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Predictive Maintenance Market 2023: Industry Sees Promising Growth by 2027

According to the report published by Allied Market Research, The Predictive Maintenance Market 2023: Industry Sees Promising Growth by 2027. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Increase in investment on predictive maintenance and surge in need to extend lifetime of aging assets drive the growth of the global predictive maintenance market. On the other hand, lack of skilled staff and several data privacy & security concerns impede the growth to some extent. However, integration of predictive maintenance with IIoT, use of machine learning, rise in the drift of real-time condition monitoring to assist in taking prompt actions, and increase in need for remote monitoring are expected to create lucrative opportunities in the industry.

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The global predictive maintenance market size was valued at USD 4,331.56 million in 2019, and is projected to reach USD 31,965.49 million by 2027, growing at a CAGR of 28.8% from 2020 to 2027.

The global predictive maintenance market is segmented on the basis of component, deployment, technique, stakeholder, industry vertical, and region. By component, it is bifurcated into solution and service. According to deployment, it is classified into cloud and on-premise. Further, by technique, it is divided into vibration monitoring, electrical testing, oil analysis, ultrasonic leak detectors, shock pulse, infrared, and others. By stakeholder, it is classified into MRO, OEM/ODM, and technology integrators. On the basis of industry vertical, it is classified into manufacturing, energy & utilities, aerospace & defense, transportation & logistics, government, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on component, the solution segment accounted for more than two-thirds of the global predictive maintenance market share in 2019 and is anticipated to retain its dominance by 2027. Companies are looking for all-inclusive development solutions which integrate hardware sensor board and software environment created precisely for predictive maintenance requirements, which drives the segment growth. The services segment, on the other hand, would register the fastest CAGR OF 31.4% from 2020 to 2027. This is attributed to the fact that companies are trying to achieve profit by implanting predictive analytics into their products and offering better maintenance services.

Based on technique, the vibration monitoring segment contributed to nearly one-fourth of the global predictive maintenance market revenue in 2019 and is projected to dominate by the end of 2027. The need for parts to be ordered more effectively increases the demand for this technique, thereby boosting the segment growth. Simultaneously, the shock pulse segment would manifest the fastest CAGR of 31.4% throughout the forecast period. Shock pulse technique specializes in defining precise information on the mechanical condition of the bearing surfaces along with the state of lubrication on the bearing. This factor drives the growth of the segment.

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Based on region, North America held the major share in 2019, garnering more than one-third of the global predictive maintenance market, owing to the presence of a large number of solution and service vendors in this region. At the same time, the market across Asia-Pacific would cite the fastest CAGR of 30.3% from 2020 to 2027, due to rapid industrialization in this province.

The key players operating in the global predictive maintenance market analysis include IBM Corporations; Microsoft; SAP SE; General Electric; Schneider Electric; Hitachi; PTC; Software AG; SAS; Engineering Consultants Group, Inc.; Expert Microsystems, Inc.; SparkCognition; C3.Ai; Uptake Technologies Inc.; Fiix Inc.; Operational Excellence (Opex) Group Ltd, TIBCO Software Inc.; Asystom; Reliability Solutions Sp. zo.o. and Sigma Industrial Precision.

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Impact of Covid-19 on Predictive Maintenance Market:

Shortage of employees, disrupted supply chain, and increase in demand for various goods during the pandemic prompted organizations to take special care of their manufacturing equipment to escalate the output. This, in turn, led to a rise in demand for predictive maintenance solutions across the globe.

Many enterprises have started using smart sensors, artificial intelligence systems, and other IIoT solutions to keep a tab on the efficiency of vital machinery used in their  manufacturing procedure to evade costly production downtimes.

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Thanks for reading this article you can also get individual chapter-wise sections or region-wise report versions like North America Europe or Asia.    If you have any special requirements, please let us know and we will offer you the report as per your requirements.    Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

About Us:    Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.    AMR launched its user-based online library of reports and company profiles Avenue. An e-access library is accessible from any device anywhere and at any time for entrepreneur’s stakeholder’s researchers and students at universities. With reports on more than 60000 niche markets with data comprising of 600000 pages along with company profiles on more than 12000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

Contact:  David Correa  5933 NE Win Sivers Drive  #205 Portland OR 97220  United States  Toll-Free: 1–800–792–5285  UK: +44–845–528–1300  Hong Kong: +852–301–84916  India (Pune): +91–20–66346060  Fax: +1–855–550–5975  help@alliedmarketresearch.com  Web: https://www.alliedmarketresearch.com  Follow Us on LinkedIn and Twitter

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Sports Analytics Market 2023 : Moving Towards a Brighter Future | Current Trends and Future Scenarios

According to the report published by Allied Market Research, The Sports Analytics Market 2023: Moving Towards a Brighter Future | Current Trends and Future Scenarios. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Growing demand for real-time data access, rise in amount of on-field data, and surge in demand for predictive insights into fan preferences drive the growth of the global sports analytics market. However, high maintenance and investment costs and lack of awareness about technology in sports hinder the market growth. On the other hand, availability of cost-effective and high-end computing solutions and rise in demands of analytics for complex data streaming create new opportunities in the market.

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The global sports analytics market was valued at USD 425.76 million in 2018, and is projected to reach USD 6,376.45 million by 2026, growing at a CAGR of 40.40% from 2019 to 2026.

The global market is segmented on the basis of component, deployment mode, application, and region. In terms of component, it is segmented into software and services. In terms of deployment mode, the market is bifurcated into on-premise and cloud. Based on application, it is divided into marketing/sales, video analysis, fan engagement, team performance & training sports, player analysis & health assessment, and other. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on component, the solution segment held the largest market share in 2018, accounting for nearly three-fourths of the global sports analytics market and is estimated to maintain its leadership position throughout the forecast period. This is due to automation solutions are cheaper than solutions and are faster to deploy. However, the service segment is expected to register the fastest CAGR of 42.7% from 2019 to 2026. This is attributed to the rise in need of various services such as managed service and professional services.

Based on deployment, the on-premise segment contributed to the highest market share in 2018, contributing more than half of the global sports analytics market, and is estimated to maintain its highest share in terms of revenue by 2026. This is attributed to the increase in the adoption of these systems due to enhanced security features provided by the on-premise model. However, the cloud segment is expected to grow at the fastest CAGR of 42.6% during the forecast period. This is due to the different services provided by the cloud.

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Based on region, Europe held the major market share, contributing to nearly one-third of the total share of the global sports analytics market in 2018, and is estimated to maintain its dominant position during the forecast period. The region is expected to adopt sports analytics at a high rate to bring great improvements in players’ performance and team performance. However, the Asia-Pacific region is estimated to grow at a CAGR of 42.7% from 2019 to 2026. This is due to the increase in sports organizations and emerging new clubs in the region. Moreover, North America contributed to the second-largest share in terms of revenue.

The key players profiled in the sports analytics market analysis include IBM Corporation, Oracle Corporation, SAP SE, Stats Perform, Nielson Sports, Tableau Software, SAS Institute, Opta Sports, Trumedia Networks, and Sportradar AG. These players have adopted various strategies to increase their sports analytics market penetration and strengthen their position in the industry.

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Impact of covid-19 on Sports Analytics Market:

The outbreak of Covid-19 has greatly affected the sports analytics industry, affecting raw material supply chain, disrupting supply chain, and increasing inflationary risks on product.

However, the increase in e-gaming has made a positive impact on the demand for sport analytics.

Buy Complete Report (227 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/sports-analytics-market/purchase-options

Thanks for reading this article you can also get individual chapter-wise sections or region-wise report versions like North America Europe or Asia.    If you have any special requirements, please let us know and we will offer you the report as per your requirements.    Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

About Us:    Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.    AMR launched its user-based online library of reports and company profiles Avenue. An e-access library is accessible from any device anywhere and at any time for entrepreneur’s stakeholder’s researchers and students at universities. With reports on more than 60000 niche markets with data comprising of 600000 pages along with company profiles on more than 12000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

Contact:  David Correa  5933 NE Win Sivers Drive  #205 Portland OR 97220  United States  Toll-Free: 1–800–792–5285  UK: +44–845–528–1300  Hong Kong: +852–301–84916  India (Pune): +91–20–66346060  Fax: +1–855–550–5975  help@alliedmarketresearch.com  Web: https://www.alliedmarketresearch.com  Follow Us on LinkedIn and Twitter 

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