Operational Predictive Maintenance Market to be backed by its Growing Applications in the Coming Years

Manufacturing end user segment is projected to be the most attractive segment in the global operational predictive maintenance market

 

Currently, the manufacturing segment accounts for a relatively high revenue share in the global operational predictive maintenance market and is expected to remain the dominant end user segment throughout the forecast period followed by the healthcare segment. In terms of revenue, the manufacturing segment is projected to be the most attractive segment in the global operational predictive maintenance market during the forecast period. The manufacturing segment was valued at more than US$ 100 Mn in 2015 and is expected to remain dominant through 2024, accounting for a revenue share of more than 25%.

 

Rising awareness of maintenance operations and the need to minimize asset downtime are the prime factors driving the growth of the manufacturing segment

 

Industrial facility managers are continuously working towards improving maintenance processes at manufacturing plants and other operating environments. It is crucial to derive insights to yield maximum benefits from data enabled predictive maintenance solutions. With predictive maintenance, facility managers can avoid ‘virtual downtime’ when an equipment is not operating to its maximum potential. Predictive maintenance systems scan leverage range of data including equipment runtime, energy use, temperature, output, and others to improve decision making and operations at manufacturing plants. This leads to the adoption of operational predictive maintenance solutions at manufacturing facilities, thus driving the growth of the manufacturing end user segment in the global operational predictive maintenance market.

 

Browse Our Report @ https://www.persistencemarketresearch.com/market-research/operational-predictive-maintenance-market.asp

 

Technology based ERP software solutions are developed by organizations for predictive maintenance and to enhance their efficiency. A number of renewable energy based manufacturing plants have already started deploying operational predictive maintenance solutions and many public sector and manufacturing organizations are increasingly adopting new technologies to predict faults in equipment and minimize losses related to equipment failure. These factors are expected to drive the growth of the manufacturing end user segment of the global operational predictive maintenance market over the forecast period.

 

Several new players are entering the global operational predictive maintenance market, owing to the high growth potential and absence of entry barriers. These new players are introducing low-cost solutions, and this is causing other established players to either lower the prices of their operational predictive maintenance solutions or offer add-on services bundled along with the main solution offering. This is expected to result in rising adoption of operational predictive maintenance solutions across multiple end user industries, and is thereby likely to fuel the growth of the manufacturing end user segment.

 

Brochure With Latest Advancements With Application @ https://www.persistencemarketresearch.com/samples/10394

 

Manufacturing segment is projected to be the most attractive end user segment in the North America operational predictive maintenance market

 

In terms of revenue, the manufacturing end user segment is projected to be the most attractive segment in the North America operational predictive maintenance market during the forecast period. The manufacturing segment in the North America region was valued at more than US$ 50 Mn in 2015 and is expected to remain dominant during the forecast period. In revenue terms, the U.S operational predictive maintenance market is likely to be the most attractive in the North America operational predictive maintenance market. The manufacturing end user segment is slated to grow at a CAGR of 26.4% in the Asia Pacific operational predictive maintenance market. The manufacturing segment is projected to be the most attractive segment in the Asia Pacific operational predictive maintenance market over the forecast period.

 

Market segmentation

 

By Deployment Model

  • On-premise
  • Cloud-based

     

By End User

  • Public Sector
  • Automotive
  • Manufacturing
  • Healthcare
  • Energy & Utility
  • Transportation
  • Others

     

By Region

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • Middle East & Africa
  •  

By Type

  • Software
  • Services
  • Implementation and Integration
  • Training & Support
  • Consulting
Designed by CyFocus.com
Powered by CyFocus.net