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The global predictive maintenance market held a market value of USD 4,029.4 Million in 2020 and is projected to reach USD 18,653.2 Million by the year 2027. The market is anticipated to grow at a CAGR of 26.5% from 2021 to 2027. Predictive maintenances uses the data driven, proactive maintenance methods which are designed for analysing the condition of an equipment and helps to predict when maintenance should be performed. The market is expected to be driven by the rising urbanization coupled with rampant digitalization. Furthermore, growing demand to decrease operation and maintenance cost are also estimated to fuel the market growth.