According to UpKeep Maintenance Management, in 2017, almost 53% of companies adopted the IIoT technologies and predictive maintenance under big data analytics implementation strategies. The data analytics solutions are helping the manufacturers make better decisions, including analysis of assets life, replacement of assets and prior service rather than planned, among others.
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Global industrial maintenance services in operational improvement & operational maintenance market is expected to reach USD 8,378.70 million by 2027 from USD 5,418.74 million in 2019, growing with the healthy CAGR of 5.7% in the forecast period of 2020 to 2027. The major factors driving the market growth are the increasing demand for preventive maintenance solutions and the growing adoption of IoT technology in maintenance operations. While the varying regulatory compliance acts as a major restraint for global industrial maintenance services in operational improvement & operational maintenance market.
Increasing importance of preventive maintenance services to reduce the downtime of facility across the world will drive the market's growth rate
The Industrial 4.0 revolution brought changes in the industrial sector as organizations adopt advanced technologies, digital solutions and others. Increasing production capabilities with the efficient cost is main objective of every business. To improve the production, reducing downtime and uptime of machinery and equipment needs to be improved, driving the maintenance service demand.
Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2020 to 2027
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Base Year
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2019
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Historic Years
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2018 (Customizable to 2012 - 2017)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Services Type (Industrial Operational Maintenance, Industrial Operational Improvement), Application (Supervisory Control and Data Acquisition (SCADA), Electric Motors & Drives, Valves & Actuators, Distributed Control System (DCS), Human-Machine Interface (HMI), Manufacturing Execution System (MES), Safety System, Others), Industry (Automotive, Metals & Mining, Food & Beverages, Aerospace & Defense, Oil & Gas, Water and Wastewater, Energy & Power, Chemical, Pharmaceuticals, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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General Electric (U.S.), Endress+Hauser Group Services AG (Switzerland), Emerson Electric Co. (U.S.), Rockwell Automation, Inc. (U.S.), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric Corporation (Japan), Yokogawa India Ltd. (Japan), ABB (U.S.), Cognex Corporation (U.S.) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
Global industrial maintenance services in operational improvement & operational maintenance market is segmented into three notable segments which are based on the basis of services type, application and industry.
The electric motors and drives segment will dominate the application segment of the industrial maintenance services in operational improvement & operational maintenance market
The electric motors and drives segment will emerge as the dominating segment application segment. This is because of the growing number of electric motors in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
The industry segment will dominate the industry segment of the industrial maintenance services in operational improvement & operational maintenance market
The industry segment will emerge as the dominating segment under industry with approximately 24.00% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the semiconductors industry all around the globe will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in industrial maintenance services in operational improvement & operational maintenance market: General Electric (U.S.), Endress+Hauser Group Services AG (Switzerland), Emerson Electric Co. (U.S.), Rockwell Automation, Inc. (U.S.), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric Corporation (Japan), Yokogawa India Ltd. (Japan), ABB (U.S.), Cognex Corporation (U.S.).
Market Development
Regional Analysis
Geographically, the countries covered in the industrial maintenance services in operational improvement & operational maintenance market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in industrial maintenance services in operational improvement & operational maintenance market during the forecast period 2020 - 2027
Owing to the presence of significant key players and the increase in the adoption rate of smart solutions in the retail sector, Asia-Pacific now dominates the market and will likely maintain this trend.
Asia-Pacific is estimated to be the fastest growing region in industrial maintenance services in operational improvement & operational maintenance market the forecast period 2020 - 2027
Owing to the region's expanding industrial activities and improved operational efficiency, Asia-Pacific is predicted to develop between 2022 and 2029.
COVID-19 Impact
The market has been significantly impacted by the COVID-19 outbreak. The worldwide supply chain disruptions, shutdown of the industry both impacted the market. The market, however, is anticipated to be considerably damaged in the post-COVID scenario.
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Global Industrial Maintenance Services in Operational Improvement and Operational Maintenance Market – Industry Trends and Forecast to 2027
Asia-Pacific Industrial Maintenance Services in Operational Improvement and Operational Maintenance Market – Industry Trends and Forecast to 2027
Europe Industrial Maintenance Services in Operational Improvement and Operational Maintenance Market – Industry Trends and Forecast to 2030
Middle East and Africa Industrial Maintenance Services in Operational Improvement and Operational Maintenance Market – Industry Trends and Forecast to 2027
North America Industrial Maintenance Services in Operational Improvement and Operational Maintenance Market – Industry Trends and Forecast to 2030