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Predictive Maintenance Market Forecasts Growth from $13.89B (2026) to $23.79B by 2031, Profiling ABB, Honeywell, Schneider Electric, IBM & GE Vernova

globenewswire.com
HON Honeywell is mentioned as a major participant in the predictive maintenance market, which is forecast to grow significantly. The article does not provide specific sentiment towards Honeywell's performance within this market. GE GE Vernova is listed as a company profiling the predictive maintenance market. The article does not offer specific sentiment or performance details for GE Vernova. EMR Emerson Electric is identified as a major market participant in the predictive maintenance sector. The article does not provide specific sentiment or performance details for the company. IBM IBM is profiled as a major participant in the predictive maintenance market, which is expected to grow. The article does not provide specific sentiment or performance details for IBM. MSFT Microsoft is listed as a major market participant in predictive maintenance. The article does not provide specific sentiment or performance details for the company. GOOG Google is mentioned as a major participant in the predictive maintenance market. The article does not offer specific sentiment or performance details for the company. AMZN AWS (Amazon Web Services) is listed as a major participant in the predictive maintenance market. The article does not provide specific sentiment or performance details for AWS. PTC PTC is identified as a major market participant in the predictive maintenance sector. The article does not provide specific sentiment or performance details for the company. SNPS C3.ai is listed as a major market participant in the predictive maintenance market. The article does not offer specific sentiment or performance details for the company. ORCL Oracle is mentioned as a major market participant in the predictive maintenance sector. The article does not provide specific sentiment or performance details for the company. BOSC Bentley Systems is identified as a major market participant in the predictive maintenance sector. The article does not provide specific sentiment or performance details for the company.

Predictive Maintenance Market Forecasts Growth from $13.89B (2026) to $23.79B by 2031, Profiling ABB, Honeywell, Schneider Electric, IBM & GE Vernova Dublin, Sept. 25, 2026 (GLOBE NEWSWIRE) -- "Predictive Maintenance Market by Monitoring Infrastructure, Software - Global Forecast to 2031" has been added to ResearchAndMarkets.com's offering.

The global predictive maintenance market is projected to grow from USD 9.71 billion in 2026 to USD 16.74 billion by 2031, registering a compound annual growth rate of 11.5% during the forecast period. Increasing regulatory focus on industrial safety, operational transparency, equipment reliability, and maintenance documentation is accelerating adoption across manufacturing, energy, utilities, transportation, and infrastructure.

Industrial operators are deploying connected sensors, industrial Internet of Things networks, artificial intelligence, machine learning, and advanced analytics to continuously evaluate equipment condition and identify early indications of failure. These investments support data-driven asset monitoring, improve equipment uptime, strengthen operational visibility, and help organizations meet safety and reliability requirements.

Predictive maintenance vendors are expanding platform capabilities by integrating industrial IoT data streams, vibration monitoring, machine learning models, cloud and edge infrastructure, and operational analytics within unified asset performance management ecosystems. Centralized platforms allow maintenance teams to detect performance deviations, issue predictive alerts, schedule service activities, and coordinate operations across geographically distributed facilities. These capabilities improve asset visibility, maintenance planning, production continuity, and decision-making in connected industrial environments.

Manufacturing Expected to Lead the Predictive Maintenance Market

Manufacturing is expected to account for the largest market share as industrial companies prioritize equipment reliability, production continuity, asset utilization, and smart factory development. Manufacturers are integrating condition-monitoring sensors, industrial IoT networks, AI-driven diagnostics, and real-time operational dashboards with factory equipment to monitor machine health and detect anomalies before failures occur.

Predictive maintenance systems help manufacturers reduce unplanned downtime, improve production efficiency, and optimize service schedules across complex facilities. Continued investment in digital manufacturing, industrial automation, and connected factory initiatives is expected to sustain rapid adoption within discrete and process manufacturing operations.

AI-Driven Predictive Maintenance Platforms to Record the Highest CAGR

AI-driven predictive maintenance platform software is projected to grow at the highest CAGR during the forecast period. Enterprises are combining machine learning models with industrial IoT sensors, cloud infrastructure, edge systems, and asset performance applications to analyze historical and streaming equipment data. These platforms detect irregular operating patterns, anticipate potential failures, improve asset availability, and support proactive maintenance planning.

Growth is being reinforced by wider use of AI and machine learning in maintenance analytics, alongside edge computing for faster equipment-data processing. However, high implementation and infrastructure costs, data management complexity, integration with legacy industrial systems, and the need to maintain accurate and reliable model inputs remain significant market considerations.

North America Leads in 2026; Asia Pacific to Grow at the Fastest Rate

North America is expected to hold the largest predictive maintenance market share in 2026. Enterprises in the United States and Canada are adopting AI-enabled maintenance solutions, connected sensors, cloud platforms, and machine learning models to improve asset visibility and prevent operational disruptions. Mature digital infrastructure and the presence of major technology providers and industrial automation companies support large-scale deployments across manufacturing, energy, and transportation.

Asia Pacific is projected to record the highest growth rate through 2031, supported by rapid industrialization, expanding manufacturing capacity, and accelerating digital transformation. Organizations in China, India, Japan, and Southeast Asia are investing in IoT-based monitoring, advanced analytics, AI diagnostics, smart factories, digital infrastructure, and industrial automation to manage equipment fleets, reduce downtime, and improve production reliability.

Competitive Landscape

The report profiles established technology companies, industrial automation specialists, enterprise software providers, cloud companies, and emerging predictive maintenance vendors. Major market participants include Siemens (Germany), ABB (Switzerland), Schneider Electric (France), Emerson Electric (US), Rockwell Automation (US), Honeywell (US), Hitachi (Japan), SKF (Sweden), Fluke Corporation (US), IBM (US), SAP (Germany), Oracle (US), Infor (US), IFS (Sweden), SAS Institute (US), Microsoft (US), AWS (US), Google (US), PTC (US), C3.AI (US), Augury (US), Uptake (US), Upkeep (US), Limble CMMS (US), Maintainx (US), Tractian (US), Samsara (US), Bentley Systems (US), and Hexagon AB (Sweden).

The competitive analysis examines company business overviews, solutions and services, market shares, growth strategies, contracts, partnerships, agreements, product and service launches, mergers and acquisitions, investments, and other recent predictive maintenance market developments. It also assesses emerging startups within the wider market ecosystem.

Market Segmentation and Research Coverage

The predictive maintenance market research is segmented by offering, technology, monitoring technique, deployment mode, asset type, end user, and region.

Research Methodology

Primary research included in-depth interviews with chief executive officers, innovation and technology directors, system integrators, and executives from key organizations operating in the predictive maintenance market. Respondents comprised 34% Tier I companies, 43% Tier II companies, and 23% Tier III companies. By designation, 50% were C-level executives, 30% were director-level respondents, and 20% held other roles.

Regional participation was distributed across North America at 25%, Europe at 30%, Asia Pacific at 30%, the Middle East and Africa at 10%, and Latin America at 5%.

Market Drivers, Opportunities, Challenges, and Restraints

The report provides revenue estimates for the overall predictive maintenance market and its subsegments, enabling market leaders and new entrants to evaluate competitive positioning and develop go-to-market strategies. It also delivers insights into product development, research and development activity, technology innovation, product and service launches, regional market opportunities, untapped geographies, diversification strategies, investments, and the factors shaping future market growth.

Key Attributes:

Key Topics Covered:

Market Dynamics

Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/d502yi

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