Predictive Maintenance Market To Grow at CAGR 31% till 2022 : TechSci Research
INVC NEWS New Delhi, Growing industrialisation, increasing use of technologically advanced machines and equipment, and rising focus towards reducing the operational costs to aid global predictive maintenance market through 2022 According to a recently released TechSci Research report, “Global Predictive Maintenance Market By Component, By Deployment Type, By End User, Competition Forecast & Opportunities, 2012 – 2022”, the global predictive maintenance market is projected to grow at a CAGR of over 31% during 2017 – 2022. Predictive maintenance is a maintenance strategy in which the overall condition of the equipment is detected well in before the time so as to reduce the risk of failure or downtime of the equipment. Predictive maintenance platform gives real time information about the equipment’s condition by evaluating the different data points received from the machine or equipment. Growing awareness among the consumers about the benefits of using predictive maintenance coupled with growing deployment of Industrial Internet of Things is aiding the global predictive maintenance market.