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New report examines the machine condition monitoring market forecast to 2024

Industrial Market Research

The machine condition monitoring market comprises machine condition monitoring solution providers such as ALS Limited (Australia), Emerson Electric (US), General Electric (US), Honeywell (US), Meggitt (UK), National Instruments (US), Parker-Hannifin (US), Rockwell Automation (US), Schaeffler (Germany), SKF (Sweden), Azima DLI (US), Bruel & Kjaer (Denmark), and Fluke (US).

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Machine condition monitoring market is estimated to grow from USD 2.38 Billion in 2018 to USD 3.50 Billion by 2024, at a CAGR of 6.7% between 2018 and 2024. Growth of market is driven by development of a secure cloud computing platform, increased use of wireless communication technology for condition monitoring of equipment, and inclination of end users toward predictive maintenance.

Key Target Audience:

  • Asset management consultants that specialize in physical asset management
  • Associations and regulatory authorities related to plant maintenance
  • Government bodies, venture capitalists, and private equity firms
  • Manufacturers of components such as accelerometers, eddy current sensors, IR detectors, ultrasonic detectors, and other instruments used for machine condition monitoring
  • Maintenance personnel, manufacturers, and suppliers of machine condition monitoring solutions
  • Research institutes and organizations

Research report provides valuable insights on machine condition monitoring market, such as various monitoring techniques, hardware and software offerings, monitoring processes, and deployment types of machine condition monitoring.

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The market for cloud-based machine condition monitoring solutions is estimated to grow at a higher CAGR during the forecast period because it offers elasticity required for the data and computational resources significantly at a low cost. One of the major advantages of cloud-based solutions is that it helps enterprises to understand the real-time condition of their assets from a remote location.

Competitive Landscape

1 Overview

2 Market Ranking Analysis

3 Competitive Situations and Trends

4 Product Launches and Developments (2015–2017)

5 Contracts, Partnerships, and Agreements (2015–2017)

6 Mergers, Acquisitions, and Collaborations (2015–2017)

7 Expansions (2017)

In Machine Condition Monitoring Market report, various segments such as monitoring techniques, offerings, deployment types, monitoring processes, industries, & geographic region have been covered. It also discusses the drivers, restraints, opportunities, and challenges pertaining to the market.

The report gives a detailed view of the market across 4 main regions: North America, Europe, APAC, RoW.

Click Now for Discounted Copy of this Study “Machine Condition Monitoring Market by Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, MCA), Deployment (On Premise, Cloud), Monitoring Process (Online, Portable), Offering, Industry, and Region - Global Forecast to 2024” report @…ount?rname=212000 .

Reasons to Access the Report:

  • This report includes the machine condition monitoring market sizing in terms of value based on monitoring techniques, hardware and software offerings, deployment types, monitoring processes, industries, and geographic regions, along with respective countries.
  • The major drivers, restraints, opportunities, and challenges related to the machine condition monitoring market growth have been provided in detail in this report.
  • The report includes illustrative segmentation, analysis, and forecast for the machine condition monitoring market.

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