Report Detail
Global Prognostics Health Management System Market 2024 by Company, Regions, Type and Application, Forecast to 2030
- RnM4619671 |
- 26 September, 2024 |
- Global |
- 106 Pages |
- GIR (Global Info Research) |
- Service & Software
Prognostics Health Management (PHM) system is a type of maintenance strategy that leverages advanced analytics, data collection, and decision-making techniques to monitor, analyze, and predict the health and performance of complex equipment used in industry. The goal is to identify potential issues early and prevent unplanned downtime, reduce maintenance costs, and improve safety.
The main goal of a PHM system is to enable proactive maintenance strategies, optimize operational efficiency, and minimize downtime and unexpected failures. By continuously monitoring the asset's condition, analyzing collected data, and applying predictive modeling techniques, a PHM system can:
1. Detect Anomalies: Monitor real-time data from sensors and other sources to identify deviations from normal operating conditions or expected behavior.
2. Diagnose Faults: Analyze collected data and use diagnostic algorithms to determine the root cause of detected anomalies or failures.
3. Predict Remaining Useful Life: Utilize historical data, degradation models, and machine learning techniques to estimate the remaining useful life of the asset or system.
4. Optimize Maintenance Strategies: Move from traditional scheduled maintenance to condition-based or predictive maintenance, allowing for maintenance activities to be performed when needed, optimizing resource allocation and minimizing unnecessary downtime or costs.
5. Provide Decision Support: Generate actionable insights, recommendations, and alerts based on the analyzed data to support operators, maintenance teams, and decision-makers in making informed decisions regarding maintenance planning, resource allocation, asset replacement, and operational improvements.
PHM systems are commonly used in industries such as manufacturing, aerospace, energy, transportation, and healthcare. They help organizations improve asset reliability, reduce maintenance costs, enhance safety, and optimize overall operational efficiency by leveraging real-time data, advanced analytics, and predictive modeling techniques.
According to our (Global Info Research) latest study, the global Prognostics Health Management System market size was valued at US$ 7637 million in 2023 and is forecast to a readjusted size of USD 24030 million by 2030 with a CAGR of 17.7% during review period.
Core global Prognostics Health Management System manufacturers include General Electric (GE), Honeywell and Siemens. The top three companies hold about 14% of the market. North America is the world's largest Prognostics Health Management System market with a market share of about 37%, followed by Europe and Asia Pacific with a market share of 28% and 27%, respectively. In terms of product type, Light Equipment is the largest segment with approximately 76% market share. In terms of application, Transportation is the largest downstream segment, accounting for about 32% of the market share.
This report is a detailed and comprehensive analysis for global Prognostics Health Management System market. Both quantitative and qualitative analyses are presented by company, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2024, are provided.
Key Features:
Global Prognostics Health Management System market size and forecasts, in consumption value ($ Million), 2019-2030
Global Prognostics Health Management System market size and forecasts by region and country, in consumption value ($ Million), 2019-2030
Global Prognostics Health Management System market size and forecasts, by Type and by Application, in consumption value ($ Million), 2019-2030
Global Prognostics Health Management System market shares of main players, in revenue ($ Million), 2019-2024
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Prognostics Health Management System
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Prognostics Health Management System market based on the following parameters - company overview, revenue, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include General Electric (GE), Siemens, Honeywell, Rockwell Automation, SKF, PTC, IBM Corporation, ABB, Schneider Electric, Emerson, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market segmentation
Prognostics Health Management System market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for Consumption Value by Type and by Application. This analysis can help you expand your business by targeting qualified niche markets.
Market segmentation
Prognostics Health Management System market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for Consumption Value by Type and by Application. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Heavy Equipment
Light Equipment
Market segment by Application
Energy and Utilities
Transportation
Manufacturing
Healthcare
Others
Market segment by players, this report covers
General Electric (GE)
Siemens
Honeywell
Rockwell Automation
SKF
PTC
IBM Corporation
ABB
Schneider Electric
Emerson
Mitsubishi Electric
RONDS
Market segment by regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia and Rest of Asia-Pacific)
South America (Brazil, Rest of South America)
Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)
The content of the study subjects, includes a total of 13 chapters:
Chapter 1, to describe Prognostics Health Management System product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top players of Prognostics Health Management System, with revenue, gross margin, and global market share of Prognostics Health Management System from 2019 to 2024.
Chapter 3, the Prognostics Health Management System competitive situation, revenue, and global market share of top players are analyzed emphatically by landscape contrast.
Chapter 4 and 5, to segment the market size by Type and by Application, with consumption value and growth rate by Type, by Application, from 2019 to 2030.
Chapter 6, 7, 8, 9, and 10, to break the market size data at the country level, with revenue and market share for key countries in the world, from 2019 to 2024.and Prognostics Health Management System market forecast, by regions, by Type and by Application, with consumption value, from 2024 to 2030.
Chapter 11, market dynamics, drivers, restraints, trends, Porters Five Forces analysis.
Chapter 12, the key raw materials and key suppliers, and industry chain of Prognostics Health Management System.
Chapter 13, to describe Prognostics Health Management System research findings and conclusion.
1 Market Overview
- 1.1 Product Overview and Scope
- 1.2 Market Estimation Caveats and Base Year
- 1.3 Classification of Prognostics Health Management System by Type
- 1.3.1 Overview: Global Prognostics Health Management System Market Size by Type: 2019 Versus 2023 Versus 2030
- 1.3.2 Global Prognostics Health Management System Consumption Value Market Share by Type in 2023
- 1.3.3 Heavy Equipment
- 1.3.4 Light Equipment
- 1.4 Global Prognostics Health Management System Market by Application
- 1.4.1 Overview: Global Prognostics Health Management System Market Size by Application: 2019 Versus 2023 Versus 2030
- 1.4.2 Energy and Utilities
- 1.4.3 Transportation
- 1.4.4 Manufacturing
- 1.4.5 Healthcare
- 1.4.6 Others
- 1.5 Global Prognostics Health Management System Market Size & Forecast
- 1.6 Global Prognostics Health Management System Market Size and Forecast by Region
- 1.6.1 Global Prognostics Health Management System Market Size by Region: 2019 VS 2023 VS 2030
- 1.6.2 Global Prognostics Health Management System Market Size by Region, (2019-2030)
- 1.6.3 North America Prognostics Health Management System Market Size and Prospect (2019-2030)
- 1.6.4 Europe Prognostics Health Management System Market Size and Prospect (2019-2030)
- 1.6.5 Asia-Pacific Prognostics Health Management System Market Size and Prospect (2019-2030)
- 1.6.6 South America Prognostics Health Management System Market Size and Prospect (2019-2030)
- 1.6.7 Middle East & Africa Prognostics Health Management System Market Size and Prospect (2019-2030)
2 Company Profiles
- 2.1 General Electric (GE)
- 2.1.1 General Electric (GE) Details
- 2.1.2 General Electric (GE) Major Business
- 2.1.3 General Electric (GE) Prognostics Health Management System Product and Solutions
- 2.1.4 General Electric (GE) Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.1.5 General Electric (GE) Recent Developments and Future Plans
- 2.2 Siemens
- 2.2.1 Siemens Details
- 2.2.2 Siemens Major Business
- 2.2.3 Siemens Prognostics Health Management System Product and Solutions
- 2.2.4 Siemens Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.2.5 Siemens Recent Developments and Future Plans
- 2.3 Honeywell
- 2.3.1 Honeywell Details
- 2.3.2 Honeywell Major Business
- 2.3.3 Honeywell Prognostics Health Management System Product and Solutions
- 2.3.4 Honeywell Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.3.5 Honeywell Recent Developments and Future Plans
- 2.4 Rockwell Automation
- 2.4.1 Rockwell Automation Details
- 2.4.2 Rockwell Automation Major Business
- 2.4.3 Rockwell Automation Prognostics Health Management System Product and Solutions
- 2.4.4 Rockwell Automation Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.4.5 Rockwell Automation Recent Developments and Future Plans
- 2.5 SKF
- 2.5.1 SKF Details
- 2.5.2 SKF Major Business
- 2.5.3 SKF Prognostics Health Management System Product and Solutions
- 2.5.4 SKF Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.5.5 SKF Recent Developments and Future Plans
- 2.6 PTC
- 2.6.1 PTC Details
- 2.6.2 PTC Major Business
- 2.6.3 PTC Prognostics Health Management System Product and Solutions
- 2.6.4 PTC Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.6.5 PTC Recent Developments and Future Plans
- 2.7 IBM Corporation
- 2.7.1 IBM Corporation Details
- 2.7.2 IBM Corporation Major Business
- 2.7.3 IBM Corporation Prognostics Health Management System Product and Solutions
- 2.7.4 IBM Corporation Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.7.5 IBM Corporation Recent Developments and Future Plans
- 2.8 ABB
- 2.8.1 ABB Details
- 2.8.2 ABB Major Business
- 2.8.3 ABB Prognostics Health Management System Product and Solutions
- 2.8.4 ABB Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.8.5 ABB Recent Developments and Future Plans
- 2.9 Schneider Electric
- 2.9.1 Schneider Electric Details
- 2.9.2 Schneider Electric Major Business
- 2.9.3 Schneider Electric Prognostics Health Management System Product and Solutions
- 2.9.4 Schneider Electric Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.9.5 Schneider Electric Recent Developments and Future Plans
- 2.10 Emerson
- 2.10.1 Emerson Details
- 2.10.2 Emerson Major Business
- 2.10.3 Emerson Prognostics Health Management System Product and Solutions
- 2.10.4 Emerson Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.10.5 Emerson Recent Developments and Future Plans
- 2.11 Mitsubishi Electric
- 2.11.1 Mitsubishi Electric Details
- 2.11.2 Mitsubishi Electric Major Business
- 2.11.3 Mitsubishi Electric Prognostics Health Management System Product and Solutions
- 2.11.4 Mitsubishi Electric Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.11.5 Mitsubishi Electric Recent Developments and Future Plans
- 2.12 RONDS
- 2.12.1 RONDS Details
- 2.12.2 RONDS Major Business
- 2.12.3 RONDS Prognostics Health Management System Product and Solutions
- 2.12.4 RONDS Prognostics Health Management System Revenue, Gross Margin and Market Share (2019-2024)
- 2.12.5 RONDS Recent Developments and Future Plans
3 Market Competition, by Players
- 3.1 Global Prognostics Health Management System Revenue and Share by Players (2019-2024)
- 3.2 Market Share Analysis (2023)
- 3.2.1 Market Share of Prognostics Health Management System by Company Revenue
- 3.2.2 Top 3 Prognostics Health Management System Players Market Share in 2023
- 3.2.3 Top 6 Prognostics Health Management System Players Market Share in 2023
- 3.3 Prognostics Health Management System Market: Overall Company Footprint Analysis
- 3.3.1 Prognostics Health Management System Market: Region Footprint
- 3.3.2 Prognostics Health Management System Market: Company Product Type Footprint
- 3.3.3 Prognostics Health Management System Market: Company Product Application Footprint
- 3.4 New Market Entrants and Barriers to Market Entry
- 3.5 Mergers, Acquisition, Agreements, and Collaborations
4 Market Size Segment by Type
- 4.1 Global Prognostics Health Management System Consumption Value and Market Share by Type (2019-2024)
- 4.2 Global Prognostics Health Management System Market Forecast by Type (2025-2030)
5 Market Size Segment by Application
- 5.1 Global Prognostics Health Management System Consumption Value Market Share by Application (2019-2024)
- 5.2 Global Prognostics Health Management System Market Forecast by Application (2025-2030)
6 North America
- 6.1 North America Prognostics Health Management System Consumption Value by Type (2019-2030)
- 6.2 North America Prognostics Health Management System Market Size by Application (2019-2030)
- 6.3 North America Prognostics Health Management System Market Size by Country
- 6.3.1 North America Prognostics Health Management System Consumption Value by Country (2019-2030)
- 6.3.2 United States Prognostics Health Management System Market Size and Forecast (2019-2030)
- 6.3.3 Canada Prognostics Health Management System Market Size and Forecast (2019-2030)
- 6.3.4 Mexico Prognostics Health Management System Market Size and Forecast (2019-2030)
7 Europe
- 7.1 Europe Prognostics Health Management System Consumption Value by Type (2019-2030)
- 7.2 Europe Prognostics Health Management System Consumption Value by Application (2019-2030)
- 7.3 Europe Prognostics Health Management System Market Size by Country
- 7.3.1 Europe Prognostics Health Management System Consumption Value by Country (2019-2030)
- 7.3.2 Germany Prognostics Health Management System Market Size and Forecast (2019-2030)
- 7.3.3 France Prognostics Health Management System Market Size and Forecast (2019-2030)
- 7.3.4 United Kingdom Prognostics Health Management System Market Size and Forecast (2019-2030)
- 7.3.5 Russia Prognostics Health Management System Market Size and Forecast (2019-2030)
- 7.3.6 Italy Prognostics Health Management System Market Size and Forecast (2019-2030)
8 Asia-Pacific
- 8.1 Asia-Pacific Prognostics Health Management System Consumption Value by Type (2019-2030)
- 8.2 Asia-Pacific Prognostics Health Management System Consumption Value by Application (2019-2030)
- 8.3 Asia-Pacific Prognostics Health Management System Market Size by Region
- 8.3.1 Asia-Pacific Prognostics Health Management System Consumption Value by Region (2019-2030)
- 8.3.2 China Prognostics Health Management System Market Size and Forecast (2019-2030)
- 8.3.3 Japan Prognostics Health Management System Market Size and Forecast (2019-2030)
- 8.3.4 South Korea Prognostics Health Management System Market Size and Forecast (2019-2030)
- 8.3.5 India Prognostics Health Management System Market Size and Forecast (2019-2030)
- 8.3.6 Southeast Asia Prognostics Health Management System Market Size and Forecast (2019-2030)
- 8.3.7 Australia Prognostics Health Management System Market Size and Forecast (2019-2030)
9 South America
- 9.1 South America Prognostics Health Management System Consumption Value by Type (2019-2030)
- 9.2 South America Prognostics Health Management System Consumption Value by Application (2019-2030)
- 9.3 South America Prognostics Health Management System Market Size by Country
- 9.3.1 South America Prognostics Health Management System Consumption Value by Country (2019-2030)
- 9.3.2 Brazil Prognostics Health Management System Market Size and Forecast (2019-2030)
- 9.3.3 Argentina Prognostics Health Management System Market Size and Forecast (2019-2030)
10 Middle East & Africa
- 10.1 Middle East & Africa Prognostics Health Management System Consumption Value by Type (2019-2030)
- 10.2 Middle East & Africa Prognostics Health Management System Consumption Value by Application (2019-2030)
- 10.3 Middle East & Africa Prognostics Health Management System Market Size by Country
- 10.3.1 Middle East & Africa Prognostics Health Management System Consumption Value by Country (2019-2030)
- 10.3.2 Turkey Prognostics Health Management System Market Size and Forecast (2019-2030)
- 10.3.3 Saudi Arabia Prognostics Health Management System Market Size and Forecast (2019-2030)
- 10.3.4 UAE Prognostics Health Management System Market Size and Forecast (2019-2030)
11 Market Dynamics
- 11.1 Prognostics Health Management System Market Drivers
- 11.2 Prognostics Health Management System Market Restraints
- 11.3 Prognostics Health Management System Trends Analysis
- 11.4 Porters Five Forces Analysis
- 11.4.1 Threat of New Entrants
- 11.4.2 Bargaining Power of Suppliers
- 11.4.3 Bargaining Power of Buyers
- 11.4.4 Threat of Substitutes
- 11.4.5 Competitive Rivalry
12 Industry Chain Analysis
- 12.1 Prognostics Health Management System Industry Chain
- 12.2 Prognostics Health Management System Upstream Analysis
- 12.3 Prognostics Health Management System Midstream Analysis
- 12.4 Prognostics Health Management System Downstream Analysis
13 Research Findings and Conclusion
14 Appendix
- 14.1 Methodology
- 14.2 Research Process and Data Source
Summary:
Get latest Market Research Reports on Prognostics Health Management System. Industry analysis & Market Report on Prognostics Health Management System is a syndicated market report, published as Global Prognostics Health Management System Market 2024 by Company, Regions, Type and Application, Forecast to 2030. It is complete Research Study and Industry Analysis of Prognostics Health Management System market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.
REPORT YOU MIGHT BE INTERESTED
Related Reports
Reason to Buy
Reports and Markets
Contact Us
+1-352-353-0818 (US)Newsletter
KEEP UP TO DATE ON ALL THE LATEST REPORTS
