Predictive maintenance is an approach used by enterprises to predict future failure points as well as monitor the condition of an asset in real time. Besides passive monitoring, the predictive maintenance technique leverages the benefits of Machine Learning (ML) algorithms that take critical historical data, such as temperature, pressure, and vibration, as an input for providing prediction related to the condition of an asset in real time. The prediction enables enterprises to significantly reduce unplanned machine downtime and decide whether any particular asset needs maintenance. Predictive maintenance also ensures machines are taken for maintenance to reduce production losses. _____________________ 1. Micromarkets are defined as the further segments and sub segments of the global predictive maintenance market included in the report 2. Core competencies of the companies have been captured in terms of their key developments, key observations, and key strategies adopted by them to sustain their positions in the market