Machine Condition Monitoring Market Scope And Analysis

Report Code : TIPRE00002931
Category : Electronics and Semiconductor

No. of Pages : 150

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Machine Condition Monitoring Market Analysis and Scope (2024 to 2031)

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Machine Condition Monitoring Market Report Scope

Report Attribute	Details
Market size in 2023	US$ 2.85 Billion
Market Size by 2031	US$ 5.31 Billion
Global CAGR (2023 - 2031)	8.1%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Monitoring Technique Vibration Monitoring Thermography Oil Analysis Corrosion Monitoring Ultrasound Emission Motor Current Analysis By Offering Hardware Software By Deployment On Premise Cloud By Monitoring Process Online Condition Monitoring Portable Condition Monitoring
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	ASL Limited Emerson Electric Co General Electric Co Honeywell International Inc National Instruments Parker Hannifin Corp Rockwell Automation Schaeffler Technologies SKF Wilcoxon Sensing Technologies

Machine Condition Monitoring Market News and Recent Developments

The machine condition monitoring market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for machine condition monitoring and strategies:

In November 2023, SKF expanded its portfolio of condition monitoring solutions with the SKF Enlight Collect IMx-1-EX sensor solution. Wireless monitoring of assets helps predict machine failure before it can escalate into a serious problem, such as an unscheduled shutdown. This can deliver multiple benefits, including reduced costs and a more sustainable operation of equipment. (Source: SKF, Press Release, 2023)
In April 2022, OMRON Corporation launched the new K7TM condition monitor for heater equipment used, especially in the automotive and FMCG industries. The K7TM visualizes deterioration tendencies to enable predictive maintenance and contributes to the realization of a carbon-free society. (Source: OMRON Corporation, Press Release, 2023)

Machine Condition Monitoring Market Report Coverage and Deliverables

The “Machine Condition Monitoring Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
Market dynamics such as drivers, restraints, and key opportunities
Key future trends
Detailed PEST/Porter’s Five Forces and SWOT analysis
Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
Detailed company profiles