Global Machine Condition Monitoring Market 2018-2022
About Machine Condition Monitoring
Machine condition monitoring is the process of monitoring the condition of a machine to predict mechanical wear and failure for the machine. The report considers machine condition monitoring systems used in or for plant equipment and machinery in a plant, plant facility, or field. The key vendors in the report are considered based on product offerings, latest development, new contracts, revenue, brand value, and industry offering. The end-user market segment includes power, cement and metal, oil and gas, chemical and petrochemical, pulp and paper, automotive, and other industries.
Technavio’s analysts forecast the global machine condition monitoring market to grow at a CAGR of 4.20% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global machine condition monitoring market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Machine Condition Monitoring Market 2018-2022
Technavio recognizes the following companies as the key players in the global machine condition monitoring market: Emerson Electric, General Electric, Honeywell International, National Instruments, Rockwell Automation, and SKF.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is improvement in sensor technology.
According to the report, one driver in the market is wireless communication gaining momentum in industries.
Further, the report states that one challenge in the market is limited battery life for wireless devices.
Emerson Electric, General Electric, Honeywell International, National Instruments, Rockwell Automation, and SKF.
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