Estimating the true potential of predictive maintenance requires examining both its technological progress and its business impact. The Global Predictive Maintenance (PdM) Market Estimation provides a clear picture of how the market is expanding through the integration of AI, IoT, and automation.

Recent market estimations show that the traditional technique dominated the market and is on track to achieve USD 13,461.00 million by 2024, rising from USD 4,139.60 million in 2018. Meanwhile, the advanced technique segment is projected to grow at an exceptional CAGR of 28.10% during 2019–2024, emphasizing the shift towards next-generation digital technologies.

This market estimation is based on the growing number of industrial facilities implementing predictive models to achieve operational efficiency. PdM tools analyze large datasets from connected devices to identify hidden failure patterns, helping industries make informed maintenance decisions.

From manufacturing plants to smart cities, predictive maintenance is now a fundamental part of data-driven operations. By combining advanced sensors with powerful analytics engines, companies can accurately estimate maintenance needs and reduce overall downtime.

The Global Predictive Maintenance (PdM) Market Estimation also reveals a rising trend toward integrated maintenance solutions, where predictive insights are used in tandem with preventive and condition-based maintenance for maximum effectiveness.