Operational predictive maintenance is a service that detects the onset of system degradation; thereby, enabling usual stressors to be eliminated or controlled past any significant deterioration in the physical state of the component. Adoption of operational predictive maintenance software facilitates organizations to reduce maintenance cost and prevent downtime. It further assists the organizations in optimizing supply chain and operation management of products.
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Increasing adoption of cloud-based technologies across various industry verticals such as government and manufacturing has augmented the demand for operational predictive maintenance solution and services. Increasing focus on reducing the cost associated with the maintenance of machines, products, and other assets is fueling the growth in the market across the globe. Moreover, the technological advancement in maintenance solutions such as the deployment of big data and IoT is anticipated to offer a growth opportunity to the market in the near future.
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Some key players mentioned in the research report are:
The players operating in the global operational predictive maintenance market include Accenture PLC, Cisco Systems, Inc., General Electric Co., Hitachi Consulting Corp., IBM Corp., Intel Corp., Microsoft Corp., SAP SE, SAS Institute Inc., Siemens AG, and Schneider Electric SE, among others. The companies are focused on the development of innovative products for operational predictive maintenance market to stay competitive in the global market. Geographical expansion, merger & acquisition, partnerships & collaborations, finding a new market or innovate in their core competency in order to expand individual market share are some of the key strategies adopted by major market players. For instance, in December 2018, SAP SE unveiled SAP Intelligent Asset Management (IAM). It is a suite of solutions that offers collaborative planning, asset management, prediction, and simulation to products and equipment maintenance and operation.
Global Operational Predictive Maintenance Market Segmentation
By Deployment Model
• Energy & Utilities
• Transportation and Logistics
• Others (Healthcare, Aerospace and defense)
• United States
• Rest of Europe
• Rest of Asia-Pacific
Rest of the World
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