This paper explores the innovative methodologies and technologies in predictive maintenance, real-time monitoring, fault detection, and advanced control strategies for power electronic devices. Initially, we delve into data acquisition and preprocessing techniques crucial for ensuring the quality and reliability of data used in predictive models. These models, leveraging machine learning and time-series analysis, predict the remaining useful life of devices, guiding proactive maintenance strategies. Furthermore, we discuss the significance of risk assessment and decision support systems in prioritizing maintenance tasks and allocating resources efficiently. The narrative then shifts to real-time monitoring and fault detection, emphasizing the role of sensor integration, data fusion, anomaly detection, and diagnostics in maintaining system integrity. Condition-based maintenance strategies, underscored by real-time data analytics, are presented as a means to optimize maintenance activities and enhance operational performance. The paper concludes with a detailed examination of advanced control strategies, including model predictive control, reinforcement learning, and distributed control and optimization techniques, highlighting their potential to improve system efficiency, reliability, and adaptability. Through comprehensive research and analysis, this work aims to provide valuable insights into the development of sophisticated maintenance and control mechanisms for power electronic systems, ultimately contributing to their longevity and operational efficacy.