Middle East and Africa Predictive Maintenance Market, By Components (Solution, Services), Deployment Mode (Cloud, On-Premise), Organisation Size (Large Enterprises, Small and Medium-Sized Enterprises), Vertical (Manufacturing, Energy and Utilities, Transportation, Government, Healthcare, Aerospace and Defense, Others) - Industry Trends and Forecast to 2029
Market Analysis and Size
Predictive maintenance is known to lead a huge a huge increase in ROI. It can decline maintenance costs up to 25%-30%, decreases breakdowns to 70%-75% and reduces downtime to 35%-45%. These services are being highly deployed as they save overall cost for enterprises.
Middle East and Africa Predictive Maintenance Market was valued at USD 497.15 million in 2021 and is expected to reach USD 25878.63 million by 2029, registering a CAGR of 37.70% during the forecast period of 2022-2029. Manufacturing account for the largest vertical segment in the respective market owing to the rise in automation in the manufacturing sector. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Predictive maintenance refers to a technique that utilizes data analysis techniques and tools for detecting anomalies in business operations. These also detect possible defects in equipment and processes so that they can be fixed before they result in failure.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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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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Components (Solution, Services), Deployment Mode (Cloud, On-Premise), Organisation Size (Large Enterprises, Small and Medium-Sized Enterprises), Vertical (Manufacturing, Energy and Utilities, Transportation, Government, Healthcare, Aerospace and Defense, Others)
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Countries Covered
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Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Market Players Covered
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IBM (US), SAP SE (Germany), Microsoft (US), Siemens (Germany), GENERAL ELECTRIC (US), Schneider Electric (France), Software AG (Germany), C3.ai, Inc. (US), DINGO Software Pty. Ltd. (Australia), Splunk Inc. (US), Oracle (US), Amazon Web Services, Inc. (US), Hitachi, Ltd. (Japan), ABB (Sweden), Huawei Technologies Co., Ltd. (China), Intel Corporation (US), and SKF (Sweden), among others
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Market Opportunities
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Middle East and Africa Predictive Maintenance Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Need to Obtain New Insights
The increase in need to aggregate and explore textual data to obtain new insights acts as one of the major factors driving the predictive maintenance market. The incorporation of industry technology, knowledge, and practices to drive business outcomes has a positive impact on the market.
- Emergence of Big Data Analytics
The rise in the emergence of big data analytics across the region accelerate the market growth. Numerous enterprises are focusing on combining disparate internal data along with external data sources for acquiring new efficiencies assist in the expansion of the market.
- Prevent Unplanned Reactive Maintenance
The increase in the adoption of predictive maintenance programs to prevent unplanned reactive maintenance further influence the market. These services allows the maintenance frequency to be as low as possible for preventing unplanned reactive maintenance without incurring costs.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the predictive maintenance market.
Opportunities
Furthermore, need for real-time condition monitoring to assist in taking prompt actions and rise in internet proliferation extend profitable opportunities to the market players in the forecast period of 2022 to 2029. The increase in the usage of connected and integrated technologies will further expand the market.
Restraints/Challenges
On the other hand, factors such as data security concerns along with requirement of frequent maintenance and up gradation to keep the systems updated are expected to obstruct market growth. Also, lack of skilled workforce and complications with ownership and privacy of collected data are projected to challenge the predictive maintenance market in the forecast period of 2022-2029.
This predictive maintenance market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on predictive maintenance market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Middle East and Africa Predictive Maintenance Market
The COVID-19 pandemic had a positive impact on the predictive maintenance market. It helped millions of people globally in leveraging advanced tools for various applications. The surge in the in investments by various SMEs and large enterprises in technologies such as like AI and machine learning for improving business operations. These services were highly useful during the pandemic due to the high need for remote monitoring and management of assets and business processes. The predictive maintenance is expected to witness high growth Post-COVID-19 due to the adoption of smart manufacturing processes using AI, and IoT technologies.
Middle East and Africa Predictive Maintenance Market Scope and Market Size
The predictive maintenance market is segmented on the basis of components, deployment mode, organisation size and vertical. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Components
- Solution
- Services
Deployment Mode
- Cloud
- On-Premise
Organisation Size
- Large Enterprises
- Small and Medium-Sized Enterprises
Vertical
- Manufacturing
- Energy and Utilities
- Transportation
- Government
- Healthcare
- Aerospace and Defense
- Others
Middle East and Africa Predictive Maintenance Market Regional Analysis/Insights
The predictive maintenance market is analysed and market size insights and trends are provided by country, components, deployment mode, organisation size and vertical as referred above.
The countries covered in the predictive maintenance market report are Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
South Africa accounted largest market share is due to increasing concern towards improvement of uptime of equipment and maintenance cost reduction.
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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Middle East and Africa Predictive Maintenance Market
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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to predictive maintenance market.
Some of the major players operating in predictive maintenance market are
- IBM (US)
- SAP SE (Germany)
- Microsoft (US)
- Siemens (Germany)
- GENERAL ELECTRIC (US)
- Schneider Electric (France)
- Software AG (Germany)
- C3.ai, Inc. (US)
- DINGO Software Pty. Ltd. (Australia)
- Splunk Inc. (US)
- Oracle (US)
- Amazon Web Services, Inc. (US)
- Hitachi, Ltd. (Japan)
- ABB (Sweden)
- Huawei Technologies Co., Ltd. (China)
- Intel Corporation (US)
- SKF (Sweden)
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