Share this article Share this article FELTON, Calif., Jan. 27, 2021 /PRNewswire/ -- The global predictive maintenance market size is projected to reach USD 28.24 billion in 2025. The market is estimated register more than 37% CAGR from 2019 to 2025, as per a new study by Million Insights. Organizations across the globe are emphasizing on reducing operational expenditure and maintenance cost on their equipment. Incorporation of IoT innovative technologies such as IoT, AI and big data in enterprises have further boosted the deployment of predictive maintenance. Predictive maintenance is being adopted in various industries such as manufacturing, IT & telecom, automotive & transportation and energy & utilities among others. Increasing focus on reducing the down-time in several industrial processes are augmenting the market growth.