The global predictive maintenance market size is expected to grow from USD 4.0 billion in 2020 to USD 12.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period. The major growth drivers of the market include the increasing use of emerging technologies to gain valuable insights, and the growing need to reduce maintenance cost and downtime. Global ICT spending is estimated to decline by 4%–5% by the end of 2020. The hardware business is predicted to have the most impact on the IT industry. Due to the slowdown of hardware supply and reduced manufacturing capacity, the IT infrastructure growth has slowed down. Businesses providing solutions and services are also expected to slow down for a short span of time.