Europe Predictive Maintenance Market, By Components (Solution, Services), Deployment Mode (Cloud, On-Premise), Organisation Size (Large Enterprises, Small & Medium-Sized Enterprises), Vertical (Manufacturing, Energy and Utilities, Transportation, Government, Healthcare, Aerospace & Defense, Others), Country (Germany, France, U.K., Italy, Spain, Russia, Turkey, Netherlands, Belgium, Switzerland and Rest of Europe) Industry Trends and Forecast to 2027
The predictive maintenance market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 39.6% in the forecast period of 2020 to 2027 and is expected to reach USD 17,741.61 million by 2027. The increased use of new and emerging technologies to gain valuable insight into decision-making has contributed to the predictive maintenance market growth. Various vertical end-users are increasingly in need of cost reduction and downtime, which has stimulated the predictive maintenance market growth.
The increasing concern towards the improvement of uptime of equipment and maintenance cost reduction is driving the growth for the predictive maintenance market. The lack of skilled worker is going to be a major restraining factor for the predictive maintenance market. Real-time monitoring condition to assist in taking prompt actions is going to provide ample opportunities for the predictive maintenance market. The concern over data security and privacy is major challenge in the predictive maintenance market.
This predictive maintenance market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the predictive maintenance market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The predictive maintenance market is segmented on the basis of components, deployment mode, organisation size and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of components, the predictive maintenance market is segmented into solution and services. In 2020, solution segment has been accounted for the largest market share due to the growing concern of organization towards cutting down the cost and improvement in the uptime of equipment.
- On the basis of deployment mode, the predictive maintenance market is segmented into cloud and on-premise. In 2020, on-premise segment has been accounted for the largest market share due to the growing concern for data security among the organization.
- On the basis of organization size, the predictive maintenance market is segmented into large enterprises and small and medium-sized enterprises. In 2020, large enterprises segment has been accounted for the largest market share due to the growing adoption of industrialization 4.0 robots and many others which has resulted in increasing demand for predictive maintenance.
- On the basis of vertical, the predictive maintenance market is segmented into manufacturing, energy and utilities, transportation, government, healthcare, aerospace & defense and others. In 2020, manufacturing segment has been accounted for the largest market share due to the rising automation in the manufacturing sector which has resulted in increasing demand for the predictive maintenance.
Europe Predictive Maintenance Market Country Level Analysis
Europe predictive maintenance market is analysed and market size information is provided by country, components, deployment mode, organization size and vertical as referenced above.
The countries covered in Europe predictive maintenance market report are the Germany, France, U.K., Italy, Spain, Russia, Turkey, Netherlands, Belgium, Switzerland and rest of Europe.
Germany has been accounted for the largest market share in Europe predictive maintenance market due to growing expansion of manufacturing plants in order to fulfil the growing demand, this factor tends to increase the growth of predictive maintenance in the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Stringent Government Regulations and Policy for Predictive Maintenance
Predictive maintenance market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in predictive maintenance and changes in regulatory scenarios with their support for the predictive maintenance market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Predictive Maintenance Market Share Analysis
The predictive maintenance market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Europe predictive maintenance market.
The major players covered in the Europe predictive maintenance market report are IBM Corporation, SAP SE, Microsoft, PTC, Siemens, GENERAL ELECTRIC, Schneider Electric, Software AG, C3.ai, Inc., DINGO Software Pty. Ltd., Splunk Inc., Oracle, Amazon Web Services, Inc. (a subsidiary of Amazon), Hitachi, Ltd., ABB, Huawei Technologies Co., Ltd., Intel Corporation, SKF among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of predictive maintenance market.
- In June 2020, PTC launched advanced ThingWorx 9.O Industrial IoT platform to enhance scalability, simplify solution development and expand OPC UA support for enterprise deployments. This will help the company to enhance their product portfolio and better meet consumers changing demand.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for predictive maintenance through expanded range of size.
Customization Available: Europe Predictive Maintenance Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.