Saudi Arabia Predictive Maintenance Market Size & Outlook
Saudi Arabia predictive maintenance market, 2018-2030 (US$M)
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Saudi Arabia predictive maintenance market highlights
- The Saudi Arabia predictive maintenance market generated a revenue of USD 156.4 million in 2023 and is expected to reach USD 957.1 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 29.5% 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.
Predictive maintenance market data book summary
| Market revenue in 2023 | USD 156.4 million |
| Market revenue in 2030 | USD 957.1 million |
| Growth rate | 29.5% (CAGR from 2023 to 2030) |
| Largest segment | Solution |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Saudi Arabia accounted for 1.6% of the global predictive maintenance market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa predictive maintenance market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,504.0 million by 2030.
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Predictive Maintenance Market Scope
Predictive Maintenance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia 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 81.33% in 2023. Horizon Databook has segmented the Saudi Arabia predictive maintenance market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia predictive maintenance market is expected to witness significant growth over the forecast period. The growth of the market in Saudi Arabia can be attributed to the emergence of technologies such as Virtual Reality (VR), Internet of Things (IoT), and Robotic Process Automation (RPA) over the past few years.
RPA with its cost-saving abilities, speed, and efficiency is gradually making inroads into all the industries. RPA has also emerged as the fastest-growing trend in the manufacturing sector, to ensure high-value creation, fast time-to-value, and notable cost savings.
These factors empower robots to perform industrial operations and activities, such as product detection, assembling, and random part grasping, that were previously performed by people.
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Our clientele includes a mix of predictive maintenance market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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 country-level data and insights on the Saudi Arabia predictive maintenance market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia predictive maintenance market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia predictive maintenance market size, by component, 2018-2030 (US$M)
Saudi Arabia Predictive Maintenance Market Outlook Share, 2023 & 2030 (US$M)
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