Global machine condition monitoring market segmentation by end-user and geography
Technavio’s report on the global machine condition monitoring market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by end-user, including power industry, oil and gas industry, pulp and paper industry, cement and metal industry, chemical and petrochemical industry, and automotive industry. As projected in 2017, around 19% of the market share originated from the power industry. This market share is expected to increase further by 2022.
Based on geography, the global machine condition monitoring market has been segmented into APAC, EMEA, and the Americas. As of 2017, 36% of the market share came from the Americas.
“In the global machine condition monitoring market, the Americas is dominating the market with the highest market share. The market share is expected to grow further by 0.16% in 2022,” says a senior analyst at Technavio for automation research.
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Machine condition monitoring market: competitive vendor landscape
The global machine condition monitoring market is moderately fragmented with many players in the market. Emerson Electric, General Electric, Honeywell, National Instruments, Rockwell Automation, and SKF are the leading players in the market. These companies are focusing on increasing their global footprint and are expanding into developing countries through mergers and acquisitions or partnerships with the regional vendors.
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Other topics covered in the report:
- Wireless communication gaining momentum in industries
- Increased focus and investment in smart factory
- Limited battery life for wireless devices
- Communication interference limitations
- Improvement in sensor technology
- Emergence of integrated machine condition monitoring system
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