Predictive maintenance (PdM) has shifted from niche pilot programs to mainstream operational strategy. By leveraging real-time analytics and AI, organizations forecast equipment health and schedule repairs just in time—avoiding both costly breakdowns and unnecessary servicing.
Explosive Market Growth According to Fortune Business Insights, the global PdM market was valued at $10.93 billion in 2024 and is projected to grow to $13.65 billion in 2025. A separate MarketsandMarkets report forecasts an even steeper CAGR of 35.1 percent from 2024 to 2029, driven by rising AI adoption and IoT deployments.
Financial Impact & ROI Traditional reactive maintenance can cost up to $100,000 per hour in unplanned downtime for critical equipment. By contrast, companies that deploy PdM platforms report:
- 12–18 percent reduction in total maintenance costs
- An average $5 saved for every $1 spent on preventive programs
- A 400 percent return on investment (ROI) within the first year of implementation