Global Machine Condition Monitoring Market to Reach USD 4.9 Billion by 2033, Supported by Increasing Automation in Manufacturing Facilities

January 13, 2025 | Automotive Industry

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According to the latest report by IMARC Group, titled "Machine Condition Monitoring Market Report by Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission, Motor Current Analysis), Offering (Hardware, Software), Deployment Type (On-premises, Cloud-based), End Use Industry (Oil and Gas, Power Generation, Metals and Mining, Chemicals, Automotive, Aerospace and Defense, Food and Beverages, Marine, and Others), and Region 2025-2033," the global machine condition monitoring market reached a value of USD 3.0 Billion in 2024. Machine condition monitoring is the process of identifying potential faults and tracking the health and performance of a machine. It involves the measurement of various parameters like pressure, current, vibration, humidity, temperature, and revolutions per minute (RPM). Machine condition monitoring impacts the overall product quality and prevents potential damages by monitoring thermography, corrosion, ultrasound emissions, vibrations, oil and motor current analysis. It also enables accurate scheduling of maintenance programs and provides the required data for necessary diagnostics. Machine condition monitoring is commonly applied for anticipating conditions of pumps, electric motors, internal combustion engines (ICEs), and presses.

Global Machine Condition Monitoring Market Trends:

One of the key factors driving the market growth is the widespread employment of machine condition monitoring across various industries, such as food, manufacturing, packaging, robotics, and steelmaking. Moreover, these processes allow organizations to take necessary actions to reduce repair costs and increase overall productivity and profitability, which is escalating the demand for machine condition monitoring across the globe. Apart from this, technological advancements, such as cloud computing platforms, wireless communication, and the Internet of Things (IoT), are supporting the market growth further. Rapid expansion of the manufacturing industry, along with increasing awareness regarding the advantages of preventive machine maintenance amongst consumers is creating a positive outlook for the market further. Looking forward, the market is expected to reach USD 4.9 Billion by 2033, exhibiting a CAGR of 5.66% during 2025-2033.

Market Summary:

On the basis of the monitoring technique, the market has been divided into vibration monitoring, thermography, oil analysis, corrosion monitoring, ultrasound emission and motor current analysis.
Based on the offering, the market has been bifurcated into hardware and software.
On the basis of the deployment type, the market has been categorized into on-premises and cloud-based.
Based on the end use industry, the market has been divided into oil and gas, power generation, metals and mining, chemicals, automotive, aerospace and defense, food and beverages, marine, and others.
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players being Brüel & Kjær Vibro GmbH (Spectris Plc), Emerson Electric Co., Flir Systems. Inc., Fluke Corporation (Fortive), General Electric (GE) Company, Honeywell International Inc., National Instruments Corp., Parker Hannifin Corp., PCB Piezotronics (MTS Systems Corporation), Rockwell Automation, Schaeffler Group, SKF, Symphony AzimaAI and Wilcoxon Sensing Technologies (Amphenol Corporation).

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Monitoring Technique, Offering, Deployment Type, End Use Industry, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Brüel & Kjær Vibro GmbH (Spectris Plc), Emerson Electric Co., Flir Systems. Inc., Fluke Corporation (Fortive), General Electric (GE) Company, Honeywell International Inc., National Instruments Corp., Parker Hannifin Corp., PCB Piezotronics (MTS Systems Corporation), Rockwell Automation, Schaeffler Group, SKF, Symphony AzimaAI and Wilcoxon Sensing Technologies (Amphenol Corporation)
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Machine Condition Monitoring Market to Reach USD 4.9 Billion by 2033, Supported by Increasing Automation in Manufacturing Facilities

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