Predictive Maintenance in the Energy Market report presents in-depth analysis of Predictive Maintenance in the Energy which includes market size, share, growth and demand forecast until 2023 (in USD billion). Predictive Maintenance in the Energy market report includes research methodology, value chain analysis, industry analysis by power of suppliers and consumers. Predictive Maintenance in the Energy market report also includes new upcoming technology of Predictive Maintenance in the Energy Industry that will helps to our clients.
Industry experts project Predictive Maintenance in the Energy market to grow at a CAGR of 31.6% during the period 2018-2023.
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The market for predictive maintenance in the energy sector is projected to register a CAGR of 31.6% during the forecast period (2018 – 2023). The scope of this report is limited to segments which include, offering, solution and services, deployment model on-premise and cloud, and organization size comprising of small & medium enterprise (SME) and large enterprises. The regions considered in the scope of the report include – North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
With the demand for energy growing at 2.3% year-on-year, the investments in the sector have been on the rise. Organizations and governments are encouraging new technologies that improve efficiency and optimize resource consumption. The adoption rates of automation and IoT technologies in the energy sector have been observed to be high in comparison with other industries. The emerging nations have also been found to be projecting a positive growth trend in the infrastructure development. With maintenance being one of the critical components in the energy sector, the industry has been researching new technologies to streamline maintenance efficiency and costs. Predictive maintenance is, thus, finding increasing interest with industries and is already witnessing positive outcomes from the technology.
Cloud Predictive Maintained Witnessing Rapid Growth in the Market
Penetration of cloud technologies in industries has led to increase in demand for cloud-based deployment. Flexibility and on-demand pricing models are attracting SMEs toward cloud-based solutions. With most of the companies in the sector being first time consumers, many end-users have been anticipating the use of cloud predictive maintenance solutions. Large enterprises also moving toward cloud-based platforms, with increasing focus on cost savings and reliability. With many players entering the market and pushing cloud as the primary platform, the market is projected to witness a sharp increase in demand during the forecast period.
Europe to be Key Market
Many European countries have been investing heavily in the energy sector, with renewable energy being the primary focus of many countries. European industries have been financing clean-energy sources, to reduce the carbon emissions and increase the efficiency of energy infrastructure. Predictive maintenance solutions, are thus, finding increasing interest among the consumers in the European market. With this region being one of the pioneer markets for the adoption of automation and analytics, the consumption of predictive maintenance solutions is projected to grow in the market. With increase investments in energy sector, Asia-Pacific is also expected to project fast growth rate in the coming years.
Key Developments in the Market
• Apr 2018 – Sempra renewables selected Ensemble Energy’s predictive analytics platform to improve wind energy production at lower operating costs. This extended pilot program is expected to draw interest among other energy companies to explore predictive maintenance.
• Mar 2018 – Capgemini announced a partnership with Statoil to deliver innovative digital solutions in the energy sector. The agreement covers a range of specialist digital solutions, which also includes predictive maintenance.
Major Players :IBM CORPORATION, SAP SE, SIEMENS LTD, MICROSOFT CORPORATION, GE AUTOMATION & CONTROL, INTEL CORPORATION, ROBERT BOSCH GMBH, ACCENTURE PLC, ABB LTD, amongst others.
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Global Predictive Maintenance in the Energy Market Regional Segment Analysis (Regional Production Volume, Consumption Volume, Revenue and Growth Rate 2013-2023):
- North America: United States, Canada and Mexico
- Europe: Germany, UK, France, Italy, Russia, Spain and Benelux
- Asia Pacific: China, Japan, India, Southeast Asia and Australia
- Latin America: Brazil, Argentina and Colombia
- Middle East and Africa: Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Global Predictive Maintenance in the Energy Market Segmentation:
- Type 1
- Type 2
- Application 1
- Application 2
The Predictive Maintenance in the Energy Market report also answers the key questions of the clients; these are:
- How big is the market opportunity?
- What are the forces influencing the market growth?
- What will be the market size at the end of the forecast?
- Which regions and sub-segments will grow at the highest rate?
- How will the regulatory scenario impact the Biosolids market?
- What are the top strategies that the companies in the market are adopting?
- How will the patent expires shape the market dynamics?
- How will the market dynamics be shaped by the end of the forecasting horizon?
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