Global Machine Condition Monitoring Market Size and Overview

Machine condition monitoring is the process of monitoring a condition or parameter in a machinery for identifying a change that can develop into a fault. Machine condition monitoring is a significant aspect of predictive maintenance. It allows to take actions at the right time for avoiding the consequences beforehand.

The rising need for reducing the maintenance cost has fueled the machine condition monitoring market. Further, increasing use of wireless communication and rising inclination towards predictive maintenance has supplemented the adoption of machine control monitoring. However, lack of skilled resources has hampered the growth of the market. Advent of technologies such as Big Data analytics is opportunistic for the market.

The machine condition monitoring market is segmented based on monitoring technique, offering, deployment type, industry, and geography. Vibration monitoring, thermography, oil analysis, corrosion monitoring, ultrasound emission monitoring, and motor current analysis are analyzed in the segmentation by monitoring technique. Further, the machine condition monitoring market is segmented by offering into hardware, software and services. Based on deployment type, the market is sub-divided into on-premise and cloud. The industries analyzed are oil & gas, power generation, metals & mining, automotive, chemicals, aerospace & defense, food & beverages, marine, and others. Geographically, the machine condition monitoring market is sub-divided into North America, Europe, Asia-Pacific, and Rest of the world.

The key market players operating in the machine condition monitoring market include Emerson Electric, General Electric, Honeywell Inte
ational, National Instruments, ALS Ltd., Rockwell Automation, Fluke Corporation, Flir Systems, SPM Instrument, and Analog Devices among others.

MACHINE CONDITION MONITORING MARKET SEGMENTS

Market By Monitoring Technique

•    Vibration monitoring

•    Thermography

•    Oil analysis

•    Corrosion monitoring

•    Ultrasound emission monitoring

•    Motor current analysis

Market By Offering

•    Hardware

•    Software

•    Services

Market By Deployment Type

•    On-premise

•    Cloud

Market By Industry Vertical

•    Oil & gas

•    Power generation

•    Metals & mining

•    Automotive

•    Chemicals

•    Aerospace & defense

•    Food & beverages

•    Marine

•    Others

Market By Geography

•    North America

•    Europe

•    Asia Pacific

•    Rest of the world

KEY PLAYERS

•    Emerson Electric

•    General Electric

•    Honeywell Inte
ational

•    National Instruments

•    ALS Ltd.

•    Rockwell Automation

•    Fluke Corporation

•    Flir Systems

•    SPM Instrument

•    Analog Devices