Predictive maintenance for manufacturing - Regional Synopsis
North America Market Statistics
Geographically, the predictive maintenance for manufacturing market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. North America industry is anticipated to hold largest revenue share by 2036, driven by rising investments in emerging technologies such as IoT, AI, and ML, increasing presence of predictive maintenance vendors, and growing government support for regulatory compliance.
APAC Market Analysis
The rising investments in emerging technologies such as IoT, AI, ML, the increasing presence of predictive maintenance vendors, and growing government support for regulatory compliance are the major factors expected to contribute to the market growth during the forecast period, while Asia Pacific is expected to grow at the highest CAGR during the forecast period. In APAC, the highest growth rate can be attributed to the massive investments made by private and public sectors for enhancing their maintenance solutions, resulting in an increased demand for predictive maintenance solutions used for automating the maintenance and plant safety process.
