South Korea Predictive Maintenance Market Size & Outlook
South Korea predictive maintenance market, 2018-2030 (US$M)
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South Korea predictive maintenance market highlights
- The South Korea predictive maintenance market generated a revenue of USD 300.1 million in 2023 and is expected to reach USD 2,199.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 32.9% 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 300.1 million |
| Market revenue in 2030 | USD 2,199.6 million |
| Growth rate | 32.9% (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, South Korea accounted for 3.0% 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 Asia Pacific, Japan predictive maintenance market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,398.5 million by 2030.
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Predictive Maintenance Market Scope
Predictive Maintenance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea 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 78.67% in 2023. Horizon Databook has segmented the South Korea predictive maintenance market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The South Korea predictive maintenance market is expected to witness significant growth over the forecast period. Businesses in South Korea are focusing on globalization for developing a regional business environment, thereby creating traction in the South Korean predictive maintenance market.
This has increased the adoption of predictive maintenance solutions over the past few years. Moreover, vendors and tech companies are working with local companies as their channel partners for the distribution, promotion, and marketing of predictive maintenance solutions.
In addition, a rapid increase in the number of Small & Medium Enterprises (SMEs) in the region and their increased focus on the implementation of next-generation technologies to drive regional and global businesses are anticipated to drive the growth of the market in South Korea.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea predictive maintenance market , including forecasts for subscribers. This country databook contains high-level insights into South Korea predictive maintenance market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea predictive maintenance market size, by component, 2018-2030 (US$M)
South Korea Predictive Maintenance Market Outlook Share, 2023 & 2030 (US$M)
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