Press release
Motor Monitoring System Market Analysis By Manufacturers - General Electric (US), Emerson Electric (US), Rockwell Automation (US)
According to this study, over the next five years the Motor Monitoring System market will register a 6.8% CAGR in terms of revenue, the global market size will reach $ 2189.7 million by 2025, from $ 1680.1 million in 2019.
The major key players covered in this report: Banner Engineering (US), ABB (Switzerland), National Instruments (US), SKF (Sweden), Siemens (Germany), Honeywell (US), General Electric (US), Emerson Electric (US), Rockwell Automation (US), Qualitrol (US), Schneider Electric (France), Mitsubishi Electric (Japan), Advantech (Taiwan), Eaton (Ireland), WEG (Brazil), Dynapar (US), KCF Technologies (US), Phoenix Contact (Germany), T.F. Hudgins (US), and Koncar (Croatia).
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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North America is the major revenue-generating region in the global motor monitoring market. It is one of the most advanced regions with regard to the adoption of advanced technologies and infrastructure network. Constant advancements in the motor monitoring software, such as developments in cloud computing and security measures for cloud users, are expected to boost the growth of the market in North America. Asia pacific is also expected to rise in demand as this region has cheaper labor cost thus, key players from automotive industry outsource from this region.
This report segments the global Motor Monitoring System Market based on Types are:
Hardware, Software and Services.
Hardware was the most widely used type which takes up over 74% of the global revenue share.
Based on Application, the Global Motor Monitoring System Market is Segmented into:
Metals & Mining, Oil & Gas, Power Generation, Water & Wastewater, Food & Beverages, Chemicals & Pharmaceutical, Automotive, Aerospace & Defense, Others.
Oil & gas and power generation hold an important share in terms of applications, and account for more than 40% of the market share.
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In August 2018, the Electrification Products division of ABB announced its strategy of leveraging the ABB Ability Marketplace for the commercialization of the ABB Ability Electrical Distribution Control System through a software-as-a-service model, carrying the electrical distribution system for plants and buildings.
In July 2018, ABB Control Technologies division collaborated with Actemium with an aim to deliver leading automation solutions that are tailored for individual needs of customers.
In March 2017, GE Oil & Gas introduced TransPort PT900 Portable Ultrasonic Flow Meter, a clamp-on meter for liquid flow measurement. The design of TransPort was majorly derived from significant customer input and market research, ensuring an all-new transmitter and clamping fixture and app-driven user interface on an Android tablet.
Regions covered By Motor Monitoring System Market Report.
North America: United States, Canada, and Mexico.
Central and South America: Brazil and Argentina.
The Middle East and Africa: Saudi Arabia, and Turkey.
Europe: Germany, France, UK, Italy, Spain, and Russia.
Asia-Pacific: China, India, Japan, South Korea, Australia, Indonesia, and Singapore.
These segments are thoroughly evaluated on an individual basis and a team of analysts has ensured to give a crystal clear idea about various lucrative segments of the industry. This detailed analysis of segmentation help in offering precise results about the markets related to industry.
Significant Features that are under Offering and Key Highlights of the Reports:
- Detailed overview of Motor Monitoring System Market
- Changing Motor Monitoring System market dynamics of the industry
- In-depth market segmentation by Type, Application, etc.
- Historical, current and projected Motor Monitoring System market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Motor Monitoring System Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth.
The report has 150 tables and figures browse the report description and TOC:
https://www.marketinsightsreports.com/reports/01201782904/global-motor-monitoring-system-market-growth-status-and-outlook-2020-2025?source=openpr&mode=86
All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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