The global predictive maintenance market size was valued at USD 7.85 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 29.5% from 2023 to 2030. Integrating AI and ML into predictive maintenance prevents unplanned downtime and asset failures. AI-based preventive maintenance solutions include IoT hardware components that connect physical assets and an advanced...

The global predictive maintenance market size is projected to reach USD 60.13 billion by 2030, registering a CAGR of 29.5% from 2023 to 2030, according to a new study by Grand View Research, Inc. The advancement in technologies such as AI and ML has been a major factor in driving the growth of the predictive maintenance market over the forecast period. AI and ML technologies enable...