Machine condition monitoring market
The 𝐌𝐚𝐫𝐤𝐞𝐭 was valued at USD 2.8 billion in 2023 and is expected to grow at a CAGR of 7.5% between 2024 and 2030, reaching almost USD 4.65 billion in 2030. This growth is driven by increasing industrialization, the need for predictive maintenance and demand for optimized equipment performance across industries.
Register now:
Machine health monitoring refers to the practice of monitoring and tracking the health of machines and equipment in various industries such as oil and gas, automotive, aerospace and power generation. By using sensors and advanced technologies such as vibration analysis, thermography and oil analysis, companies can detect early signs of wear and possible failures. This proactive maintenance helps reduce downtime, extend equipment life and optimize overall productivity. The growing focus on minimizing operational disruptions and improving maintenance strategies has contributed significantly to the expansion of the market.
𝐖𝐚𝐧𝐭 𝐭𝐨 𝐒𝐞𝐞 𝐭𝐡𝐞 𝐓𝐫𝐞𝐧𝐝𝐬? 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐓𝐨𝐝𝐚𝐲:https://www.stellarmr.com/report/req_sample/Machine-Condition-Monitoring-Market/1729
The following:
The machine condition monitoring market is driven by several key factors, including the increasing adoption of predictive maintenance strategies to minimize downtime and reduce maintenance costs. As industries move from reactive to predictive maintenance, the demand for machine condition monitoring systems has increased. Technological advances in sensors have also helped make monitoring solutions more accurate, cost-effective and accessible. Moreover, the increasing complexity of industrial machinery and the push for lean manufacturing and operational efficiency are key factors driving the growth of the market.
Register now:
One of the major trends in the machine condition monitoring market is the integration of IoT (Internet of Things) technology, which enables real-time data collection and analysis from machines across industries. The shift to online condition monitoring is gaining momentum, driven by the increasing need for remote monitoring and automated monitoring of industrial installations. Another trend is the rise of wireless monitoring solutions, which provide more flexibility and ease of installation. As more industries embrace automation and real-time data analytics, the demand for advanced machine condition monitoring systems is expected to grow rapidly.
𝐓𝐡𝐞 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬 𝐜𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:https://www.stellarmr.com/report/enquire_now/Machine-Condition-Monitoring-Market/1729
Log in 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐔𝐩𝐝𝐚𝐭𝐞𝐬
❤️
Vietnam’s machine condition monitoring market is expanding, driven by the country’s rapid industrialization and focus on modernizing manufacturing processes. Vietnam Industrial Solutions Ltd. worked with international companies to introduce real-time vibration and temperature monitoring systems for local industries. Government initiatives that promote smart manufacturing further stimulate growth.
𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝
Thailand is witnessing increasing adoption of condition monitoring solutions in the automotive and electronics sectors. Thai Automation Co. launched a cloud-based monitoring system in 2023, aimed at medium-sized enterprises. The government’s push for Industry 4.0 adoption is promoting market expansion.
𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐆𝐫𝐨𝐰𝐭𝐧 𝐉𝐚𝐩𝐚𝐧
Japan remains a leader in the machine condition monitoring market, driven by its advanced manufacturing base and strong emphasis on precision. Companies like Omron Corporation and Hitachi have introduced AI-based monitoring systems to improve operational efficiency. The country’s focus on achieving zero-downtime production is driving demand.
𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚
The condition monitoring market in South Korea is undergoing consolidation as major technology companies acquire specialist companies. Korea Automation Tech has acquired Seoul Predictive Systems, strengthening its position in the field of IoT-enabled condition monitoring. The increasing adoption of robotics in manufacturing is shaping market trends.
𝐔𝐩𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞
The Singapore condition monitoring market is developing with a focus on smart and integrated solutions. Singapore SmartTech Ltd. worked with European manufacturers to develop AI-driven condition monitoring systems for high-value industries. Government support for digital transformation initiatives drives growth.
𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬
The United States continues to lead the global machine condition monitoring market, supported by advanced industrial infrastructure and significant investments in R&D. Emerson Electric Co. and Honeywell launched wireless monitoring systems in 2023, targeting the oil and gas and manufacturing sectors. Federal incentives for industrial modernization are driving the market.
𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞
The European machine condition monitoring market is booming, driven by strict regulatory requirements and the increasing adoption of sustainable industrial practices. Companies like SKF and Siemens are pioneering IoT-based solutions for real-time condition monitoring. The European Union’s drive towards digitalization of the manufacturing sector is driving significant investments.
𝐊𝐞𝐲 𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬
Vietnam Industrial Solutions Ltd. worked with international companies to implement real-time monitoring systems in Vietnam.
Thai Automation Co. introduced a cloud-based monitoring system for medium-sized enterprises in Thailand.
Omron Corporation and Hitachi have launched AI-based condition monitoring solutions in Japan.
Korea Automation Tech has acquired Seoul Predictive Systems, consolidating its presence in the South Korean market.
Singapore SmartTech Ltd. worked with European manufacturers to introduce AI-powered systems in Singapore.
Emerson Electric Co. and Honeywell have unveiled wireless monitoring systems in the United States.
SKF and Siemens have expanded their IoT-based condition monitoring solutions in Europe.
𝐂𝐨𝐩𝐲 𝐨𝐟 @https://www.stellarmr.com/report/req_sample/Machine-Condition-Monitoring-Market/1729
Log in 𝐌𝐚𝐫𝐤𝐞𝐭:
By end use
Oil and gas industry
Chemical and petrochemical industry
Pulp and paper industry
Steel and metal industry
By monitoring type
Vibration monitoring
Thermography
Oil Analysis
Corrosion monitoring
By monitoring the process
Online condition monitoring
Portable condition monitoring
❤️ 𝐫𝐞𝐩𝐨𝐫𝐭 𝐯𝐢𝐬𝐢𝐭:https://www.stellarmr.com/report/Machine-Condition-Monitoring-Market/1729
❤️ ❤️ ❤️ 𝐌𝐚𝐫𝐤𝐞𝐭 𝐰𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞?
Emerson Electric Co.
Meggitt
General Electric,
Fluke
Goblin
Rockwell Automation Inc.
Parker USA
Analog Devices Inc.
Amphenol,
Allied reliability,
National Instruments Corp,
Honeywell
SKF AB
Schaeffler
Bruel & Kjaer Noise and vibration measurement
PCB Piezotronics, Inc.
Pruftechnik
SPM instrument AB
Testo SE & Co. KGaA
Yokogawa electric
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨int
♦ Market for car keyless entry systems https://www.stellarmr.com/report/Automotive-Keyless-Entry-System-Market/548
♦ Electric wall heating market https://www.stellarmr.com/report/Electric-Wall-Heater-Market/549
♦ Autonomous crane market https://www.stellarmr.com/report/Autonomous-Cranes-Market/751
♦ Outdoor heating market https://www.stellarmr.com/report/Outdoor-Heating-Market/786
♦ Common market for puppies https://www.stellarmr.com/report/Pup-Joint-Market/849
♦ General machine bearings market https://www.stellarmr.com/report/General-Machinery-Bearings-Market/1044
♦ CNC polishing machine market https://www.stellarmr.com/report/CNC-Polishing-Machine-Market/1046
♦ Green packaging market https://www.stellarmr.com/report/Green-Packaging-Market/513
:
S.no.8, h.no. 4-8 Pl.7/4, Kothrud,
Pinnac Memories Fl. No. 3, Kothrud, Pune,
Pune, Maharashtra, 411029
[email protected]
:
Stellar Market Research is a versatile market research and consultancy agency with professionals from various sectors. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology and communications, automotive and automotive, chemicals and substances, general merchandise, beverages, personal care and automated systems. To name a few, we provide market-verified industry estimates, technical trend analyses, crucial market research, strategic advice, competitive analyses, production and demand analyses, and customer impact studies.
This release was published on openPR.
