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Machine Condition Monitoring Market by Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, MCA), Deployment (On Premise, Cloud), Monitoring Process (Online, Portable), Offering, Industry, and Region - Global Forecast to 2024

Machine Condition Monitoring Market by Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, MCA), Deployment (On Premise, Cloud), Monitoring Process (Online, Portable), Offering, Industry, and Region - Global Forecast to 2024

The machine condition monitoring market is expected to grow at a CAGR of 6.7% during the forecast period
The machine condition monitoring market is estimated to grow from USD 2.38 billion in 2018 to USD 3.50 billion by 2024, at a CAGR of 6.7% between 2018 and 2024. The growth of the market is driven by factors such as 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. However, the lack of trained technical resources for data analysis hinders market growth.

Cloud deployment is expected to witness a higher CAGR during the forecast period
The market for cloud-based machine condition monitoring solutions is estimated to grow at a higher CAGR during the forecast period because it offers elasticity required for the data and computational resources significantly at a low cost. One of the major advantages of cloud-based solutions is that it helps enterprises to understand the real-time condition of their assets from a remote location. Further, the initial investment and the maintenance costs are reduced as nothing has to be stored on premises.

The market for the automotive industry is expected to witness the highest CAGR during the forecast period
The global automotive industry is emphasizing on automating and upgrading assembly lines, which require motor monitoring. Motor current analysis helps reduce machine failures and extend the life of machines. The automotive industry is witnessing significant growth in the number of units produced per day. The machinery on the production floor is required to be maintained properly to minimize the production cycle and increase the production output, thereby resulting in high adoption of machine condition monitoring solutions in the automotive industry.

North America is expected to dominate the machine condition monitoring market, while APAC is expected to grow at the highest CAGR during the forecast period
North America held the largest share of the machine condition monitoring market in 2017 owing to the presence of major machine condition monitoring vendors and high focus on optimum asset utilization; increase in stringent government regulations at workplaces with regard to personal safety; and rise in requirements to control and assure quality in oil & gas, chemicals, and food & beverages industries are driving the demand for machine condition monitoring systems in North America. Factors such as rapid industrialization, high adoption of predictive maintenance tools, and competitive pressure to achieve operational efficiency are fueling the growth of the machine condition monitoring market in APAC.

Given below is the breakdown of the profile of the primary participants in terms of different parameters considered while studying the report:
• By Company Type: Tier 1 = 31%, Tier 2 = 37%, and Tier 3 = 32%
• By Designation: C-Level Executives = 45%, Directors = 36%, and Others = 19%
• By Region: North America = 32%, Europe = 30%, APAC = 24%, and RoW = 14%

The key players operating in the machine condition monitoring market include ALS Limited (Australia), Emerson Electric (US), General Electric (US), Honeywell (US), Meggitt (UK), National Instruments (US), Parker-Hannifin (US), Rockwell Automation (US), Schaeffler (Germany), SKF (Sweden), Azima DLI (US), Bruel & Kjaer (Denmark), and Fluke (US).

Research Coverage
In this report, various segments such as monitoring techniques, offerings, deployment types, monitoring processes, industries, and geographic region have been covered. It also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across 4 main regions: North America, Europe, APAC, RoW.

Reasons to Buy the Report:
• This report includes the machine condition monitoring market sizing in terms of value based on monitoring techniques, hardware and software offerings, deployment types, monitoring processes, industries, and geographic regions, along with respective countries.
• The major drivers, restraints, opportunities, and challenges related to the machine condition monitoring market growth have been provided in detail in this report.
• The report includes illustrative segmentation, analysis, and forecast for the machine condition monitoring market.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • DEFINITION
    • SCOPE OF THE STUDY
      • MARKETS COVERED
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • PACKAGE SIZE
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
      • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTION
  • EXECUTIVE SUMMARY
    • Table MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2015-2024
  • PREMIUM INSIGHTS
    • MACHINE CONDITION MONITORING MARKET OPPORTUNITIES
    • MACHINE CONDITION MONITORING MARKET, BY INDUSTRY
    • MACHINE CONDITION MONITORING MARKET, BY OFFERING
    • MACHINE CONDITION MONITORING MARKET, BY HARDWARE TYPE
    • MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE
    • MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT TYPE
    • MACHINE CONDITION MONITORING MARKET IN NORTH AMERICA, BY INDUSTRY AND COUNTRY
    • MACHINE CONDITION MONITORING MARKET, BY GEOGRAPHY
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • INDUSTRY TRENDS
    • INTRODUCTION
    • VALUE CHAIN ANALYSIS
    • REGULATORY STANDARDS
      • API
      • ASTM
      • ISO
      • MIMOSA
  • IOT IN MACHINE CONDITION MONITORING MARKET
    • INTRODUCTION
      • MACHINE CONDITION MONITORING TECHNIQUES
    • MACHINE CONDITION MONITORING: IOT PLATFORM
      • ADVANCEMENTS IN CLOUD COMPUTING TECHNOLOGY
      • DIGITIZATION AND INDUSTRIAL INTERNET OF THINGS (IIOT) TO OPEN NEW GROWTH AVENUES
    • BENEFITS OF CLOUD-BASED CONDITION MONITORING
    • FUTURE TRENDS
      • MULTI-PARAMETER CONDITION MONITORING
      • CLOUD-BASED PREDICTIVE MAINTENANCE (MAINTENANCE-AS-A-SERVICE)
      • SMART MAINTENANCE FOR SMART FACTORIES
    • MAJOR COMPANIES OFFERING CLOUD-BASED CONDITION MONITORING SERVICES
    • DEVELOPMENT OF IOT PLATFORM
    • LIST OF RECENT DEVELOPMENTS IN MACHINE CONDITION MONITORING MARKET RELATED TO IOT
  • MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE
    • INTRODUCTION
      • Table MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
    • VIBRATION MONITORING
      • DEFECTS DETECTED BY VIBRATION MONITORING
        • Table MACHINE CONDITION MONITORING MARKET FOR VIBRATION MONITORING TECHNIQUE, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR VIBRATION MONITORING TECHNIQUE, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR VIBRATION MONITORING TECHNIQUE, BY REGION, 2015-2024 (USD MILLION)
    • THERMOGRAPHY
      • DEFECTS DETECTED BY THERMOGRAPHY
        • Table MACHINE CONDITION MONITORING MARKET FOR THERMOGRAPHY TECHNIQUE, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR THERMOGRAPHY TECHNIQUE, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR THERMOGRAPHY TECHNIQUE, BY REGION, 2015-2024 (USD MILLION)
    • OIL ANALYSIS
      • DEFECTS DETECTED BY OIL ANALYSIS
        • Table MACHINE CONDITION MONITORING MARKET FOR OIL ANALYSIS TECHNIQUE, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR OIL ANALYSIS TECHNIQUE, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR OIL ANALYSIS TECHNIQUE, BY REGION, 2015-2024 (USD MILLION)
    • CORROSION MONITORING
      • DEFECTS DETECTED BY CORROSION MONITORING
        • Table MACHINE CONDITION MONITORING MARKET FOR CORROSION MONITORING TECHNIQUE, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR CORROSION MONITORING TECHNIQUE, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR CORROSION MONITORING TECHNIQUE, BY REGION, 2015-2024 (USD MILLION)
    • ULTRASOUND EMISSION MONITORING
      • DEFECTS DETECTED BY ULTRASOUND EMISSION MONITORING
        • Table MACHINE CONDITION MONITORING MARKET FOR ULTRASOUND EMISSION MONITORING TECHNIQUE, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR ULTRASOUND EMISSION MONITORING TECHNIQUE, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR ULTRASOUND EMISSION MONITORING TECHNIQUE, BY REGION, 2015-2024 (USD MILLION)
    • MOTOR CURRENT ANALYSIS
      • DEFECTS DETECTED BY MOTOR CURRENT ANALYSIS
        • Table MACHINE CONDITION MONITORING MARKET FOR MOTOR CURRENT ANALYSIS TECHNIQUE, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR MOTOR CURRENT ANALYSIS TECHNIQUE, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET FOR MOTOR CURRENT ANALYSIS TECHNIQUE, BY REGION, 2015-2024 (USD MILLION)
  • MACHINE CONDITION MONITORING MARKET, BY OFFERING
    • INTRODUCTION
    • HARDWARE
      • Table MACHINE CONDITION MONITORING MARKET, BY HARDWARE, 2015-2024 (USD MILLION)
      • VIBRATION SENSORS AND ANALYZERS
      • INFRARED SENSORS
      • SPECTROMETERS
      • ULTRASOUND DETECTORS
      • SPECTRUM ANALYZERS
      • CORROSION PROBES
      • OTHERS
    • SOFTWARE
      • DATA INTEGRATION
      • DIAGNOSTIC REPORTING
      • ORDER TRACKING
      • PARAMETER CALCULATION
  • MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT TYPE
    • INTRODUCTION
      • Table MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT TYPE, 2015-2024 (USD MILLION)
    • ON PREMISE
      • ON PREMISE DEPLOYMENT HELD LARGER MARKET SIZE
    • CLOUD
      • MARKET FOR CLOUD-BASED CONDITION MONITORING SOLUTIONS EXPECTED TO GROW AT HIGHER RATE IN COMING YEARS
  • MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS
    • INTRODUCTION
      • Table MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
    • ONLINE CONDITION MONITORING
      • REAL-TIME MACHINERY HEALTH INFORMATION FOR OPERATORS AND MAINTENANCE
        • Table ONLINE MACHINE CONDITION MONITORING MARKET , BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
        • Table ONLINE MACHINE CONDITION MONITORING MARKET , BY INDUSTRY, 2015-2024 (USD MILLION)
    • PORTABLE CONDITION MONITORING
      • A COST-EFFECTIVE CONDITION MONITORING PROCESS
        • Table PORTABLE MACHINE CONDITION MONITORING MARKET , BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
        • Table PORTABLE MACHINE CONDITION MONITORING MARKET , BY INDUSTRY, 2015-2024 (USD MILLION)
  • MACHINE CONDITION MONITORING MARKET, BY INDUSTRY
    • INTRODUCTION
      • Table MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2015-2024 (USD MILLION)
    • OIL & GAS
      • Table MACHINE CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY, BY REGION, 2015-2024 (USD MILLION)
    • POWER GENERATION
      • Table MACHINE CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY, BY REGION, 2015-2024 (USD MILLION)
    • METALS & MINING
      • Table MACHINE CONDITION MONITORING MARKET FOR METALS & MINING INDUSTRY, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR METALS & MINING INDUSTRY, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR METALS & MINING INDUSTRY, BY REGION, 2015-2024 (USD MILLION)
    • CHEMICALS
      • Table MACHINE CONDITION MONITORING MARKET FOR CHEMICALS INDUSTRY, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR CHEMICALS INDUSTRY, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR CHEMICALS INDUSTRY, BY REGION, 2015-2024 (USD MILLION)
    • AUTOMOTIVE
      • Table MACHINE CONDITION MONITORING MARKET FOR AUTOMOTIVE INDUSTRY, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR AUTOMOTIVE INDUSTRY, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR AUTOMOTIVE INDUSTRY, BY REGION, 2015-2024 (USD MILLION)
    • AEROSPACE & DEFENSE
      • Table MACHINE CONDITION MONITORING MARKET FOR AEROSPACE & DEFENSE INDUSTRY, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR AEROSPACE & DEFENSE INDUSTRY, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR AEROSPACE & DEFENSE INDUSTRY, BY REGION, 2015-2024 (USD MILLION)
    • FOOD & BEVERAGES
      • Table MACHINE CONDITION MONITORING MARKET FOR FOOD & BEVERAGES INDUSTRY, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR FOOD & BEVERAGES INDUSTRY, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR FOOD & BEVERAGES INDUSTRY, BY REGION, 2015-2024 (USD MILLION)
    • MARINE
      • Table MACHINE CONDITION MONITORING MARKET FOR MARINE INDUSTRY, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR MARINE INDUSTRY, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR MARINE INDUSTRY, BY REGION, 2015-2024 (USD MILLION)
    • OTHERS
      • Table MACHINE CONDITION MONITORING MARKET FOR OTHER INDUSTRIES, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR OTHER INDUSTRIES, BY MONITORING PROCESS, 2015-2024 (USD MILLION)
      • Table MACHINE CONDITION MONITORING MARKET FOR OTHER INDUSTRIES, BY REGION, 2015-2024 (USD MILLION)
  • REGIONAL ANALYSIS
    • INTRODUCTION
      • Table MACHINE CONDITION MONITORING MARKET, BY REGION, 2015-2024 (USD MILLION)
    • NORTH AMERICA
      • NORTH AMERICA: A LUCRATIVE MARKET FOR MACHINE CONDITION MONITORING SOLUTIONS
        • Table MACHINE CONDITION MONITORING MARKET IN NORTH AMERICA, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET IN NORTH AMERICA, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET IN NORTH AMERICA, BY COUNTRY, 2015-2024 (USD MILLION)
      • US
      • CANADA
      • MEXICO
    • EUROPE
      • EUROPE-ONE OF THE EARLY ADOPTER OF INDUSTRY 4.0
        • Table MACHINE CONDITION MONITORING MARKET IN EUROPE, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET IN EUROPE, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET IN EUROPE, BY COUNTRY, 2015-2024 (USD MILLION)
      • GERMANY
      • UK
      • FRANCE
      • REST OF EUROPE
    • APAC
      • APAC: RISING DEMAND FOR MACHINE CONDITION MONITORING SOLUTIONS FOR LOWERING OPERATIONAL COSTS IN INDUSTRIES
        • Table MACHINE CONDITION MONITORING MARKET IN APAC, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET IN APAC, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET IN APAC, BY COUNTRY, 2015-2024 (USD MILLION)
      • CHINA
      • JAPAN
      • INDIA
      • REST OF APAC
    • REST OF THE WORLD (ROW)
      • ROW: DEVELOPING MACHINE CONDITION MONITORING MARKET
        • Table MACHINE CONDITION MONITORING MARKET IN ROW, BY MONITORING TECHNIQUE, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET IN ROW, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table MACHINE CONDITION MONITORING MARKET IN ROW, BY REGION, 2015-2024 (USD MILLION)
      • MIDDLE EAST
      • SOUTH AMERICA
      • AFRICA
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • MARKET RANKING ANALYSIS
      • Table RANKING OF TOP 5 MARKET PLAYERS, 2017
    • COMPETITIVE SITUATIONS AND TRENDS
      • PRODUCT LAUNCHES AND DEVELOPMENTS (2015-2017)
      • CONTRACTS, PARTNERSHIPS, AND AGREEMENTS (2015-2017)
      • MERGERS, ACQUISITIONS, AND COLLABORATIONS (2015-2017)
      • EXPANSIONS (2017)
  • COMPANY PROFILES
    • KEY PLAYERS
      • 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
    • OTHER PROMINENT PLAYERS
      • FLIR SYSTEMS
      • SPM INSTRUMENT
      • ANALOG DEVICES
    • POTENTIAL STARTUPS
      • MACHINE SAVER
      • 3DSIGNALS
      • LOGILUBE
      • PETASENSE
      • SENSEYE
      • UPTAKE CANADA
      • SPACETIME INSIGHT
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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