South Korea Predictive Maintenance Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Solution, and Services), By Testing Type (Vibration Monitoring, Electrical Insulation, Infrared Thermography, Temperature Monitoring, Ultrasonic Leak Detector, and Oil Analysis), and South Korea Predictive Maintenance Market Industry Trend, Forecasts to 2035

South Korea Predictive Maintenance Market Insights Forecasts to 2035

• The South Korea Predictive Maintenance Market Size Was Estimated at USD 321.1 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 33.17% from 2025 to 2035
• The South Korea Predictive Maintenance Market Size is Expected to Reach USD 7,499.6 Million by 2035

According to a research report published by Spherical Insights & Consulting, the South Korea Predictive Maintenance Market is anticipated to reach USD 7,499.6 million by 2035, growing at a CAGR of 33.17% from 2025 to 2035. AI-powered predictive maintenance extends asset lifespan across industries, lowers costs, prevents failures, and reduces downtime using IoT hardware and analytics.

Market Overview

The predictive maintenance market involves the use of data analytics, machine learning, and IoT technologies to monitor equipment condition and predict potential failures before they occur. This approach allows businesses to perform maintenance only when necessary, reducing downtime, extending equipment life, and optimizing operational efficiency. The cost savings, improved safety, and enhanced productivity. The increasing industrial automation, adoption of Industry 4.0, and growing demand for asset reliability. In South Korea, government initiatives promoting smart manufacturing, digital transformation, and investment in AI and IoT infrastructure further support market growth. Programs like the “Smart Factory Initiative” encourage adoption of predictive technologies, positioning South Korea as a regional leader in advanced maintenance and industrial innovation.

Report Coverage

This research report categorizes the market for South Korea predictive maintenance market based on various segments and regions forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea predictive maintenance market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment South Korea predictive maintenance market.

Driving Factors

The growing need to minimize unplanned downtime, reduce maintenance costs, and enhance equipment reliability. Advancements in AI, IoT, and machine learning enable real-time monitoring and accurate failure predictions. The rise of smart manufacturing further accelerates adoption across industries. In South Korea, strong government support for digital transformation and smart factory initiatives, along with increasing demand for operational efficiency and asset optimization, significantly contribute to the market’s rapid and sustained growth.

Restraining Factors

High upfront investment in sensors, analytics platforms, and integration infrastructure can be prohibitive, especially for SMEs with unclear ROI timelines. A persistent skills gap in AI, data analysis, and IoT makes implementation challenging. Organizational resistance to change and cybersecurity concerns further hinder widespread adoption.

Market Segmentation

The South Korea predictive maintenance market share is classified into component and testing type.

• The hardware segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea predictive maintenance market is segmented by component into hardware, solution, and services. Among these, the hardware segment held a significant share in 2024 and is expected to grow at a substantial CAGR during the forecast period. The growing adoption of IoT sensors, vibration monitors, and condition-monitoring devices across manufacturing and industrial sectors. These components are essential for real-time data collection, which forms the backbone of predictive analytics. As smart factory initiatives expand under Industry 4.0 policies, demand for robust hardware infrastructure increases.

• The vibration monitoring industry segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea predictive maintenance market is segmented by testing type into vibration monitoring, electrical insulation, infrared thermography, temperature monitoring, ultrasonic leak detector, and oil analysis. Among these, the vibration monitoring segment dominated a share in 2024 and is expected to grow at a significant CAGR during the forecast period. Its effectiveness in early detection of mechanical issues such as misalignment, imbalance, and bearing failures. Widely used in manufacturing, energy, and automotive industries, vibration monitoring helps prevent costly downtime and equipment damage. Its non-invasive nature and ability to provide continuous real-time insights make it a preferred testing method. As smart factories expand and asset reliability becomes critical.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea predictive maintenance market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Hanmi Pharm
• Samsung Biologics
• GeneMatrix
• Seegene
• Celltrion
• LG Chem Life Sciences
• Syntekabio
• PharmCADD
• DnD Pharmatech
• INFINITT Healthcare
• GC Biopharma (Green Cross Corporation)
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea predictive maintenance market based on the below-mentioned segments:

South Korea Predictive Maintenance Market, By Component

• Hardware
• Solution
• Services

South Korea Predictive Maintenance Market, By Testing Type

• Vibration Monitoring
• Electrical Insulation
• Infrared Thermography
• Temperature Monitoring
• Ultrasonic Leak Detector
• Oil Analysis