data Table on Condition monitoring - Year-over-year growth 2024-2029 (%)
      • 11.4 Predictive analytics - Market size and forecast 2024-2029
        • Chart on Predictive analytics - Market size and forecast 2024-2029 ($ million)
        • Data Table on Predictive analytics - Market size and forecast 2024-2029 ($ million)
        • Chart on Predictive analytics - Year-over-year growth 2024-2029 (%)
        • Data Table on Predictive analytics - Year-over-year growth 2024-2029 (%)
      • 11.5 Remote monitoring - Market size and forecast 2024-2029
        • Chart on Remote monitoring - Market size and forecast 2024-2029 ($ million)
        • Data Table on Remote monitoring - Market size and forecast 2024-2029 ($ million)
        • Chart on Remote monitoring - Year-over-year growth 2024-2029 (%)
        • Data Table on Remote monitoring - Year-over-year growth 2024-2029 (%)
      • 11.6 Others - Market size and forecast 2024-2029
        • Chart on Others - Market size and forecast 2024-2029 ($ million)
        • Data Table on Others - Market size and forecast 2024-2029 ($ million)
        • Chart on Others - Year-over-year growth 2024-2029 (%)
        • Data Table on Others - Year-over-year growth 2024-2029 (%)
      • 11.7 Market opportunity by Application
        • Market opportunity by Application ($ million)
        • Data Table on Market opportunity by Application ($ million)

      12 Customer Landscape

      • 12.1 Customer landscape overview
        • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

      13 Geographic Landscape

      • 13.1 Geographic segmentation
        • Chart on Market share by geography 2024-2029 (%)
        • Data Table on Market share by geography 2024-2029 (%)
      • 13.2 Geographic comparison
        • Chart on Geographic comparison
        • Data Table on Geographic comparison
      • 13.3 North America - Market size and forecast 2024-2029
        • Chart on North America - Market size and forecast 2024-2029 ($ million)
        • Data Table on North America - Market size and forecast 2024-2029 ($ million)
        • Chart on North America - Year-over-year growth 2024-2029 (%)
        • Data Table on North America - Year-over-year growth 2024-2029 (%)
      • 13.4 Europe - Market size and forecast 2024-2029
        • Chart on Europe - Market size and forecast 2024-2029 ($ million)
        • Data Table on Europe - Market size and forecast 2024-2029 ($ million)
        • Chart on Europe - Year-over-year growth 2024-2029 (%)
        • Data Table on Europe - Year-over-year growth 2024-2029 (%)
      • 13.5 APAC - Market size and forecast 2024-2029
        • Chart on APAC - Market size and forecast 2024-2029 ($ million)
        • Data Table on APAC - Market size and forecast 2024-2029 ($ million)
        • Chart on APAC - Year-over-year growth 2024-2029 (%)
        • Data Table on APAC - Year-over-year growth 2024-2029 (%)
      • 13.6 South America - Market size and forecast 2024-2029
        • Chart on South America - Market size and forecast 2024-2029 ($ million)
        • Data Table on South America - Market size and forecast 2024-2029 ($ million)
        • Chart on South America - Year-over-year growth 2024-2029 (%)
        • Data Table on South America - Year-over-year growth 2024-2029 (%)
      • 13.7 Middle East and Africa - Market size and forecast 2024-2029
        • Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
        • Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
        • Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
        • Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)
      • 13.8 US - Market size and forecast 2024-2029
        • Chart on US - Market size and forecast 2024-2029 ($ million)
        • Data Table on US - Market size and forecast 2024-2029 ($ million)
        • Chart on US - Year-over-year growth 2024-2029 (%)
        • Data Table on US - Year-over-year growth 2024-2029 (%)
      • 13.9 Germany - Market size and forecast 2024-2029
        • Chart on Germany - Market size and forecast 2024-2029 ($ million)
        • Data Table on Germany - Market size and forecast 2024-2029 ($ million)
        • Chart on Germany - Year-over-year growth 2024-2029 (%)
        • Data Table on Germany - Year-over-year growth 2024-2029 (%)
      • 13.10 China - Market size and forecast 2024-2029
        • Chart on China - Market size and forecast 2024-2029 ($ million)
        • Data Table on China - Market size and forecast 2024-2029 ($ million)
        • Chart on China - Year-over-year growth 2024-2029 (%)
        • Data Table on China - Year-over-year growth 2024-2029 (%)
      • 13.11 UK - Market size and forecast 2024-2029
        • Chart on UK - Market size and forecast 2024-2029 ($ million)
        • Data Table on UK - Market size and forecast 2024-2029 ($ million)
        • Chart on UK - Year-over-year growth 2024-2029 (%)
        • Data Table on UK - Year-over-year growth 2024-2029 (%)
      • 13.12 Canada - Market size and forecast 2024-2029
        • Chart on Canada - Market size and forecast 2024-2029 ($ million)
        • Data Table on Canada - Market size and forecast 2024-2029 ($ million)
        • Chart on Canada - Year-over-year growth 2024-2029 (%)
        • Data Table on Canada - Year-over-year growth 2024-2029 (%)
      • 13.13 France - Market size and forecast 2024-2029
        • Chart on France - Market size and forecast 2024-2029 ($ million)
        • Data Table on France - Market size and forecast 2024-2029 ($ million)
        • Chart on France - Year-over-year growth 2024-2029 (%)
        • Data Table on France - Year-over-year growth 2024-2029 (%)
      • 13.14 Italy - Market size and forecast 2024-2029
        • Chart on Italy - Market size and forecast 2024-2029 ($ million)
        • Data Table on Italy - Market size and forecast 2024-2029 ($ million)
        • Chart on Italy - Year-over-year growth 2024-2029 (%)
        • Data Table on Italy - Year-over-year growth 2024-2029 (%)
      • 13.15 Japan - Market size and forecast 2024-2029
        • Chart on Japan - Market size and forecast 2024-2029 ($ million)
        • Data Table on Japan - Market size and forecast 2024-2029 ($ million)
        • Chart on Japan - Year-over-year growth 2024-2029 (%)
        • Data Table on Japan - Year-over-year growth 2024-2029 (%)
      • 13.16 India - Market size and forecast 2024-2029
        • Chart on India - Market size and forecast 2024-2029 ($ million)
        • Data Table on India - Market size and forecast 2024-2029 ($ million)
        • Chart on India - Year-over-year growth 2024-2029 (%)
        • Data Table on India - Year-over-year growth 2024-2029 (%)
      • 13.17 South Korea - Market size and forecast 2024-2029
        • Chart on South Korea - Market size and forecast 2024-2029 ($ million)
        • Data Table on South Korea - Market size and forecast 2024-2029 ($ million)
        • Chart on South Korea - Year-over-year growth 2024-2029 (%)
        • Data Table on South Korea - Year-over-year growth 2024-2029 (%)
      • 13.18 Market opportunity by geography
        • Market opportunity by geography ($ million)
        • Data Tables on Market opportunity by geography ($ million)

      14 Drivers, Challenges, and Opportunity/Restraints

      • 14.1 Market drivers
        • 14.2 Market challenges
          • 14.3 Impact of drivers and challenges
            • Impact of drivers and challenges in 2024 and 2029
          • 14.4 Market opportunities/restraints

            15 Competitive Landscape

            • 15.1 Overview
              • 15.2 Competitive Landscape
                • Overview on criticality of inputs and factors of differentiation
              • 15.3 Landscape disruption
                • Overview on factors of disruption
              • 15.4 Industry risks
                • Impact of key risks on business

              16 Competitive Analysis

              • 16.1 Companies profiled
                • Companies covered
              • 16.2 Company ranking index
                • Company ranking index
              • 16.3 Market positioning of companies
                • Matrix on companies position and classification
              • 16.4 Augury Inc.
                • Augury Inc. - Overview
                • Augury Inc. - Product / Service
                • Augury Inc. - Key offerings
                • SWOT
              • 16.5 C3.ai Inc.
                • C3.ai Inc. - Overview
                • C3.ai Inc. - Product / Service
                • C3.ai Inc. - Key news
                • C3.ai Inc. - Key offerings
                • SWOT
              • 16.6 Dell Technologies Inc.
                • Dell Technologies Inc. - Overview
                • Dell Technologies Inc. - Business segments
                • Dell Technologies Inc. - Key news
                • Dell Technologies Inc. - Key offerings
                • Dell Technologies Inc. - Segment focus
                • SWOT
              • 16.7 Fortive Corp.
                • Fortive Corp. - Overview
                • Fortive Corp. - Business segments
                • Fortive Corp. - Key news
                • Fortive Corp. - Key offerings
                • Fortive Corp. - Segment focus
                • SWOT
              • 16.8 General Electric Co.
                • General Electric Co. - Overview
                • General Electric Co. - Business segments
                • General Electric Co. - Key news
                • General Electric Co. - Key offerings
                • General Electric Co. - Segment focus
                • SWOT
              • 16.9 Hitachi Ltd.
                • Hitachi Ltd. - Overview
                • Hitachi Ltd. - Business segments
                • Hitachi Ltd. - Key news
                • Hitachi Ltd. - Key offerings
                • Hitachi Ltd. - Segment focus
                • SWOT
              • 16.10 Honeywell International Inc.
                • Honeywell International Inc. - Overview
                • Honeywell International Inc. - Business segments
                • Honeywell International Inc. - Key news
                • Honeywell International Inc. - Key offerings
                • Honeywell International Inc. - Segment focus
                • SWOT
              • 16.11 International Business Machines Corp.
                • International Business Machines Corp. - Overview
                • International Business Machines Corp. - Business segments
                • International Business Machines Corp. - Key news
                • International Business Machines Corp. - Key offerings
                • International Business Machines Corp. - Segment focus
                • SWOT
              • 16.12 PTC Inc.
                • PTC Inc. - Overview
                • PTC Inc. - Business segments
                • PTC Inc. - Key news
                • PTC Inc. - Key offerings
                • PTC Inc. - Segment focus
                • SWOT
              • 16.13 RapidMiner Inc.
                • RapidMiner Inc. - Overview
                • RapidMiner Inc. - Product / Service
                • RapidMiner Inc. - Key offerings
                • SWOT
              • 16.14 Robert Bosch GmbH
                • Robert Bosch GmbH - Overview
                • Robert Bosch GmbH - Product / Service
                • Robert Bosch GmbH - Key news
                • Robert Bosch GmbH - Key offerings
                • SWOT
              • 16.15 Rockwell Automation Inc.
                • Rockwell Automation Inc. - Overview
                • Rockwell Automation Inc. - Business segments
                • Rockwell Automation Inc. - Key news
                • Rockwell Automation Inc. - Key offerings
                • Rockwell Automation Inc. - Segment focus
                • SWOT
              • 16.16 SAP SE
                • SAP SE - Overview
                • SAP SE - Business segments
                • SAP SE - Key news
                • SAP SE - Key offerings
                • SAP SE - Segment focus
                • SWOT
              • 16.17 SAS Institute Inc.
                • SAS Institute Inc. - Overview
                • SAS Institute Inc. - Product / Service
                • SAS Institute Inc. - Key news
                • SAS Institute Inc. - Key offerings
                • SWOT
              • 16.18 Schneider Electric SE
                • Schneider Electric SE - Overview
                • Schneider Electric SE - Business segments
                • Schneider Electric SE - Key news
                • Schneider Electric SE - Key offerings
                • Schneider Electric SE - Segment focus
                • SWOT

              17 Appendix

              • 17.1 Scope of the report
                • 17.2 Inclusions and exclusions checklist
                  • Inclusions checklist
                  • Exclusions checklist
                • 17.3 Currency conversion rates for US$
                  • Currency conversion rates for US$
                • 17.4 Research methodology
                  • Research methodology
                • 17.5 Data procurement
                  • Information sources
                • 17.6 Data validation
                  • Data validation
                • 17.7 Validation techniques employed for market sizing
                  • Validation techniques employed for market sizing
                • 17.8 Data synthesis
                  • Data synthesis
                • 17.9 360 degree market analysis
                  • 360 degree market analysis
                • 17.10 List of abbreviations
                  • List of abbreviations

                Research Methodology

                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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                Frequently Asked Questions

                Predictive Maintenance (Pdm) market growth will increase by $ 33720.5 mn during 2025-2029.

                The Predictive Maintenance (Pdm) market is expected to grow at a CAGR of 33.5% during 2025-2029.

                Predictive Maintenance (Pdm) market is segmented by Component( Solutions, Service) Deployment( On-premises, Cloud) Technology( IoT, AI and machine learning, Others, South America, Middle East and Africa)

                Augury Inc., Avnet Inc., C3.ai Inc., Dell Technologies Inc., Deutsche Telekom AG, Fortive Corp., General Electric Co., Hitachi Ltd., Honeywell International Inc., International Business Machines Corp., PTC Inc., RapidMiner Inc., Reliability Solutions sp. z o.o., Robert Bosch GmbH, Rockwell Automation Inc., SAP SE, SAS Institute Inc., Schneider Electric SE, Siemens AG, Warwick Analytics Services Ltd. are a few of the key vendors in the Predictive Maintenance (Pdm) market.

                Europe will register the highest growth rate of 35% among the other regions. Therefore, the Predictive Maintenance (Pdm) market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.

                US, Germany, UK, Canada, China, France, Italy, Japan, India, South Korea

                • Increased adoption of advanced analytics by SMEs owing to rise in cloud computingData are increasingly becoming a high-value asset in the growth of any enterprise. Enterprises is the driving factor this market.
                • ranging from large enterprises to SMEs is the driving factor this market.
                • are analyzing the available data and extracting insights to identify new opportunities to expand their business. The increasing amount of data is enabling SMEs to adopt data analytics. The use of data analytics is also changing the manner in which enterprises across various verticals operate.Most SMEs are in a growing phase is the driving factor this market.
                • facing competition from large enterprises. Moreover is the driving factor this market.
                • large enterprises are equipped with advanced technology infrastructure and operational abilities. SMEs are limited by various constraints is the driving factor this market.
                • such as scale is the driving factor this market.
                • capital investment is the driving factor this market.
                • storage is the driving factor this market.
                • and security. These constraints restrict the growth of SMEs or pose a challenge in the prediction of prospects of their product offerings is the driving factor this market.
                • particularly when technology is evolving at a rapid pace. To overcome these challenges is the driving factor this market.
                • SMEs are adopting advanced analytics on cloud.The increasing adoption of cloud computing services by enterprises globally is a great growth opportunity for cloud-based applications. The inherent benefits of cloud computing is the driving factor this market.
                • such as scalability is the driving factor this market.
                • reliability is the driving factor this market.
                • and high resource availability is the driving factor this market.
                • are pushing enterprises to adopt cloud architecture for their business operations. The adoption of cloud computing also eliminates the need for dedicated IT support teams and can reduce operational capital costs. To extract maximum cost benefits from cloud offerings is the driving factor this market.
                • enterprises are adopting the tools on a pay-per-use basis.The analysis of data generated by SMEs through advanced analytics tools helps SMEs organize their marketing campaigns is the driving factor this market.
                • improve decision-making processes is the driving factor this market.
                • analyze markets is the driving factor this market.
                • and forecast fluctuations in market conditions. A majority of companies across the retail is the driving factor this market.
                • BFSI is the driving factor this market.
                • healthcare is the driving factor this market.
                • and telecom and IT sectors are increasingly adopting advanced analytics tools as a necessity to improve their marketing and sales operations and align process efficiency. Retailers use PdM to identify the probability of purchases by customers. PdM analyzes customers demographic data and behavioral activities and predicts whether they will make a purchase.The adoption of cloud PdM tools provides SMEs with new opportunities by leveraging technologies is the driving factor this market.
                • such as mobility is the driving factor this market.
                • AI is the driving factor this market.
                • and IoT. The adoption of cloud PdM tools provides enterprise-wide departments with real-time access to information and cross-company communication for analysis. These benefits are increasing the demand for cloud PdM tools. The adoption of these tools is also expected to grow during the forecast period is the driving factor this market.
                • among SMEs across various industries is the driving factor this market.
                • such as manufacturing is the driving factor this market.
                • retail and distribution is the driving factor this market.
                • financial services is the driving factor this market.
                • and IT.SMEs mainly use PdM tools as they facilitate planning is the driving factor this market.
                • resource management is the driving factor this market.
                • and streamlining of data under one platform; reduce operational costs; enhance decision-making; and increase sales. PdM tools are being adopted through the cloud across SMEs for better management of business operations through a centralized management system is the driving factor this market.
                • with improved collaboration is the driving factor this market.
                • productivity is the driving factor this market.
                • simplified compliance is the driving factor this market.
                • and risk management. These are the major factors driving the adoption of PdM tools among SMEs. Thus is the driving factor this market.
                • the increased adoption of advanced analytics by SMEs owing to rise in cloud computing will positively impact the growth of the global predictive maintenance (PdM) market during the forecast period. is the driving factor this market.

                The Predictive Maintenance (Pdm) market vendors should focus on grabbing business opportunities from the Solutions segment as it accounted for the largest market share in the base year.