The methods for performing predictive maintenance are evolving rapidly and as a result, the market for enabling technology of predictive maintenance is set to boom. By 2024 we expect the market for predictive maintenance in motor driven systems to reach a valuation of $906.1M, posting a CAGR of 40.6% over our forecast period (2018-2024). The products which comprise this valuation include smart sensors, portable monitoring devices, and gateways & software dedicated to predictive maintenance. We project all these components to make up the landscape of the modern predictive maintenance market as new service models begin to emerge which encourage the use of all technologies as one solution.
In addition to the above, Interact Analysis has produced an installed base model for rotating equipment including motors, bearing blocks, gearboxes, fans, pumps, and compressors. Given that these equipment types will be the core assets on which predictive maintenance is performed, understanding the number of these units installed globally and the attachment rate of sensors to these units, helps identify the opportunity that exists for emerging predictive maintenance technology.
Interact Analysis has made every effort to produce the most up to date and accurate market size and forecast. In addition to 40+ hours of primary research interviews, we’ve utilized data from national manufacturing surveys, as well as developed in our other research areas. This data, combined with the data gathered from interviews, are the base at which our estimates are developed.
The report includes a 110-slide written pdf report as well as an excel dashboard containing all data sets outlined above. In addition to these deliverables, users of the research will have unlimited access to the analysts involved in the report to ask further questions.
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