Operational predictive maintenance refers to a practice of determining the risk of failures in an operational process. In this, predicative analytics software and services access multiple data sources in real-time, in order to identify asset failure and quality issues in product development process. Moreover, predicative analytics software evaluates failure patterns and minor variances, in order to determine the risk of failures in operational process in order to reduce or avoid future losses. In other words, this software helps in improving device and equipment uptime. Operational predictive maintenance services are comprised of integration and implementation, consulting services, and training & support. These services optimize operational processes by supporting operational departments with the help of advanced analytics software in daily business process.
The global operational predictive maintenance market was estimated to account for US$ 1,138.4 Mn in terms of value by the end of 2019
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Increasing demand for transforming maintenance operations of an organization and reducing the downtime of an organization, is expected propel the demand for operational predictive maintenance market over the forecast period. In addition, initiative taken by the government for increasing the efficiency of manufacturing plants and machines, is expected to attribute the demand for operation predictive maintenance over the forecast period.
Moreover, managers of major industrial facilities are constantly focused on enhancing maintenance process at manufacturing plants and other operating ecosystems, for preventing the downtime of an assets. Moreover, predictive maintenance system can control various types of data including temperature, energy use, output, run time, etc. to enhance decision making and operations at manufacturing plants or manufacturing units.
Global Operational Predictive Maintenance Market, By Type:
Implementation and Integration
Training & Support
Global Operational Predictive Maintenance Market, By Deployment Model:
Global Operational Predictive Maintenance Market, By End User:
Energy & Utility
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Key companies in the global operational predictive maintenance market are General Electric Company, IBM Corporation, eMaint Enterprises LLC, Software AG, Schneider Electric SE, SAS Institute Inc., Rockwell Automation Inc., PTC, Inc., and Robert Bosch GmbH.
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