Global Industry Analysts, Inc. - Influencer Driven AI Powered Real-Time Market Intelligence

The global market for Predictive Maintenance is projected to reach US$10 billion by 2025, driven by the growing value of predictive intelligence in asset management. Given that effective plant asset management and maintenance is the cornerstone for achieving excellence in manufacturing productivity, there is significant focus shed on technologies that help in more smart and efficient asset monitoring and maintenance. Legacy maintenance programs which are primarily static in nature and characterized by time-based manual inspection are growing out of favor and are being replaced by newer concepts such as predictive maintenance (PdM). Defined as a strategy where maintenance is scheduled at a future date based on analysis of sensor data measurements, PdM is proactive and is designed to increase reliability of machine and decrease their downtime.   PdM is an advanced form of maintenance that offers benefits over and above condition-based maintenance (CbM) which utilizes real-t...

The global market for Data Historian is projected to reach US$1.1 billion by 2025, driven by the rise of industrial big data and the growing importance of storing process data for time-series analysis to extract phenomena like long-term trends, cyclical fluctuations and anomalies.  With modern businesses operating in data-intensive environments, data is at the core of about every vital business decision. Data volumes are increasing at an alarming rate with organizations becoming more scattered and large number of sensors being used. Consolidating and managing the large amount of industrial big data derived from various devices, systems and applications has become a major challenge for industries. On the other hand, rapid expansion of businesses has further increased the need for precise information to make accurate decisions. Growing in popularity under this scenario is data historian also called as operational historian or process historian, and defined as an intelligent soft...

The global market for Electrical Enclosure is projected to reach US$8.1 billion by 2025, driven by the massive quantities of electricity produced and consumed worldwide, and the ensuing focus on safe electricity use and consumption. Other major factors driving growth in the market include ubiquity of power electronics; implementation of strict electrical safety regulations; continuous technology innovation in materials; upgrades of power and energy infrastructure; projected increase in renewable energy generation amidst rising environmental awareness and shift towards non-fossil fuel sources; frequent upgrades of enclosure performance standards; and robust demand for explosion-proof enclosures in the oil and gas industry, among others. Benefits of electrical enclosures driving their adoption and making them a staple in electrical best practices include ability to dissipate heat thus contributing towards equipment safety; enhanced employee safety and reduces the risk of electrical f...