Motor Monitoring Market Will Generate Record Revenue by 2029

The global motor monitoring market is anticipated to grow at a CAGR of 7.6% during the forecast period. Predictive maintenance is a strategy for predicting when the equipment will break and replacing the component before it fails. This aids in the reduction of downtime and the extension of component life. The demand for motor monitoring is increasing as industries are adopting motor monitoring to protect their motors from failure. To cater to the demand the key players are providing motor motoring services to industries. For instance, in July 2020, ABB Group entered into a service agreement with Denka, a Japanese chemical giant. Under the agreement, the ABB Ability Smart Sensors are installed across three plants of Denka in Singapore. 

ABB manages equipment failure risk and conducts or advises on preventive maintenance and repairs using a reliability index and urgency level. If a motor develops a fault, it is repaired at an ABB workshop. If repair is not an option, ABB will replace the motor. ABB provides continuous monitoring of the operating and health parameters of process-critical motors, pumps, and bearings, to keep production running 24/7. The sensors gather data and bring new insight into the operating performance of the assets. The Smart Sensors can detect a higher-than-normal vibration in a motor on a feed roller. ABB's engineers, who monitor the motors, alerted the Denka maintenance team in this way predictive maintenance can protect the motor from failure. 

As part of the service agreement, Denka is embracing ABB's newest Smart Sensor for hazardous areas. The new high-performance sensor carries ATEX, IECEx, and NEC 500 certifications and features an extended battery life and a robust sealed-for-life design. It has an IP66/67 rating and can withstand high levels of vibration, corrosion, and physical impact.

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Market Coverage

The market number available for - 2021-2029
Base year- 2022
Forecast period- 2023-2029

Segment Covered- 

By Offerings
By Deployment
By End-Users

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape- including ABB Group, ALS Ltd., Eaton Corp., Emerson Electric Co., General Electric Co., Honeywell International, Inc., KCF Technologies, Inc., and others.

Motor Monitoring Market Report Segment

By Offerings

Hardware 
Software and Services
By Deployment 
Cloud-Based
On-Premises 

By End-Users 

Automotive
Oil and Gas
Power Generation
Metal and Mining
Others

A full Report of Motor Monitoring Market is Available @  https://www.omrglobal.com/industry-reports/motor-monitoring-market

Motor Monitoring Market Report Segment by Region   

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles 

ABB Group
ALS Ltd.
Eaton Corp.
Emerson Electric Co.
General Electric Co.
Honeywell International, Inc.
KCF Technologies, Inc.
Mitsubishi Electric Corp.
National Instruments Corp.
Parker Hannifin Corp
Rockwell Automation, Inc.
Schneider Electric SE
Siemens AG
SKF 
WEG Group

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More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
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