Motor Monitoring Market

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Motor Monitoring Market by Offering, Deployment, Monitoring Process, End-use (Metals and Minings, Oil and Gas, Power Generation, Water and Wastewater, Food and Beverages, Chemicals, Automotive, Aerospace and Defense) and Region - Global Forecast to 2028

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Report Code: EP 7815 Nov, 2023, by marketsandmarkets.com

[340 Pages Report] The motor monitoring market is expected to grow from an estimated USD 2.3 billion in 2023 to USD 3.5 billion by 2028, at a CAGR of 8.7% during the forecast period. The motor monitoring market is growing due to the increasing adoption of predictive maintenance strategies driven by advancements in IoT and data analytics. The integration of advanced sensor technologies, the implementation of Industry 4.0 principles, and the focus on regulatory compliance further contribute to the market's expansion.

Motor Monitoring Market

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Motor Monitoring Market Opportunities

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Motor Monitoring Market Dynamics

Driver: Increasing adoption of industry 4.0 principles in the manufacturing sector

The adoption of industry 4.0 principles refers to the integration of manufacturing processes with IT, thus making processes smart. The proliferation of industrial automation and Industry 4.0 has propelled the utilization of several pieces of equipment that do not need human interference. However, there are several mechanical and electrical errors that can impact the productivity of machines at factories. Most of these defects originate from the motors installed in machinery. This makes the monitoring of motors critical for successfully running an industrial plant.

One of the aspects of Industry 4.0 is wireless technologies; small and easy-to-install sensors are deployed in areas where cabling is not feasible for acquiring high-frequency motor condition monitoring data. Wireless connectivity helps overcome barriers posed by factors such as the location of machinery, limited length of cabling and availability of space to install cables, thereby facilitating remote monitoring of the motor and eventually machinery installed in a plant.

With technological improvements in the semiconductors industry, the cost of sensors used for remote monitoring of motors has come down drastically during the past years. This is making remote monitoring affordable even for small- and medium-scale industries. Sensors in industrial facilities are used to monitor temperature, vibration, corrosion, torque, alignment, and oil and wear debris, among others. Advancements in wireless sensor network technologies are enabling the rapid implementation of these technologies in condition monitoring. These factors are likely to fuel the demand for remote monitoring technologies.

Restraints: Limited technical know-how to manage monitoring solutions

The increasing adoption of predictive maintenance and monitoring solutions compels enterprises to establish a dedicated data analysis team. This team must possess in-depth knowledge of motors and their operation within specific machines to accurately assess motor health, thereby potentially increasing indirect costs for companies. Additionally, since motor manufacturing companies may not readily offer monitoring solutions, industries often need to seek expertise from external providers, potentially adding to overall costs alongside initial motor installation investments. Monitoring motor data requires distinct skill sets, necessitating staff training and the establishment of standardized procedures, with the scarcity of affordable skilled professionals anticipated as a major constraint to market growth in the forecast period.

Opportunity: Growing focus on energy audits and regulations worldwide

A government-mandated standard, an energy audit is a regulatory requirement for assessing the energy efficiency of diverse electrical equipment. It offers a systematic approach to optimize energy costs, enhance safety, and improve operating and maintenance practices in industrial systems. Energy audits play a vital role in decision-making related to energy mix, power conservation, and ensuring a reliable energy supply. Mandatory in regions like North America, Europe, and Asia, countries such as China, India, Tunisia, and Algeria enforce energy audits due to high electricity consumption. In Europe, industrial sectors, including manufacturing plants, must undergo compulsory energy audits. Sectors like automotive, aerospace, defense, consumer electronics, and medical equipment utilize power analyzers to comply with energy audit requirements. In Europe, the Energy Efficiency Directive necessitates large companies to conduct energy audits every four years, with non-compliance resulting in penalties. Given that motors contribute significantly to industrial energy consumption, proper motor monitoring becomes crucial for substantial energy savings and compliance with energy audit mandates.

Challenges: Long payback period on investment

Continuous monitoring entails a higher upfront investment in data gathering and analysis technology, along with installation costs. Major considerations for calculating the total cost of ownership encompass system engineering and installation, field instrumentation (such as sensors and cabling), monitoring and diagnostic systems (comprising hardware, software, installation, and licenses), user training, and customer support if needed, as well as system maintenance, external expertise, and support. These software, services, and equipment come with substantial costs and require specific skill sets for operation. Consequently, operators must invest in additional training and maintenance for the motor control process. The incurred costs are contingent on the industry's scale and the extent of control service deployment. While larger industries typically see a relatively short payback period, many small and medium-scale industries encounter challenges in achieving prompt payback for control processes. Additionally, the payback time and return on investment (ROI) are influenced by the likelihood of motor failures, factors that, when considered, extend the payback period duration.

Motor Monitoring Market Ecosystem

Notable players in this industry comprise long-standing, financially robust manufacturers of the Motor Monitoring Market and related components. These companies have a significant track record in the market, offering a wide range of products, employing cutting-edge technologies, and maintaining robust global sales and marketing networks. Prominent companies in this market include ABB (Switzerland), General Electric (US), Siemens (Germany), Honeywell (US), and Schneider Electric (France).

Motor Monitoring Market

Hardware is expected to be the largest market based on offering.

The motor monitoring market offering has been segmented into hardware, software, and services. Hardware is expected to be the largest segment by offering, as hardware is the most important component of a machine condition monitoring system. The hardware segment mainly includes vibration sensors, infrared sensors, ultrasound detectors, spectrum analyzers, and corrosion probes.

Power Generation, by end user industry, to hold the second largest market share during the forecast period.

The market has been segmented by end user industry into metals and mining, oil and gas, power generation, water and wastewater, food and beverages, chemicals, automotive, aerospace and defense, and others. The power Generation segment is expected to be the second largest segment in the market by end user industry. The power generation industry is one of the biggest end users of large motors. These motors are mission critical for continuous power generation. Power demand is rising across the world, which calls for power generators to act more efficiently and increase productivity. Power generation is one of the emerging segments in the motor monitoring market.

North America is expected to account for the second fastest market during the forecast period.

North America is the second fastest market because of its strong emphasis on industrial automation, a shift towards predictive maintenance practices, continuous technological advancements, adherence to stringent regulations, and a growing awareness among industries about the benefits of motor monitoring. These factors collectively contribute to the region's position as one of the second fastest-growing markets in the motor monitoring industry.

North American Motor Monitoring Market Size, and Share

Key Market Players

The motor monitoring market is dominated by a few major players that have a wide regional presence. The major players in the motor monitoring market are ABB (Switzerland), General Electric (US), Siemens (Germany), Honeywell (US), and Schneider Electric (France). Between 2019 and 2023, Strategies such as product launches, contracts, agreements, partnerships, collaborations, alliances, acquisitions, and expansions are followed by these companies to capture a larger share of the motor monitoring market.

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Scope of the Report

Report Metric

Details

Market size available for years

2019–2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD)

Segments Covered

Offering, Deployment, End User, Monitoring Process, and Region

Geographies covered

Asia Pacific, North America, Europe, Middle East & Africa, and South America

Companies covered

ABB (Switzerland), General Electric (US), Siemens (Germany), Honeywell (US), Schneider Electric (France), Banner Engineering (US), Wilson Transformers (US), SKF (Sweden), Emerson (US), Rockwell Automation (US), Qualitrol (US), WEG (Brazil), Mitsubishi Electrical Corporation (Japan), Eaton (Ireland), and Advantech (Taiwan).

This research report categorizes the Motor monitoring market by offering, deployment, end user, monitoring process, and region.

On the basis of offering, the Motor monitoring market has been segmented as follows:
  • Hardware
  • Software
  • Services
On the basis of deployment, the Motor monitoring market has been segmented as follows:
  • On-Premise
  • Cloud
On the basis of end users, the Motor monitoring market has been segmented as follows:
  • Metals and Minings
  • Oil and Gas
  • Power Generation
  • Water and Wastewater
  • Food and Beverages
  • Chemicals
  • Automotive
  • Aerospace and Defense
  • Others
On the basis of my monitoring process, the Motor monitoring market has been segmented as follows:
  • Online
  • Offline/Portable
On the basis of region, the Motor monitoring market has been segmented as follows:
  • Asia Pacific
  • Europe
  • North America
  • Middle East & Africa
  • South America

Recent Developments

  • In October 2023, Emerson acquired National Instruments in October 2023. The acquisition of NI advances Emerson’s position as a global automation leader and expands its opportunity to capitalize on key secular trends like nearshoring, digital transformation, and sustainability and decarbonization.
  • In September 2021, the WEG Subsidiary in Russia (WRU) opened a new sales office in Novosibirsk, Siberia. The new office is intended to provide improved support to local customers. The office structure also provides additional space for training, customer meetings, and commercial operations.
  • In October 2021, WEG entered into a partnership with Delta Delfini to provide a complete solution for a shrimp farm in Saudi Arabia. WEG provided 13 x W50, 480kW, six poles, frame size 400 electric motors; 13 electric panels with SSW06 soft-starters; a package for replacement; as well as a stand-by replacement motor and services. WEG also provided two main and 11 secondary panels wherein each panel included a soft-starter, touch screen, PLC, Ethernet serial converter, safety and light buttons, and others.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 32)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 INCLUSIONS AND EXCLUSIONS 
           1.3.1 MARKET, BY OFFERING
                    TABLE 1 MARKET, BY OFFERING: INCLUSIONS & EXCLUSIONS
           1.3.2 MARKET, BY MONITORING PROCESS
                    TABLE 2 MARKET, BY MONITORING PROCESS: INCLUSIONS & EXCLUSIONS
           1.3.3 MARKET, BY END-USER INDUSTRY
                    TABLE 3 MARKET, BY END-USER INDUSTRIES: INCLUSIONS & EXCLUSIONS
           1.3.4 MARKET, BY DEPLOYMENT
                    TABLE 4 MARKET, BY DEPLOYMENT: INCLUSIONS & EXCLUSIONS
    1.4 STUDY SCOPE 
           1.4.1 MARKETS COVERED
                    FIGURE 1 MARKET SEGMENTATION
           1.4.2 REGIONAL SCOPE
    1.5 YEARS CONSIDERED 
           1.5.1 CURRENCY CONSIDERED
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
    1.9 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 38)
    2.1 RESEARCH DATA 
           FIGURE 2 MARKET: RESEARCH DESIGN
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 3 DATA TRIANGULATION METHODOLOGY
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    2.2.2.1 Key data from primary sources
                    2.2.2.2 Breakdown of primaries
                               FIGURE 4 BREAKDOWN OF PRIMARIES: BY COMPANY TYPE, DESIGNATION, AND REGION
    2.3 SCOPE 
           FIGURE 5 MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR MARKET
    2.4 MARKET SIZE ESTIMATION 
           2.4.1 BOTTOM-UP APPROACH
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.4.2 TOP-DOWN APPROACH
                    FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.4.3 DEMAND-SIDE ANALYSIS
                    2.4.3.1 Regional analysis
                    2.4.3.2 Country-level analysis
                    2.4.3.3 Assumptions for demand side
                    2.4.3.4 Calculation for demand side
           2.4.4 SUPPLY-SIDE ANALYSIS
                    FIGURE 8 KEY STEPS CONSIDERED TO ASSESS SUPPLY OF MOTOR MONITORING
                    FIGURE 9 MARKET: SUPPLY-SIDE ANALYSIS
                    2.4.4.1 Supply-side calculation
                    2.4.4.2 Assumptions for supply side
           2.4.5 FORECAST
    2.5 RISK ASSESSMENT 
    2.6 IMPACT OF RECESSION 
 
3 EXECUTIVE SUMMARY (Page No. - 52)
    TABLE 5 MARKET SNAPSHOT 
    FIGURE 10 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN MARKET DURING FORECAST PERIOD 
    FIGURE 11 HARDWARE SEGMENT TO CAPTURE LARGEST SIZE OF MARKET DURING FORECAST PERIOD 
    FIGURE 12 ONLINE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 
    FIGURE 13 OIL & GAS SEGMENT TO ACQUIRE LARGEST SHARE OF MARKET DURING FORECAST PERIOD 
    FIGURE 14 ON-PREMISE SEGMENT TO COMMAND LARGER SHARE OF MARKET DURING FORECAST PERIOD 
 
4 PREMIUM INSIGHTS (Page No. - 56)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MARKET 
           FIGURE 15 RISING NEED FOR ENERGY EFFICIENCY TO DRIVE MARKET
    4.2 MARKET, BY REGION 
           FIGURE 16 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN MARKET DURING FORECAST PERIOD
    4.3 NORTH AMERICA: MARKET, BY END-USER INDUSTRY AND COUNTRY 
           FIGURE 17 OIL & GAS SEGMENT AND US DOMINATED MARKET IN NORTH AMERICA IN 2022
    4.4 MARKET, BY OFFERING 
           FIGURE 18 HARDWARE SEGMENT TO COMMAND LARGEST SHARE OF MARKET IN 2028
    4.5 MARKET, BY MONITORING PROCESS 
           FIGURE 19 ONLINE SEGMENT TO ACCOUNT FOR LARGER SHARE OF MARKET IN 2028
    4.6 MARKET, BY END-USER INDUSTRY 
           FIGURE 20 OIL & GAS SEGMENT TO HOLD LARGEST MARKET SHARE IN 2028
    4.7 MARKET, BY DEPLOYMENT 
           FIGURE 21 ON-PREMISE SEGMENT TO HOLD LARGER MARKET SHARE IN 2028
 
5 MARKET OVERVIEW (Page No. - 60)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 22 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing adoption of industry 4.0 principles in manufacturing sector
                               FIGURE 23 INDUSTRIAL SENSORS MARKET, 2017–2020
                    5.2.1.2 Growing demand for predictive maintenance and analytics
                    5.2.1.3 Surging adoption of motor monitoring in transportation sector, especially in electric vehicles
                               FIGURE 24 GLOBAL EV (CARS) SALES, 2016–2020 (UNITS)
                    5.2.1.4 Increasing adoption of wireless technology in motor monitoring
           5.2.2 RESTRAINTS
                    5.2.2.1 Limited technical know-how to manage monitoring solutions
                    5.2.2.2 Hesitation to adopt monitoring solutions due to high initial investment, especially in developing countries
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growing focus on energy audits and regulations worldwide
                    5.2.3.2 Growing demand from aerospace and automotive industries
                    5.2.3.3 Advent of intelligent transportation systems (ITS)
           5.2.4 CHALLENGES
                    5.2.4.1 Long payback period on investment
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           FIGURE 25 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
    5.4 ECOSYSTEM/MARKET MAP 
           TABLE 6 MARKET: ROLE OF PLAYERS IN ECOSYSTEM
           FIGURE 26 MARKET MAP/ECOSYSTEM
    5.5 VALUE CHAIN ANALYSIS 
           FIGURE 27 MARKET: VALUE CHAIN ANALYSIS
    5.6 RAW MATERIAL PROVIDERS/SUPPLIERS/COMPONENT MANUFACTURERS 
           5.6.1 MONITORING SOLUTION MANUFACTURERS/ASSEMBLERS
           5.6.2 DISTRIBUTORS/RESELLERS
           5.6.3 END USERS
           5.6.4 MAINTENANCE AND SERVICE PROVIDERS
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 CONDITION MONITORING
           5.7.2 REMOTE VIBRATION MONITORING AND FAULT DIAGNOSIS SYSTEMS
    5.8 PRICING ANALYSIS 
           FIGURE 28 AVERAGE SELLING PRICE (ASP) OF MOTOR MONITORING SYSTEMS, BY MONITORING PROCESS, 2021–2023, (USD/UNIT)
           TABLE 7 ASP OF MOTOR MONITORING SYSTEMS, BY MONITORING PROCESS, 2021–2023 (USD/UNIT)
           TABLE 8 ASP TREND FOR MOTOR MONITORING SYSTEMS, BY REGION, 2021–2023 (USD/UNIT)
           FIGURE 29 ASP TREND FOR MOTOR MONITORING SYSTEMS, BY REGION, 2021–2023
    5.9 TARIFFS, CODES, AND REGULATIONS 
           5.9.1 TARIFF ANALYSIS
                    TABLE 9 TARIFF FOR HS CODE 9031
           5.9.2 CODES AND REGULATIONS RELATED TO MOTOR MONITORING
                    TABLE 10 MOTOR MONITORING: CODES AND REGULATIONS
                    TABLE 11 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.10 PATENT ANALYSIS 
           TABLE 12 MARKET: INNOVATIONS AND PATENT REGISTRATIONS
    5.11 TRADE ANALYSIS 
           5.11.1 EXPORT SCENARIO FOR HS CODE 9031
                    TABLE 13 EXPORT DATA FOR HS CODE 9031-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND)
           5.11.2 IMPORT SCENARIO FOR HS CODE 9031
                    TABLE 14 IMPORT DATA FOR HS CODE 9031-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND)
    5.12 KEY CONFERENCES AND EVENTS, 2023–2024 
                    TABLE 15 MARKET: LIST OF CONFERENCES AND EVENTS
    5.13 CASE STUDY ANALYSIS 
           5.13.1 EMERSON’S ONLINE MACHINERY HEALTH MONITORING HELPS PHOSPHATE MINE PROTECT CRITICAL ASSETS AND AVOID DOWNTIME
           5.13.2 FAULT DETECTION IN COMPONENTS OF SYNCHRONOUS MOTORS WITH PARTIAL DISCHARGE MONITORING
           5.13.3 SIEMENS PROVIDED HIGH-PRECISION MOTOR MONITORING FOR ENGINE TEST BENCHES
    5.14 PORTER’S FIVE FORCES ANALYSIS 
                    TABLE 16 MARKET: IMPACT OF PORTER’S FIVE FORCES
                    FIGURE 30 MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.14.1 THREAT OF SUBSTITUTES
           5.14.2 BARGAINING POWER OF SUPPLIERS
           5.14.3 BARGAINING POWER OF BUYERS
           5.14.4 THREAT OF NEW ENTRANTS
           5.14.5 INTENSITY OF COMPETITIVE RIVALRY
 
6 MARKET, BY END-USER INDUSTRY (Page No. - 82)
    6.1 INTRODUCTION 
           FIGURE 31 MARKET SHARE, IN TERMS OF VALUE, BY END-USER INDUSTRY, 2022
           TABLE 17 MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
           TABLE 18 MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
    6.2 OIL & GAS 
           6.2.1 REMOTE PLANT LOCATIONS AND HIGH SAFETY STANDARDS TO NECESSITATE DEPLOYMENT OF MOTOR MONITORING SOLUTIONS
                    TABLE 19 OIL & GAS: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 20 OIL & GAS: MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.3 METALS & MINING 
           6.3.1 CONCERNS OVER RELIABILITY AND SAFETY IN MINING OPERATIONS TO DRIVE DEMAND FOR MOTOR MONITORING
                    TABLE 21 METALS & MINING: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 22 METALS & MINING: MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.4 POWER GENERATION 
           6.4.1 INCREASING PENETRATION OF INFORMATION TECHNOLOGY IN POWER GENERATION TO DRIVE MARKET
                    TABLE 23 POWER GENERATION: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 24 POWER GENERATION: MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.5 AUTOMOTIVE 
           6.5.1 INCREASING DEMAND FOR EVS AND EFFICIENT MANUFACTURING PROCESS TO DRIVE MARKET FOR MOTOR MONITORING
                    TABLE 25 AUTOMOTIVE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 26 AUTOMOTIVE: MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.6 CHEMICALS 
           6.6.1 NEED TO REDUCE EXPENSIVE DOWNTIME IN CHEMICAL PRODUCTION TO AUGMENT DEMAND FOR MOTOR MONITORING SYSTEMS
                    TABLE 27 CHEMICALS: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 28 CHEMICALS: MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.7 WATER & WASTEWATER TREATMENT 
           6.7.1 INTENSIFYING NEED TO OPTIMIZE WATER SUPPLY AND WASTEWATER TREATMENT PROCESSES TO FUEL DEMAND FOR MOTOR MONITORING
                    TABLE 29 WATER & WASTEWATER TREATMENT: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 30 WATER & WASTEWATER TREATMENT: MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.8 FOOD & BEVERAGES 
           6.8.1 NEED TO IMPROVE PERFORMANCE OF CRITICAL ASSETS TO DRIVE DEMAND FOR MOTOR MONITORING SOLUTIONS
                    TABLE 31 FOOD & BEVERAGES: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 32 FOOD & BEVERAGES: MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.9 AEROSPACE & DEFENSE 
           6.9.1 NEED TO PREVENT FAILURE OF CRITICAL ASSETS DUE TO MOTOR FAILURE TO FUEL DEMAND FOR MOTOR MONITORING SOLUTIONS
                    TABLE 33 AEROSPACE & DEFENSE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 34 AEROSPACE & DEFENSE: MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.10 OTHER END-USER INDUSTRIES 
           TABLE 35 OTHER END-USER INDUSTRIES: MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 36 OTHER END-USER INDUSTRIES: MARKET, BY REGION, 2023–2028 (USD MILLION)
 
7 MARKET, BY OFFERING (Page No. - 96)
    7.1 INTRODUCTION 
           FIGURE 32 MARKET SHARE, IN TERMS OF VALUE, BY OFFERING, 2022
           TABLE 37 MARKET, BY OFFERING, 2019–2022 (USD MILLION)
           TABLE 38 MARKET, BY OFFERING, 2023–2028 (USD MILLION)
    7.2 HARDWARE 
           TABLE 39 HARDWARE: MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 40 HARDWARE: MARKET, BY REGION, 2023–2028 (USD MILLION)
           TABLE 41 HARDWARE: MARKET, BY TYPE, 2019–2022 (USD MILLION)
           TABLE 42 HARDWARE: MARKET, BY TYPE, 2023–2028 (USD MILLION)
           7.2.1 VIBRATION SENSORS
                    7.2.1.1 Need to detect mechanical issues in motors to prevent downtime to fuel adoption of vibration sensors
           7.2.2 INFRARED SENSORS
                    7.2.2.1 Ability to identify anomalous patterns causing asset failure to induce demand for thermal monitoring of motors
           7.2.3 CORROSION PROBES
                    7.2.3.1 Ever-present risk of corrosion in motors to increase demand for corrosion probes
           7.2.4 ULTRASOUND DETECTORS
                    7.2.4.1 Rising need for non-invasive ways to detect problems in machinery to fuel demand for ultrasound detectors
           7.2.5 SPECTRUM ANALYZERS
                    7.2.5.1 Increasing demand for wireless communication to boost need for spectrum analyzers
    7.3 SOFTWARE 
           7.3.1 INCREASING FOCUS ON PREDICTIVE MAINTENANCE TO FUEL DEMAND FOR MOTOR MONITORING SOFTWARE
                    TABLE 43 SOFTWARE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 44 SOFTWARE: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 45 SOFTWARE: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 46 SOFTWARE: MARKET, BY TYPE, 2023–2028 (USD MILLION)
           7.3.2 ANALYTICS SOFTWARE
           7.3.3 DIAGNOSTIC SOFTWARE
    7.4 SERVICES 
           TABLE 47 SERVICES: MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 48 SERVICES: MARKET, BY REGION, 2023–2028 (USD MILLION)
           TABLE 49 SERVICES: MARKET, BY TYPE, 2019–2022 (USD MILLION)
           TABLE 50 SERVICES: MARKET, BY TYPE, 2023–2028 (USD MILLION)
           7.4.1 TRAINING SERVICES
                    7.4.1.1 Growth in MARKET to drive demand for training services
           7.4.2 DATA ANALYSIS SERVICES
                    7.4.2.1 Advent of remote monitoring to boost demand for data analysis services
           7.4.3 TECHNICAL SUPPORT & MAINTENANCE SERVICES
                    7.4.3.1 Increasing focus on extending life of motors to boost need for maintenance services
 
8 MARKET, BY DEPLOYMENT (Page No. - 105)
    8.1 INTRODUCTION 
           FIGURE 33 MARKET SHARE, IN TERMS OF VALUE, BY DEPLOYMENT, 2022
           TABLE 51 MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
           TABLE 52 MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
    8.2 ON-PREMISE 
           8.2.1 NEED FOR FULL CONTROL OVER SENSITIVE DATA TO FUEL DEMAND FOR ON-PREMISE DEPLOYMENT OF MOTOR MONITORING SOLUTIONS
                    TABLE 53 ON-PREMISE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 54 ON-PREMISE: MARKET, BY REGION, 2023–2028 (USD MILLION)
    8.3 CLOUD 
           8.3.1 EASE OF DEPLOYMENT AND SCALABILITY TO DRIVE DEMAND FOR CLOUD-BASED MOTOR MONITORING SOLUTIONS
                    TABLE 55 CLOUD: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 56 CLOUD: MARKET, BY REGION, 2023–2028 (USD MILLION)
 
9 MARKET, BY MONITORING PROCESS (Page No. - 110)
    9.1 INTRODUCTION 
           FIGURE 34 MARKET SHARE, IN TERMS OF VALUE, BY MONITORING PROCESS, 2022
           TABLE 57 MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
           TABLE 58 MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
    9.2 ONLINE 
           9.2.1 RISING EMPHASIS ON ELIMINATING IN-PERSON INSPECTIONS IN REMOTE LOCATIONS TO DRIVE DEMAND FOR ONLINE MONITORING
                    TABLE 59 ONLINE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 60 ONLINE: MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.3 OFFLINE/PORTABLE 
           9.3.1 RISING DEMAND FOR COST-EFFICIENT MONITORING OF AGING MACHINES TO PROPEL SEGMENTAL GROWTH
                    TABLE 61 OFFLINE/PORTABLE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 62 OFFLINE/PORTABLE: MARKET, BY REGION, 2023–2028 (USD MILLION)
 
10 MARKET, BY REGION (Page No. - 115)
     10.1 INTRODUCTION 
               FIGURE 35 MARKET SHARE, IN TERMS OF VALUE, BY REGION, 2022
               FIGURE 36 ASIA PACIFIC MARKET TO REGISTER HIGHEST CAGR FROM 2023 TO 2028
               TABLE 63 MARKET, BY REGION, 2019–2022 (USD MILLION)
               TABLE 64 MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.2 ASIA PACIFIC 
               FIGURE 37 ASIA PACIFIC: MARKET SNAPSHOT
               TABLE 65 ASIA PACIFIC: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
               TABLE 66 ASIA PACIFIC: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
               TABLE 67 ASIA PACIFIC: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 68 ASIA PACIFIC: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 69 ASIA PACIFIC: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 70 ASIA PACIFIC: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 71 ASIA PACIFIC: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 72 ASIA PACIFIC: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 73 ASIA PACIFIC: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
               TABLE 74 ASIA PACIFIC: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
               TABLE 75 ASIA PACIFIC: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
               TABLE 76 ASIA PACIFIC: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
               TABLE 77 ASIA PACIFIC: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
               TABLE 78 ASIA PACIFIC: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
               TABLE 79 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
               TABLE 80 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.2.1 CHINA
                       10.2.1.1 Rapid growth of manufacturing sector to drive market
                                   TABLE 81 CHINA: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 82 CHINA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 83 CHINA: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 84 CHINA: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 85 CHINA: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 86 CHINA: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 87 CHINA: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 88 CHINA: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 89 CHINA: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 90 CHINA: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 91 CHINA: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 92 CHINA: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 93 CHINA: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 94 CHINA: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.2.2 JAPAN
                       10.2.2.1 Demand from automotive sector to boost market growth
                                   TABLE 95 JAPAN: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 96 JAPAN: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 97 JAPAN: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 98 JAPAN: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 99 JAPAN: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 100 JAPAN: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 101 JAPAN: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 102 JAPAN: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 103 JAPAN: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 104 JAPAN: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 105 JAPAN: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 106 JAPAN: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 107 JAPAN: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 108 JAPAN: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.2.3 SOUTH KOREA
                       10.2.3.1 Government policies aimed at boosting advanced manufacturing to support market growth
                                   TABLE 109 SOUTH KOREA: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 110 SOUTH KOREA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 111 SOUTH KOREA: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 112 SOUTH KOREA: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 113 SOUTH KOREA: MARKET FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 114 SOUTH KOREA: MARKET FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 115 SOUTH KOREA: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 116 SOUTH KOREA: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 117 SOUTH KOREA: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 118 SOUTH KOREA: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 119 SOUTH KOREA: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 120 SOUTH KOREA: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 121 SOUTH KOREA: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 122 SOUTH KOREA: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.2.4 INDIA
                       10.2.4.1 Government initiatives to boost manufacturing to increase demand for motor monitoring
                                   TABLE 123 INDIA: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 124 INDIA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 125 INDIA: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 126 INDIA: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 127 INDIA: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 128 INDIA: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 129 INDIA: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 130 INDIA: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 131 INDIA: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 132 INDIA: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 133 INDIA: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 134 INDIA: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 135 INDIA: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 136 INDIA: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.2.5 AUSTRALIA
                       10.2.5.1 Increase in minerals and resource mining to induce demand for motor monitoring solutions
                                   TABLE 137 AUSTRALIA: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 138 AUSTRALIA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 139 AUSTRALIA: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 140 AUSTRALIA: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 141 AUSTRALIA: MARKET FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 142 AUSTRALIA: MARKET FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 143 AUSTRALIA: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 144 AUSTRALIA: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 145 AUSTRALIA: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 146 AUSTRALIA: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 147 AUSTRALIA: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 148 AUSTRALIA: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 149 AUSTRALIA: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 150 AUSTRALIA: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.2.6 REST OF ASIA PACIFIC
                       TABLE 151 REST OF ASIA PACIFIC: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                       TABLE 152 REST OF ASIA PACIFIC: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                       TABLE 153 REST OF ASIA PACIFIC: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                       TABLE 154 REST OF ASIA PACIFIC: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                       TABLE 155 REST OF ASIA PACIFIC: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                       TABLE 156 REST OF ASIA PACIFIC: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                       TABLE 157 REST OF ASIA PACIFIC: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                       TABLE 158 REST OF ASIA PACIFIC: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                       TABLE 159 REST OF ASIA PACIFIC: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                       TABLE 160 REST OF ASIA PACIFIC: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                       TABLE 161 REST OF ASIA PACIFIC: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                       TABLE 162 REST OF ASIA PACIFIC: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                       TABLE 163 REST OF ASIA PACIFIC: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                       TABLE 164 REST OF ASIA PACIFIC: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
     10.3 NORTH AMERICA 
               TABLE 165 NORTH AMERICA: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
               TABLE 166 NORTH AMERICA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
               TABLE 167 NORTH AMERICA: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 168 NORTH AMERICA: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 169 NORTH AMERICA: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 170 NORTH AMERICA: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 171 NORTH AMERICA: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 172 NORTH AMERICA: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 173 NORTH AMERICA: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
               TABLE 174 NORTH AMERICA: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
               TABLE 175 NORTH AMERICA: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
               TABLE 176 NORTH AMERICA: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
               TABLE 177 NORTH AMERICA: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
               TABLE 178 NORTH AMERICA: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
               TABLE 179 NORTH AMERICA: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
               TABLE 180 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.3.1 US
                       10.3.1.1 Initiatives to promote adoption of Industry 4.0 technologies to drive market
                                   TABLE 181 US: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 182 US: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 183 US: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 184 US: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 185 US: MARKET FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 186 US: MARKET FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 187 US: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 188 US: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 189 US: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 190 US: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 191 US: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 192 US: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 193 US: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 194 US: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.3.2 CANADA
                       10.3.2.1 Growing investments in mining and power generation industries to boost demand for motor monitoring solutions
                                   TABLE 195 CANADA: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 196 CANADA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 197 CANADA: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 198 CANADA: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 199 CANADA: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 200 CANADA: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 201 CANADA: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 202 CANADA: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 203 CANADA: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 204 CANADA: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 205 CANADA: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 206 CANADA: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 207 CANADA: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 208 CANADA: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.3.3 MEXICO
                       10.3.3.1 Increasing investments in metals and mining vertical to fuel demand for motor monitoring solutions in Mexico
                                   TABLE 209 MEXICO: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 210 MEXICO: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 211 MEXICO: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 212 MEXICO: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 213 MEXICO: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 214 MEXICO: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 215 MEXICO: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 216 MEXICO: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 217 MEXICO: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 218 MEXICO: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 219 MEXICO: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 220 MEXICO: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 221 MEXICO: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 222 MEXICO: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
     10.4 EUROPE 
               TABLE 223 EUROPE: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
               TABLE 224 EUROPE: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
               TABLE 225 EUROPE: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 226 EUROPE: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 227 EUROPE: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 228 EUROPE: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 229 EUROPE: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 230 EUROPE: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 231 EUROPE: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
               TABLE 232 EUROPE: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
               TABLE 233 EUROPE: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
               TABLE 234 EUROPE: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
               TABLE 235 EUROPE: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
               TABLE 236 EUROPE: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
               TABLE 237 EUROPE: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
               TABLE 238 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.4.1 GERMANY
                       10.4.1.1 Increasing penetration of industrial IoT to fuel demand for motor monitoring
                                   TABLE 239 GERMANY: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 240 GERMANY: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 241 GERMANY: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 242 GERMANY: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 243 GERMANY: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 244 GERMANY: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 245 GERMANY: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 246 GERMANY: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 247 GERMANY: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 248 GERMANY: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 249 GERMANY: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 250 GERMANY: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 251 GERMANY: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 252 GERMANY: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.4.2 UK
                       10.4.2.1 Push toward clean energy and innovations to drive market
                                   TABLE 253 UK: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 254 UK: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 255 UK: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 256 UK: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 257 UK: MARKET FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 258 UK: MARKET FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 259 UK: MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 260 UK: MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 261 UK: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 262 UK: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 263 UK: MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 264 UK: MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 265 UK: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 266 UK: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.4.3 FRANCE
                       10.4.3.1 Increasing investments in power generation industry to drive demand for motor monitoring solutions
                                   TABLE 267 FRANCE: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 268 FRANCE: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 269 FRANCE: MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 270 FRANCE: MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 271 FRANCE: MARKET FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 272 FRANCE: MARKET FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 273 FRANCE: MOTOR MONITORING MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 274 FRANCE: MOTOR MONITORING MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 275 FRANCE: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 276 FRANCE: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 277 FRANCE: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 278 FRANCE: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 279 FRANCE: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 280 FRANCE: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.4.4 RUSSIA
                       10.4.4.1 Government policies to boost EVs industry to support market growth
                                   TABLE 281 RUSSIA: MOTOR MONITORING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 282 RUSSIA: MOTOR MONITORING MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 283 RUSSIA: MOTOR MONITORING MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 284 RUSSIA: MOTOR MONITORING MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 285 RUSSIA: MOTOR MONITORING MARKET FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 286 RUSSIA: MOTOR MONITORING MARKET FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 287 RUSSIA: MOTOR MONITORING MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                                   TABLE 288 RUSSIA: MOTOR MONITORING MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 289 RUSSIA: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 290 RUSSIA: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 291 RUSSIA: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 292 RUSSIA: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 293 RUSSIA: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 294 RUSSIA: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.4.5 REST OF EUROPE
                       TABLE 295 REST OF EUROPE: MOTOR MONITORING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                       TABLE 296 REST OF EUROPE: MOTOR MONITORING MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                       TABLE 297 REST OF EUROPE: MOTOR MONITORING MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                       TABLE 298 REST OF EUROPE: MOTOR MONITORING MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                       TABLE 299 REST OF EUROPE: MOTOR MONITORING MARKET FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
                       TABLE 300 REST OF EUROPE: MOTOR MONITORING MARKET FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
                       TABLE 301 REST OF EUROPE: MOTOR MONITORING MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
                       TABLE 302 REST OF EUROPE: MOTOR MONITORING MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                       TABLE 303 REST OF EUROPE: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                       TABLE 304 REST OF EUROPE: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                       TABLE 305 REST OF EUROPE: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                       TABLE 306 REST OF EUROPE: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                       TABLE 307 REST OF EUROPE: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                       TABLE 308 REST OF EUROPE: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
     10.5 MIDDLE EAST & AFRICA 
               TABLE 309 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
               TABLE 310 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET, BY OFFERING, 2023–2028 (USD MILLION)
               TABLE 311 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET FOR HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 312 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 313 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 314 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKE FOR SOFTWARE, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 315 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET FOR SERVICES, BY TYPE, 2019–2022 (USD MILLION)
               TABLE 316 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
               TABLE 317 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
               TABLE 318 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
               TABLE 319 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
               TABLE 320 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
               TABLE 321 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
               TABLE 322 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
               TABLE 323 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
               TABLE 324 MIDDLE EAST & AFRICA: MOTOR MONITORING MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.5.1 SAUDI ARABIA
                       10.5.1.1 Demand from oil & gas industry to drive market
                                   TABLE 325 SAUDI ARABIA: MOTOR MONITORING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 326 SAUDI ARABIA: MOTOR MONITORING MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 327 SAUDI ARABIA: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2019–2022 (USD MILLION)
                                   TABLE 328 SAUDI ARABIA: MOTOR MONITORING MARKET FOR HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 329 SAUDI ARABIA: MOTOR MONITORING MARKET FOR SOFTWARE, BY SOFTWARE, 2019–2022 (USD MILLION)
                                   TABLE 330 SAUDI ARABIA: MOTOR MONITORING MARKET FOR SOFTWARE, BY SOFTWARE, 2023–2028 (USD MILLION)
                                   TABLE 331 SAUDI ARABIA: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2019–2022 (USD MILLION)
                                   TABLE 332 SAUDI ARABIA: MOTOR MONITORING MARKET FOR SERVICES, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 333 SAUDI ARABIA: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 334 SAUDI ARABIA: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 335 SAUDI ARABIA: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 336 SAUDI ARABIA: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 337 SAUDI ARABIA: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 338 SAUDI ARABIA: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.5.2 UAE
                       10.5.2.1 Government focus on boosting manufacturing sector to contribute to market growth
                                   TABLE 339 UAE: MOTOR MONITORING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 340 UAE: MOTOR MONITORING MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 341 UAE: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2019–2022 (USD MILLION)
                                   TABLE 342 UAE: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2023–2028 (USD MILLION)
                                   TABLE 343 UAE: MOTOR MONITORING MARKET FOR SOFTWARE, BY SOFTWARE, 2019–2022 (USD MILLION)
                                   TABLE 344 UAE: MOTOR MONITORING MARKET FOR SOFTWARE, BY SOFTWARE, 2023–2028 (USD MILLION)
                                   TABLE 345 UAE: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2019–2022 (USD MILLION)
                                   TABLE 346 UAE: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2023–2028 (USD MILLION)
                                   TABLE 347 UAE: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 348 UAE: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 349 UAE: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 350 UAE: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 351 UAE: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 352 UAE: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.5.3 TURKEY
                       10.5.3.1 Demand from agriculture industry to bring revenue opportunities for motor monitoring market players
                                   TABLE 353 TURKEY: MOTOR MONITORING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 354 TURKEY: MOTOR MONITORING MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 355 TURKEY: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2019–2022 (USD MILLION)
                                   TABLE 356 TURKEY: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2023–2028 (USD MILLION)
                                   TABLE 357 TURKEY: MOTOR MONITORING MARKET FOR SOFTWARE, BY SOFTWARE, 2019–2022 (USD MILLION)
                                   TABLE 358 TURKEY: MOTOR MONITORING MARKET FOR SOFTWARE, BY SOFTWARE, 2023–2028 (USD MILLION)
                                   TABLE 359 TURKEY: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2019–2022 (USD MILLION)
                                   TABLE 360 TURKEY: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2023–2028 (USD MILLION)
                                   TABLE 361 TURKEY: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 362 TURKEY: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 363 TURKEY: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 364 TURKEY: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 365 TURKEY: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 366 TURKEY: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.5.4 QATAR
                       10.5.4.1 Rising industrial activities to offer growth opportunities for motor monitoring solution providers
                                   TABLE 367 QATAR: MOTOR MONITORING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 368 QATAR: MOTOR MONITORING MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 369 QATAR: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2019–2022 (USD MILLION)
                                   TABLE 370 QATAR: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2023–2028 (USD MILLION)
                                   TABLE 371 QATAR: MOTOR MONITORING MARKE FOR SOFTWARE, BY SOFTWARE, 2019–2022 (USD MILLION)
                                   TABLE 372 QATAR: MOTOR MONITORING MARKE FOR SOFTWARE, BY SOFTWARE, 2023–2028 (USD MILLION)
                                   TABLE 373 QATAR: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2019–2022 (USD MILLION)
                                   TABLE 374 QATAR: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2023–2028 (USD MILLION)
                                   TABLE 375 QATAR: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 376 QATAR: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 377 QATAR: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 378 QATAR: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 379 QATAR: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 380 QATAR: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.5.5 SOUTH AFRICA
                       10.5.5.1 Increasing demand from mining industry to substantiate market growth
                                   TABLE 381 SOUTH AFRICA: MOTOR MONITORING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 382 SOUTH AFRICA: MOTOR MONITORING MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 383 SOUTH AFRICA: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2019–2022 (USD MILLION)
                                   TABLE 384 SOUTH AFRICA: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2023–2028 (USD MILLION)
                                   TABLE 385 SOUTH AFRICA: MOTOR MONITORING MARKE FOR SOFTWARE, BY SOFTWARE, 2019–2022 (USD MILLION)
                                   TABLE 386 SOUTH AFRICA: MOTOR MONITORING MARKE FOR SOFTWARE, BY SOFTWARE, 2023–2028 (USD MILLION)
                                   TABLE 387 SOUTH AFRICA: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2019–2022 (USD MILLION)
                                   TABLE 388 SOUTH AFRICA: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2023–2028 (USD MILLION)
                                   TABLE 389 SOUTH AFRICA: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                                   TABLE 390 SOUTH AFRICA: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                                   TABLE 391 SOUTH AFRICA: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                                   TABLE 392 SOUTH AFRICA: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                                   TABLE 393 SOUTH AFRICA: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                                   TABLE 394 SOUTH AFRICA: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             10.5.6 REST OF MEA
                       TABLE 395 REST OF MEA: MOTOR MONITORING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                       TABLE 396 REST OF MEA: MOTOR MONITORING MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                       TABLE 397 REST OF MEA: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2019–2022 (USD MILLION)
                       TABLE 398 REST OF MEA: MOTOR MONITORING MARKET FOR HARDWARE, BY HARDWARE, 2023–2028 (USD MILLION)
                       TABLE 399 REST OF MEA: MOTOR MONITORING MARKET FOR SOFTWARE, BY SOFTWARE, 2019–2022 (USD MILLION)
                       TABLE 400 REST OF MEA: MOTOR MONITORING MARKET FOR SOFTWARE, BY SOFTWARE, 2023–2028 (USD MILLION)
                       TABLE 401 REST OF MEA: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2019–2022 (USD MILLION)
                       TABLE 402 REST OF MEA: MOTOR MONITORING MARKET FOR SERVICES, BY SERVICES, 2023–2028 (USD MILLION)
                       TABLE 403 REST OF MEA: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                       TABLE 404 REST OF MEA: MOTOR MONITORING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                       TABLE 405 REST OF MEA: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2019–2022 (USD MILLION)
                       TABLE 406 REST OF MEA: MOTOR MONITORING MARKET, BY MONITORING PROCESS, 2023–2028 (USD MILLION)
                       TABLE 407 REST OF MEA: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
                       TABLE 408 REST OF MEA: MOTOR MONITORING MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
 
11 COMPETITIVE LANDSCAPE (Page No. - 241)
     11.1 OVERVIEW 
               TABLE 409 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2019– 2022
     11.2 MARKET SHARE ANALYSIS 
               TABLE 410 MOTOR MONITORING MARKET: DEGREE OF COMPETITION, 2022
               FIGURE 38 MOTOR MONITORING MARKET SHARE ANALYSIS, 2022
     11.3 REVENUE ANALYSIS 
               FIGURE 39 FIVE-YEAR REVENUE ANALYSIS OF TOP PLAYERS IN MOTOR MONITORING MARKET
     11.4 COMPANY EVALUATION MATRIX 
             11.4.1 STARS
             11.4.2 PERVASIVE PLAYERS
             11.4.3 EMERGING LEADERS
             11.4.4 PARTICIPANTS
                       FIGURE 40 MOTOR MONITORING MARKET: COMPANY EVALUATION MATRIX, 2022
     11.5 COMPANY FOOTPRINT 
               TABLE 411 BY OFFERING: COMPANY FOOTPRINT
               TABLE 412 BY REGION: COMPANY FOOTPRINT
               TABLE 413 COMPANY FOOTPRINT
     11.6 START-UP/SME EVALUATION MATRIX 
             11.6.1 PROGRESSIVE COMPANIES
             11.6.2 RESPONSIVE COMPANIES
             11.6.3 DYNAMIC COMPANIES
             11.6.4 STARTING BLOCKS
                       FIGURE 41 MOTOR MONITORING MARKET: STARTUP/SME EVALUATION MATRIX, 2022
             11.6.5 COMPETITIVE BENCHMARKING
                       TABLE 414 MOTOR MONITORING MARKET: DETAILED LIST OF KEY STARTUPS/SMES
                       TABLE 415 MOTOR MONITORING MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
                       TABLE 416 MOTOR MONITORING MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (END USERS)
     11.7 COMPETITIVE SCENARIOS AND TRENDS 
               TABLE 417 MOTOR MONITORING MARKET: PRODUCT LAUNCHES, AUGUST 2017– OCTOBER 2020
               TABLE 418 MOTOR MONITORING MARKET: DEALS, OCTOBER 2020– SEPTEMBER 2021
               TABLE 419 MOTOR MONITORING MARKET: OTHERS, MARCH 2018 – AUGUST 2020
 
12 COMPANY PROFILES (Page No. - 259)
(Business overview, Products/Solutions/Services offered, Recent developments & MnM View)*
     12.1 KEY PLAYERS 
             12.1.1 ABB
                       TABLE 420 ABB: COMPANY OVERVIEW
                       FIGURE 42 ABB: COMPANY SNAPSHOT
                       TABLE 421 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 422 ABB: PRODUCT LAUNCHES
                       TABLE 423 ABB: DEALS
                       TABLE 424 ABB: OTHERS
             12.1.2 GENERAL ELECTRIC
                       TABLE 425 GENERAL ELECTRIC: COMPANY OVERVIEW
                       FIGURE 43 GENERAL ELECTRIC: COMPANY SNAPSHOT
                       TABLE 426 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 427 GENERAL ELECTRIC: PRODUCT LAUNCHES
             12.1.3 SIEMENS
                       TABLE 428 SIEMENS: COMPANY OVERVIEW
                       FIGURE 44 SIEMENS: COMPANY SNAPSHOT
                       TABLE 429 SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 430 SIEMENS: PRODUCT LAUNCHES
                       TABLE 431 SIEMENS: DEALS
             12.1.4 HONEYWELL INTERNATIONAL INC.
                       TABLE 432 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW
                       FIGURE 45 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
                       TABLE 433 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 434 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES
                       TABLE 435 HONEYWELL INTERNATIONAL INC.: OTHERS
             12.1.5 SCHNEIDER ELECTRIC
                       TABLE 436 SCHNEIDER ELECTRIC: COMPANY OVERVIEW
                       FIGURE 46 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
                       TABLE 437 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 438 SCHNEIDER ELECTRIC: DEALS
             12.1.6 BANNER ENGINEERING CORP.
                       TABLE 439 BANNER ENGINEERING CORP.: COMPANY OVERVIEW
                       TABLE 440 BANNER ENGINEERING CORP.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 441 BANNER ENGINEERING CORP.: PRODUCT LAUNCHES
             12.1.7 WILSON TRANSFORMERS
                       TABLE 442 WILSON TRANSFORMERS: COMPANY OVERVIEW
                       TABLE 443 WILSON TRANSFORMERS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             12.1.8 SKF
                       TABLE 444 SKF: COMPANY OVERVIEW
                       FIGURE 47 SKF: COMPANY SNAPSHOT
                       TABLE 445 SKF: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 446 SKF: PRODUCT LAUNCHES
                       TABLE 447 SKF: DEALS
                       TABLE 448 SKF: OTHERS
             12.1.9 EMERSON ELECTRIC CO.
                       TABLE 449 EMERSON ELECTRIC CO.: COMPANY OVERVIEW
                       FIGURE 48 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
                       TABLE 450 EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 451 EMERSON ELECTRIC CO.: PRODUCT LAUNCHES
                       TABLE 452 EMERSON ELECTRIC CO.: DEALS
             12.1.10 ROCKWELL AUTOMATION
                       TABLE 453 ROCKWELL AUTOMATION: COMPANY OVERVIEW
                       FIGURE 49 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
                       TABLE 454 ROCKWELL AUTOMATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 455 ROCKWELL AUTOMATION: DEALS
             12.1.11 QUALITROL COMPANY LLC
                       TABLE 456 QUALITROL COMPANY LLC: COMPANY OVERVIEW
                       TABLE 457 QUALITROL COMPANY LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             12.1.12 WEG
                       TABLE 458 WEG: COMPANY OVERVIEW
                       FIGURE 50 WEG: COMPANY SNAPSHOT
                       TABLE 459 WEG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 460 WEG: PRODUCT LAUNCHES
                       TABLE 461 WEG: DEALS
                       TABLE 462 WEG: OTHERS
             12.1.13 MITSUBISHI ELECTRIC CORPORATION
                       TABLE 463 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW
                       FIGURE 51 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
                       TABLE 464 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 465 MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES
                       TABLE 466 MITSUBISHI ELECTRIC CORPORATION: DEALS
                       TABLE 467 MITSUBISHI ELECTRIC CORPORATION
             12.1.14 EATON
                       TABLE 468 EATON: COMPANY OVERVIEW
                       FIGURE 52 EATON: COMPANY SNAPSHOT
                       TABLE 469 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 470 EATON: PRODUCT LAUNCHES
                       TABLE 471 EATON: OTHERS
             12.1.15 ADVANTECH CO., LTD.
                       TABLE 472 ADVANTECH CO., LTD.: COMPANY OVERVIEW
                       FIGURE 53 ADVANTECH CO., LTD.: COMPANY SNAPSHOT
                       TABLE 473 ADVANTECH CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 474 ADVANTECH CO., LTD.: PRODUCT LAUNCHES
                       TABLE 475 ADVANTECH CO., LTD.: DEALS
*Details on Business overview, Products/Solutions/Services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     12.2 OTHER PLAYERS 
             12.2.1 DYNAPAR
             12.2.2 KCF TECHNOLOGIES
             12.2.3 PHOENIX CONTACT
             12.2.4 ALLIED RELIABILITY
             12.2.5 KONCAR– ELECTRICAL ENGINEERING INSTITUTE
 
13 APPENDIX (Page No. - 332)
     13.1 INSIGHTS FROM INDUSTRY EXPERTS 
     13.2 DISCUSSION GUIDE 
     13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     13.4 CUSTOMIZATION OPTIONS 
     13.5 RELATED REPORTS 
     13.6 AUTHOR DETAILS 

The study involved major activities in estimating the current size of the motor monitoring market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

This research study on the Motor monitoring market involved the use of extensive secondary sources, directories, and databases, such as The Energy Policy and Conservation Act of 1975 (EPCA), Electrical Appliances and Materials Safety Act, CE marking, The Electrical Equipment (Safety) Regulations 2016, UL 508, Energy Policy Act of 1992 (effective from 1997), International Organization for Standardization (ISO), ASTM International, National Electrical Manufacturers Association (NEMA) and International Electrotechnical Commission (IEC) to identify and collect information useful for a technical, market-oriented, and commercial study of the global Motor monitoring market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The motor monitoring market comprises several stakeholders such as motor monitoring manufacturers, manufacturers of subcomponents of motor monitoring, manufacturing technology providers, and technology support providers in the supply chain. The value chain of the motor monitoring market comprises research, design, and development centers, monitoring solution developers, system integrators, suppliers and distributors, end users, and post-sales service providers.  The value chain model helps portray the service flow for motor monitoring development from the lab to various end users. It notionally estimates the value gained or lost by various stakeholders. The value chain model provides situational awareness of the drivers that influence the demand for motor monitoring. 

Motor Monitoring Market Size, and Share

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

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the Motor monitoring market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions has been determined through both primary and secondary research.
  • The industry’s value chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Global Motor Monitoring Market Size: Top-down Approach

Motor Monitoring Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Global Motor Monitoring Market Size: Bottom-Up Approach

Motor Monitoring Market Size, and Share

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, the data triangulation and market breakdown processes have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand- and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Market Definition

Motor monitoring is the process of tracking the performance of motors to minimize downtime needed for repairs. It is one of the aspects of predictive maintenance. The failing machinery is predicted by monitoring the vibration or temperature of the motor case or the bearings; it can also be detected by monitoring and analyzing the current in the motor. Routine monitoring is the most effective strategy for detecting potential problems, and it can prompt invaluable follow-up inspections. Predictive maintenance has become a worldwide accepted practice and is being implemented and finely tuned by nearly every industry. Locating, defining, and acting on potential problems before they become catastrophic is the main objective of a predictive maintenance program.

Key Stakeholders

  • Technicians and repair personnel
  • Government and research organizations
  • Investment banks
  • End-user industries
  • Motor monitoring solution providers
  • Consulting companies
  • Associations, organizations, forums, and alliances related to motor monitoring solutions
  • Venture capitalists, private equity firms, and start-ups
  • Organizations, forums, alliances, and associations
  • State and national regulatory authorities
  • Venture capital firms

Objectives of the Study

  • To define, describe, segment, and forecast the motor monitoring market, in terms of value and volume, offering, deployment, end user, monitoring process and region
  • To forecast the market size for five key regions: North America, South America, Europe, Asia Pacific, and Middle East & Africa, along with their key countries
  • To provide detailed information about the key drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze the subsegments with respect to individual growth trends, prospects, and contributions of each segment to the overall market size
  • To analyze market opportunities for stakeholders and the competitive landscape of the market
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies
  • To analyze competitive developments, such as deals and agreements in the market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Geographic Analysis

  • Further breakdown of region or country-specific analysis

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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