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Predictive Maintenance Market size worth USD 49.54 Billion, Globally, by 2030 at 27.45% CAGR: Verified Market Research®
The “Global Predictive Maintenance Market Size By Technology, By Component, By Application, By End-User, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Predictive Maintenance Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., Sept. 25, 2023 /PRNewswire/ — The Global Predictive Maintenance Market is projected to grow at a CAGR of 27.45% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 4.9 Billion in 2021 and is expected to reach USD 49.54 Billion by the end of the forecast period.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=217711
Browse in-depth TOC on “Predictive Maintenance Market“
202 – Pages
126 – Tables
37 – Figures
Groundbreaking Advancements in Predictive Maintenance Market: A Paradigm Shift in Industrial Asset Management
The Predictive Maintenance Market is undergoing a transformative evolution, driven by the fusion of predictive analytics and cutting-edge Artificial Intelligence (AI) technologies within the Internet of Things (IoT) ecosystem. As industries increasingly recognize the economic and operational benefits of proactive asset management, the market is poised for unprecedented growth. In this dynamic landscape, North America leads the charge, boasting the largest market share and an impressive Compound Annual Growth Rate (CAGR) during the forecast period.
Predictive Maintenance Market Drivers and Trends:
- Predictive maintenance (PdM), with its predictive analytics foundation, is rapidly gaining prominence as a strategic maintenance program technique. The key drivers propelling this growth include:
- Cost Efficiency: The adoption of predictive maintenance optimizes the allocation of limited resources, resulting in cost savings compared to reactive maintenance strategies.
- Operational Uptime: By preemptively identifying equipment failures and anomalies, predictive maintenance maximizes equipment uptime, minimizing costly downtimes.
- Enhanced Quality and Supply Chain Efficiency: Improved equipment reliability and efficient maintenance scheduling positively impact the quality of products and streamline supply chain operations.
- Stakeholder Satisfaction: The strategic application of predictive maintenance translates into enhanced stakeholder satisfaction, as businesses operate more efficiently and reliably.
Predictive Maintenance Market Opportunities and Outlook:
The integration of AI-based IoT solutions into predictive maintenance is opening up a world of opportunities. Businesses can now forecast equipment breakdowns ahead of time, reducing the disruptions caused by unexpected machinery failures. Key opportunities include:
- Trend Analysis: Predictive maintenance enables the discovery of trends within vast streams of data, facilitating the proactive identification of potential equipment malfunctions.
- Needs-Based Maintenance: Real-time analysis of data empowers predictive maintenance to generate predictions, allowing for needs-based maintenance tailored to specific equipment conditions.
- Advanced Monitoring Nodes: The deployment of intelligent monitoring nodes within dedicated condition monitoring systems enhances the speed and accuracy of anomaly detection, leading to quicker response times.
- Real-time Condition Monitoring: The shift towards real-time condition monitoring is driven by the need for faster data access, necessitating the combination of in-memory databases and real-time analysis.
- Security and Privacy: The evolving landscape of predictive maintenance also presents opportunities for addressing privacy and security concerns, with particular focus on securing IoT devices and networks.
Predictive Maintenance Market Key Players:
Several prominent players are contributing to the rapid advancement of the Predictive Maintenance Market. Notable industry leaders and innovators include Robert Bosch GmbH, IBM, Software AG among others.
The Predictive Maintenance Market is on a trajectory of unprecedented growth, driven by advancements in predictive analytics, AI, and IoT technologies. With a focus on cost efficiency, operational uptime, quality improvement, and stakeholder satisfaction, the market is poised for transformative change. As North America continues to lead in this domain, the Predictive Maintenance Market presents promising opportunities for innovation, security enhancement, and resilient supply chain operations.
To get market data, market insights, financial statements and a comprehensive analysis of the Global Predictive Maintenance Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Predictive Maintenance Market into Technology, Component, Application, End-User, And Geography.
- Predictive Maintenance Market, by Technology
o Cloud-Based
o On-Premise - Predictive Maintenance Market, by Component
o Software
o Service - Predictive Maintenance Market, by End-User
o Government and Defense
o Manufacturing
o Energy and Utilities
o Transportation and Logistics
o Healthcare and Life Sciences
o Others - Predictive Maintenance Market, by Application
o Heavy Machinery
o Small Machinery
o Others - Predictive Maintenance Market, by Geography
o North America
U.S
Canada
Mexico
o Europe
Germany
France
U.K
Rest of Europe
o Asia Pacific
China
Japan
India
Rest of Asia Pacific
o ROW
Middle East & Africa
Latin America
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Visualize Predictive Maintenance Market using Verified Market Intelligence:
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WinesDirect Awards Reveal Top Wine Supermarkets, Clubs and Brands of 2024 as Voted by Over 1750 Wine Lovers
- UK wine comparison website polled over 1750 wine lovers for 2024 Awards
- Awards categories included best supermarket, club and merchant for wine
- Best wine and champagne brands also chosen by popular vote
- Tesco win Wine Supermarket of the Year with diverse and affordable range
GUILDFORD, England , Nov. 18, 2024 /PRNewswire/ — WinesDirect, leading UK wine offers and pricing comparison website reveals the winners of its annual WinesDirect Awards including Best Wine Supermarket, Best Large Wine Merchant, Best Wine Club and Best Wine & Champagne Brands.
The WinesDirect Awards reflects the opinions of over 1750 wine lovers who were polled over a seven-day period this September. As well as stating their favourite supermarket, large merchant, club and brands, participants were also asked to explain their choices. The winner was the nomination with the most votes in each category.
The winners of each category are:
- Tesco – Wine Supermarket of the Year
- Majestic – Large Wine Merchant of the Year
- Laithwaites – Wine Club of the Year
- Yellow Tail – Wine Brand of the Year
- Bollinger – Champagne Brand of the Year
David Andrews DipWSET, who writes tasting notes for WinesDirect, says:
“We are thrilled by this year’s record-breaking number of respondents; it is the highest participation on our annual awards survey we have ever received. Congratulations to all winners and highly commended supermarkets, wine clubs, and merchants of 2024!”
Supermarket of the Year
Tesco is crowned Wine Supermarket of the Year, earning praise for its diverse and affordable wine selection. Sainsbury’s is Highly Commended as respondents rave about its impressive array of international wines and exclusive deals.
Large Wine Merchant of the Year
Majestic has been awarded Large Wine Merchant of the Year it’s wide range and the expertise of its staff setting it apart from the competition. Laithwaites followed closely; respondents praised the company’s dedication to organic and sustainable options.
The survey results suggest that when shopping with wine merchants, customer service and a personalised, engaging shopping experience is most important.
Wine Club of the Year
Wine Club of the Year is awarded to Laithwaites due to its flexibility, customisable experience and positive community. Naked Wines secured the second spot with the WinesDirect audience applauding their money-back guarantee and mission to supporting emerging winemakers.
Wine Brand of the Year
Yellow Tail wins Wine Brand of the Year, celebrated for its consistent quality, affordability and versatility in pairing with a wide range of dishes. Oyster Bay is Highly Commended for its refined, elegant and refreshing taste, all at an accessible price point.
Champagne Brand of the Year
Bollinger claims top spot for Champagne Brand of the Year with fans praising its luxurious feel, timeless charm and ability to elevate any occasion. Veuve Clicquot is close on its heels for its crisp, refreshing taste balanced by the right amount of fizz.
About WinesDirect
Established in 2005, WinesDirect is a website helping its users discover the best wine deals by showcasing offers from over 50 merchants and supermarkets. The site allows user to easily browse and compare the prices of an extensive selection of wines, beers and spirits. With the ability to set a price alert as well as being able to have side-by-side price comparisons, finding the best value for your money is effortless with WinesDirect.
In 2024, WinesDirect expanded its reach to the USA to help American consumers find equally great wine, beer and spirit deals. The mission of WinesDirect is straightforward: to help people find the best wines at the best prices.
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DUBAI, UAE, Nov. 18, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce an Ethiopia-only limited time offer for Bybit P2P users. From now to Dec. 5, eligible makers and users on Bybit P2P can choose a special rewards track while capturing opportunities in P2P trading.
Registration is required for all three events:
1. Merchant-exclusive Event
On Bybit P2P, users may enter the P2P Maker Battle for a share of a 2,000 USDT prize pool. Merchants may get a share of the prize pool by placing a sell ad in the Ethiopian Birr (ETB) on the Bybit P2P marketplace, inviting others to buy USDT.
The prize pool will be divided by the top 10 merchants who trade with the largest number of unique users, and complete a minimum trading volume of 5,000 USDT and minimum number of 50 unique buyers. To qualify, the Merchant must register and submit their UIDs using this form.
2. Cashback Event: Up to 2% for Existing Users
All buyers have a chance at an easy win from another 8,000 USDT prize pool. Existing P2P users may simply trade to reach a minimum of 500 USDT in trading volume to unlock 2% cashback, up to 10 USDT per user.
3. Sharers Get More
Users have another way to access a 2,000 USDT prize pool by using the “share” button to spread the word about their ETB journey on Bybit P2P. The top 10 participants with the highest views will get to tell their stories and take home the rewards. Interested users may use this form to submit their work.
P2P trading is an organic part of the crypto market and an indispensable tool for improving financial inclusion and interconnectivity between community members. Bybit P2P provides a secure and user-friendly peer-to-peer trading solution, enabling users to seamlessly trade among themselves at zero fees.
Bybit offers resources about posting trades on Bybit P2P, and Ethiopian users may visit here for more.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
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- Tool enables risk managers, brokers and CISOs to better evaluate cyber risk and maximize insurance value
- Cyber Risk Analyzer is the latest release under Aon Actionable Analytics, which already includes Property Risk, Casualty Risk, D&O Risk and Health Risk analyzers
CHICAGO, Nov. 18, 2024 /PRNewswire/ — Aon plc (NYSE: AON), a leading global professional services firm, today launched its Cyber Risk Analyzer, a digital application that allows risk managers to make data-driven, technology-enabled decisions to mitigate cyber risk. The tool is the latest in a series of new offerings, which brings together Aon’s data, tools and analytics professionals to support clients through an evolving risk landscape across sectors.
“As cyber threats continue to grow in frequency, sophistication and severity, organizations face an array of complex risks—from ransomware and business interruption to insider threats and data breaches,” said Christian Hoffman, global specialty and financial products leader for Aon. “Compounding these risks are increased litigation pressures, shifting regulatory landscapes, and heightened scrutiny from shareholders. We designed Aon’s Cyber Risk Analyzer to address these challenges and help clients evaluate and quantify their enterprise cyber risk, enabling them to make better decisions.”
Aon’s Cyber Risk Analyzer allows Aon’s clients and brokers unique access to:
- Loss Forecasting: Model detailed loss scenarios faster, including privacy or data breach and system failure. The analyzer incorporates Aon’s customized proprietary simulation modeling approach based on internal claims insights, independent research by Aon’s Cyber Risk Consulting team and findings from bespoke cyber modeling engagements.
- Exposure Assessment: Integrate with other proprietary Aon tools, including Aon’s Cyber Quotient Evaluation platform (CyQu), to obtain a holistic assessment of a client’s exposures and security controls.
- Total Cost of Risk (TCOR) Analysis: Overlay loss forecasts with customized insurance options to produce TCOR and Catastrophic TCOR analyses.
These capabilities enable brokers to provide risk managers, chief information security officers and corporate leaders a view of the changing cyber risk environment so they can make informed decisions around risk transfer versus risk retention on their balance sheets. Client risk managers will be empowered to deliver insights on optimal insurance capital allocation decisions to their boards of directors and corporate officers.
Empowering Clients with Actionable Insights
The launch of Aon’s Cyber Risk Analyzer follows the 2024 debuts of the firm’s Property Risk Analyzer, Casualty Risk Analyzer, D&O Risk Analyzer and Health Risk Analyzer, that provide exposure visualizations and model potential losses to help Aon’s clients make better informed decisions about their risk and insurance options. The analytics tools are designed by Aon’s Risk Capital and Human Capital capabilities in collaboration with Aon Business Services to provide Aon clients with actionable insights that allow for greater control over their insurance program structure.
“Aon’s Cyber Risk Analyzer builds on Aon’s commitment to equipping clients with insights that enable data-driven decisions,” said Joe Peiser, global CEO of Commercial Risk Solutions for Aon. “As the risk landscape becomes increasingly complex, our team delivers actionable analytics that help our clients confidently evaluate risks and insurance options.”
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon’s newsroom and sign up for news alerts here.
Media Contact
Robert Elfinger
[email protected]
+1 312 610 3182
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