Latin America Predictive Maintenance Market Size & Outlook
Latin America predictive maintenance market, 2018-2030 (US$M)
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Latin America predictive maintenance market highlights
- The Latin America predictive maintenance market generated a revenue of USD 1,004.5 million in 2023.
- The market is expected to grow at a CAGR of 31.1% from 2024 to 2030.
- In terms of segment, solution was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,004.5 million |
| Market revenue in 2030 | USD 6,674.0 million |
| Growth rate | 31.1% (CAGR from 2023 to 2030) |
| Largest segment | Solution |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solution, Services |
| Key market players worldwide | Accenture PLC Class A, Cisco Systems Inc, GE Aerospace, Honeywell International Inc, Hitachi Ltd, International Business Machines Corp, Microsoft Corp, PTC, Robert Bosch Engineering & Business Solutions, Rockwell Automation Inc, SAP SE ADR, SAS AB, Schneider Electric SE, Siemens Healthineers AG ADR, Siemens AG, Software AG Registered Shares |
Other key industry trends
- In terms of revenue, Latin America region accounted for 10.2% of the global predictive maintenance market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 17,184.1 million by 2030.
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Predictive Maintenance Market Scope
Predictive Maintenance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America predictive maintenance market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to predictive maintenance market will help companies and investors design strategic landscapes.
Solution was the largest segment with a revenue share of 85.63% in 2023. Horizon Databook has segmented the Latin America predictive maintenance market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The Latin American predictive maintenance market is expected to witness significant growth over the forecast period. The technological industry has been one of the victims of the COVID-19 epidemic, and the industry has been shrinking.
With the imposition of a regional lockdown, trade has been hampered due to the lack of supplies, distributors, online sales, and authorized representatives. The region experienced a rapid reduction in the supply of predictive maintenance components due to the cease of manufacturing units.
Which has interrupted the import of parts and equipment. Predictive maintenance is an outstanding approach for organizations producing items on a large scale to reduce product failures and eliminate waste.
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Our clientele includes a mix of predictive maintenance market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America predictive maintenance market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America predictive maintenance market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America predictive maintenance market size, by country, 2018-2030 (US$M)
Latin America Predictive Maintenance Market Outlook Share, 2023 & 2030 (US$M)
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