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Machine Condition Monitoring Market Development Projects Steady CAGR of 7.5 Percent by 2030

01-22-2025 02:43 AM CET | Media & Telecommunications

Press release from: STELLAR MARKET RESEARCH

Machine Condition Monitoring Market

Machine Condition Monitoring Market

The ๐Œ๐š๐œ๐ก๐ข๐ง๐ž ๐‚๐จ๐ง๐๐ข๐ญ๐ข๐จ๐ง ๐Œ๐จ๐ง๐ข๐ญ๐จ๐ซ๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ was valued at USD 2.8 billion in 2023 and is expected to grow at a CAGR of 7.5% from 2024 to 2030, reaching nearly USD 4.65 billion by 2030. This growth is driven by increasing industrialization, the need for predictive maintenance, and the demand for optimized equipment performance across various sectors.

๐Œ๐š๐œ๐ก๐ข๐ง๐ž ๐‚๐จ๐ง๐๐ข๐ญ๐ข๐จ๐ง ๐Œ๐จ๐ง๐ข๐ญ๐จ๐ซ๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ:

Machine condition monitoring refers to the practice of monitoring and tracking the health of machinery and equipment in various industries such as oil and gas, automotive, aerospace, and power generation. Through the use of sensors and advanced technologies like vibration analysis, thermography, and oil analysis, businesses can detect early signs of wear and potential failures. This proactive maintenance helps to reduce downtime, extend equipment lifespan, and optimize overall productivity. The growing focus on minimizing operational disruptions and improving maintenance strategies has significantly contributed to the market's expansion.

๐–๐š๐ง๐ญ ๐ญ๐จ ๐’๐ž๐ž ๐ญ๐ก๐ž ๐“๐ซ๐ž๐ง๐๐ฌ? ๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐…๐ซ๐ž๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐“๐จ๐๐š๐ฒ:https://www.stellarmr.com/report/req_sample/Machine-Condition-Monitoring-Market/1729 ๏ปฟ

๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐Œ๐š๐œ๐ก๐ข๐ง๐ž ๐‚๐จ๐ง๐๐ข๐ญ๐ข๐จ๐ง ๐Œ๐จ๐ง๐ข๐ญ๐จ๐ซ๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ:

The Machine Condition Monitoring Market is being driven by several key factors, including the growing adoption of predictive maintenance strategies to minimize downtime and reduce maintenance costs. As industries move away from reactive to predictive maintenance, the demand for machine condition monitoring systems has increased. Technological advancements in sensors have also contributed by making monitoring solutions more accurate, cost-effective, and accessible. Additionally, the increasing complexity of industrial machinery and the push for lean manufacturing and operational efficiency are major factors fueling the market's growth.

๐Œ๐š๐œ๐ก๐ข๐ง๐ž ๐‚๐จ๐ง๐๐ข๐ญ๐ข๐จ๐ง ๐Œ๐จ๐ง๐ข๐ญ๐จ๐ซ๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ:

One of the significant trends in the Machine Condition Monitoring Market is the integration of IoT (Internet of Things) technology, allowing for real-time data collection and analysis from machines across various industries. The shift towards online condition monitoring is gaining momentum, driven by the increasing need for remote supervision and automated monitoring of industrial plants. Another trend is the rise in wireless monitoring solutions, which provide greater flexibility and ease of installation. As more industries embrace automation and real-time data analytics, the demand for advanced machine condition monitoring systems is expected to grow rapidly.

๐“๐ก๐ž ๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐’๐ญ๐š๐ค๐ž๐ก๐จ๐ฅ๐๐ž๐ซ๐ฌ ๐œ๐š๐ง ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐Ÿ๐จ๐ซ ๐ญ๐ก๐ž ๐๐ฎ๐ซ๐œ๐ก๐š๐ฌ๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:https://www.stellarmr.com/report/enquire_now/Machine-Condition-Monitoring-Market/1729

๐Œ๐ž๐ซ๐ ๐ž๐ซ๐ฌ ๐š๐ง๐ ๐€๐œ๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐Œ๐š๐œ๐ก๐ข๐ง๐ž ๐‚๐จ๐ง๐๐ข๐ญ๐ข๐จ๐ง ๐Œ๐จ๐ง๐ข๐ญ๐จ๐ซ๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ: ๐†๐ฅ๐จ๐›๐š๐ฅ ๐”๐ฉ๐๐š๐ญ๐ž๐ฌ

๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ

Vietnam's machine condition monitoring market is expanding, driven by the country's rapid industrialization and focus on modernizing manufacturing processes. Vietnam Industrial Solutions Ltd. partnered with global firms to introduce real-time vibration and temperature monitoring systems for local industries. Government initiatives promoting smart manufacturing are further fueling growth.

๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐

Thailand is witnessing rising adoption of condition monitoring solutions in the automotive and electronics sectors. Thai Automation Co. launched a cloud-based monitoring system in 2023, catering to mid-sized enterprises. The government's push for Industry 4.0 adoption is fostering market expansion.

๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง

Japan remains a leader in the machine condition monitoring market, driven by its advanced manufacturing base and strong emphasis on precision. Companies like Omron Corporation and Hitachi have introduced AI-enabled monitoring systems to enhance operational efficiency. The country's focus on achieving zero-downtime manufacturing is boosting demand.

๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š

South Korea's condition monitoring market is undergoing consolidation as major technology companies acquire specialized firms. Korea Automation Tech acquired Seoul Predictive Systems, strengthening its position in IoT-enabled condition monitoring. The increasing adoption of robotics in manufacturing is shaping market trends.

๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž

Singapore's condition monitoring market is advancing with a focus on smart and integrated solutions. Singapore SmartTech Ltd. collaborated with European manufacturers to develop AI-driven condition monitoring systems for high-value industries. Government support for digital transformation initiatives is driving growth.

๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐ญ๐ก๐ž ๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ

The United States continues to lead the global machine condition monitoring market, supported by advanced industrial infrastructure and significant investments in R&D. Emerson Electric Co. and Honeywell launched wireless monitoring systems in 2023, targeting oil & gas and manufacturing sectors. Federal incentives for industrial modernization are propelling the market.

๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž

Europe's machine condition monitoring market is thriving, driven by stringent regulatory requirements and increasing adoption of sustainable industrial practices. Companies such as SKF and Siemens are pioneering IoT-based solutions for real-time condition monitoring. The European Union's push for digitalization in manufacturing is fostering significant investments.

๐Š๐ž๐ฒ ๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ

Vietnam Industrial Solutions Ltd. partnered with global firms to deploy real-time monitoring systems in Vietnam.
Thai Automation Co. introduced a cloud-based monitoring system for mid-sized enterprises in Thailand.
Omron Corporation and Hitachi launched AI-enabled condition monitoring solutions in Japan.
Korea Automation Tech acquired Seoul Predictive Systems, consolidating its South Korean market presence.
Singapore SmartTech Ltd. collaborated with European manufacturers to introduce AI-driven systems in Singapore.
Emerson Electric Co. and Honeywell unveiled wireless monitoring systems in the United States.
SKF and Siemens expanded their IoT-based condition monitoring solutions in Europe.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐…๐ฎ๐ฅ๐ฅ ๐๐ƒ๐… ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ @https://www.stellarmr.com/report/req_sample/Machine-Condition-Monitoring-Market/1729

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐Œ๐š๐œ๐ก๐ข๐ง๐ž ๐‚๐จ๐ง๐๐ข๐ญ๐ข๐จ๐ง ๐Œ๐จ๐ง๐ข๐ญ๐จ๐ซ๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ:

By End Use

Oil & Gas Industry
Chemical & Petrochemical Industry
Pulp & Paper Industry
Steel & Metal Industry

By Monitoring Type

Vibration Monitoring
Thermography
Oil Analysis
Corrosion Monitoring

By Monitoring Process

Online Condition Monitoring
Portable Condition Monitoring

๐…๐จ๐ซ ๐ฆ๐จ๐ซ๐ž ๐ข๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง ๐š๐›๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ฏ๐ข๐ฌ๐ข๐ญ:https://www.stellarmr.com/report/Machine-Condition-Monitoring-Market/1729

๐–๐ก๐จ ๐ข๐ฌ ๐ญ๐ก๐ž ๐ฅ๐š๐ซ๐ ๐ž๐ฌ๐ญ ๐ฆ๐š๐ง๐ฎ๐Ÿ๐š๐œ๐ญ๐ฎ๐ซ๐ž๐ซ๐ฌ ๐จ๐Ÿ ๐Œ๐š๐œ๐ก๐ข๐ง๐ž ๐‚๐จ๐ง๐๐ข๐ญ๐ข๐จ๐ง ๐Œ๐จ๐ง๐ข๐ญ๐จ๐ซ๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ฐ๐จ๐ซ๐ฅ๐๐ฐ๐ข๐๐ž?

Emerson Electric Co.
Meggitt
General Electric,
Fluke
Kobold
Rockwell Automation Inc.
Parker US
Analog Devices Inc.
Amphenol,
Allied Reliability,
National Instruments Corp,
Honeywell
SKF AB
Schaeffler
Bruel & Kjaer Sound & Vibration Measurement
PCB Piezotronics, Inc.
Pruftechnik
SPM Instrument AB
Testo SE & Co. KGaA
Yokogawa Electric

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐‘๐ž๐ฅ๐š๐ญ๐ž๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐›๐ฒ ๐’๐ญ๐ž๐ฅ๐ฅ๐š๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

โ™ฆ Automotive Keyless Entry System Market https://www.stellarmr.com/report/Automotive-Keyless-Entry-System-Market/548
โ™ฆ Electric Wall Heater Market https://www.stellarmr.com/report/Electric-Wall-Heater-Market/549
โ™ฆ Autonomous Cranes Market https://www.stellarmr.com/report/Autonomous-Cranes-Market/751
โ™ฆ Outdoor Heating Market https://www.stellarmr.com/report/Outdoor-Heating-Market/786
โ™ฆ Pup Joint Market https://www.stellarmr.com/report/Pup-Joint-Market/849
โ™ฆ General Machinery Bearings Market https://www.stellarmr.com/report/General-Machinery-Bearings-Market/1044
โ™ฆ CNC Polishing Machine Market https://www.stellarmr.com/report/CNC-Polishing-Machine-Market/1046
โ™ฆ Green Packaging Market https://www.stellarmr.com/report/Green-Packaging-Market/513

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐’๐ญ๐ž๐ฅ๐ฅ๐š๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

S.no.8, h.no. 4-8 Pl.7/4, Kothrud,
Pinnac Memories Fl. No. 3, Kothrud, Pune,
Pune, Maharashtra, 411029
sales@stellarmr.com

๐€๐›๐จ๐ฎ๐ญ ๐’๐ญ๐ž๐ฅ๐ฅ๐š๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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