The predictive maintenance market is projected to reach USD 105.66 billion by 2032.

From GlobeNewswire: 2025-03-25 10:00:00

The Predictive Maintenance Market was valued at USD 8.53 billion in 2023 and is expected to reach USD 105.66 billion by 2032, with a CAGR of 32.32%. Major players include IBM, ABB, Schneider Electric, AWS, Google, Microsoft, and more. Advancements in IoT and sensor integration are key drivers of market growth.

The U.S. market for Predictive Maintenance was valued at USD 3.0 billion in 2023 and is projected to reach USD 25.97 billion by 2032, with a CAGR of 27.1%. Adoption of IoT and AI-powered analytics in industrial sectors is driving growth, along with a focus on asset optimization and cloud-based solutions.

In 2023, the solutions segment led the Predictive Maintenance Market, accounting for over 83% share. The services segment is expected to grow rapidly, offering professional advisory, integration, and maintenance assistance. Large enterprises dominate the market, while SMEs are expected to witness fast growth.

Cloud-based solutions dominated the market in 2023, offering flexibility, cost-savings, and remote monitoring benefits. Hybrid deployment models are gaining traction for their on-premise security and cloud scalability. Vibration monitoring is the dominant monitoring technique, with oil analysis expected to grow rapidly. The predictive maintenance market is expected to see rapid growth, with oil analysis as the fastest-growing segment. North America leads, driven by Industry 4.0 adoption, while Asia-Pacific emerges as the fastest-growing market. ABB’s new cloud-based tool, Trendex, enhances predictive maintenance for grinding, reducing downtime in mineral processing operations.

The market is segmented by components, deployment models, enterprise sizes, monitoring techniques, and end-uses. North America dominates due to Industry 4.0 adoption, while Asia-Pacific is driven by industrialization. ABB’s Trendex tool improves predictive maintenance for grinding, reducing downtime in mineral processing operations.

North America leads the predictive maintenance market, with Asia-Pacific emerging as the fastest-growing market. ABB’s Trendex tool enhances predictive maintenance for grinding, reducing downtime in mineral processing operations. The market is segmented by components, deployment models, enterprise sizes, monitoring techniques, and end-uses.



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