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(IT-NEWSWIRE.COM, October 14, 2022 ) According to a new market research report the report "Predictive Maintenance Market by Component (Solutions, Services), Deployment Mode (On-premises, Cloud), Organization Size (Large Enterprises, SME), Vertical and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Predictive Maintenance Market size to grow from USD 4.2 billion in 2021 to USD 15.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 30.6%. Various factors such as increasing spending on marketing and advertising activities by enterprises, changing landscape of customer intelligence to drive the market, and proliferation of customer channels are expected to drive the adoption of predictive maintenance technologies and services.
Browse in-depth TOC on "Predictive Maintenance Market"
372 – Tables
51 – Figures
294 – Pages
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By deployment mode, the Predictive Maintenance Market has been segmented into on-premises and cloud. The CAGR of the cloud deployment mode is estimated to be the largest during the forecast period. Cloud-based services are provided directly through the cloud-deployed network connection. Cloud-based platforms are beneficial for organizations that have strict budgets for security investments. The cloud deployment mode is growing, as cloud-based predictive maintenance solutions are easy to maintain and upgrade.
The Predictive Maintenance Market has been segmented by organization size into large enterprises and SMEs. The market for SMEs is expected to register a higher CAGR during the forecast period. These enterprises are early adopters of predictive maintenance solutions. They are faced with the troublesome task of effectively managing security because of the diverse nature of IT infrastructure, which is complex in nature.
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The Predictive Maintenance Market by vertical has been categorized into government and defense, manufacturing, energy and utilities, transportation and logistics, and healthcare and life sciences. The energy and utilities vertical is expected to witness the highest growth rate, while the government and defense vertical is expected to have the largest market size during the forecast period. The larger market size of the government and defense vertical can be attributed to the many initiatives taken by the government to improve the lifestyle of citizens and increasing adoption rate of AI-based applications with the use of ML algorithms to predict the parts and maintenance of defense equipment.
The Predictive Maintenance Market has been segmented into five major regions: North America, Europe, APAC, Latin America, and MEA. APAC is expected to grow at a good pace during the forecast period. The region will be booming, as it is experiencing a lot of new entrepreneur setups, which would be looking forward to acquiring new customers and gaining customer trust by involving new paradigms of maintenance technologies to have a competitive advantage over the established players. Predictive maintenance vendors in this region focus on innovations related to their product line. China, Japan, India, and Bangladesh have displayed ample growth opportunities in the Predictive Maintenance Market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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