Predictive maintenance (PdM) techniques are designed to help determine the condition of in-service equipment in order to predict when maintenance should be performed. This approach promises cost savings over routine or time-based preventive maintenance, because tasks are performed only when warranted. The main promise of predictive maintenance is to allow convenient scheduling of corrective maintenance, and to prevent unexpected equipment failures.
Predictive maintenance evaluates the condition of equipment by performing periodic (offline) or continuous (online) equipment condition monitoring. The ultimate goal of the approach is to perform maintenance at a scheduled point in time when the maintenance activity is most cost-effective and before the equipment loses performance within a threshold. This results in a reduction in unplanned downtime costs because of failure where for instance costs can be in the hundreds of thousands per day depending on industry.

Market Analysis and Insights: Global Industrial Predictive Maintenance Market
The global Industrial Predictive Maintenance market size is projected to reach US$ XX million by 2027, from US$ XX million in 2020, at a CAGR of XX% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Industrial Predictive Maintenance market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Industrial Predictive Maintenance market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Industrial Predictive Maintenance market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Industrial Predictive Maintenance market.

Global Industrial Predictive Maintenance Scope and Market Size
Industrial Predictive Maintenance market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Industrial Predictive Maintenance market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Cloud-Based
On-premises

Segment by Application
Government
Aerospace and Defense
Energy and Utilities
Healthcare
Manufacturing
Transportation and Logistics

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
Augury Systems
Bosch Software Innovations
C3 IoT
Dell Technologies
Fluke Corporation
General Electric
Hitachi
Honeywell
IBM
PTC
Rapidminer
Rockwell Automation
SAP
SAS Institute
Schneider Electric
Senseye
SKF
Software
Softweb Solutions
T-Systems International
Warwick Analytics