Global Machine Condition Monitoring Market, By Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission and Motor Current Analysis), Offering (Hardware and Software), Deployment Type (On-premises and Cloud), Monitoring Process (Online Condition Monitoring and Portable Condition Monitoring), End-Use (Oil and Gas, Power Generation, Metals and Mining, Chemicals, Automotive, Aerospace and Defense, Food and Beverages, Marine and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
Machine condition monitoring market is expected to reach at USD 4.7 billion by 2027, with market growth at a rate of 6.00% in the forecast period of 2020 to 2027. Market is growing due to advent of secure cloud platforms used in the condition monitoring.
Machine condition monitoring is a process of monitoring the condition of a machine, intent to predict mechanical wear and failure. This system provides early warning system for the machines to detect damage in correct time and helps to prevent further consequential damage. Key ingredients used for monitoring the machines are temperature, noise, vibration measurements.
High demand from emerging applications, increasing disposition towards predictive maintenance and increased use of wireless communication technology are driving the growth of the market. Trends of smart factory or 4.0 and the transition from predictive to preventative maintenance will further drive the growth of the market. Advancement in technology such as low cost advanced machine condition monitoring systems, direct communication process and rapid processing functions are anticipated to drive the growth of the market.
Machine condition monitoring also maximize the overall life of machines by providing proper scheduling of maintenance cycles, reliability by the use of effective prediction of faults and failure and will create growth opportunities for machine condition monitoring market in the forecast period of 2020-2027.
Shortage of technical resources for data analysis and uncertainty in forecasting capabilities will act as a restraint, and further challenge the growth of machine condition monitoring market in the forecast period mentioned above.
This machine condition monitoring market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research machine condition monitoring market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Machine Condition Monitoring Market Scope and Market Size
Machine condition monitoring market is segmented on the basis of monitoring technique, offering, deployment type, monitoring process and end-use. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis monitoring technique, the machine condition monitoring market is segmented into vibration monitoring, thermography, oil analysis, corrosion monitoring, ultrasound emission and motor current analysis.
- On the basis of offering, the machine condition monitoring market is segmented into hardware and software. Hardware is further segmented into vibration sensors, infrared sensors, spectrometers, ultrasound detectors, spectrum analyzers, corrosion probes and others. Software is further segmented into data integration, diagnostic reporting, order tracking analysis and parameter calculation.
- On the basis of deployment type, the machine condition monitoring market is segmented into on-premises and cloud.
- On the basis of monitoring process, the machine condition monitoring market is segmented into online condition monitoring and portable condition monitoring.
- Based on end-use, the machine condition monitoring market is segmented into oil and gas, power generation, metals and mining, chemicals, automotive, aerospace and defense, food and beverages, marine and others.
Global Machine Condition Monitoring Market Country Level Analysis
Machine condition monitoring market is analysed and market size, volume information is provided by country, monitoring technique, offering, deployment type, monitoring process and end-use as referenced above.
The countries covered in the global machine condition monitoring market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America is dominating the global machine condition monitoring market as the region has largest multinational corporations and leading players such as Honeywell international, emerson electric and others.
The country section of the machine condition monitoring market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and global machine condition monitoring market Share Analysis
Machine condition monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to machine condition monitoring market.
The major players covered in the machine condition monitoring market report are Emerson Electric Co., General Electric, Honeywell International Inc., National Instruments Corp., AB SRF, ALS, Wilcoxon Sensing Technologies, Rockwell Automation, Inc., PARKER HANNIFIN CORP, Schaeffler AGSYMPHONY AZIMAAI, Brüel & Kjær., Fluke Corporation, Meggitt PLC, PCB Piezotronics, Inc., FLIR Systems, Inc., SPM Instrument AB., Analog Devices, Inc., Machine Saver, 3d SignalsLogiLube, LLC, Petasense Inc., Senseye Ltd, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Machine Condition Monitoring Market
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