Global Motor Monitoring Market to Reach US$ 3.2 Billion by 2027, Propelled by Rising Adoption of Cloud Computing Platforms

December 15, 2022

IMARC Group’s latest report, titled “Motor Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global motor monitoring market size reached US$ 2.1 Billion in 2021. Motor monitoring is a predictive maintenance aspect involving extensive inspection with modern, state-of-the-art equipment. It focuses on reducing repair-related downtime and tracking the performance of motors. It analyzes the testing ease, spare parts availability, testing starting loads, ambient temperature, and the number of starts and stops. It transmits data through a wireless or cable network to output devices such as monitors, analyzers, and central servers. It helps find potential issues, prevent crucial unplanned downtime, ensure efficiency, and enhance plant operations. As a result, motor monitoring finds extensive applications in the aerospace, automotive, and oil and gas indus

Global Motor Monitoring Market Trends:

The rising adoption of cloud computing platforms represents the primary factor driving the market growth. Moreover, electric motors are durable and efficient, require minimal maintenance, use less energy, and have a high tolerance to voltage fluctuations. In addition, the rising applications of electric motors in domestic appliances, machine tools, and industrial fans are positively influencing the market growth. Additionally, governments of numerous countries are implementing stringent policies to promote the adoption of energy-saving products and reduce carbon emissions across various industrial sectors. In line with this, the escalating demand for motors, as they are more affordable and environment-friendly than fossil-fuel engines, has catalyzed market growth. Apart from this, the rising importance of detecting potential problems in machines before their breakdown is another major growth-inducing factor. Furthermore, ongoing product innovations, such as the development of advanced test equipment that collects data via three voltage probes and corresponding current transformers, which can be recorded, calculated, and interpreted for uninterrupted comparison, reporting, and trending, are propelling the market growth. Besides this, the increasing applications of motor monitoring in sports and thermal imaging is contributing to the market growth. Other factors, including advancements in big data technology, the surging popularity of wireless technologies, and the rapid expansion of the oil and gas industry, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 3.2 Billion by 2027, expanding at a CAGR of 7.7% during 2022-2027. 

Market Summary:

  • Based on the offering, the market has been bifurcated into hardware and software.               
  • On the basis of the monitoring process, the market has been divided into oil analysis, motor current analysis, ultrasound, thermography, vibration analysis, and others. 
  • The market has been categorized based on the end use into oil and gas, energy and power, aerospace and defense, automotive, and others. 
  • Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa. 
  • The competitive landscape of the market has also been examined, with some of the key players being AB SKF, ABB Ltd, ALS Limited, Eaton Corporation plc, Emerson Electric Co., General Electric Company, Honeywell International Inc, National Instruments Corp., Parker-Hannifin Corp, Rockwell Automation Inc, Schneider Electric SE, and Siemens AG.
     

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St, Ste 
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Global Motor Monitoring Market to Reach US$ 3.2 Billion by 2027, Propelled by Rising Adoption of Cloud Computing Platforms
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More