Predictive Maintenance Market Size, Share, Growth, Trends, Analysis, Report and Forecast to 2022-27 | IMARC Group
According to the latest report by IMARC Group, titled " Predictive Maintenance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 ", the global predictive maintenance market reached a value of US$ 5.95 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 28.44 Billion by 2027, exhibiting a CAGR of 27.60% during 2022-2027. Predictive maintenance refers to the solution that allows businesses to forecast equipment breakdowns ahead of time. It uses condition-monitoring tools and devices to keep track of equipment functioning during an operation. Predictive maintenance reduces the risk of failure under normal operating conditions, maximizes the life of an asset, and minimizes maintenance costs. It constantly monitors equipment behavior to collect real-time data and uses advanced neural networks and artificial techniques to decide and raise alerts during imminent system failure. Nowadays, predictive maintena...