LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent industrial predictive maintenance market in APAC 2017-2021 report. This market research report also lists 14 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the industrial predictive maintenance market in APAC is expected to grow at a CAGR of more than 34% during the forecast period. The market will witness linear growth from the rising markets in East Asia and Southeast Asia. These regions are expected to provide the necessary impetus for the growth of the industrial predictive maintenance market during the forecast period. Recent advances in IoT, Industrial Internet of Things (IIoT), AI, and big data adoptions are vital sources and will elevate the growth of the industrial predictive maintenance market in APAC.
According to Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for automation research, “Major manufacturing companies require predictive maintenance solutions and services in their operations. They prefer the services of established vendors due to their high brand value and expertise in technologies such as AI, cloud computing, big data, and services. High R&D investments by these vendors have led to rapid advances in industrial predictive maintenance for real-time services.”
The report also states that the option of cloud-based and on-premises predictive maintenance provides a wide range of opportunities for end-user industries. Well-established vendors are emphasizing on regional expansion, which helps end-users in increasing production capacities. This is creating options for Asian vendors to collaborate with the US and German vendors to organize and strengthen their portfolio. These developments and collaborations are increasingly gaining contracts for installation, maintenance, and monitoring services from end-user companies in APAC.
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Technavio market research analysts identify the following key vendors:
ADEN
ADEN offers industrial predictive maintenance solutions and services with their digital services to business intelligence. It is providing opportunities for its clients and end-user industries to increase their operational efficiency with strategic decisions. Its predictive maintenance solutions help to understand the condition of equipment and the status of the maintenance that is required.
Bosch Software Innovations
Bosch Software Innovations creates solutions, services, and consulting for industrial predictive maintenance. Bosch Connected Devices and Solutions offers intelligent sensor devices and integrated solutions for predictive maintenance and condition monitoring. Its Industry 4.0 approach helps in real-time control of tools and asset condition to schedule and perform predictive maintenance activities.
Huawei Technologies
Huawei Technologies offers industrial predictive maintenance with intelligent cloud infrastructure. It recently collaborated with General Electric Digital to provide industrial cloud-based predictive maintenance solution. As ICT is converging at an increasingly rapid pace, latest technologies such as cloud computing and big data will help transform predictive maintenance solutions in APAC.
IBM
IBM offers predictive maintenance software solutions from multiple data sources in real time. This helps to analyze and predict asset failure or any issues related to the quality of products, which leads to a reduction in downtime and maintenance costs. IBM’s predictive maintenance products use powerful analytics in combination with data integration and management. Thus, it helps companies to minimize operational costs, followed by improvement in asset performance.
SAP SE
SAP SE offers industrial predictive maintenance for both cloud-based and on-premises edition. It helps in managing assets efficiently with regions getting more and more connected, especially APAC. The remote service management and new business models have positively supported the growth of SAP SE and other affiliated companies. The IoT-enabled predictive maintenance and services help in analyzing and monitoring equipment data, which helps to correlate with business information and predict future malfunctions.
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