Preventive maintenance refers to general, routine maintenance to help keep devices up and running, preventing any accidental downtime and costly expenses from unexpected hardware failure. Increasing demand for maintenance reports is one of the essential growth factors for the global preventive maintenance software market.
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One of the recent trends that will pick up footing in the preventive maintenance software market in the forecasted years is the rising market of Internet of Things in preventive maintenance. According to Coherent Market Insights analysis in 2016, around 17.7 billion devices are installed or connected up from 15.4 billion and is predicted to reach up to 62 billion in 2024. Internet of Things helps to generate smart communication environment, for example, smart healthcare, smart transportation, smart homes, and smart cars. The expansion of smart connected devices has expanded because of the rise of internet of things. Smart connected devices incorporate portable imaging devices and navigation devices with cellular devise and these gadgets offers information about machines and their working conditions. More over the data security and privacy issue become one major challenge which hinders the growth of the global preventive maintenance software market.
Preventive Maintenance Software Market Outlook – North America to be growth engine
On the basis of geography, the study is diversified into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The North America hold the dominating position in the global preventive maintenance software market and is expected. Due to high presence of market leaders and high penetration of smartphones offers a major demand for preventive maintenance software in the North America region. The offering of mobile based preventive maintenance software by various venders in North America region also fuels the market of preventive maintenance software in the region. Various preventive maintenance software providers offers a mobile functionality either from web browser or application.
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Dude Solutions, Maintenance Connection, ManagerPlus, IQMS, AssetPoint, Building Engines, eMaint, CWORKS, Argos, DPSI, Corrigo, CyberMetrics, FacilityONE, FMX, Infor, Maintenance Assistant, Hippo CMMS Software, MAPCON Technologies, Maintenance Care, MPulse Maintenance Software, Maxpanda, MicroMain, and TechWare Smartware Group, are some of major companies of the global preventive maintenance software market. Acquisition, merger, innovation and new product launch are some of the major strategies adopted by the market leaders to sustain in the global preventive maintenance software market.