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Predictive Maintenance Market to Grow at a CAGR of 28.4% by 2021 - Growth Due to Low Maintenance Cost with Reduce Downtime & Widespread of IoT - Research and MarketsDUBLIN, Mar 22, 2017 /PRNewswire/ -- Research and Markets has announced the addition of the "Predictive Maintenance Market by Component, Deployment Type (Cloud and on-Premises), Organization Size (SMES and Enterprises), Vertical, and Region - Global Forecast to 2021" report to their offering. The predictive maintenance market size is expected to grow from USD 1,404.3 million in 2016 to USD 4,904.0 million by 2021, at a Compound Annual Growth Rate (CAGR) of 28.4% during the forecast period. Factors, such as the lowering maintenance cost with reduced downtime and widespread of Internet of Things (IoT) are expected to increase the demand for predictive maintenance solutions & services. However, lack of training and trust for predictive maintenance are the major factors restraining the growth of the market. The North American region holds the largest share of the predictive maintenance market. The major driver for this region is the increasing demand for better monitoring and predictive technology. The U.S. has the largest market share in the region, followed by Canada. The European market is the second biggest market after North America. The European region consists of major growing economies, such as the U.K., Germany, and France, which present great growth opportunities for the predictive maintenance market. Companies Mentioned
Key Topics Covered: For more information about this report visit http://www.researchandmarkets.com/research/5lr2g8/predictive Media Contact: Research and Markets |