Machine Condition Monitoring Market

Industry Overview

The Global Machine Condition Monitoring Market is poised to experience significant growth, with an estimated rise from USD 2.8 billion in 2023 to USD 4.6 billion by 2030. This growth is projected to be driven by a robust compound annual growth rate (CAGR) of 7.2% during the forecast period from 2023 to 2030. Machine condition monitoring is the process of assessing and analyzing the condition of machines to predict mechanical wear and potential failures.

The expanding wireless communication in heating, ventilation, and air conditioning (HVAC) systems is expected to be a major contributor to the market's expansion. As the world's population continues to grow, there will be a heightened demand for HVAC systems, which in turn will necessitate monitoring the health of related equipment to ensure smooth system operation. This increased requirement for machine condition monitoring will fuel the market's growth.

Businesses must prioritize proper maintenance and rely on reliable equipment to position themselves for the anticipated surge in demand for goods and services. Implementing predictive maintenance techniques will enable them to recover quickly from failures and generate profits. Consequently, the machine condition monitoring market will be stimulated by the mounting digitalization and substantial growth in various industry verticals such as oil and gas, defense, manufacturing, automotive, aerospace, food and beverage, and marine industries.

The COVID-19 pandemic has moderately impacted the machine condition monitoring market owing to disruption in the supply chain and restrictions on the adoption of hardware components like sensors and detectors in various applications. Not all semiconductor companies, on the other hand, are seeing a slowdown in growth, since remote monitoring of production processes has allowed them to continue working even during lockdowns. The market for condition monitoring systems and solutions is expected to grow in the next years, with the market recovering during that time.

Market Segmentation

Insight by Offering

Based on offering, the global machine condition monitoring market is bifurcated into hardware and software. Hardware is further divided into Vibration Sensors (accelerometers, proximity probes, and tachometers), infrared sensors (thermal infrared sensors and quantum infrared sensors), spectrometers (infrared spectrometers, ultraviolet spectrometers, atomic spectrometers, and mass spectrometers), ultrasound detectors (sound pressure meters, stethoscopes, and ultrasonic leak detectors), spectrum analyzers (swept spectrum analyzers and real-time spectrum analyzers), corrosion probes, and others. software is further divided into data integration, diagnostic reporting, order tracking analysis, and parameter calculation. The hardware segment dominates the market owing to the rising demand for hardware parts like vibration sensors and analyzers, ultrasound detectors, corrosion probes, spectrum analyzers, etc. that play an important role in condition monitoring systems and provide information related to machine conditions in advance. This information can be used to drive maintenance programs for machine and prevents expensive downtime.

Insight by Monitoring Techniques

Based on monitoring techniques, the global machine condition monitoring market is segregated into vibration monitoring, thermography, oil analysis, corrosion monitoring, ultrasound emission, and motor current analysis. Thermography dominates the market as it is extensively deployed in several industry verticals like military, medical, electrical, or mechanical engineering, process monitoring, energy evaluations, etc.

Insight by Deployment Type

Based on deployment type, the global machine condition monitoring market is bifurcated into on-premises and cloud. The cloud-based monitoring segment is anticipated to have substantial growth as it offers 24/7 service, enhances scalability and speed, and improves IT security. Also, the increased adoption of software as a service (SaaS) applications by enterprises will propel the growth of the market.

Insight by Monitoring Process

Based on the monitoring process, the global machine condition monitoring market is bifurcated into online condition monitoring and portable condition monitoring. Online condition monitoring contributes the largest share of the market as it provides real-time plant data to operators and works in industries where 24-hour production is needed.

Insight by Industry

Based on industry, global machine condition monitoring is segmented into oil & gas, power generation, metals & mining, chemicals, automotive, aerospace & defense, food & beverages, marine, and others. Oil & gas is anticipated to hold the largest share in the market owing to the variation in prices, there is a need to minimize operational costs and reduce the possibility of machine downtime in oil & gas plants. There is a need to implement condition monitoring systems and solutions in order to keep critical assets operating efficiently and prevent downtime. Furthermore, the growing need for online condition-monitoring solutions is likely to propel the machine condition-monitoring market in the oil and gas industry even further.

Global Machine Condition Monitoring Market Report Coverage

Industry Dynamics

Industry Trends

Machine condition monitoring market expansion would be fueled by the adoption of machine learning, big data analytics, and a parallel processing framework. Because of its ability to process large amounts of data, big data analytics has boosted the analysis of data supplied by condition monitoring systems. Machine learning enables simple machine performance benchmarking, data transparency, and efficient collaboration among multiple condition monitoring system operations. Companies can minimize their overall cost of ownership of assets and run their businesses more efficiently with big data-enabled condition monitoring. These trends will anticipate propelling the machine condition monitoring market.

Growth Drivers

The machine condition monitoring market is experiencing significant growth due to various factors. These factors include the increased prominence of remote operations caused by the global COVID-19 pandemic, the development of secure cloud computing platforms for machine condition monitoring, the utilization of wireless communication technology, the adoption of predictive maintenance in industrial machinery, and the implementation of automated condition monitoring technologies in smart factories. These factors have collectively contributed to the market's growth.

One of the key drivers of this growth is the increasing demand for vibration monitoring systems. These systems are utilized to measure oscillations in components such as belts, gears, bearings, drive motors, and other elements. As infrastructure development continues, the need for vibration monitoring systems is also expanding, further fueling the growth of the machine condition monitoring market.

Machine condition monitoring offers numerous advantages. Firstly, it ensures safety by detecting potential issues and preventing failures. Secondly, it helps in reducing maintenance costs by enabling proactive maintenance instead of reactive repairs. Additionally, it increases operational efficiency by identifying inefficiencies and optimizing machine performance. Moreover, machine condition monitoring enhances machine reliability and availability, thereby minimizing downtime. Lastly, it extends the machine's lifespan by identifying maintenance needs and eliminating the chances of critical failures.

So, The machine condition monitoring market is witnessing substantial growth due to factors like the increasing prominence of remote operations, secure cloud computing platforms, wireless communication technology, predictive maintenance adoption, and automated condition monitoring technologies. The market is further driven by the growing demand for vibration monitoring systems and the various advantages provided by machine condition monitoring, including safety assurance, cost reduction, operational efficiency improvement, enhanced reliability and availability, and prolonged machine lifespan.

Challenges

The challenges faced by industry players include increased short-term investment required, lack of skilled resources for data analysis, mounting reliability issues about predicting the capabilities of machine condition monitoring technology, accessibility of automated and clod solutions for machine condition monitoring in remote areas is tough, and equipment required for condition monitoring is expensive. Furthermore, depending on the environment, condition monitoring sensors may not survive, therefore machine maintenance times are uncertain. This factor is posing a threat to the market's expansion.

Opportunities

Within the projected period, technological advancements such as low-cost improved machine condition monitoring systems, process, and rapid processing functionalities are expected to generate new opportunities for market growth.

Geographic Overview

North America dominates the machine condition monitoring market owing to the presence of many industrial sectors in the US, Mexico, and Canada. Furthermore, the US has well-established and emerging machine condition monitoring solution providers, stringent quality control in the chemicals, oil & gas, food & beverage industry will accelerate the growth in the region. However, because monitoring hardware has a longer lifespan, demand for it is confined to new manufacturing operations. This is likely to slow the region's machine condition monitoring market's year-on-year growth.

Competitive Insight

The industry players are entering into organic and inorganic strategies like a product launch, R&D activities, acquisitions to sustain themselves in the machine condition monitoring market.  The manufacturers are increasing their productivity with high efficiency and are emphasizing evaluating the health and operability of each asset.

Emerson's condition monitoring systems are tailored to the application and criticality of machines, provide reliable data for accurate machinery diagnosis. The condition monitoring solution offered includes Route-Based Vibration Analyzers, Wireless IIoT Solutions, Online Condition Monitoring, Integrated Condition Monitoring for Power and Water Applications, Machinery Protection with Embedded Prediction, and Machinery Health for Power Industry.

As part of a digital transformation, Industrial Internet of Things (IoT), or Industry 4.0 program, NI technology for machine health monitoring helps plant engineers connect data from critical equipment to subject matter experts for machine vibration analysis and connects that same data to IT systems. As one rolls out modern predictive maintenance and process optimization initiatives, NI asset condition monitoring systems are open, flexible, and help adapt to plant-specific needs.

In February 2021, SKF has expanded its tachometer line, which can aid industrial organizations in optimizing condition monitoring in their operations.  Three new devices have been added to SKF's basic condition monitoring equipment lineup, including an all-mechanical variant. The handheld gadgets track variables like rotational and linear speed to assist maintenance personnel in detecting mechanical issues in rotating machinery.

In October 2021, Honeywell has announced the availability of two new Bluetooth-connected gas detectors that can provide continuous monitoring for dangerous gases in fog, rain, snow, and other weather conditions, ensuring the safety of workers and industrial sites in the oil and gas, petrochemical, chemical, and other industries. The new Honeywell Searchline ExcelTM Plus and Searchline ExcelTM Edge are the latest generations of open path gas detectors that use sophisticated optics and high-powered infrared technology to stay online in low-visibility weather and at greater distances than before. The new gas detectors also include Bluetooth connectivity, which allows plant employees to perform device maintenance and calibration more quickly and easily.

Some of the major players operating in the machine condition monitoring market include Emerson Electric Co., General Electric, Honeywell International Inc., NATIONAL INSTRUMENTS CORP, SKF AB, ALS Limited, Rockwell Automation, Inc., Schaeffler AG, PARKER HANNIFIN CORP, and Meggitt PLC.

The Machine Condition Monitoring Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.

Segments Covered in the Report

• By Offering 
  • Hardware
    • Vibration Sensors
    • Infrared Sensors
    • Spectrometers
    • Ultrasound Detectors
    • Spectrum Analyzers
    • Corrosion Probes
    • Others
  • Software
    • Data Integration
    • Diagnostic Reporting
    • Order Tracking Analysis
    • Parameter Calculation
• By Monitoring Techniques 
  • Vibration Monitoring
  • Thermography
  • Oil Analysis
  • Corrosion Monitoring
  • Ultrasound Emission
  • Motor Current Analysis
• By Deployment Type 
  • On-Premises
  • Cloud  
• By Monitoring Process 
  • Online Condition Monitoring
  • Portable Condition Monitoring  
• By Industry 
  • Oil & Gas
  • Power Generation
  • Metals & Mining
  • Chemicals
  • Automotive
  • Aerospace & Defense
  • Food & Beverages
  • Marine
  • Others

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

1.    Research Overview

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Offering
                1.2.2.    By Monitoring Technique
                1.2.3.    By Deployment Type
                1.2.4.    By Monitoring Process
                1.2.5.    By Industry
                1.2.6.    By Region
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Market Methodology
                1.5.1.    Data Sources
                        1.5.1.1. Primary Research
                        1.5.1.2. Secondary Research
                1.5.2.    Methodology
                        1.5.2.1. Data Exploration
                        1.5.2.2. Forecast Parameters
                        1.5.2.3. Data Validation
                        1.5.2.4. Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis
                3.3.3.    Market Share Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

        5.1.    By Offering
                5.1.1.    Hardware
                        5.1.1.1. Market Definition
                        5.1.1.2. Market Estimation and Forecast to 2030 
                                5.1.1.2.1. Vibration Sensors
                                5.1.1.2.2. Infrared Sensors
                                5.1.1.2.3. Spectrometers
                                5.1.1.2.4. Ultrasound Detectors
                                5.1.1.2.5. Spectrum Analyzers
                                5.1.1.2.6. Corrosion Probes
                                5.1.1.2.7. Others
                5.1.2.    Software
                        5.1.2.1. Market Definition
                        5.1.2.2. Market Estimation and Forecast to 2030
                                5.1.2.2.1. Data Integration
                                5.1.2.2.2. Diagnostic Reporting
                                5.1.2.2.3. Order Tracking Analysis
                                5.1.2.2.4. Parameter Calculation
        5.2.    By Monitoring Technique
                5.2.1.    Vibration Monitoring
                        5.2.1.1. Market Definition
                        5.2.1.2. Market Estimation and Forecast to 2030
                5.2.2.    Thermography
                        5.2.2.1. Market Definition
                        5.2.2.2. Market Estimation and Forecast to 2030
                5.2.3.    Oil Analysis
                        5.2.3.1. Market Definition
                        5.2.3.2. Market Estimation and Forecast to 2030
                5.2.4.    Corrosion Monitoring
                        5.2.4.1. Market Definition
                        5.2.4.2. Market Estimation and Forecast to 2030
                5.2.5.    Ultrasound Emission
                        5.2.5.1. Market Definition
                        5.2.5.2. Market Estimation and Forecast to 2030
                5.2.6.    Motor Current Analysis
                        5.2.6.1. Market Definition
                        5.2.6.2. Market Estimation and Forecast to 2030
        5.3.    By Deployment Type   
                5.3.1.    On-Premises 
                        5.3.1.1. Market Definition
                        5.3.1.2. Market Estimation and Forecast to 2030
                5.3.2.    Cloud
                        5.3.2.1. Market Definition
                        5.3.2.2. Market Estimation and Forecast to 2030
        5.4.    By Monitoring Process
                5.4.1.    Online Condition Monitoring
                        5.4.1.1. Market Definition
                        5.4.1.2. Market Estimation and Forecast to 2030
                5.4.2.    Portable Condition Monitoring
                        5.4.2.1. Market Definition
                        5.4.2.2. Market Estimation and Forecast to 2030
        5.5.    By Industry
                5.5.1.    Oil & Gas
                        5.5.1.1. Market Definition
                        5.5.1.2. Market Estimation and Forecast to 2030
                5.5.2.    Power Generation
                        5.5.2.1. Market Definition
                        5.5.2.2. Market Estimation and Forecast to 2030        
                5.5.3.    Metals & Mining
                        5.5.3.1. Market Definition
                        5.5.3.2. Market Estimation and Forecast to 2030
                5.5.4.    Chemicals
                        5.5.4.1. Market Definition
                        5.5.4.2. Market Estimation and Forecast to 2030
                5.5.5.    Automotive
                        5.5.5.1. Market Definition
                        5.5.5.2. Market Estimation and Forecast to 2030
                5.5.6.    Aerospace & Defense
                        5.5.6.1. Market Definition
                        5.5.6.2. Market Estimation and Forecast to 2030
                5.5.7.    Food & Beverages
                        5.5.7.1. Market Definition
                        5.5.7.2. Market Estimation and Forecast to 2030
                5.5.8.    Marine
                        5.5.8.1. Market Definition
                        5.5.8.2. Market Estimation and Forecast to 2030
                5.5.9.    Others
                        5.5.9.1. Market Definition
                        5.5.9.2. Market Estimation and Forecast to 2030
    
6.    North America Market Estimate and Forecast

        6.1.    By Offering
        6.2.    By Monitoring Technique
        6.3.    By Deployment Type
        6.4.    By Monitoring Process
        6.5.    By Industry
        6.6.    By Country
                6.6.1.    U.S. Market Estimate and Forecast
                6.6.2.    Canada Market Estimate and Forecast
                6.6.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.    By Offering
        7.2.    By Monitoring Technique
        7.3.    By Deployment Type
        7.4.    By Monitoring Process
        7.5.    By Industry
        7.6.    By Country
                7.6.1.    Germany Market Estimate and Forecast
                7.6.2.    France Market Estimate and Forecast
                7.6.3.    U.K. Market Estimate and Forecast
                7.6.4.    Italy Market Estimate and Forecast
                7.6.5.    Spain Market Estimate and Forecast
                7.6.6.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Offering
        8.2.    By Monitoring Technique
        8.3.    By Deployment Type
        8.4.    By Monitoring Process
        8.5.    By Industry
        8.6.    By Country
                8.6.1.    China Market Estimate and Forecast
                8.6.2.    Japan Market Estimate and Forecast
                8.6.3.    India Market Estimate and Forecast
                8.6.4.    South Korea Market Estimate and Forecast
                8.6.5.    Singapore Market Estimate and Forecast
                8.6.6.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Offering
        9.2.    By Monitoring Technique
        9.3.    By Deployment Type
        9.4.    By Monitoring Process
        9.5.    By Industry
        9.6.    By Country
                9.6.1.    Brazil Market Estimate and Forecast
                9.6.2.    Saudi Arabia Market Estimate and Forecast
                9.6.3.    South Africa Market Estimate and Forecast
                9.6.4.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.    Emerson Electric Co.
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.    General Electric
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    Honeywell International Inc.
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    NATIONAL INSTRUMENTS CORP
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.    SKF AB
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    ALS Limited
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    Rockwell Automation, Inc.
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.    Schaeffler AG
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    PARKER HANNIFIN CORP
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10. Meggitt PLC
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments

11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Machine Condition Monitoring Market Size, By Offering, 2018 - 2023 (USD Billion)
Table 5 Global Machine Condition Monitoring Market Size, By Offering, 2025 - 2030 (USD Billion)
Table 6 Global Machine Condition Monitoring Market Size, By Monitoring Technique, 2018 - 2023 (USD Billion)
Table 7 Global Machine Condition Monitoring Market Size, By Monitoring Technique, 2025 - 2030 (USD Billion)
Table 8 Global Machine Condition Monitoring Market Size, By Deployment Type, 2018 - 2023 (USD Billion)
Table 9 Global Machine Condition Monitoring Market Size, By Deployment Type, 2025 - 2030 (USD Billion)
Table 10 Global Machine Condition Monitoring Market Size, By Monitoring Process, 2018 - 2023 (USD Billion)
Table 11 Global Machine Condition Monitoring Market Size, By Monitoring Process, 2025 - 2030 (USD Billion)
Table 12 Global Machine Condition Monitoring Market Size, By Industry, 2018 - 2023 (USD Billion)
Table 13 Global Machine Condition Monitoring Market Size, By Industry, 2025 - 2030 (USD Billion)
Table 14 Global Machine Condition Monitoring Market Size, by Region, 2018 - 2023 (USD Billion)
Table 15 Global Machine Condition Monitoring Market Size, by Region, 2025 - 2030 (USD Billion)
Table 16 North America Machine Condition Monitoring Market Size, By Offering, 2018 - 2023 (USD Billion)
Table 17 North America Machine Condition Monitoring Market Size, By Offering, 2025 - 2030 (USD Billion)
Table 18 North America Machine Condition Monitoring Market Size, By Monitoring Technique, 2018 - 2023 (USD Billion)
Table 19 North America Machine Condition Monitoring Market Size, By Monitoring Technique, 2025 - 2030 (USD Billion)
Table 20 North America Machine Condition Monitoring Market Size, By Deployment Type, 2018 - 2023 (USD Billion)
Table 21 North America Machine Condition Monitoring Market Size, By Deployment Type, 2025 - 2030 (USD Billion)
Table 22 North America Machine Condition Monitoring Market Size, By Monitoring Process, 2018 - 2023 (USD Billion)
Table 23 North America Machine Condition Monitoring Market Size, By Monitoring Process, 2025 - 2030 (USD Billion)
Table 24 North America Machine Condition Monitoring Market Size, By Industry, 2018 - 2023 (USD Billion)
Table 25 North America Machine Condition Monitoring Market Size, By Industry, 2025 - 2030 (USD Billion)
Table 26 North America Machine Condition Monitoring Market Size, by Region, 2018 - 2023 (USD Billion)
Table 27 North America Machine Condition Monitoring Market Size, by Region, 2025 - 2030 (USD Billion)
Table 28 Europe Machine Condition Monitoring Market Size, By Offering, 2018 - 2023 (USD Billion)
Table 29 Europe Machine Condition Monitoring Market Size, By Offering, 2025 - 2030 (USD Billion)
Table 30 Europe Machine Condition Monitoring Market Size, By Monitoring Technique, 2018 - 2023 (USD Billion)
Table 31 Europe Machine Condition Monitoring Market Size, By Monitoring Technique, 2025 - 2030 (USD Billion)
Table 32 Europe Machine Condition Monitoring Market Size, By Deployment Type, 2018 - 2023 (USD Billion)
Table 33 Europe Machine Condition Monitoring Market Size, By Deployment Type, 2025 - 2030 (USD Billion)
Table 34 Europe Machine Condition Monitoring Market Size, By Monitoring Process, 2018 - 2023 (USD Billion)
Table 35 Europe Machine Condition Monitoring Market Size, By Monitoring Process, 2025 - 2030 (USD Billion)
Table 36 Europe Machine Condition Monitoring Market Size, By Industry, 2018 - 2023 (USD Billion)
Table 37 Europe Machine Condition Monitoring Market Size, By Industry, 2025 - 2030 (USD Billion)
Table 38 Europe Machine Condition Monitoring Market Size, by Region, 2018 - 2023 (USD Billion)
Table 39 Europe Machine Condition Monitoring Market Size, by Region, 2025 - 2030 (USD Billion)
Table 40 Asia-Pacific Machine Condition Monitoring Market Size, By Offering, 2018 - 2023 (USD Billion)
Table 41 Asia-Pacific Machine Condition Monitoring Market Size, By Offering, 2025 - 2030 (USD Billion)
Table 42 Asia-Pacific Machine Condition Monitoring Market Size, By Monitoring Technique, 2018 - 2023 (USD Billion)
Table 43 Asia-Pacific Machine Condition Monitoring Market Size, By Monitoring Technique, 2025 - 2030 (USD Billion)
Table 44 Asia-Pacific Machine Condition Monitoring Market Size, By Deployment Type, 2018 - 2023 (USD Billion)
Table 45 Asia-Pacific Machine Condition Monitoring Market Size, By Deployment Type, 2025 - 2030 (USD Billion)
Table 46 Asia-Pacific Machine Condition Monitoring Market Size, By Monitoring Process, 2018 - 2023 (USD Billion)
Table 47 Asia-Pacific Machine Condition Monitoring Market Size, By Monitoring Process, 2025 - 2030 (USD Billion)
Table 48 Asia-Pacific Machine Condition Monitoring Market Size, By Industry, 2018 - 2023 (USD Billion)
Table 49 Asia-Pacific Machine Condition Monitoring Market Size, By Industry, 2025 - 2030 (USD Billion)
Table 50 Asia-Pacific Machine Condition Monitoring Market Size, by Region, 2018 - 2023 (USD Billion)
Table 51 Asia-Pacific Machine Condition Monitoring Market Size, by Region, 2025 - 2030 (USD Billion)
Table 52 RoW Machine Condition Monitoring Market Size, By Offering, 2018 - 2023 (USD Billion)
Table 53 RoW Machine Condition Monitoring Market Size, By Offering, 2025 - 2030 (USD Billion)
Table 54 RoW Machine Condition Monitoring Market Size, By Monitoring Technique, 2018 - 2023 (USD Billion)
Table 55 RoW Machine Condition Monitoring Market Size, By Monitoring Technique, 2025 - 2030 (USD Billion)
Table 56 RoW Machine Condition Monitoring Market Size, By Deployment Type, 2018 - 2023 (USD Billion)
Table 57 RoW Machine Condition Monitoring Market Size, By Deployment Type, 2025 - 2030 (USD Billion)
Table 58 RoW Machine Condition Monitoring Market Size, By Monitoring Process, 2018 - 2023 (USD Billion)
Table 59 RoW Machine Condition Monitoring Market Size, By Monitoring Process, 2025 - 2030 (USD Billion)
Table 60 RoW Machine Condition Monitoring Market Size, By Industry, 2018 - 2023 (USD Billion)
Table 61 RoW Machine Condition Monitoring Market Size, By Industry, 2025 - 2030 (USD Billion)
Table 62 RoW Machine Condition Monitoring Market Size, by Region, 2018 - 2023 (USD Billion)
Table 63 RoW Machine Condition Monitoring Market Size, by Region, 2025 - 2030 (USD Billion)
Table 64 Snapshot – Emerson Electric Co.
Table 65 Snapshot – General Electric
Table 66 Snapshot – Honeywell International Inc.
Table 67 Snapshot – NATIONAL INSTRUMENTS CORP
Table 68 Snapshot – SKF AB
Table 69 Snapshot – ALS Limited
Table 70 Snapshot – Rockwell Automation, Inc.
Table 71 Snapshot – Schaeffler AG
Table 72 Snapshot – PARKER HANNIFIN CORP
Table 73 Snapshot – Meggitt PLC

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Machine Condition Monitoring Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Machine Condition Monitoring Market Highlight
Figure 12 Global Machine Condition Monitoring Market Size, By Offering, 2018 - 2030 (USD Billion)
Figure 13 Global Machine Condition Monitoring Market Size, By Monitoring Technique, 2018 - 2030 (USD Billion)
Figure 14 Global Machine Condition Monitoring Market Size, By Deployment Type, 2018 - 2030 (USD Billion)
Figure 15 Global Machine Condition Monitoring Market Size, By Monitoring Process, 2018 - 2030 (USD Billion)
Figure 16 Global Machine Condition Monitoring Market Size, By Industry, 2018 - 2030 (USD Billion)
Figure 17 Global Machine Condition Monitoring Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 18 North America Machine Condition Monitoring Market Highlight
Figure 19 North America Machine Condition Monitoring Market Size, By Offering, 2018 - 2030 (USD Billion)
Figure 20 North America Machine Condition Monitoring Market Size, By Monitoring Technique, 2018 - 2030 (USD Billion)
Figure 21 North America Machine Condition Monitoring Market Size, By Deployment Type, 2018 - 2030 (USD Billion)
Figure 22 North America Machine Condition Monitoring Market Size, By Monitoring Process, 2018 - 2030 (USD Billion)
Figure 23 North America Machine Condition Monitoring Market Size, By Industry, 2018 - 2030 (USD Billion)
Figure 24 North America Machine Condition Monitoring Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 25 Europe Machine Condition Monitoring Market Highlight
Figure 26 Europe Machine Condition Monitoring Market Size, By Offering, 2018 - 2030 (USD Billion)
Figure 27 Europe Machine Condition Monitoring Market Size, By Monitoring Technique, 2018 - 2030 (USD Billion)
Figure 28 Europe Machine Condition Monitoring Market Size, By Deployment Type, 2018 - 2030 (USD Billion)
Figure 29 Europe Machine Condition Monitoring Market Size, By Monitoring Process, 2018 - 2030 (USD Billion)
Figure 30 Europe Machine Condition Monitoring Market Size, By Industry, 2018 - 2030 (USD Billion)
Figure 31 Europe Machine Condition Monitoring Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 34 Asia-Pacific Machine Condition Monitoring Market Highlight
Figure 35 Asia-Pacific Machine Condition Monitoring Market Size, By Offering, 2018 - 2030 (USD Billion)
Figure 36 Asia-Pacific Machine Condition Monitoring Market Size, By Monitoring Technique, 2018 - 2030 (USD Billion)
Figure 37 Asia-Pacific Machine Condition Monitoring Market Size, By Deployment Type, 2018 - 2030 (USD Billion)
Figure 38 Asia-Pacific Machine Condition Monitoring Market Size, By Monitoring Process, 2018 - 2030 (USD Billion)
Figure 39 Asia-Pacific Machine Condition Monitoring Market Size, By Industry, 2018 - 2030 (USD Billion)
Figure 40 Asia-Pacific Machine Condition Monitoring Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 41 RoW Machine Condition Monitoring Market Highlight
Figure 42 RoW Machine Condition Monitoring Market Size, By Offering, 2018 - 2030 (USD Billion)
Figure 43 RoW Machine Condition Monitoring Market Size, By Monitoring Technique, 2018 - 2030 (USD Billion)
Figure 44 RoW Machine Condition Monitoring Market Size, By Deployment Type, 2018 - 2030 (USD Billion)
Figure 45 RoW Machine Condition Monitoring Market Size, By Monitoring Process, 2018 - 2030 (USD Billion)
Figure 46 RoW Machine Condition Monitoring Market Size, By Industry, 2018 - 2030 (USD Billion)
Figure 47 RoW Machine Condition Monitoring Market Size, by Region, 2018 - 2030 (USD Billion)