Global Equipment Monitoring Market (Monitoring Process, Monitoring, Vertical) Forecast 2018 – 2024

Global Equipment Monitoring Market

The market size is expected to reach $4.8 billion by 2024, rising at a market growth of 6.9% CAGR during the forecast period.

Published: July 2018 | 286 Pages | Format: PDF  | Download PDF

Global Equipment Monitoring Market Overview:

The Global Equipment Monitoring Market size is expected to reach $4.8 billion by 2024, rising at a market growth of 6.9% CAGR during the forecast period.

The growth of the market is driven due to advancements in wireless technology in equipment monitoring systems, reducing IoT component costs, leading to cost-effective implementation of equipment monitoring systems, and widespread adoption of equipment monitoring systems. Additionally, cloud-based solutions with real-time functionalities offering cost advantages, Industrial Internet of Things (IIoT), and rapid growth in the big data analytics are other factors that would provide tremendous market opportunities for the equipment monitoring market growth. On the other hand, lack of trained professionals in data analysis and unpredictable maintenance schedules would have a negative impact on the market growth during the forecast period.

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Segmental Analysis: Global Equipment Monitoring Market

Based on Monitoring Process, the market is segmented into

  • Online Equipment Monitoring
  • Portable Equipment Monitoring

Based on Monitoring Type, the market is segmented into

  • Vibration Monitoring
  • Thermal Monitoring market is expected to witness a CAGR of 6.6% during (2018 - 2024)
  • Noise Monitoring
  • Lubrication Monitoring
  • GPS Tracking
  • Corrosion Monitoring
  • Alarm Monitoring
  • Others

Based on Industry Vertical, the market is segmented into

  • Oil & Gas
  • Chemicals
  • Automotive
  • Aerospace & Defense
  • Food & Beverages
  • Power Generation market is expected to witness highest CAGR of 8.2% during (2018 - 2024)
  • Metals & Mining
  • Marine
  • Others

Based on Regions, the market is segmented into

  • North America (U.S, Canada, Mexico, Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, Rest of Asia Pacific)
  • Latin America, Middle East and Africa (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, Rest of LAMEA).

Global Equipment Monitoring Market Competition Analysis:

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., General Electric (GE), Honeywell International, Inc., National Instruments Corporation, Parker-Hannifin, Rockwell Automation, Siemens AG, Yokogawa Electric Corporation, SKF (Svenska Kullagerfabriken AB) and Pruftechnik Dieter Busch.

Related Reports:

North America Market

Europe Market

Asia Pacific Market

LAMEA Market

By Monitoring Process

  • Online Equipment Monitoring
  • Portable Equipment Monitoring

By Monitoring Type

  • Vibration Monitoring
  • Thermal Monitoring
  • Noise Monitoring
  • Lubrication Monitoring
  • GPS Tracking
  • Corrosion Monitoring
  • Alarm Monitoring
  • Others

By Industry Vertical

  • Oil & Gas
  • Chemicals
  • Automotive
  • Aerospace & Defense
  • Food & Beverages
  • Power Generation
  • Metals & Mining
  • Marine
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • Emerson Electric Co.
  • General Electric (GE)
  • Honeywell International, Inc.
  • National Instruments Corporation
  • Parker-Hannifin
  • Rockwell Automation
  • Siemens AG
  • Yokogawa Electric Corporation
  • SKF (Svenska Kullagerfabriken AB)
  • Pruftechnik Dieter Busch

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