DUBLIN--(BUSINESS WIRE)--The "Equipment Monitoring Market by Monitoring Type (Vibration, Thermal, Motor Current, Alarm, GPS), Monitoring Process (Online, Portable), Deployment Type (On-premise, Cloud), Industry (Oil & Gas, Power, Automotive), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The equipment monitoring market is estimated to grow from USD 3.23 billion in 2018 to USD 4.47 billion by 2023, at a CAGR of 6.7% between 2018 and 2023.
The growth of the equipment monitoring market is driven by the advancement of wireless technology in equipment monitoring system, reduced cost of IoT component leading to cost-effective equipment monitoring, and adoption of equipment monitoring systems. However, factors such as lack of trained operators for data analysis and unpredictable maintenance schedule hinder the market growth.
The market for motor current monitoring solutions is estimated to grow at a higher CAGR during the forecast period. In the motor current monitoring technique, the current signal is processed to obtain the frequency spectrum, usually referred to as current signature.
The market for online equipment monitoring is estimated to grow at a higher CAGR during the forecast period. Online equipment monitoring is an advanced monitoring process and provides real-time data to plant operators than portable equipment monitoring, resulting in higher demand for online equipment monitoring. Online equipment monitoring not only provides critical information for maintaining the process performance but also provides instant alerts to problems that might go unnoticed.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Equipment Monitoring Market, By Monitoring Type
8 Equipment Monitoring Market, By Monitoring Process
9 Equipment Monitoring Market, By Deployment Type
10 Equipment Monitoring Market, By Industry
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- Emerson Electric
- General Electric
- National Instruments
- Parker Hannifin
- Rockwell Automation
- Pruftechnik Dieter Busch
- Flir Systems
- SPM Instrument
- Analog Devices
- Fluke Corporation
- PCB Piezotronics
For more information about this report visit https://www.researchandmarkets.com/research/vcrb9p/global_equipment?w=4.