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The operational predictive maintenance market has experienced exponential growth, expanding from $5.78 billion in 2023 to $7.31 billion in 2024, with a CAGR of 26.5%. This expansion is attributed to downtime and cost reduction, asset reliability enhancement, safety improvement, and regulatory compliance, fueled by increased awareness of predictive maintenance benefits. Looking ahead, continued exponential growth is expected, reaching $18.62 billion by 2028, with a CAGR of 26.3%, driven by new industry applications, proactive maintenance demand, emerging market penetration, predictive maintenance adoption, and sustainability focus. Key trends include IoT sensor integration, machine learning adoption, cross-industry applications, cloud platform development, and enterprise asset management system integration.

The operational predictive maintenance market is primed for substantial expansion, attributed to the proliferation of IoT devices. These devices, comprising sensors, actuators, and appliances, leverage high-speed internet connectivity to transmit data, fueled by advancements in industrial automation, supply chain management, and data analytics. Enabling real-time monitoring, data analytics, early issue detection, and condition-based maintenance, IoT devices play a pivotal role in enhancing asset performance, cost reduction, and operational efficiency. Projections indicate a surge in IoT connections from 15.1 billion in 2021 to 23.3 billion by 2025, underscoring the driving force behind the operational predictive maintenance market’s growth.

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What Are The Key Trends That Influence Operational Predictive Maintenance Market Share Analysis?

Major companies in the operational predictive maintenance market are leveraging AI innovations such as AI-based predictive maintenance solutions to enhance the accuracy and efficiency of predictive maintenance operations. These solutions use AI or machine learning technology to monitor industrial equipment locally without needing internet-based cloud connections. For instance, in May 2021, QuickLogic Corporation introduced an AI-based predictive maintenance solution utilizing the QuickLogic EOS S3 Platform and SensiML Analytics Toolkit. This solution integrates AI and ML to monitor manufacturing equipment, distinguishing between normal and abnormal operations. It’s designed for low-power, multi-core ARM Cortex System-on-Chip applications in mobile markets, including always-on voice, AI inference, IoT applications, and more.

Which Market Players Are Driving Growth In The Operational Predictive Maintenance Market?

Major companies operating in the market areGoogle LLC, Microsoft Corporation, Robert Bosch GmbH, Hitachi Ltd., Amazon Web Services Inc., The International Business Machines Corporation, General Electric Company, Schneider Electric SE, SAP SE, Svenska Kullagerfabriken AB, Rockwell Automation Inc., SAS Institute Inc., Micro Focus, Splunk Inc., PTC Inc., Software AG, TIBCO Software Inc., C3.ai Inc, Softweb Solutions Inc, Fiix Software, Uptake Technologies Inc., eMaint Enterprises LLC, Seebo Interactive Ltd., Asystom, Ecolibrium Energy

How Is The Global Operational Predictive Maintenance Market Segmented?

The operational predictive maintenance market covered in this report is segmented –

1) By Type: Software, Services
2) By Deployment Model: Cloud, On-Premise
3) By Technology: Machine Learning, Deep Learning, Big Data And Analytics
4) By End User: Public Sector, Automotive, Manufacturing, Healthcare, Energy And Utility, Transportation, Other End Users

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The Operational Predictive Maintenance Global Market Report 2024 provides an overview of the operational predictive maintenancemarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The operational predictive maintenance market forecast analyzes operational predictive maintenance market size, operational predictive maintenance market share, leading competitor and their market positions.

The Table Of Content For The Operational Predictive Maintenance Market Include

1. Operational Predictive Maintenance Market Executive Summary
2. Operational Predictive Maintenance Market Segments
3. Operational Predictive Maintenance Market Size And Template Market Growth Rate
4.  Key Operational Predictive Maintenance Market Trends
5. Major Operational Predictive Maintenance Market Drivers
……
25. Key Mergers And Acquisitions In The Operational Predictive Maintenance Market
26. Top Operational Predictive Maintenance Companies
27. Operational Predictive Maintenance Market Opportunities And Strategies
28. Operational Predictive Maintenance Market, Conclusions And Recommendations
29. Appendix

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