Machine Condition Monitoring Market

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

Report Code: SE 2739 Feb, 2018, by marketsandmarkets.com

[204 Pages Report] The machine condition monitoring market was valued at USD 2.21 Billion in 2017 and is expected to reach USD 3.50 Billion by 2024, at a CAGR of 6.7% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2024.

The main objectives of this study are as follows:

  • To define, describe, and forecast the global machine condition monitoring market, in terms of value, segmented on the basis of monitoring technique, offering, deployment type, monitoring process, industry, and geography
  • To forecast the global machine condition monitoring market in terms of volume
  • To forecast the market size, in terms of value, for various segments with regards to 4 main regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the micromarkets1 with regard to individual growth trends, prospects, and contribution to the total market
  • To study the complete value chain and perform analysis of the machine condition monitoring value chain
  • To strategically profile the key players in the market and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders
  • To analyze competitive developments such as product launches/developments, acquisitions, contracts, agreements, and partnerships in the machine condition monitoring market

The research methodology used to estimate and forecast the machine condition monitoring market includes the use of extensive primary research and secondary research. The secondary sources referred to for this study include directories; databases such as D&B Hoovers, Bloomberg BusinessWeek, and Factiva; and associations. Vendor offerings have been taken into consideration to determine the market segmentation. The top-down procedure has been employed to arrive at the overall size of the global machine condition monitoring market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key people, such as chief executive officers (CEOs), vice presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.

Machine Condition Monitoring Market

To know about the assumptions considered for the study, download the pdf brochure

This report provides valuable insights on the machine condition monitoring market, such as various monitoring techniques, hardware and software offerings, monitoring processes, and deployment types of machine condition monitoring. The machine condition monitoring market comprises machine condition monitoring solution providers such as 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).

Target Audience:

  • Asset management consultants that specialize in physical asset management
  • Associations and regulatory authorities related to plant maintenance
  • Government bodies, venture capitalists, and private equity firms
  • Manufacturers of components such as accelerometers, eddy current sensors, IR detectors, ultrasonic detectors, and other instruments used for machine condition monitoring
  • Maintenance personnel, manufacturers, and suppliers of machine condition monitoring solutions
  • Research institutes and organizations

Scope of the Report:

The global machine condition monitoring market, in this research report, has been segmented into monitoring techniques, offerings, deployment types, monitoring processes, industries, and geographic regions.

Machine Condition Monitoring Market, by Monitoring Technique

  • Vibration Monitoring          
  • Thermography     
  • Oil Analysis          
  • Corrosion Monitoring        
  • Ultrasound Emission Monitoring
  • Motor Current Analysis

Machine Condition Monitoring Market, by Offering

  • Hardware
    • Vibration Sensors and Analyzers   
      • Accelerometers  
      • Proximity Probes
      • Tachometers
    • Infrared Sensors
      • Thermal Infrared Sensors
      • Quantum Infrared Sensors
    • Spectrometers    
      • Infrared Spectrometers    
      • Ultraviolet Spectrometers
      • Atomic Spectrometers
      • Mass Spectrometers
    • Ultrasound Detectors
      • Sound Pressure Meters
      • Stethoscopes
      • Ultrasonic Leak Detectors
    • Spectrum Analyzers          
      • Swept Spectrum Analyzers              
      • Real-Time Spectrum Analyzers
    • Corrosion Probes
    • Others    (Velocity Sensors and Transmitters, Thermal Cameras and IR Thermometers, Viscometers and Particle Counters, Wireless Transmitters and Corrosion Data Collectors, Ultrasonic Probes, Current Transformers and Resistive Shuts, and Networking Devices)
  • Software
    • Data Integration 
    • Diagnostic Reporting         
    • Order Tracking Analysis    
    • Parameter Calculation

Machine Condition Monitoring Market, by Deployment Type  

  • On Premise
  • Cloud

Machine Condition Monitoring Market, by Monitoring Process

  • Online Condition Monitoring
  • Portable Condition Monitoring

Machine Condition Monitoring Market, by Industry

  • Oil & Gas
  • Power Generation
  • Metals & Mining
  • Chemicals
  • Automotive
  • Aerospace & Defense
  • Food & Beverages
  • Marine
  • Others (Healthcare, Cement, Paper & Pulp, and Semiconductor & Electronics)

Machine Condition Monitoring Market, by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Rest of Europe
  • APAC
    • China
    • Japan
    • India
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East
    • South America
    • Africa

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

  • Comprehensive coverage of regulations followed in each region (The Americas, APAC, and Europe)

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)

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 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 2018–2024 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.

The machine condition monitoring market has been segmented on the basis of offerings into hardware and software. Further, the market for hardware has been segmented into vibration sensors and analyzers, infrared sensors, spectrometers, corrosion probes, ultrasound detectors, spectrum analyzer, and others (which include velocity sensors and transmitters, thermal cameras and IR thermometers, viscometers and particle counters, wireless transmitters and corrosion data collectors, ultrasonic probes, current transformers and resistive shuts, and networking devices). The market for spectrum analyzers is expected to grow at the highest CAGR during the forecast period. The hazardous nature of the plant environment requires essentially safe technology to meet route-based monitoring needs. Spectrum analyzers are used to control such hazardous plant environmental conditions. Spectrum analyzers have the ability to quickly and accurately detect intensifying faults in equipment.

The machine condition monitoring market has been segmented on the basis of deployment types into on premise and cloud. The market for cloud-based machine condition monitoring solutions is expected to grow at a higher CAGR during the forecast period. The on premise deployment gives organizations complete control over all their systems and data, but it incurs the cost of hardware, software, and resources utilized for maintenance. On the other hand, cloud-based machine condition monitoring reduces the initial investment and the maintenance cost as nothing has to be stored on premises.

The machine condition monitoring market has been segmented on the basis of monitoring processes into online and portable condition monitoring. The market for online condition monitoring is expected to grow at a higher CAGR during the forecast period. Online machine condition monitoring provides real-time data to operators at the plant and is the most preferred monitoring process in critical facilities that work continuously and are highly prone to defects.

The machine condition monitoring market has been segmented on the basis of industries into oil & gas, power generation, metals & mining, chemicals, automotive, aerospace & defense, food & beverages,  marine and others (which include healthcare, cement, paper & pulp, and semiconductor & electronics) . The market for the automotive industry is expected to grow at the highest CAGR during the forecast period. Improper lubrication, misalignment of components, and extreme mechanical loads on manufacturing equipment in the automotive industry lead to machine failures, necessitating the use of machine condition monitoring systems.

Machine Condition Monitoring Market

APAC is expected to be the fastest-growing region for the machine condition monitoring market, followed by North America during the forecast period. The market in APAC is expected to grow at the highest CAGR during the forecast period. The APAC region comprises emerging economies such as China, India, Japan, Singapore, Malaysia, and Australia. The APAC region is witnessing a surge in the deployment of machine condition monitoring solutions. The market for condition monitoring solutions is on the rise in the utilities sector for better critical asset management. Similarly, the demand for machine condition monitoring solutions and services is anticipated to increase in the APAC region due to the expected increase in the demand for conditioning-based maintenance.

Factors such as lack of trained technical resources for data analysis and lack of trust in prediction capabilities of machine condition monitoring technology are expected to hinder market growth in the coming years.

Key players in this market such as 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) focus on product launches and developments, strategic partnerships, acquisitions, and agreements to increase their revenues. For instance, in 2017, Emerson had significantly enhanced its Plantweb digital ecosystem, the comprehensive Industrial IoT automation platform that includes pervasive sensing, Plantweb Insight, Plantwed Advisor, and services such as connected services, Software-as-a-Service (SaaS), operational certainty consulting. Similarly, in 2016, General Electric launched Druck DPI620 Genii IS, an advanced modular calibrator and HART Fieldbus communicator capable in testing, calibrating, commissioning, and maintaining a broad range of measurement and control devices situated in hazardous areas in process industries.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Sources
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
                    2.1.3.2 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumption

3 Executive Summary (Page No. - 31)

4 Premium Insights (Page No. - 38)
    4.1 Machine Condition Monitoring Market Opportunities
    4.2 Machine Condition Monitoring Market, By Industry
    4.3 Machine Condition Monitoring Market, By Offering
    4.4 Machine Condition Monitoring Market, By Hardware Type
    4.5 Machine Condition Monitoring Market, By Monitoring Technique
    4.6 Machine Condition Monitoring Market, By Deployment Type
    4.7 Machine Condition Monitoring Market in North America, By Industry and Country
    4.8 Machine Condition Monitoring Market, By Geography

5 Market Overview (Page No. - 44)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Development of A Secure Cloud Computing Platform
                    5.2.1.2 Increased Use of Wireless Communication Technology for Condition Monitoring of Equipment
                    5.2.1.3 Inclination of End Users Toward Predictive Maintenance
                    5.2.1.4 Adoption of Automated Condition Monitoring Technologies
           5.2.2 Restraints
                    5.2.2.1 Lack of Trained Technical Resources for Data Analysis
                    5.2.2.2 Lack of Trust in Prediction Capabilities of Machine Condition Monitoring Technology
           5.2.3 Opportunities
                    5.2.3.1 Advent of Big Data Analytics
                    5.2.3.2 Strategic Partnership and Collaboration
           5.2.4 Challenges
                    5.2.4.1 Incurrence of Additional Expenses and Complexities in Retrofitting Existing Systems
                    5.2.4.2 Availability of Expertise at Remote Locations

6 Industry Trends (Page No. - 49)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Regulatory Standards
           6.3.1 API
           6.3.2 ASTM
           6.3.3 ISO
           6.3.4 Mimosa

7 IoT in Machine Condition Monitoring Market (Page No. - 54)
    7.1 Introduction
           7.1.1 Machine Condition Monitoring Techniques
    7.2 Machine Condition Monitoring: IoT Platform
           7.2.1 Advancements in Cloud Computing Technology
           7.2.2 Digitization and Industrial Internet of Things (IIoT) to Open New Growth Avenues
    7.3 Benefits of Cloud-Based Condition Monitoring
    7.4 Future Trends
           7.4.1 Multi-Parameter Condition Monitoring
           7.4.2 Cloud-Based Predictive Maintenance (Maintenance–As–A–Service)
           7.4.3 Smart Maintenance for Smart Factories
    7.5 Major Companies Offering Cloud-Based Condition Monitoring Services
    7.6 Development of IoT Platform
    7.7 List of Recent Developments in Machine Condition Monitoring Market Related to IoT

8 Machine Condition Monitoring Market, By Monitoring Technique (Page No. - 63)
    8.1 Introduction
    8.2 Vibration Monitoring
           8.2.1 Defects Detected By Vibration Monitoring
    8.3 Thermography
           8.3.1 Defects Detected By Thermography
    8.4 Oil Analysis
           8.4.1 Defects Detected By Oil Analysis
    8.5 Corrosion Monitoring
           8.5.1 Defects Detected By Corrosion Monitoring
    8.6 Ultrasound Emission Monitoring
           8.6.1 Defects Detected By Ultrasound Emission Monitoring
    8.7 Motor Current Analysis
           8.7.1 Defects Detected By Motor Current Analysis

9 Machine Condition Monitoring Market, By Offering (Page No. - 81)
    9.1 Introduction
    9.2 Hardware
           9.2.1 Vibration Sensors and Analyzers
                    9.2.1.1 Accelerometers
                    9.2.1.2 Proximity Probes
                    9.2.1.3 Tachometers
           9.2.2 Infrared Sensors
                    9.2.2.1 Thermal Infrared Sensors
                    9.2.2.2 Quantum Infrared Sensors
           9.2.3 Spectrometers
                    9.2.3.1 Infrared Spectrometers
                    9.2.3.2 Ultraviolet Spectrometers
                    9.2.3.3 Atomic Spectrometers
                    9.2.3.4 Mass Spectrometers
           9.2.4 Ultrasound Detectors
                    9.2.4.1 Sound Pressure Meters
                    9.2.4.2 Stethoscopes
                    9.2.4.3 Ultrasound Leak Detectors
           9.2.5 Spectrum Analyzers
                    9.2.5.1 Swept Spectrum Analyzers
                    9.2.5.2 Real-Time Spectrum Analyzers
           9.2.6 Corrosion Probes
           9.2.7 Others
    9.3 Software
           9.3.1 Data Integration
           9.3.2 Diagnostic Reporting
           9.3.3 Order Tracking
           9.3.4 Parameter Calculation

10 Machine Condition Monitoring Market, By Deployment Type (Page No. - 89)
     10.1 Introduction
     10.2 On Premise
             10.2.1 on Premise Deployment Held Larger Market Size
     10.3 Cloud
             10.3.1 Market for Cloud-Based Condition Monitoring Solutions Expected to Grow at Higher Rate in Coming Years

11 Machine Condition Monitoring Market, By Monitoring Process (Page No. - 92)
     11.1 Introduction
     11.2 Online Condition Monitoring
             11.2.1 Real-Time Machinery Health Information for Operators and Maintenance
     11.3 Portable Condition Monitoring
             11.3.1 A Cost-Effective Condition Monitoring Process

12 Machine Condition Monitoring Market, By Industry (Page No. - 99)
     12.1 Introduction
     12.2 Oil & Gas
     12.3 Power Generation
     12.4 Metals & Mining
     12.5 Chemicals
     12.6 Automotive
     12.7 Aerospace & Defense
     12.8 Food & Beverages
     12.9 Marine
     12.10 Others

13 Regional Analysis (Page No. - 121)
     13.1 Introduction
     13.2 North America
             13.2.1 North America: A Lucrative Market for Machine Condition Monitoring Solutions
             13.2.2 US
                        13.2.2.1 Leading Country in the North American Machine Condition Monitoring Market
             13.2.3 Canada
                        13.2.3.1 Lower Demand for Machine Condition Monitoring Solutions Than That of in Us
             13.2.4 Mexico
                        13.2.4.1 Likely to Grow at the Highest CAGR in the North American Machine Condition Monitoring Market
     13.3 Europe
             13.3.1 Europe—One of the Early Adopter of Industry 4.0
             13.3.2 Germany
                        13.3.2.1 Dominating Country in European Machine Condition Monitoring Market
             13.3.3 UK
                        13.3.3.1 Energy and Power Industry in UK Driving Demand for Machine Condition Monitoring Solutions
             13.3.4 France
                        13.3.4.1 Strong Economy Expected to Drive Future Growth
             13.3.5 Rest of Europe
                        13.3.5.1 Metals & Mining Industry Driving Machine Condition Monitoring Market Growth
     13.4 APAC
             13.4.1 APAC: Rising Demand for Machine Condition Monitoring Solutions for Lowering Operational Costs in Industries
             13.4.2 China
                        13.4.2.1 Financial and Strategic Involvement of Government Driving Market Growth
             13.4.3 Japan
                        13.4.3.1 Significant Growth in Automotive Industry Driving Demand for Condition-Based Monitoring in Japan
             13.4.4 India
                        13.4.4.1 Proactive Initiatives of Indian Government Accelerating Market Growth
             13.4.5 Rest of APAC
                        13.4.5.1 Australia—An Emerging Market for Machine Condition Monitoring
     13.5 Rest of the World (RoW)
             13.5.1 RoW: Developing Machine Condition Monitoring Market
             13.5.2 Middle East
                        13.5.2.1 Huge Oil Reserves Driving Machine Condition Monitoring Market Growth
             13.5.3 South America
                        13.5.3.1 Investment in Manufacturing Industry By Emerging Asian Economies
             13.5.4 Africa
                        13.5.4.1 Availability of Natural Resources Providing Opportunity for Rapid Growth of Mining and Oil & Gas Industries

14 Competitive Landscape (Page No. - 143)
     14.1 Overview
     14.2 Market Ranking Analysis
     14.3 Competitive Situations and Trends
             14.3.1 Product Launches and Developments (2015–2017)
             14.3.2 Contracts, Partnerships, and Agreements (2015–2017)
             14.3.3 Mergers, Acquisitions, and Collaborations (2015–2017)
             14.3.4 Expansions (2017)

15 Company Profiles (Page No. - 150)
     15.1 Key Players
             15.1.1 Emerson Electric
             15.1.2 General Electric
             15.1.3 Honeywell
             15.1.4 National Instruments
             15.1.5 SKF
             15.1.6 ALS Ltd.
             15.1.7 Meggitt
             15.1.8 Parker Hannifin
             15.1.9 Rockwell Automation
             15.1.10 Schaeffler
             15.1.11 Azima Dli
             15.1.12 Bruel & Kjaer
             15.1.13 Fluke Corporation
             15.1.14 Pruftechnik Dieter Busch
             15.1.15 Pcb Piezotronics
     15.2 Other Prominent Players
             15.2.1 Flir Systems
             15.2.2 SPM Instrument
             15.2.3 Analog Devices
     15.3 Potential Startups
             15.3.1 Machine Saver
             15.3.2 3D Signals
             15.3.3 Logilube
             15.3.4 Petasense
             15.3.5 Senseye
             15.3.6 Uptake Canada
             15.3.7 Spacetime Insight

16 Appendix (Page No. - 194)
     16.1 Insights of Industry Experts
     16.2 Discussion Guide
     16.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.4 Introducing RT: Real-Time Market Intelligence
     16.5 Available Customizations
     16.6 Related Reports
     16.7 Author Details


List of Tables (69 Tables)

Table 1 Machine Condition Monitoring Market, By Offering, 2015–2024
Table 2 Machine Condition Monitoring Market, By Monitoring Technique, 2015–2024 (USD Million)
Table 3 Machine Condition Monitoring Market for Vibration Monitoring Technique, By Monitoring Process, 2015–2024 (USD Million)
Table 4 Machine Condition Monitoring Market for Vibration Monitoring Technique, By Industry, 2015–2024 (USD Million)
Table 5 Machine Condition Monitoring Market for Vibration Monitoring Technique, By Region, 2015–2024 (USD Million)
Table 6 Machine Condition Monitoring Market for Thermography Technique, By Monitoring Process, 2015–2024 (USD Million)
Table 7 Machine Condition Monitoring Market for Thermography Technique, By Industry, 2015–2024 (USD Million)
Table 8 Machine Condition Monitoring Market for Thermography Technique, By Region, 2015–2024 (USD Million)
Table 9 Machine Condition Monitoring Market for Oil Analysis Technique, By Monitoring Process, 2015–2024 (USD Million)
Table 10 Machine Condition Monitoring Market for Oil Analysis Technique, By Industry, 2015–2024 (USD Million)
Table 11 Machine Condition Monitoring Market for Oil Analysis Technique, By Region, 2015–2024 (USD Million)
Table 12 Machine Condition Monitoring Market for Corrosion Monitoring Technique, By Monitoring Process, 2015–2024 (USD Million)
Table 13 Machine Condition Monitoring Market for Corrosion Monitoring Technique, By Industry, 2015–2024 (USD Million)
Table 14 Machine Condition Monitoring Market for Corrosion Monitoring Technique, By Region, 2015–2024 (USD Million)
Table 15 Machine Condition Monitoring Market for Ultrasound Emission Monitoring Technique, By Monitoring Process, 2015–2024 (USD Million)
Table 16 Machine Condition Monitoring Market for Ultrasound Emission Monitoring Technique, By Industry, 2015–2024 (USD Million)
Table 17 Machine Condition Monitoring Market for Ultrasound Emission Monitoring Technique, By Region, 2015–2024 (USD Million)
Table 18 Machine Condition Monitoring Market for Motor Current Analysis Technique, By Monitoring Process, 2015–2024 (USD Million)
Table 19 Machine Condition Monitoring Market for Motor Current Analysis Technique, By Industry, 2015–2024 (USD Million)
Table 20 Machine Condition Monitoring Market for Motor Current Analysis Technique, By Region, 2015–2024 (USD Million)
Table 21 Machine Condition Monitoring Market, By Hardware, 2015–2024 (USD Million)
Table 22 Machine Condition Monitoring Market, By Deployment Type, 2015–2024 (USD Million)
Table 23 Machine Condition Monitoring Market, By Monitoring Process, 2015–2024 (USD Million)
Table 24 Online Machine Condition Monitoring Market , By Monitoring Technique, 2015–2024 (USD Million)
Table 25 Online Machine Condition Monitoring Market , By Industry, 2015–2024 (USD Million)
Table 26 Portable Machine Condition Monitoring Market , By Monitoring Technique, 2015–2024 (USD Million)
Table 27 Portable Machine Condition Monitoring Market , By Industry, 2015–2024 (USD Million)
Table 28 Machine Condition Monitoring Market, By Industry, 2015–2024 (USD Million)
Table 29 Machine Condition Monitoring Market for Oil & Gas Industry, By Monitoring Technique, 2015–2024 (USD Million)
Table 30 Machine Condition Monitoring Market for Oil & Gas Industry, By Monitoring Process, 2015–2024 (USD Million)
Table 31 Machine Condition Monitoring Market for Oil & Gas Industry, By Region, 2015–2024 (USD Million)
Table 32 Machine Condition Monitoring Market for Power Generation Industry, By Monitoring Technique, 2015–2024 (USD Million)
Table 33 Machine Condition Monitoring Market for Power Generation Industry, By Monitoring Process, 2015–2024 (USD Million)
Table 34 Machine Condition Monitoring Market for Power Generation Industry, By Region, 2015–2024 (USD Million)
Table 35 Machine Condition Monitoring Market for Metals & Mining Industry, By Monitoring Technique, 2015–2024 (USD Million)
Table 36 Machine Condition Monitoring Market for Metals & Mining Industry, By Monitoring Process, 2015–2024 (USD Million)
Table 37 Machine Condition Monitoring Market for Metals & Mining Industry, By Region, 2015–2024 (USD Million)
Table 38 Machine Condition Monitoring Market for Chemicals Industry, By Monitoring Technique, 2015–2024 (USD Million)
Table 39 Machine Condition Monitoring Market for Chemicals Industry, By Monitoring Process, 2015–2024 (USD Million)
Table 40 Machine Condition Monitoring Market for Chemicals Industry, By Region, 2015–2024 (USD Million)
Table 41 Machine Condition Monitoring Market for Automotive Industry, By Monitoring Technique, 2015–2024 (USD Million)
Table 42 Machine Condition Monitoring Market for Automotive Industry, By Monitoring Process, 2015–2024 (USD Million)
Table 43 Machine Condition Monitoring Market for Automotive Industry, By Region, 2015–2024 (USD Million)
Table 44 Machine Condition Monitoring Market for Aerospace & Defense Industry, By Monitoring Technique, 2015–2024 (USD Million)
Table 45 Machine Condition Monitoring Market for Aerospace & Defense Industry, By Monitoring Process, 2015–2024 (USD Million)
Table 46 Machine Condition Monitoring Market for Aerospace & Defense Industry, By Region, 2015–2024 (USD Million)
Table 47 Machine Condition Monitoring Market for Food & Beverages Industry, By Monitoring Technique, 2015–2024 (USD Million)
Table 48 Machine Condition Monitoring Market for Food & Beverages Industry, By Monitoring Process, 2015–2024 (USD Million)
Table 49 Machine Condition Monitoring Market for Food & Beverages Industry, By Region, 2015–2024 (USD Million)
Table 50 Machine Condition Monitoring Market for Marine Industry, By Monitoring Technique, 2015–2024 (USD Million)
Table 51 Machine Condition Monitoring Market for Marine Industry, By Monitoring Process, 2015–2024 (USD Million)
Table 52 Machine Condition Monitoring Market for Marine Industry, By Region, 2015–2024 (USD Million)
Table 53 Machine Condition Monitoring Market for Other Industries, By Monitoring Technique, 2015–2024 (USD Million)
Table 54 Machine Condition Monitoring Market for Other Industries, By Monitoring Process, 2015–2024 (USD Million)
Table 55 Machine Condition Monitoring Market for Other Industries, By Region, 2015–2024 (USD Million)
Table 56 Machine Condition Monitoring Market, By Region, 2015–2024 (USD Million)
Table 57 Machine Condition Monitoring Market in North America, By Monitoring Technique, 2015–2024 (USD Million)
Table 58 Machine Condition Monitoring Market in North America, By Industry, 2015–2024 (USD Million)
Table 59 Machine Condition Monitoring Market in North America, By Country, 2015–2024 (USD Million)
Table 60 Machine Condition Monitoring Market in Europe, By Monitoring Technique, 2015–2024 (USD Million)
Table 61 Machine Condition Monitoring Market in Europe, By Industry, 2015–2024 (USD Million)
Table 62 Machine Condition Monitoring Market in Europe, By Country, 2015–2024 (USD Million)
Table 63 Machine Condition Monitoring Market in APAC, By Monitoring Technique, 2015–2024 (USD Million)
Table 64 Machine Condition Monitoring Market in APAC, By Industry, 2015–2024 (USD Million)
Table 65 Machine Condition Monitoring Market in APAC, By Country, 2015–2024 (USD Million)
Table 66 Machine Condition Monitoring Market in RoW, By Monitoring Technique, 2015–2024 (USD Million)
Table 67 Machine Condition Monitoring Market in RoW, By Industry, 2015–2024 (USD Million)
Table 68 Machine Condition Monitoring Market in RoW, By Region, 2015–2024 (USD Million)
Table 69 Ranking of Top 5 Market Players, 2017


List of Figures (62 Figures)

Figure 1 Machine Condition Monitoring Market Segmentation
Figure 2 Machine Condition Monitoring Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Hardware Segment to Account for Larger Market Size During 2018–2023
Figure 7 Vibration Monitoring Technique to Hold Largest Size of Machine Condition Monitoring Market Between 2018 and 2024
Figure 8 Machine Condition Monitoring Market for Automotive Industry Expected to Grow at Highest CAGR Between 2018 and 2024
Figure 9 on Premise Deployment Held Larger Size of Machine Condition Monitoring Market Between 2018 and 2024
Figure 10 Market for Online Condition Monitoring Solutions to Grow at Higher Rate Between 2018 and 2024
Figure 11 North America Accounted for Largest Share of Machine Condition Monitoring Market in 2017
Figure 12 Attractive Opportunities in Machine Condition Monitoring Market Between 2018 and 2024
Figure 13 Oil & Gas Industry to Hold the Largest Market Size in Machine Condition Monitoring Market During Forecast Period
Figure 14 Hardware Segment to Hold Larger Share of Machine Condition Monitoring Market in 2018
Figure 15 Vibration Sensors & Analyzers to Dominate Machine Condition Monitoring Market in Terms of Size Between 2018 and 2024
Figure 16 Market for Motor Current Analysis to Grow at Highest CAGR Between 2018 and 2024
Figure 17 Market for Cloud-Based Machine Monitoring Solutions Expected to Grow at Higher Rate Between 2018 and 2024
Figure 18 US to Hold Largest Size of North American Machine Condition Monitoring Market in 2018
Figure 19 North America to Hold the Largest Share of the Machine Condition Monitoring Market Between 2018 and 2024
Figure 20 Machine Condition Monitoring Market: Drivers, Restraints, Opportunities, and Challenges
Figure 21 Value Chain Analysis: Major Value is Added During Manufacturing and System Integration Stages
Figure 22 Decreasing Cost of IoT Sensors to Accelerate IoT Adoption in Coming Years
Figure 23 Vibration Monitoring—Fast-Growing Technique
Figure 24 Application of IoT Platform for Condition Monitoring
Figure 25 Industrial Development Model
Figure 26 IoT Service Architecture
Figure 27 Data Exchange in Cloud-Based Maintenance Framework
Figure 28 Architecture of IBM Watson for Machine Condition Monitoring
Figure 29 Machine Condition Monitoring Market, By Monitoring Technique
Figure 30 Vibration Monitoring Technique Expected to Account for Largest Size of Machine Condition Monitoring Market During Forecast Period
Figure 31 Oil & Gas Industry Expected to Account for Largest Size of Vibration Monitoring Market Between 2018 and 2024
Figure 32 APAC to Exhibit Highest CAGR in Machine Condition Monitoring Market for Oil Analysis Technique During 2018–2024
Figure 33 Online Condition Monitoring Expected to Dominate Market for Motor Current Analysis Equipment Between 2018 and 2024
Figure 34 Machine Condition Monitoring Market, By Offering
Figure 35 Machine Condition Monitoring Market, By Monitoring Process
Figure 36 Vibration Monitoring to Account for Larger Market Size Between 2018 and 2024
Figure 37 Machine Condition Monitoring Market, By Industry
Figure 38 Vibration Monitoring Technique Expected to Account for Largest Size of Machine Condition Monitoring Market for Oil & Gas Industry During Forecast Period
Figure 39 Motor Current Analysis Technique to Exhibit Highest CAGR in Machine Condition Monitoring Market for Chemicals Industry During Forecast Period
Figure 40 North America to Dominate Machine Condition Monitoring Market in Terms of Size for Aerospace and Defense Industry During Forecast Period
Figure 41 APAC Likely to Command Machine Condition Monitoring Market for Marine Industry During 2018–2024
Figure 42 Machine Condition Monitoring Market in India to Grow at Highest CAGR During Forecast Period
Figure 43 North America Held Largest Share of Machine Condition Monitoring Market in 2017
Figure 44 North America: Machine Condition Monitoring Market Snapshot
Figure 45 North American Machine Condition Monitoring Market for Motor Current Analysis Technique to Grow at Highest CAGR Between 2018 and 2024
Figure 46 Europe: Machine Condition Monitoring Market Snapshot
Figure 47 Vibration Monitoring Technique to Account for Largest Size of Machine Condition Monitoring Market in Europe During Forecast Period
Figure 48 APAC: Machine Condition Monitoring Market Snapshot
Figure 49 Machine Condition Monitoring Market in India Expected to Grow at Highest CAGR Between 2018 and 2024
Figure 50 Middle East Expected to Account for Largest Size of Machine Condition Monitoring Market in RoW Between 2018 and 2024
Figure 51 Organic and Inorganic Strategies Adopted By Companies in Machine Condition Monitoring Market
Figure 52 Battle for Market Share: Product Launches/Developments— Key Strategies
Figure 53 Emerson Electric: Company Snapshot
Figure 54 General Electric: Company Snapshot
Figure 55 Honeywell: Company Snapshot
Figure 56 National Instruments: Company Snapshot
Figure 57 SKF: Company Snapshot
Figure 58 ALS Ltd.: Company Snapshot
Figure 59 Meggitt: Company Snapshot
Figure 60 Parker Hannifin: Company Snapshot
Figure 61 Rockwell Automation: Company Snapshot
Figure 62 Schaeffler: Company Snapshot


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Report Code
SE 2739
Published ON
Feb, 2018
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