In Industry 4.0, maintenance is expected to do more than just reduce downtime. Predictive maintenance and condition monitoring, a prerequisite for building such predictive models, use advanced analytics to significantly increase equipment or machine runtime by identifying early signs of trouble and promptly alerting the operations manager.
Top 5 Countries Globally: Predictive Maintenance
Using our Startup Search Engine covering 1.000.000+ startups & emerging companies, we analyzed the geographic distribution of global activity in predictive maintenance. We identified 1.654 startups and emerging companies that develop predictive maintenance solutions. According to our data, the US, the UK, India, Germany, and Canada account for 66% of global activity in this field.
North America and Europe currently account for more than 80% of global activity in predictive maintenance driven by technologically advanced industries like automotive, manufacturing, and oil & gas. Asia and Australia are expected to see the highest growth over the next few years due to the presence of various manufacturing units and growing demand from the automobile, transportation, and consumer electronics industries. Asia is also seeing a rise in industrial safety regulations, which is set to drive growth for predictive maintenance. Africa and South America see moderate activity in countries working on predictive maintenance solutions.
Let’s take a look at some of the startups & emerging companies from the top 5 countries in predictive maintenance:
#1 United States | 623 Startups & Emerging Companies
Predictive maintenance solutions are being developed across the US. The Greater Silicon Valley Area shows the highest activity in this sector. Los Angeles also sees activity on the west coast of the US. In the east, New York City and Boston show high activity and Houston houses the most number of companies in the south.
Based out of Sommerville, Massachusetts, Palmos offers asset condition monitoring and predictive maintenance solutions for critical transportation infrastructure using intelligent sensors and advanced analytics.
#2 United Kingdom | 153 Startups & Emerging Companies
England shows the highest activity for predictive maintenance solutions in the UK. Concentrated in and around three major hubs in London, Birmingham, and in Manchester, startups and emerging companies are developing several predictive analytics solutions to enable Industry 4.0.
Based in Cambridge, CorrosionRADAR designs permanently embedded, distributed corrosion and moisture sensors that are installed adjacent to pipelines or vessels using advanced analytical models and real-time data on the asset’s integrity.
#3 India | 122 Startups & Emerging Companies
Indian companies are developing predictive maintenance solutions keeping in mind the chaotic nature of manufacturing industries in the country. Bengaluru shows the highest activity in the country followed by the Mumbai-Pune region.
Bengaluru based Credence Robotics develops the Alphonso Predictive Maintenance Systems that can sense over 2.000 industrial parameters and uses Machine Learning (ML) powered algorithms to identify issues and suggest possible solutions for the user.
#4 Germany | 115 Startups & Emerging Companies
One of the major global hubs for high-tech manufacturing, industrial German cities sees increasing activity in predictive maintenance. Berlin and Munich are two major hubs while the western and southwestern regions have hubs in Hamburg, Bremen, Koln, Frankfurt, and Stuttgart.
Operating from Unterföhring, JUCONN offers Artificial Intelligence (AI)-based condition monitoring and predictive maintenance solutions for a range of industries including for Industry 4.0. Through a plug & play model, they allow for integrations irrespective of the hardware in use. They also use innovative injection methods to allow algorithms to run behind the existing firewall to secure the assets.
#5 Canada | 66 Startups & Emerging Companies
The bulk of innovations in predictive maintenance is based in Toronto. Calgary and Ottawa also show some activity in Canada.
Based in Waterloo, Quartic AI develops smart manufacturing solutions including condition-based monitoring and predictive maintenance. They offer 2 solutions, the illuminator, to build custom AI applications and eXponence that uses automated ML, a rules engine, and Complex Event Processing (CEP) to build data intelligence.
To build truly smart factories, the industrial sector must build the capabilities necessary to implement Industry 4.0 solutions like condition monitoring and predictive maintenance. As machines start making decisions on their own, the workforce will look to develop virtualization of the factory to ensure smooth operations. These developments will allow predictive maintenance to become the standard method for maintaining facilities, equipment, and machinery.