Machine Condition Monitoring System Market by Component (Hardware (Vibration Sensor & Analyzer, Infrared Sensor, Spectrum Analyzers, Ultrasound Detectors, Spectrometers, Corrosion Probes, and Others) and Software ), Deployment Type (Cloud and On-Premises), and Industry Vertical (Metals & Mining, Power Generation, Oil & Gas, Automotive, Food & Beverages, Chemicals, and Others) - Global Opportunity Analysis and Industry Forecast, 2020-2027
|
A04325
|
Pages: NA
|
Jul 2020 |
1414 Views
|
|
|
|
Author(s) :
NA
|
Tables: NA
|
Charts: NA
|
Formats*:
|
|
COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Machine Condition Monitoring System Market
Request Now !Machine condition monitoring system helps in predicting the mechanical wear and failure by monitoring the condition of machine such as temperature, humidity, pressure, and others. Furthermore, noise, temperature, and vibration measurements are major key indicators of the state of equipment. Failure of equipment leads to huge loss, which fuels the adoption of machine condition monitoring system among various industry verticals such as oil & gas, metal & mining, food & beverage, and automotive.
The global machine condition monitoring market is expected to register significant growth in the near future, due to technological advancement such as wireless technology and remote monitoring. These advancements enable industries to collect data and monitor the underlying equipment and processing of machine. In addition, remote monitoring provides real-time data to operator in the plant, and is the most preferred monitoring process in hazardous plants that work continuously and are highly prone to flaws. Moreover, it enables the operator to accurately collect data, further which can be communicated immediately to all the concerned authorities. Furthermore, the development of the wind energy market has contributed towards the growth of the machine condition monitoring system globally. However, lack of trained technical resources for data analysis is expected to restrain the market growth.
ALS Limited, Meggitt, National Instruments, Parker-Hannifin, Emerson Electric, General Electric, Honeywell, Rockwell Automation, Schaeffler, and Fluke are some of the key players operating in the global machine condition monitoring system market.
The scope of machine condition monitoring system is derived from different components. The report includes a micro-level study of different regions machine condition monitoring system for various applications. In addition, it discusses the potential opportunities for market players to enter the market. Moreover, it provides an in-depth market analysis of automotive filter outlining current trends, key driving factors, and potential areas for product investments.
Segment Overview
The global machine condition monitoring system market is segmented based on component, deployment type, industry vertical, and region. Depending on component, the market is divided into hardware and software. Hardware is further classified into vibration sensor & analyzer, infrared sensor, spectrum analyzers, ultrasound detectors, spectrometers, corrosion probes, and others. On the basis of deployment type, the market is bifurcated into cloud and on-premises. By industry vertical, it is fragmented into metals & mining, power generation, oil & gas, automotive, food & beverages, chemicals, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of deployment type, cloud-based monitoring is expected to exhibit a significant growth in the machine condition monitoring market during the forecast period. Cloud-based deployment benefits organizations by offering 24/7 service, increased scalability & speed, and enhanced IT security. Moreover, rise in adoption of software-as-a-service (SaaS) applications by enterprises boost the market growth.
Region wise, Asia-Pacific is expected to grow at a significant growth rate. This is attributed to the fact that emerging economics such as China and India are witnessing an upsurge in penetration of Internet of Things (IoT). Moreover, increase in adoption of technologies for smart manufacturing, and reduction in operational costs drives the demand for machine condition monitoring solutions in this region.
Top Impacting Factors
Technological advancement such as wireless technology & remote monitoring, transition from preventive to predictive maintenance across process industries, development of the wind energy market, unpredictable maintenance periods, and modification in old equipment are the significant factors that impact the growth of the global machine condition monitoring market. These factors are anticipated to either drive or hamper the market growth.
Driver
Growth of the Wind Energy Market
The growing wind energy market is one of the major drivers of machine condition monitoring market. In this market, wind turbines need to be operated as cheaply as possible to generate electricity at low cost. However, the maintenance costs of wind turbines are high owing to their remote location. Thus, this creates a demand for online machine monitoring system, as it is cost-effective as compared to portable diagnostic systems or route-based monitoring cost.
Key Benefits
This report studies the global machine condition monitoring system with current trends and future estimations to portray the imminent investment pockets.
The overall market potential is determined to understand the profitable trends to gain a strong foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the market.
Porters Five Forces analysis illustrates the potency of the buyers and suppliers in the industry.
Machine Condition Monitoring System Market Key Segments:
By Component
- Hardware
- Vibration Sensor & Analyzer
- Infrared Sensor
- Spectrum Analyzers
- Ultrasound Detectors
- Spectrometers
- Corrosion Probes
- Others
- Software
By Deployment Type
- Cloud
- On-premise
By Industry Vertical
- Metals & Mining
- Power Generation
- Oil & Gas
- Automotive
- Food & Beverages
- Chemicals
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players Profiled
- ALS Limited
- Meggitt
- National Instruments
- Parker-Hannifin
- Emerson Electric
- General Electric
- Honeywell
- Rockwell Automation
- Schaeffler
- Fluke
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
- Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through well audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of marketplace
With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develops analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth and forecasts
Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:
- Chief executives and VPs of leading corporations specific to industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)
Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
REQUEST TOC/SAMPLE
Purchase Full Report of
Machine Condition Monitoring System Market- Global Opportunity Analysis and Industry Forecast, 2020-2027
- Online Only
-
$3,456$3,110 - Online cloud access only
- Restricted print, copy, paste & download
- Read only
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
- Data Pack
-
$3,840$3,456 - Restricted to one authorized user
- One print only
- Available in
Excel - Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
- Single User
-
$5,769$5,192 - Restricted to one authorized user
- One print only
- Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
- Five Users
-
$6,450$5,805 - Limited to five authorized users
- Print upto five copies
- Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
-
Enterprise
License/PDF -
$8,995$8,096 - Unlimited
within
company/enterprise - Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
- Library Membership
- $0.00
- Published Content
E-access - Company Profiles
E-access - Newly Added Content Access
- 10 PDF
Downloads - 5 Excel Data
Pack Downloads - 250 Company Profiles PDF Downloads
-
Start reading.
Buy Now
This title and over 12,000+ are available on the Avenue Library. Subscription @ $699 T&C*.
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
Why Allied Market Research?
Infallible Methodology
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
Analyst Support
For complete satisfaction
Customization
On-demand customization of scope of the report to exactly meet your needs
TARGETED MARKET VIEW
Targeted market view to provide pertinent information and save time of readers
Get fresh content delivered
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.