The Equipment Monitoring Market is expected to register a CAGR of 5.6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Vibration Monitoring, Thermal Monitoring, Lubrication Monitoring, Corrosion Monitoring, Noise Monitoring, Motor Current Monitoring, GPS Tracking, Alarm Monitoring); Process (Online Equipment Monitoring, Portable Equipment Monitoring); Deployment (On-premise, Cloud); Industry (Oil and Gas, Power Generation, Metals and Mining, Chemicals, Automotive, Aerospace and Defense, Food and Beverages, Marine, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Equipment Monitoring Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Equipment Monitoring Market Segmentation
Type- Vibration Monitoring
- Thermal Monitoring
- Lubrication Monitoring
- Corrosion Monitoring
- Noise Monitoring
- Motor Current Monitoring
- GPS Tracking
- Alarm Monitoring
- Online Equipment Monitoring
- Portable Equipment Monitoring
- On-premise
- Cloud
- Oil and Gas
- Power Generation
- Metals and Mining
- Chemicals
- Automotive
- Aerospace and Defense
- Food and Beverages
- Marine
- Others
Strategic Insights
Equipment Monitoring Market Growth Drivers- Increased Focus on Operational Efficiency and Cost Reduction: Companies have been adopting equipment monitoring solutions to ensure optimization of asset performance, decrease downtime, and avoid expensive repairs. Using real-time data and predictive analytics enables organizations to enhance maintenance strategies and improve asset lifespan, resulting in lower operational costs.
- Advancements in IoT and Connectivity: The increasing adoption of Internet of Things (IoT) sensors and cloud-based platforms for continuous, real-time monitoring of equipment performance is driving demand for sophisticated equipment monitoring solutions. This is because IoT-enabled devices are providing actionable insights that will allow for predictive maintenance, remote monitoring, and even more accurate decision-making.
- AI/ML Integration: AI and ML technologies are increasingly being integrated into equipment monitoring systems. Predictive analytics can be performed using these technologies, thus better predating equipment failure and maintenance requirements. Using historical data, AI/ML algorithms can thus improve their predictions progressively with minimal probabilities of unplanned downtime.
- Edge Computing for Real-Time Data Processing: Edge computing is increasingly being used in the equipment monitoring market. By processing data closer to the source (at the edge), organizations can make faster decisions without relying solely on centralized cloud systems. This reduces latency, improves response times, and enhances real-time monitoring capabilities, which is critical in environments where immediate action is required.
- Industry 4.0 and Smart Manufacturing Growth:Adoption of Industry 4.0 technologies, such as smart factories, robotics, and automated systems, is forcing the need for more sophisticated equipment monitoring. Manufacturers increasingly adopt automated, interconnected systems, and this provides a greater opportunity to integrate advanced monitoring solutions that can ensure system uptime, enhance productivity, and reduce maintenance costs.
- Increased Demand for Equipment Monitoring in Renewable Energy: The renewable energy sector, particularly wind and solar power, is increasingly relying on equipment monitoring systems to ensure the efficient operation of assets. Monitoring solutions help track the health of turbines, solar panels, and other renewable energy equipment, enabling predictive maintenance and reducing downtime. As the renewable energy market expands, the need for reliable and efficient equipment monitoring solutions will continue to grow, creating new opportunities for vendors in the sector.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Equipment Monitoring Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Equipment Monitoring Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Key players in the equipment monitoring market include General Electric, Honeywell International, National Instruments, Parker Hannifin Corporation, Rockwell Automation, Inc., Schaeffler AG, ABB, Fortive Corporation, ALS Limited, and Schneider Electric Co.
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
The Equipment Monitoring Market is estimated to witness a CAGR of 5.6% from 2023 to 2031
The major factors driving the equipment monitoring market are:
1. Increased Focus on Operational Efficiency and Cost Reduction.
2.Advancements in IoT and Connectivity
Edge Computing for Real-Time Data Processing is likely to remain a key trend in the market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Equipment Monitoring Market - By Type
1.3.2 Equipment Monitoring Market - By Process
1.3.3 Equipment Monitoring Market - By Deployment
1.3.4 Equipment Monitoring Market - By Industry
1.3.5 Equipment Monitoring Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. EQUIPMENT MONITORING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. EQUIPMENT MONITORING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. EQUIPMENT MONITORING MARKET - GLOBAL MARKET ANALYSIS
6.1. EQUIPMENT MONITORING - GLOBAL MARKET OVERVIEW
6.2. EQUIPMENT MONITORING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. EQUIPMENT MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. VIBRATION MONITORING
7.3.1. Overview
7.3.2. Vibration Monitoring Market Forecast and Analysis
7.4. THERMAL MONITORING
7.4.1. Overview
7.4.2. Thermal Monitoring Market Forecast and Analysis
7.5. LUBRICATION MONITORING
7.5.1. Overview
7.5.2. Lubrication Monitoring Market Forecast and Analysis
7.6. CORROSION MONITORING
7.6.1. Overview
7.6.2. Corrosion Monitoring Market Forecast and Analysis
7.7. NOISE MONITORING
7.7.1. Overview
7.7.2. Noise Monitoring Market Forecast and Analysis
7.8. MOTOR CURRENT MONITORING
7.8.1. Overview
7.8.2. Motor Current Monitoring Market Forecast and Analysis
7.9. GPS TRACKING
7.9.1. Overview
7.9.2. GPS Tracking Market Forecast and Analysis
7.10. ALARM MONITORING
7.10.1. Overview
7.10.2. Alarm Monitoring Market Forecast and Analysis
8. EQUIPMENT MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - PROCESS
8.1. OVERVIEW
8.2. PROCESS MARKET FORECASTS AND ANALYSIS
8.3. ONLINE EQUIPMENT MONITORING
8.3.1. Overview
8.3.2. Online Equipment Monitoring Market Forecast and Analysis
8.4. PORTABLE EQUIPMENT MONITORING
8.4.1. Overview
8.4.2. Portable Equipment Monitoring Market Forecast and Analysis
9. EQUIPMENT MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT
9.1. OVERVIEW
9.2. DEPLOYMENT MARKET FORECASTS AND ANALYSIS
9.3. ON-PREMISE
9.3.1. Overview
9.3.2. On-premise Market Forecast and Analysis
9.4. CLOUD
9.4.1. Overview
9.4.2. Cloud Market Forecast and Analysis
10. EQUIPMENT MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY
10.1. OVERVIEW
10.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3. OIL AND GAS
10.3.1. Overview
10.3.2. Oil and Gas Market Forecast and Analysis
10.4. POWER GENERATION
10.4.1. Overview
10.4.2. Power Generation Market Forecast and Analysis
10.5. METALS AND MINING
10.5.1. Overview
10.5.2. Metals and Mining Market Forecast and Analysis
10.6. CHEMICALS
10.6.1. Overview
10.6.2. Chemicals Market Forecast and Analysis
10.7. AUTOMOTIVE
10.7.1. Overview
10.7.2. Automotive Market Forecast and Analysis
10.8. AEROSPACE AND DEFENSE
10.8.1. Overview
10.8.2. Aerospace and Defense Market Forecast and Analysis
10.9. FOOD AND BEVERAGES
10.9.1. Overview
10.9.2. Food and Beverages Market Forecast and Analysis
10.10. MARINE
10.10.1. Overview
10.10.2. Marine Market Forecast and Analysis
10.11. OTHERS
10.11.1. Overview
10.11.2. Others Market Forecast and Analysis
11. EQUIPMENT MONITORING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Equipment Monitoring Market Overview
11.1.2 North America Equipment Monitoring Market Forecasts and Analysis
11.1.3 North America Equipment Monitoring Market Forecasts and Analysis - By Type
11.1.4 North America Equipment Monitoring Market Forecasts and Analysis - By Process
11.1.5 North America Equipment Monitoring Market Forecasts and Analysis - By Deployment
11.1.6 North America Equipment Monitoring Market Forecasts and Analysis - By Industry
11.1.7 North America Equipment Monitoring Market Forecasts and Analysis - By Countries
11.1.7.1 United States Equipment Monitoring Market
11.1.7.1.1 United States Equipment Monitoring Market by Type
11.1.7.1.2 United States Equipment Monitoring Market by Process
11.1.7.1.3 United States Equipment Monitoring Market by Deployment
11.1.7.1.4 United States Equipment Monitoring Market by Industry
11.1.7.2 Canada Equipment Monitoring Market
11.1.7.2.1 Canada Equipment Monitoring Market by Type
11.1.7.2.2 Canada Equipment Monitoring Market by Process
11.1.7.2.3 Canada Equipment Monitoring Market by Deployment
11.1.7.2.4 Canada Equipment Monitoring Market by Industry
11.1.7.3 Mexico Equipment Monitoring Market
11.1.7.3.1 Mexico Equipment Monitoring Market by Type
11.1.7.3.2 Mexico Equipment Monitoring Market by Process
11.1.7.3.3 Mexico Equipment Monitoring Market by Deployment
11.1.7.3.4 Mexico Equipment Monitoring Market by Industry
11.2. EUROPE
11.2.1 Europe Equipment Monitoring Market Overview
11.2.2 Europe Equipment Monitoring Market Forecasts and Analysis
11.2.3 Europe Equipment Monitoring Market Forecasts and Analysis - By Type
11.2.4 Europe Equipment Monitoring Market Forecasts and Analysis - By Process
11.2.5 Europe Equipment Monitoring Market Forecasts and Analysis - By Deployment
11.2.6 Europe Equipment Monitoring Market Forecasts and Analysis - By Industry
11.2.7 Europe Equipment Monitoring Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Equipment Monitoring Market
11.2.7.1.1 Germany Equipment Monitoring Market by Type
11.2.7.1.2 Germany Equipment Monitoring Market by Process
11.2.7.1.3 Germany Equipment Monitoring Market by Deployment
11.2.7.1.4 Germany Equipment Monitoring Market by Industry
11.2.7.2 France Equipment Monitoring Market
11.2.7.2.1 France Equipment Monitoring Market by Type
11.2.7.2.2 France Equipment Monitoring Market by Process
11.2.7.2.3 France Equipment Monitoring Market by Deployment
11.2.7.2.4 France Equipment Monitoring Market by Industry
11.2.7.3 Italy Equipment Monitoring Market
11.2.7.3.1 Italy Equipment Monitoring Market by Type
11.2.7.3.2 Italy Equipment Monitoring Market by Process
11.2.7.3.3 Italy Equipment Monitoring Market by Deployment
11.2.7.3.4 Italy Equipment Monitoring Market by Industry
11.2.7.4 United Kingdom Equipment Monitoring Market
11.2.7.4.1 United Kingdom Equipment Monitoring Market by Type
11.2.7.4.2 United Kingdom Equipment Monitoring Market by Process
11.2.7.4.3 United Kingdom Equipment Monitoring Market by Deployment
11.2.7.4.4 United Kingdom Equipment Monitoring Market by Industry
11.2.7.5 Russia Equipment Monitoring Market
11.2.7.5.1 Russia Equipment Monitoring Market by Type
11.2.7.5.2 Russia Equipment Monitoring Market by Process
11.2.7.5.3 Russia Equipment Monitoring Market by Deployment
11.2.7.5.4 Russia Equipment Monitoring Market by Industry
11.2.7.6 Rest of Europe Equipment Monitoring Market
11.2.7.6.1 Rest of Europe Equipment Monitoring Market by Type
11.2.7.6.2 Rest of Europe Equipment Monitoring Market by Process
11.2.7.6.3 Rest of Europe Equipment Monitoring Market by Deployment
11.2.7.6.4 Rest of Europe Equipment Monitoring Market by Industry
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Equipment Monitoring Market Overview
11.3.2 Asia-Pacific Equipment Monitoring Market Forecasts and Analysis
11.3.3 Asia-Pacific Equipment Monitoring Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Equipment Monitoring Market Forecasts and Analysis - By Process
11.3.5 Asia-Pacific Equipment Monitoring Market Forecasts and Analysis - By Deployment
11.3.6 Asia-Pacific Equipment Monitoring Market Forecasts and Analysis - By Industry
11.3.7 Asia-Pacific Equipment Monitoring Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Equipment Monitoring Market
11.3.7.1.1 Australia Equipment Monitoring Market by Type
11.3.7.1.2 Australia Equipment Monitoring Market by Process
11.3.7.1.3 Australia Equipment Monitoring Market by Deployment
11.3.7.1.4 Australia Equipment Monitoring Market by Industry
11.3.7.2 China Equipment Monitoring Market
11.3.7.2.1 China Equipment Monitoring Market by Type
11.3.7.2.2 China Equipment Monitoring Market by Process
11.3.7.2.3 China Equipment Monitoring Market by Deployment
11.3.7.2.4 China Equipment Monitoring Market by Industry
11.3.7.3 India Equipment Monitoring Market
11.3.7.3.1 India Equipment Monitoring Market by Type
11.3.7.3.2 India Equipment Monitoring Market by Process
11.3.7.3.3 India Equipment Monitoring Market by Deployment
11.3.7.3.4 India Equipment Monitoring Market by Industry
11.3.7.4 Japan Equipment Monitoring Market
11.3.7.4.1 Japan Equipment Monitoring Market by Type
11.3.7.4.2 Japan Equipment Monitoring Market by Process
11.3.7.4.3 Japan Equipment Monitoring Market by Deployment
11.3.7.4.4 Japan Equipment Monitoring Market by Industry
11.3.7.5 South Korea Equipment Monitoring Market
11.3.7.5.1 South Korea Equipment Monitoring Market by Type
11.3.7.5.2 South Korea Equipment Monitoring Market by Process
11.3.7.5.3 South Korea Equipment Monitoring Market by Deployment
11.3.7.5.4 South Korea Equipment Monitoring Market by Industry
11.3.7.6 Rest of Asia-Pacific Equipment Monitoring Market
11.3.7.6.1 Rest of Asia-Pacific Equipment Monitoring Market by Type
11.3.7.6.2 Rest of Asia-Pacific Equipment Monitoring Market by Process
11.3.7.6.3 Rest of Asia-Pacific Equipment Monitoring Market by Deployment
11.3.7.6.4 Rest of Asia-Pacific Equipment Monitoring Market by Industry
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Equipment Monitoring Market Overview
11.4.2 Middle East and Africa Equipment Monitoring Market Forecasts and Analysis
11.4.3 Middle East and Africa Equipment Monitoring Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Equipment Monitoring Market Forecasts and Analysis - By Process
11.4.5 Middle East and Africa Equipment Monitoring Market Forecasts and Analysis - By Deployment
11.4.6 Middle East and Africa Equipment Monitoring Market Forecasts and Analysis - By Industry
11.4.7 Middle East and Africa Equipment Monitoring Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Equipment Monitoring Market
11.4.7.1.1 South Africa Equipment Monitoring Market by Type
11.4.7.1.2 South Africa Equipment Monitoring Market by Process
11.4.7.1.3 South Africa Equipment Monitoring Market by Deployment
11.4.7.1.4 South Africa Equipment Monitoring Market by Industry
11.4.7.2 Saudi Arabia Equipment Monitoring Market
11.4.7.2.1 Saudi Arabia Equipment Monitoring Market by Type
11.4.7.2.2 Saudi Arabia Equipment Monitoring Market by Process
11.4.7.2.3 Saudi Arabia Equipment Monitoring Market by Deployment
11.4.7.2.4 Saudi Arabia Equipment Monitoring Market by Industry
11.4.7.3 U.A.E Equipment Monitoring Market
11.4.7.3.1 U.A.E Equipment Monitoring Market by Type
11.4.7.3.2 U.A.E Equipment Monitoring Market by Process
11.4.7.3.3 U.A.E Equipment Monitoring Market by Deployment
11.4.7.3.4 U.A.E Equipment Monitoring Market by Industry
11.4.7.4 Rest of Middle East and Africa Equipment Monitoring Market
11.4.7.4.1 Rest of Middle East and Africa Equipment Monitoring Market by Type
11.4.7.4.2 Rest of Middle East and Africa Equipment Monitoring Market by Process
11.4.7.4.3 Rest of Middle East and Africa Equipment Monitoring Market by Deployment
11.4.7.4.4 Rest of Middle East and Africa Equipment Monitoring Market by Industry
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Equipment Monitoring Market Overview
11.5.2 South and Central America Equipment Monitoring Market Forecasts and Analysis
11.5.3 South and Central America Equipment Monitoring Market Forecasts and Analysis - By Type
11.5.4 South and Central America Equipment Monitoring Market Forecasts and Analysis - By Process
11.5.5 South and Central America Equipment Monitoring Market Forecasts and Analysis - By Deployment
11.5.6 South and Central America Equipment Monitoring Market Forecasts and Analysis - By Industry
11.5.7 South and Central America Equipment Monitoring Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Equipment Monitoring Market
11.5.7.1.1 Brazil Equipment Monitoring Market by Type
11.5.7.1.2 Brazil Equipment Monitoring Market by Process
11.5.7.1.3 Brazil Equipment Monitoring Market by Deployment
11.5.7.1.4 Brazil Equipment Monitoring Market by Industry
11.5.7.2 Argentina Equipment Monitoring Market
11.5.7.2.1 Argentina Equipment Monitoring Market by Type
11.5.7.2.2 Argentina Equipment Monitoring Market by Process
11.5.7.2.3 Argentina Equipment Monitoring Market by Deployment
11.5.7.2.4 Argentina Equipment Monitoring Market by Industry
11.5.7.3 Rest of South and Central America Equipment Monitoring Market
11.5.7.3.1 Rest of South and Central America Equipment Monitoring Market by Type
11.5.7.3.2 Rest of South and Central America Equipment Monitoring Market by Process
11.5.7.3.3 Rest of South and Central America Equipment Monitoring Market by Deployment
11.5.7.3.4 Rest of South and Central America Equipment Monitoring Market by Industry
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. EQUIPMENT MONITORING MARKET, KEY COMPANY PROFILES
13.1. EMERSON ELECTRIC CO.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. HONEYWELL
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. NATIONAL INSTRUMENTS
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. PARKER HANNIFIN CORP
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. PRÜFTECHNIK DIETER BUSCH GMBH
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. ROCKWELL AUTOMATION, INC.
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. SIEMENS
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. SKF GROUP
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SPM INSTRUMENT AB
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. YOKOGAWA ELECTRIC CORPORATION
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Emerson Electric Co.
2. Honeywell
3. National Instruments
4. PARKER HANNIFIN CORP
5. PRÜFTECHNIK Dieter Busch GmbH
6. Rockwell Automation, Inc.
7. Siemens
8. SKF Group
9. SPM Instrument AB
10. Yokogawa Electric Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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