[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

Global Machine Condition Monitoring Market Size study & Forecast, by Monitoring Technique (Vibration Monitoring, Oil Analysis, Thermography, Others), by Component (Hardware, Software, Services), by Deployment (Cloud, On-premises), by Monitoring Process (Online, Portable), by End-use Industry (Power Generation, Automotive, Oil & Gas, Others) and Regional Analysis, 2023-2030

October 2023 | 200 pages | ID: G86167A0BFC9EN
Bizwit Research & Consulting LLP

US$ 4,950.00

E-mail Delivery (PDF), Hard Copy Mail Delivery

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
Global Machine Condition Monitoring Market is valued at approximately USD 2.75 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.3% over the forecast period 2023-2030. Machine condition monitoring is a process used to assess the health and performance of machines and equipment in various industries. It entails the constant observation of the state and behavior of machines, including rotating machinery, engines, pumps, compressors, and other crucial assets, using a variety of sensors, instruments, and data analysis tools. The Machine Condition Monitoring market is expanding because of factors such as the growing adoption of industrial IoT and big data analytics, and the rising deployment of automated condition monitoring technologies in smart factories.

Machine Condition Monitoring is strongly related to the Industrial Internet of Things (IIoT) and big data analytics. The combination of sensors, connectivity, and data analytics platforms enables real-time monitoring and analysis of machine health, resulting in proactive maintenance and better decision-making. IIoT and big data analytics are being adopted by businesses more and more, which is resulting in market growth. According to Statista, in the year 2020, the Industrial Internet of Things (IIoT) market size worldwide stood at USD 216.13 billion which increased to USD 263.52 billion in the year 2021 and it is projected to reach USD 1110 billion by the year 2028. This increase in market size indicates the rising adoption of IoT in the industrial sector which integrates sensors, connectivity, and data analytics platforms enable smart automation in the industry, resulting in market growth.. In addition, Surging adoption of wireless communication technology in machine condition monitoring and increasing use of predictive maintenance techniques by industry players is creating new opportunities to the market growth. However, the high cost of machine condition monitoring and the shortage of technical expertise necessary to carry out data analysis stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Machine Condition Monitoring Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players, rising adoption of smart manufacturing technologies, rising development of smart factories, rising industrial automation and rising investment for the adoption of advanced technologies in the industry. Furthermore, Asia Pacific is projected to have significant growth owing to factors such as rising initiatives for adoption of automation technologies, and rising development of smart manufacturing facilities in the region.

Major market player included in this report are:

Meggitt Sensing Systems (Meggitt PLC)

Rockwell Automation Inc.

GE Bently Nevada

Emerson Electric Co.

SKF AB

Bru?el & Kjaer Vibro

Teledyne FLIR LLC

Fluke Corporation

Nippon Avionics Co., Ltd.

Thermo Fisher Scientific Inc.

Recent Developments in the Market:
  • In April 2022, SKF and Amazon Web Services collaborated to develop a scalable and user-friendly condition monitoring and analysis system. The business wants to reinvent industrial machine dependability and preventive maintenance.
  • In June 2022, Watersight, a partnership between MEKOROT and Newsight Imaging, officially unveiled AquaRing, a comprehensive real-time monitoring solution for online water condition management for the water, utility, and food and beverage industries.
Global Machine Condition Monitoring Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered – Monitoring Technique, Component, Deployment, Monitoring Process, End-use Industry, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Monitoring Technique:

Vibration Monitoring

Oil Analysis

Thermography

Corrosion Monitoring

Others

By Component:

Hardware

Software

Services

By Deployment:

Cloud

On-premises

By Monitoring Process

Online

Portable

By End-use Industry:

Power Generation

Automotive

Oil & Gas

Metal & Mining

Aerospace

Food & Beverages

Chemicals

Marine

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Machine Condition Monitoring Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Machine Condition Monitoring Market, by Monitoring Technique, 2020-2030 (USD Billion)
  1.2.3. Machine Condition Monitoring Market, by Component, 2020-2030 (USD Billion)
  1.2.4. Machine Condition Monitoring Market, by Deployment, 2020-2030 (USD Billion)
  1.2.5. Machine Condition Monitoring Market, by Monitoring Process, 2020-2030 (USD Billion)
  1.2.6. Machine Condition Monitoring Market, by End-use Industry, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL MACHINE CONDITION MONITORING MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL MACHINE CONDITION MONITORING MARKET DYNAMICS

3.1. Machine Condition Monitoring Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Growing adoption of industrial IoT and big data analytics
    3.1.1.2. Rising deployment of automated condition monitoring technologies in smart factories
  3.1.2. Market Challenges
    3.1.2.1. High Cost of Machine Condition Monitoring
    3.1.2.2. Shortage of technical expertise necessary to carry out data analysis
  3.1.3. Market Opportunities
    3.1.3.1. Surging adoption of wireless communication technology in machine condition monitoring
    3.1.3.2. Increasing use of predictive maintenance techniques by industry players

CHAPTER 4. GLOBAL MACHINE CONDITION MONITORING MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE

5.1. Market Snapshot
5.2. Global Machine Condition Monitoring Market by Monitoring Technique, Performance - Potential Analysis
5.3. Global Machine Condition Monitoring Market Estimates & Forecasts by Monitoring Technique 2020-2030 (USD Billion)
5.4. Machine Condition Monitoring Market, Sub Segment Analysis
  5.4.1. Vibration Monitoring
  5.4.2. Oil Analysis
  5.4.3. Thermography
  5.4.4. Corrosion Monitoring
  5.4.5. Others

CHAPTER 6. GLOBAL MACHINE CONDITION MONITORING MARKET, BY COMPONENT

6.1. Market Snapshot
6.2. Global Machine Condition Monitoring Market by Component, Performance - Potential Analysis
6.3. Global Machine Condition Monitoring Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
6.4. Machine Condition Monitoring Market, Sub Segment Analysis
  6.4.1. Hardware
  6.4.2. Software
  6.4.3. Services

CHAPTER 7. GLOBAL MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT

7.1. Market Snapshot
7.2. Global Machine Condition Monitoring Market by Deployment, Performance - Potential Analysis
7.3. Global Machine Condition Monitoring Market Estimates & Forecasts by Deployment 2020-2030 (USD Billion)
7.4. Machine Condition Monitoring Market, Sub Segment Analysis
  7.4.1. Cloud
  7.4.2. On-premises

CHAPTER 8. GLOBAL MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS

8.1. Market Snapshot
8.2. Global Machine Condition Monitoring Market by Monitoring Process, Performance - Potential Analysis
8.3. Global Machine Condition Monitoring Market Estimates & Forecasts by Monitoring Process 2020-2030 (USD Billion)
8.4. Machine Condition Monitoring Market, Sub Segment Analysis
  8.4.1. Online
  8.4.2. Portable

CHAPTER 9. GLOBAL MACHINE CONDITION MONITORING MARKET, BY END-USE INDUSTRY

9.1. Market Snapshot
9.2. Global Machine Condition Monitoring Market by End-use Industry, Performance - Potential Analysis
9.3. Global Machine Condition Monitoring Market Estimates & Forecasts by End-use Industry 2020-2030 (USD Billion)
9.4. Machine Condition Monitoring Market, Sub Segment Analysis
  9.4.1. Power Generation
  9.4.2. Automotive
  9.4.3. Oil & Gas
  9.4.4. Metal & Mining
  9.4.5. Aerospace
  9.4.6. Food & Beverages
  9.4.7. Chemicals
  9.4.8. Marine
  9.4.9. Others

CHAPTER 10. GLOBAL MACHINE CONDITION MONITORING MARKET, REGIONAL ANALYSIS

10.1. Top Leading Countries
10.2. Top Emerging Countries
10.3. Machine Condition Monitoring Market, Regional Market Snapshot
10.4. North America Machine Condition Monitoring Market
  10.4.1. U.S. Machine Condition Monitoring Market
    10.4.1.1. Monitoring Technique breakdown estimates & forecasts, 2020-2030
    10.4.1.2. Component breakdown estimates & forecasts, 2020-2030
    10.4.1.3. Deployment breakdown estimates & forecasts, 2020-2030
    10.4.1.4. Monitoring Process breakdown estimates & forecasts, 2020-2030
    10.4.1.5. End-use Industry breakdown estimates & forecasts, 2020-2030
  10.4.2. Canada Machine Condition Monitoring Market
10.5. Europe Machine Condition Monitoring Market Snapshot
  10.5.1. U.K. Machine Condition Monitoring Market
  10.5.2. Germany Machine Condition Monitoring Market
  10.5.3. France Machine Condition Monitoring Market
  10.5.4. Spain Machine Condition Monitoring Market
  10.5.5. Italy Machine Condition Monitoring Market
  10.5.6. Rest of Europe Machine Condition Monitoring Market
10.6. Asia-Pacific Machine Condition Monitoring Market Snapshot
  10.6.1. China Machine Condition Monitoring Market
  10.6.2. India Machine Condition Monitoring Market
  10.6.3. Japan Machine Condition Monitoring Market
  10.6.4. Australia Machine Condition Monitoring Market
  10.6.5. South Korea Machine Condition Monitoring Market
  10.6.6. Rest of Asia Pacific Machine Condition Monitoring Market
10.7. Latin America Machine Condition Monitoring Market Snapshot
  10.7.1. Brazil Machine Condition Monitoring Market
  10.7.2. Mexico Machine Condition Monitoring Market
10.8. Middle East & Africa Machine Condition Monitoring Market
  10.8.1. Saudi Arabia Machine Condition Monitoring Market
  10.8.2. South Africa Machine Condition Monitoring Market
  10.8.3. Rest of Middle East & Africa Machine Condition Monitoring Market

CHAPTER 11. COMPETITIVE INTELLIGENCE

11.1. Key Company SWOT Analysis
  11.1.1. Company
  11.1.2. Company
  11.1.3. Company
11.2. Top Market Strategies
11.3. Company Profiles
  11.3.1. Meggitt Sensing Systems (Meggitt PLC)
    11.3.1.1. Key Information
    11.3.1.2. Overview
    11.3.1.3. Financial (Subject to Data Availability)
    11.3.1.4. Product Summary
    11.3.1.5. Recent Developments
  11.3.2. Rockwell Automation Inc.
  11.3.3. GE Bently Nevada
  11.3.4. Emerson Electric Co.
  11.3.5. SKF AB
  11.3.6. Bru?el & Kjaer Vibro
  11.3.7. Teledyne FLIR LLC
  11.3.8. Fluke Corporation
  11.3.9. Nippon Avionics Co., Ltd.
  11.3.10. Thermo Fisher Scientific Inc.

CHAPTER 12. RESEARCH PROCESS

12.1. Research Process
  12.1.1. Data Mining
  12.1.2. Analysis
  12.1.3. Market Estimation
  12.1.4. Validation
  12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Machine Condition Monitoring Market, report scope
TABLE 2. Global Machine Condition Monitoring Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Machine Condition Monitoring Market estimates & forecasts by Monitoring Technique 2020-2030 (USD Billion)
TABLE 4. Global Machine Condition Monitoring Market estimates & forecasts by Component 2020-2030 (USD Billion)
TABLE 5. Global Machine Condition Monitoring Market estimates & forecasts by Deployment 2020-2030 (USD Billion)
TABLE 6. Global Machine Condition Monitoring Market estimates & forecasts by Monitoring Process 2020-2030 (USD Billion)
TABLE 7. Global Machine Condition Monitoring Market estimates & forecasts by End-use Industry 2020-2030 (USD Billion)
TABLE 8. Global Machine Condition Monitoring Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Machine Condition Monitoring Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Machine Condition Monitoring Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Machine Condition Monitoring Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Machine Condition Monitoring Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Machine Condition Monitoring Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Machine Condition Monitoring Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Machine Condition Monitoring Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. Global Machine Condition Monitoring Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. Global Machine Condition Monitoring Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 18. U.S. Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 19. U.S. Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20. U.S. Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 22. Canada Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23. Canada Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 25. UK Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26. UK Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 28. Germany Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29. Germany Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 31. France Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32. France Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 34. Italy Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35. Italy Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 37. Spain Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38. Spain Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 40. RoE Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41. RoE Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 43. China Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44. China Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 46. India Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47. India Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 49. Japan Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50. Japan Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 52. South Korea Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53. South Korea Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 55. Australia Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56. Australia Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 58. RoAPAC Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59. RoAPAC Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 61. Brazil Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62. Brazil Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 64. Mexico Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65. Mexico Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 67. RoLA Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68. RoLA Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. Saudi Arabia Machine Condition Monitoring Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 70. South Africa Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 71. RoMEA Machine Condition Monitoring Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 72. List of secondary sources, used in the study of global Machine Condition Monitoring Market
TABLE 73. List of primary sources, used in the study of global Machine Condition Monitoring Market
TABLE 74. Years considered for the study
TABLE 75. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Machine Condition Monitoring Market, research methodology
FIG 2. Global Machine Condition Monitoring Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Machine Condition Monitoring Market, key trends 2022
FIG 5. Global Machine Condition Monitoring Market, growth prospects 2023-2030
FIG 6. Global Machine Condition Monitoring Market, porters 5 force model
FIG 7. Global Machine Condition Monitoring Market, pest analysis
FIG 8. Global Machine Condition Monitoring Market, value chain analysis
FIG 9. Global Machine Condition Monitoring Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Machine Condition Monitoring Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Machine Condition Monitoring Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Machine Condition Monitoring Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Machine Condition Monitoring Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Machine Condition Monitoring Market, regional snapshot 2020 & 2030
FIG 15. North America Machine Condition Monitoring Market 2020 & 2030 (USD Billion)
FIG 16. Europe Machine Condition Monitoring Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Machine Condition Monitoring Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Machine Condition Monitoring Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Machine Condition Monitoring Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


More Publications