Press release
CAGR of 8.1% | Global Machine Condition Monitoring Market to Reach around US$ 4,418.2 Mn by 2026
The global machine condition monitoring market was valued at US$ 2,212.3 Mn in 2017 and is anticipated to expand at a stable CAGR of 8.1% during the forecast period 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled ‘Machine condition monitoring Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’Browse Our Report @ https://www.transparencymarketresearch.com/machine-condition-monitoring-market.html
Advantages offered by machine condition monitoring, increased adoption of vibration sensors, increase in equipment performance and productivity, rise in the adoption of machine condition monitoring in the automotive industry, rise in online machine monitoring, and increase in equipment performance and productivity have increased the penetration and growth of the global machine condition monitoring market. The market in Asia Pacific is likely to expand at a rapid CAGR of 8.6% due to numerous technological innovations in equipment condition monitoring systems.
Rise in Demand for Online Monitoring to Drive Market Growth
Rise in predictive maintenance and need for accurate and time-efficient analyses of data have increased the demand for online machine condition monitoring globally. Manual collection of data can be performed only a limited number of times.
For More Details, Request A PDF Sample Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12170
On the other hand, online monitoring can collect large amounts of data at frequent points avoiding chances of human miscalculation in data collection. Numerous players from North America are continuously involved in acquisitions in order to offer advanced machine condition monitoring to people who need the information on machine conditions in a timely manner. In September 2018, Azima DLI, a provider of predictive machine condition monitoring and analysis services, launched ‘WATCHMAN,’ its portable online intensive care condition monitoring system that can be quickly deployed by personnel in machines. Key trends prevalent in the global machine condition monitoring market are integrated machine condition monitoring system, technological advancements, cloud technology, wireless condition monitoring, and strategic collaborations.
Increasing Adoption of Vibration Monitoring is Expected to Drive Growth of the Machine Condition Monitoring Market
In terms of type, the market has been divided into thermography, vibration monitoring, lubrication oil monitoring, acoustic emission monitoring, ultrasound monitoring, corrosion monitoring, current signature monitoring, and others. The vibration monitoring segment is anticipated to dominate the market due to rise in adoption of vibration sensors for assessing equipment condition. Vibration monitoring provides analysis of the overall vibrations of components or machinery in order to observe abnormalities that may indicate faults. Furthermore, potential advantages of machine condition monitoring such as improved efficiency, increased machine availability and reliability, extended operational life, reduced costs, and improved safety are driving the global machine condition monitoring market. The vibration monitoring segment is anticipated to expand at a significant CAGR of 8.6 % during the forecast period. The lubrication oil monitoring segment is projected to expand at a significant CAGR over the forecast period, owing to the increasing use of lubrication oil as it plays an important role in early machine failure detection.
Request For Custom Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=12170
ALS Limited, Brüel & Kjær Vibro GmbH, SKF, Emersion Electric Co and F. Honeywell International are Likely to Continue to Lead the Global Machine Condition Monitoring Market
The company profiling of key players in the global machine condition monitoring market includes company overview, major business strategies, SWOT analysis, and market revenues for years 2016 to 2018. The key players profiled in the global machine condition monitoring market report include ALS Limited, Brüel & Kjær Vibro GmbH, Emerson Electric Co., Fluke Corporation, General Electric, Honeywell International, Meggitt SA, National Instruments, Parker Hannifin Corp, PRÜFTECHNIK Dieter Busch AG, Rockwell Automation, Inc., and Schaeffler Technologies AG & Co. KG, SKF. Various players are introducing machine condition monitoring systems with cloud technology and establishing partnerships with other players to meet the continuously growing demand for accurate and reliable equipment condition monitoring.
Contact Us
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release CAGR of 8.1% | Global Machine Condition Monitoring Market to Reach around US$ 4,418.2 Mn by 2026 here
News-ID: 1875186 • Views: …
More Releases from TMR
Emerging Opportunities in Logistics Market with Current Trends Analysis
The global Logistics market is estimated to attain a valuation of US$ 15,273.21 Bn by the end of 2027, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.5% during the forecast period, 2019-2027.
The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the…
Energy Measurement IC Market is expected to reach US$ 8.39 Bn by the end of 2031
According to a Transparency Market Research (TMR) research report, the global energy measurement ic market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 8.39 Bn by the end of 2031.
The study on the energy measurement ic market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The…
STATCOM UPS Market to Register Double Digit Growth Rate of 16% CAGR by 2024
Over the last decade, rising number of industries and utilities are opting for static synchronous compensator or STATCOM UPS instead of static VAR compensator or SVC UPS. Low harmonic emission coupled with high speed of response is accentuating the expansion of India STATCOM UPS market now and in times to come. Playing a crucial role in voltage control and compensation of reactive power, STATCOM UPS is likely to keep its…
Thin Wafer Processing and Dicing Equipment Market US$692.5 mn by 2024 - TMR
Transparency Market Research (TMR) estimates that the global thin wafer processing and dicing equipment market has a highly consolidative landscape. Disco Corp. accounted for largest share of 56.4% in 2015 and likely to be dominant in the coming years. This is creating monopoly in the thin wafer processing and dicing equipment market in terms of competitive presence. The other key players such as EV Group, Plasma-Therm LLC, Lam Research Corp,…
More Releases for CAGR
Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.…
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn.
Predictive analytics is segmented into:
Risk management:…
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s…
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more…
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012…
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population.
ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and…
