The Machine Condition Monitoring market report provides an unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers, which would help stakeholders to device and align market strategies according to the current and future market dynamics. The Machine Condition Monitoring market report thoroughly covers the market by product device, deployment, verticals and countries.
About Machine Condition Monitoring Industry
Machine Condition Monitoring market size will grow from USD 2.23 Billion in 2017 to USD 3.27 Billion by 2023, at an estimated CAGR of 6.58%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
The growth of the market is driven by the development of a secure cloud computing platform, increased use of wireless communication technology for condition monitoring of equipment, and inclination of end users toward predictive maintenance. The machine condition monitoring market has been segmented on the basis of monitoring techniques into vibration monitoring, thermography, oil analysis, corrosion monitoring, ultrasound emission monitoring, and motor current analysis. The market for the motor current analysis technique is expected to grow at the highest CAGR during 2018–2023 owing to the high adoption of this technique by end users due to its capability to sense an electrical signal containing current components, which are by-products of unique rotating flux components, caused by the faults such as broken rotor bars, air gap eccentricity, and shorted turns in low voltage stator windings.
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The overviews, SWOT analysis and strategies of each vendor in the Machine Condition Monitoring market provide understanding about the market forces and how those can be exploited to create future opportunities.
Key Players in this Machine Condition Monitoring market are:–
Emerson Electric, General Electric, Honeywell, National Instruments, SKF, ALS Ltd., Meggitt, Parker Hannifin, Rockwell Automation, Schaeffler, Azima Dli, Bruel & Kjaer, Fluke Corporation, Pruftechnik Dieter Busch, Pcb Piezotronics, Flir Systems, SPM Instrument, Analog Devices, Machine Saver, 3D Signals
By Monitoring Technique
Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Motor Current Analysis
By Deployment Type
On Premise, Cloud, , ,
By Monitoring Process
Online Condition Monitoring, Portable Condition Monitoring, , ,
Oil & Gas , Power Generation , Metals & Mining , Chemicals , Automotive
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This research report consists of the world’s crucial region market share, size (volume), trends including the product profit, price, Value, production, capacity, capability utilization, supply, and demand and industry growth rate.
Geographically this report covers all the major manufacturers from India, China, USA, UK, and Japan. The present, past and forecast overview of Machine Condition Monitoring market is represented in this report.
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Key Highlights of the Report:
• Historical data of Global Machine Condition Monitoring Market for the Period 2015-2017
• Market Size & Forecast of Global Machine Condition Monitoring Market until 2024
• Historical data of European Machine Condition Monitoring Market for the Period 2015-2017
• Market Size & Forecast of European Machine Condition Monitoring Revenue Market until 2024
• Historical data of North America Machine Condition Monitoring Market for the Period 2015-2017
• Market Size & Forecast of North America Machine Condition Monitoring Revenue Market until 2024
• Historical data of Asia & Pacific Machine Condition Monitoring Market for the Period 2015-2017
• Market Size & Forecast of Asia & Pacific Machine Condition Monitoring Revenue Market until 2024
• Historical data of Middle East & Africa Machine Condition Monitoring Market for the Period 2015-2017
• Market Size & Forecast of Middle East & Africa Machine Condition Monitoring Revenue Market until 2024
• Market Drivers and Restraints
• Players Market Share
• Key Strategic Pointers
The report offers the market growth rate, size, and forecasts at the global level in addition as for the geographic areas: Latin America, Europe, Asia Pacific, North America, and Middle East & Africa. Also it analyses, roadways and provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading market players within the Machine Condition Monitoring market. The industry changing factors for the market segments are explored in this report. This analysis report covers the growth factors of the worldwide market based on end-users.
In this study, the years considered to estimate the market size of Machine Condition Monitoring Market are as follows:-
- History Year: 2013-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Year 2019 to 2024
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