Predictive Maintenance Market worth $16.74 billion by 2031 | MarketsandMarkets™

DELRAY BEACH, Fla., March 17, 2026 /PRNewswire/ -- According to MarketsandMarkets™, the Predictive Maintenance Market is expected to grow from USD 9.71 billion in 2026 to USD 16.74 billion by 2031, reflecting a CAGR of 11.5% during the forecast period.

Browse 457 market data Tables and 80 Figures spread through 377 Pages and in-depth TOC on "Predictive Maintenance Market - Global Forecast to 2031"

Predictive Maintenance Market Size & Forecast:

• Market Size Available for Years: 2021–2031
• 2026 Market Size: USD 9.71 billion
• 2031 Projected Market Size: USD 16.74 billion
• CAGR (2026–2031): 11.5%

Predictive Maintenance Market Trends & Insights:

• Growth is fueled by the increasing need to minimize equipment downtime, optimize maintenance schedules, and improve operational efficiency through data-driven insights.
• Monitoring infrastructure is expected to have the largest market share in 2026.
• Edge computing & edge AI is positioned to showcase the highest growth rate of 14.2% during the forecast period.
• The manufacturing segment is projected to hold the largest market share of 21.2% in 2026.
• North America is expected to hold the largest market share of 29.0% in 2026.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=8656856

The Predictive Maintenance Market is expanding rapidly as organizations modernize asset management strategies and adopt intelligent monitoring systems across industrial operations. Growth is fueled by the increasing need to minimize equipment downtime, optimize maintenance schedules, and improve operational efficiency through data-driven insights. Demand intensifies as enterprises deploy connected sensors and advanced analytics to continuously evaluate equipment performance across distributed facilities. The market is further shaped by trends such as the integration of artificial intelligence within asset management platforms and the adoption of cloud-enabled maintenance solutions that enhance scalability. These advancements enable organizations to detect potential equipment issues earlier, improve maintenance accuracy, and strengthen overall asset reliability across manufacturing, energy, and transportation environments.

By monitoring infrastructure, the sensors & sensing devices segment is poised to dominate the market in 2026.

Sensors and sensing devices hold the largest market share among monitoring infrastructure components due to their widespread deployment across industrial equipment and connected machines. These devices capture real-time operational parameters, such as vibration, temperature, pressure, and acoustic signals, enabling continuous equipment condition monitoring. They are widely implemented across manufacturing plants, energy facilities, and transportation systems to support predictive maintenance strategies. Integration with industrial IoT platforms and asset management systems enables automated data collection and improved visibility into equipment performance. The increasing deployment of smart manufacturing systems, connected machinery, and digitalized industrial operations further strengthens the dominant position of sensors and sensing devices in the Predictive Maintenance Market.

Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=8656856

By monitoring technique, visual inspection is expected to register the fastest growth during the forecast period.

Visual inspection is expanding rapidly as computer vision, drones, and AI-based inspection systems are adopted in industrial environments. These technologies allow organizations to inspect equipment, infrastructure, and production assets without direct manual intervention. Automated visual inspection can identify surface defects, leaks, corrosion, and structural damage that may not be detected through traditional sensors. As industries adopt smart manufacturing and remote monitoring practices, visual inspection solutions are increasingly used to improve fault detection, reduce manual inspection time, and enhance worker safety.

By region, North America is estimated to account for the largest market during the forecast period.

North America is expected to dominate the Predictive Maintenance Market due to early adoption of industrial IoT, artificial intelligence, and advanced analytics across asset-intensive industries. The region benefits from leading technology providers and strong investments in digital asset management and smart manufacturing. Organizations across the manufacturing, energy, aerospace, and transportation sectors widely deploy predictive maintenance platforms to improve equipment reliability and reduce operational downtime. Mature cloud infrastructure and high technology awareness further support the large-scale deployment of asset performance management solutions. Continuous investments in connected industrial systems and data-driven maintenance strategies strengthen North America's leading position in the Predictive Maintenance Market.

Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=8656856

Top Companies in Predictive Maintenance Market:

The Top Companies in Predictive Maintenance Market include ABB (Switzerland), Honeywell (US), Schneider Electric (France), AWS (US), IBM (US), Google (US), Microsoft (US), Hitachi (Japan), GE (US), and Oracle (US).

Browse Adjacent Markets: Analytics Market Research Reports & Consulting

Related Reports:

Advanced Analytics Market - Global Forecast to 2031

Geospatial Intelligence Market - Global Forecast to 2030

Document AI Market - Global Forecast to 2030

Enterprise Monitoring Market - Global Forecast to 2029

IT Operations Analytics Market - Global Forecast to 2029

About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

MarketsandMarkets™ SalesPlay is an AI-driven Revenue Intelligence Co-Pilot designed to help revenue teams prioritize the right accounts, identify critical changes early, and surface opportunities ahead of demand, so pipeline builds naturally and deals close with greater consistency.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets