Predictive Maintenance for Manufacturing - Global Market to Reach a Revised Size of $3.9 Billion by 2027 due to COVID-19 - ResearchAndMarkets.com

DUBLIN--()--The "Predictive Maintenance for Manufacturing Industry - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Predictive Maintenance for Manufacturing Industry Market to Reach US$3.9 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Predictive Maintenance for Manufacturing Industry estimated at US$1.1 Billion in the year 2020, is projected to reach a revised size of US$3.9 Billion by 2027, growing at a CAGR of 20.1% over the period 2020-2027.

Software, one of the segments analyzed in the report, is projected to grow at a 19.5% CAGR to reach US$2.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 20.9% CAGR for the next 7-year period. This segment currently accounts for a 41.2% share of the global Predictive Maintenance for Manufacturing Industry market.

The U.S. Accounts for Over 29.8% of Global Market Size in 2020, While China is Forecast to Grow at a 19.8% CAGR for the Period of 2020-2027

The Predictive Maintenance for Manufacturing Industry market in the U.S. is estimated at US$325 Million in the year 2020. The country currently accounts for a 29.83% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$690.7 Million in the year 2027 trailing a CAGR of 19.7% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.6% and 17.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.2% CAGR while Rest of European market (as defined in the study) will reach US$690.7 Million by the year 2027.

The publisher brings years of research experience to this 8th edition of the report. The 174-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:

  • eMaint Enterprises, LLC
  • General Electric Company
  • IBM Corporation
  • PTC, Inc.
  • Robert Bosch GmbH
  • Rockwell Automation, Inc.
  • SAS Institute, Inc.
  • Schneider Electric SA
  • Software AG

Total Companies Profiled: 46

For more information about this report visit https://www.researchandmarkets.com/r/l3nzc3

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900