The global machine condition monitoring market is expected to reach USD 4.2 billion by 2025, from USD 2.4 billion in 2017, growing at a CAGR of 5.9% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2018 to 2025.
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Global Machine Condition Monitoring Market, By Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission Monitoring), By Offering (Hardware, Software), By Deployment, By Type (Vibration Analysis, Diagnostics), By Industry, By Monitoring Process, By End-User, By Component (Spectrometer, Ultrasound Detector), By Application, By Geography– Industry Trends and Forecast to 2025
Complete report on Global Machine Condition Monitoring Market Research Report 2017-2024 spread across 350 Pages, profiling Top companies and supports with tables and figures
Market Definition: Global Machine Condition Monitoring Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the machine condition monitoring market in the next 8 years. Machine condition monitoring is the process, which involves measuring certain condition of a machine, such as temperature, humidity, pressure and many more. Machine conditioning is used in the detection of any mechanical fault and failure of machine. Vibration, noise, and temperature measurements are the major indicators to determine the status of machine. Machine condition monitoring involves noise, temperature, and vibration measurements as the key indicators for any equipment. Failure in equipment leads to huge losses in terms of productivity, quality of goods, and capital spent on the purchasing of new equipment. Therefore, machine condition monitoring acts as a predictive maintenance measure for such equipment. Machine condition monitoring is used in various sectors such as automotive, aerospace and defence, marine, chemicals, oil and gas, metal and mining, energy and power, and others. Successful machine monitoring includes knowledge of what to listen for, and how to interpret that knowledge to use. Many advances have taken place in this field, for instance, in 2014 SKF launched new condition monitoring sensor suitable for hazardous environments. In 2017 SKF has launched software centre for condition monitoring in Sweden.
Key Questions Answered in Global Machine Condition Monitoring Market Report:-
Our Report offers:-
- What will the market growth rate, Overview and Analysis by Type of Global Machine Condition Monitoring Market in 2025?
- What are the key factors driving, Analysis by Applications and Countries Global Machine Condition Monitoring Market?
- What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Global Machine Condition Monitoring Market?
- Who are Opportunities, Risk and Driving Force of Global Machine Condition Monitoring Market?
- Who are the opportunities and threats faced by the vendors in Global Machine Condition Monitoring Market? Business Overview by Type, Applications, Gross Margin and Market Share
- What are the Global Machine Condition Monitoring Market opportunities, market risk and market overview of the Market?
- To perceive the most influencing pivoting and hindering forces in the Machine Condition Monitoring Market and its footprint in the international market.
- Learn about the market policies that are being endorsed by ruling respective organizations.
- To gain a perceptive survey of the market and have an extensive interpretation of the Machine Condition Monitoring Market and its materialistic landscape.
- To understand the structure of Machine Condition Monitoring market by identifying its various sub segments.
- Focuses on the key global Machine Condition Monitoring players, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Machine Condition Monitoring submarkets, with respect to key regions (along with their respective key countries).
- To strategically profile the key players and comprehensively analyze their growth strategies
- To analyze the Machine Condition Monitoring with respect to individual growth trends, future prospects, and their contribution to the total market.
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Top Key Players:
- National Instruments
- SKF Group
- Rockwell Automation
- Parker Hannifin
- Bruel & Kjaer Sound & Vibration Measurement A/S
- Fluke Corporation
- Analog Devices
- PRUFTECHNIK Group
- Systems Limited
- SPM Instrument
- Machine Saver, INC.
- LogiLube, LLC
- SpaceTime Insight
- among others.
Major Market Drivers:
- Cloud computing platform are more secured.
- Leaning towards predictive maintenance
- Automated condition monitoring technologies are promoted.
- Shortage of technical resources for data analysis
- Uncertainty in forecasting capabilities.
Key Reasons to Purchase:
- To gain insightful analyses of the market and have comprehensive understanding of the Global Machine Condition Monitoring Market and its commercial landscape.
- Assess the Machine Condition Monitoring production processes, major issues, and solutions to mitigate the development risk.
- To understand the most affecting driving and restraining forces in the Machine Condition Monitoring Market and its impact in the Global market.
- Learn about the market strategies that are being adopted by leading respective organizations.
- To understand the future outlook and prospects for Global Machine Condition Monitoring
Customize report of “Global Machine Condition Monitoring Market” as per customers requirement also available.
Company Share Analysis: Global Machine Condition Monitoring Market
The global machine condition monitoring market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of machine condition monitoring market for global, Europe, North America, Asia Pacific and South America.
Global Machine Condition Monitoring Market is segmented on the basis of
- Monitoring Technique
- Deployment Type
- End-Use Industry
- Monitoring Process
- End User
Market Segmentations in Details:
On the basis of Monitoring Technique, the global machine condition monitoring market is segmented into vibration monitoring, thermography, oil analysis, corrosion monitoring, and ultrasound emission monitoring, motor current analysis.
On the basis of Offering, the global machine condition monitoring market is classified into hardware and software.
On the basis of Deployment Type, the global machine condition market is segmented into on premise and cloud.
On the basis of End-Use industry, the global machine condition monitoring market is classified into food & beverages, commercial, energy & power, and others.
On the basis of Monitoring Process, the global machine condition monitoring market is segmented into online condition monitoring and portable condition monitoring.
On the basis of by Industry, the global machine condition monitoring market is segmented into oil & gas , power generation , metals & mining , chemicals, automotive, aerospace & defence , food & beverages, marine, and others.
On the basis of End User, the global machine condition monitoring market is segmented into power industry, oil and gas industry, pulp and paper industry, cement and metal industry, chemical and petrochemical industry, and automotive industry.
On the basis of Component, the global machine condition monitoring market is segmented into spectrometer, ultrasound detector, and others.
On the basis of Application, the global machine condition monitoring market is segmented into aerospace, defence, and others.
On the basis of Geography,
- North America
- South America
- Middle East & Africa
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