How Predictive Maintenance Became Mainstream
Predictive maintenance was worth just 1.5 billion globally five years ago. Most systems operated independently and were made up of ‘DIY’ type data-science solutions, limiting the advantages of the technology due to a lack of compatibility and comprehension.

Due to the requirement to extend the life lifetime of failing industrial machinery, the predictive maintenance industry is expected to increase rapidly over the next several years. The requirement to maximize the uptime of assets while simultaneously reducing maintenance costs is due to the increase in demand. In industrial manufacturing plants, there have been more severe rules, regulations, and standards that must be followed in order for predictive maintenance to be effective. As a result, predictive maintenance is an important tool in the workplace.

Furthermore, the rising prevalence of sensors in machinery, automobiles, manufacturing facilities, and other hard equipment areas, among other things, is expected to propel the worldwide predictive maintenance market in the forecast future.