Learn about the global machine condition monitoring market through The Business Research Company, which provides information on machine condition monitoring market size, machine condition monitoring market drivers and restraints, machine condition monitoring market players, the COVID-19 impact on the machine condition monitoring market, and more.

The global machine condition monitoring market size is expected to grow from $2.53 billion in 2021 to $2.71 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The global machine monitoring market size is expected to grow to $3.53 billion in 2026 at a CAGR of 6.9%.

The increase in demand for wireless communications is expected to drive the growth of the machine condition monitoring market.

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The machine condition monitoring market consists of sales of machine condition monitoring products and services by entities (organizations, sole traders, and partnerships) that are used to assess the health of a machine over some time. The machine condition monitoring is based on various measured conditions such as pressure, vibration, and temperature to monitor machinery parts during an operation. Machine condition monitoring includes accessing the machine’s efficiency, wear and tear output of defective parts, usage statistics, and maintenance statistics.

Global Machine Condition Monitoring Market Segments Include:
By Type: Hardware, Software, Services

By Deployment Type: On-Premises, Cloud

By Monitoring Technique: Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission, Motor Current Analysis

By Industry: Oil and Gas, Power Generation, Metals and Mining, Chemicals, Automotive, Aerospace and Defense, Food and Beverages, Marine

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the machine condition monitoring market in 2021.

Technological advancement is the key trend gaining popularity in the machine condition monitoring market.

TBRC’s machine condition monitoring market report covers:

Major Market Players: ALS Limited, Emerson Electric Co., Teledyne FLIR LLC, Baker Hughes Company, General Electric, Honeywell International Inc, Meggitt PLC, National Instruments Corp, PARKER HANNIFIN CORP, Rockwell Automation Inc., Schaeffler India Limited, SKF Condition Monitoring Inc., Symphony Industrial AI, Wilcoxon Sensing Technologies Inc., and Azima DLI Corporation.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Machine Condition Monitoring Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides machine condition monitoring market overviews, analyzes and forecasts market size, share, machine condition monitoring market players, machine condition monitoring market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s machine condition monitoring market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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