The key findings of the report are:
Predictive Maintenance solutions and services are being increasingly adopted across verticals, such as manufacturing, energy and utilities, and aerospace & defense and have led to the rapid growth of the market, globally.
Increasing pressure across verticals to optimize maintenance cost and increase productivity is one of the major factor driving the growth of predictive maintenance solutions and services.
Emergence of Internet-of-Things (IoT) and big data have led to significant increase in data collected from different assets, thus aiding the growth of predictive maintenance solutions and services.
Increase spend in IT across different verticals in the emerging markets, such as APAC and MEA, is expected to drive the adoption of predictive maintenance solutions and services.
Rising demand for real-time streaming analytics is likely to create huge opportunities for predictive maintenance vendors.
Integrating predictive maintenance solutions with wide range of complex equipment is a major challenge faced by predictive maintenance vendors in the global market.
In the report, innovators are vendors who have demonstrated substantial product innovations as compared to their competitors.