Global Machine Health Management Market Growth (Status and Outlook) 2026-2032

The global Machine Health Management market size is predicted to grow from US$ 2507 million in 2025 to US$ 4047 million in 2032; it is expected to grow at a CAGR of 7.3% from 2026 to 2032.

Machine Health Management (MHM) refers to the systematic process of monitoring, analyzing, and managing the health and performance of machines or industrial equipment. The primary objective of Machine Health Management is to ensure the reliability, efficiency, and optimal functioning of machinery within an industrial setting. MHM involves the use of various technologies, data analytics, and maintenance strategies to proactively assess the condition of machines, predict potential failures, and facilitate timely and cost-effective maintenance actions.

The machine health management market is developing rapidly, driven by multiple factors, including the increasing complexity of industrial equipment, high costs of unplanned downtime, the promotion of smart manufacturing and Industry 4.0 policies, the decline in the cost of sensor and IoT technologies, the maturity of artificial intelligence and big data analytics capabilities, and the increasing demand from enterprises to shift from reactive maintenance to predictive maintenance. At the same time, equipment manufacturers provide value-added services by integrating health management functions, thereby enhancing customer loyalty and product competitiveness, while end users leverage this technology to optimize operational efficiency, extend asset lifespan, and ensure production continuity, jointly accelerating the large-scale implementation of machine health management in key sectors such as manufacturing, energy, and transportation.

LPI (LP Information)' newest research report, the “Machine Health Management Industry Forecast” looks at past sales and reviews total world Machine Health Management sales in 2025, providing a comprehensive analysis by region and market sector of projected Machine Health Management sales for 2026 through 2032. With Machine Health Management sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Machine Health Management industry.

This Insight Report provides a comprehensive analysis of the global Machine Health Management landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Machine Health Management portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Machine Health Management market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Machine Health Management and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Machine Health Management.

This report presents a comprehensive overview, market shares, and growth opportunities of Machine Health Management market by product type, application, key players and key regions and countries.

Segmentation by Type:
Wired Type
Wireless Type
Offline Type

Segmentation by Function:
Condition Monitoring
Predictive Maintenance
Others

Segmentation by Deployment Mode:
Cloud-based
On-premises

Segmentation by Application:
Large Rotary Power Equipment
Reciprocating Power Equipment
Pump Group Power Equipment
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Bently Nevada
Emerson
GE Vernova
Meggitt
Siemens
Uptake
Railinc
Tech Mahindra
ComplianceQuest
Rolls-Royce
SmartEAM
DHMS
Beijing Bohua Xinzhi Technology
Anhui RONDS
Jiangsu Donghua Testing Technology
Zhejiang Supcon Technology
Hexastate

Please note: The report will take approximately 2 business days to prepare and deliver. Show more