Predictive Maintenance Market Growth and Trends | Straits Research

The global Predictive Maintenance Market has been experiencing significant growth and is expected to continue its upward trajectory in the coming years. Valued at USD 7.5 billion in 2023, the market is projected to reach USD 9.8 billion in 2024 and soar to an impressive USD 88.8 billion by 2032. This represents a compound annual growth rate (CAGR) of 31.6% during the forecast period from 2024 to 2032, according to a new report from Straits Research. The increasing demand for cost-effective maintenance solutions and the rising adoption of advanced technologies such as IoT, AI, and machine learning are the key drivers behind this growth.