Global Machine Condition Monitoring Market, By Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission Monitoring), By Offering (Hardware, Software), By Deployment, By Type (Vibration Analysis, Diagnostics), By Industry, By Monitoring Process, By End-User, By Component (Spectrometer, Ultrasound Detector)

Market Analysis: Global Machine Condition Monitoring Market
The global machine condition monitoring market is expected to reach USD 4.2 billion by 2025, from USD 2.4 billion in 2017, growing at a CAGR of 5.9% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2018 to 2025.

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Market Definition: Global Machine Condition Monitoring Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the machine condition monitoring market in the next 8 years. Machine condition monitoring is the process, which involves measuring certain condition of a machine, such as temperature, humidity, pressure and many more. Machine conditioning is used in the detection of any mechanical fault and failure of machine. Vibration, noise, and temperature measurements are the major indicators to determine the status of machine. Machine condition monitoring involves noise, temperature, and vibration measurements as the key indicators for any equipment. Failure in equipment leads to huge losses in terms of productivity, quality of goods, and capital spent on the purchasing of new equipment. Therefore, machine condition monitoring acts as a predictive maintenance measure for such equipment. Machine condition monitoring is used in various sectors such as automotive, aerospace and defence, marine, chemicals, oil and gas, metal and mining, energy and power, and others. Successful machine monitoring includes knowledge of what to listen for, and how to interpret that knowledge to use. Many advances have taken place in this field, for instance, in 2014 SKF launched new condition monitoring sensor suitable for hazardous environments. In 2017 SKF has launched software centre for condition monitoring in Sweden.

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Major Market Drivers:
• Cloud computing platform are more secured.
• Leaning towards predictive maintenance
• Automated condition monitoring technologies are promoted.
Restraints:
• Shortage of technical resources for data analysis
• Uncertainty in forecasting capabilities.

Market Segmentation: Global Machine Condition Monitoring Market
• The global machine condition monitoring market is segmented based on monitoring technique, offering, deployment, type, industry, end-user, component, application, and geographical segments.
• Based on monitoring technique, the global machine condition monitoring market is segmented into vibration monitoring, thermography, oil analysis, corrosion monitoring, and ultrasound emission monitoring, motor current analysis. The vibration monitoring segment is further sub segmented into defects detected by vibration monitoring. Thermography is further sub segmented into defects detected by thermography. Oil analysis segment is further sub segmented into defects detected by oil analysis. Corrosion monitoring segment is further sub segmented into defects detected by corrosion monitoring, ultrasound emission monitoring segment is further sub segmented into defects detected by ultrasound emission monitoring. Motor current analysis segment is further sub segmented into defects detected by motor current analysis.
• On the basis of offering, the global machine condition monitoring market is classified into hardware and software. The hardware is sub segmented into vibration sensors and analyzers, infrared sensors, spectrometers, ultrasound detectors, spectrum analyzers, corrosion probes and others. Software segment is further sub segmented into data integration, diagnostic reporting, order tracking, and parameter calculation. The vibration sensors and analyzers segment is further sub segmented into accelerometers, proximity probes, and tachometers. Infrared sensors segment is further sub segmented into thermal infrared sensors, quantum infrared sensors. Spectrometers segment is further sub segmented into infrared spectrometers, ultraviolet spectrometers, atomic spectrometers, and mass spectrometers. Ultrasound detectors segment is further sub segmented into sound pressure meters, stethoscopes, ultrasound leak detectors and spectrum. Analyzers segment is further sub segmented into swept spectrum analyzers, and real-time spectrum analyzers.
• On the basis of deployment type, the global machine condition market is segmented into on premise and cloud.
• On the basis of end-use industry, the global machine condition monitoring market is classified into food & beverages, commercial, energy & power, and others.
• On the basis of monitoring process, the global machine condition monitoring market is segmented into online condition monitoring and portable condition monitoring.
• On the basis of by industry, the global machine condition monitoring market is segmented into oil & gas , power generation , metals & mining , chemicals, automotive, aerospace & defence , food & beverages, marine, and others.
• On the basis of end user, the global machine condition monitoring market is segmented into power industry, oil and gas industry, pulp and paper industry, cement and metal industry, chemical and petrochemical industry, and automotive industry.
• On the basis of component, the global machine condition monitoring market is segmented into spectrometer, ultrasound detector, and others.
• On the basis of application, the global machine condition monitoring market is segmented into aerospace, defence, and others.
• Based on geography, the global machine condition monitoring market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.

Competitive Analysis: Global Machine Condition Monitoring Market
The global machine condition monitoring market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of machine condition monitoring market for global, Europe, North America, Asia Pacific and South America.

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