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 - Product Image

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

  • ID: 4542091
  • Report
  • Region: Global
  • 162 Pages
  • Markets and Markets
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FEATURED COMPANIES

  • Analog Devices
  • Flir Systems
  • General Electric
  • National Instruments
  • PCB Piezotronics
  • Pruftechnik Dieter Busch
  • MORE

“The equipment monitoring market is expected to grow at a CAGR of 6.7% during the forecast period”

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 is expected to witness a higher CAGR during the forecast period”

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. To analyze data, various advanced techniques such as fast Fourier transform (FFT), short-time Fourier transform (STFT), Gabor transform, and wavelength transform are used to diagnose errors in operating equipment. Motor current monitoring helps in detecting current imbalance and loading issues in motors, circuitry and motor insulation degradation, rotor damage, eccentricity in rotors, belt defects, and gearing defects.

“The market for online equipment monitoring is expected to witness the highest CAGR during the forecast period”

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.

“North America is expected to dominate the equipment monitoring market, while APAC is expected to grow at the highest CAGR during the forecast period”

North America held the largest share of the equipment monitoring market in 2017 owing to the presence of major equipment monitoring vendors. Reasons behind North America capturing the largest market share are industrial developments, availability of skilled laborers, and decisive and supportive government policies. The metals & mining and oil & gas industries are developing at a rapid pace in Canada and Mexico. These factors are expected to drive the market growth in North America.

APAC is evolving as the world’s most powerful economy because of increasing investments on improving performance, security, and economic stability. Manufacturers in China, one of the top emerging economies, are adopting real-time equipment monitoring systems to improve operational efficiency and productivity. The market for equipment monitoring solutions is on the rise in the utilities sector because of better critical asset management. The demand for equipment monitoring solutions and services is expected to increase in APAC because of the need for conditioning-based maintenance in industries.   
 
Given below is the breakdown of the profile of the primary participants in terms of different parameters considered while studying the report:

  • By Company Type: Tier 1 = 30%, Tier 2 = 38%, and Tier 3 = 32%
  • By Designation: C-Level Executives = 44%, Directors = 38%, and Others = 18%
  • By Region: North America = 30%, Europe = 32%, APAC = 26%, and RoW = 12%

Key players operating in the equipment monitoring market include Emerson Electric (US), General Electric (US), Honeywell (US), National Instruments (US), SKF (Sweden), Parker-Hannifin (US), Rockwell Automation (US), Siemens (Germany), Yokogawa (Japan), and PRUFTECHNIK (Germany).

Research Coverage

In this report, various segments such as monitoring type, deployment types, monitoring processes, industries, and 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.

Reasons to Buy the Report:

  • This report includes the equipment monitoring market sizing in terms of value based on monitoring type, deployment types, monitoring processes, industries, and geographic regions, along with respective countries.
  • Drivers, restraints, opportunities, and challenges related to the equipment monitoring market growth have been provided in detail in this report.
  • The report includes illustrative segmentation, analysis, and forecast for the equipment monitoring market.
  • Value chain analysis has been performed to provide an in-depth insight into the equipment monitoring market.
  • The report includes a detailed competitive landscape, along with key players, in-depth analysis, and revenues of key players.
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Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • Analog Devices
  • Flir Systems
  • General Electric
  • National Instruments
  • PCB Piezotronics
  • Pruftechnik Dieter Busch
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Scope of the Study
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Package Size
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Sources
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.1.3.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Arriving at the Market Size By Bottom-Up Analysis
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing the Market Size By Top-Down Analysis
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumption

3 Executive Summary

4 Premium Insights
4.1 Opportunities in the Equipment Monitoring Market
4.2 Equipment Monitoring Market, By Monitoring Type
4.3 Equipment Monitoring Market, By Monitoring Process
4.4 Equipment Monitoring Market, By Deployment Type
4.5 Equipment Monitoring Market, By Industry
4.6 Equipment Monitoring Market in North America, By Monitoring Type and By Country (2018)
4.7 Equipment Monitoring Market, By Geography

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advancement of Wireless Technology in Equipment Monitoring Systems
5.2.1.2 Reduced Cost of IoT Components Leading to Cost-Effective Equipment Monitoring
5.2.1.3 Adoption of Equipment Monitoring Systems
5.2.2 Restraints
5.2.2.1 Lack of Trained Operators for Data Analysis
5.2.2.2 Unpredictable Maintenance Schedules
5.2.3 Opportunities
5.2.3.1 Cloud-Based Solutions With Real-Time Functionalities Offering Cost Benefits
5.2.3.2 Industrial Internet of Things (IIoT)
5.2.3.3 Advent of Big Data Analytics
5.2.4 Challenges
5.2.4.1 Complexity Involved in Connecting Legacy Equipment

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Regulatory Standards
6.3.1 API
6.3.2 ASTM
6.3.3 ISO
6.3.4 MIMOSA
6.3.5 CEN
6.3.6 CENELEC/IEC

7 Equipment Monitoring Market, By Monitoring Type
7.1 Introduction
7.2 Vibration Monitoring
7.3 Thermal Monitoring
7.4 Lubrication Monitoring
7.5 Corrosion Monitoring
7.6 Noise Monitoring
7.7 Motor Current Monitoring
7.8 Gps Tracking
7.8.1 Standalone Tracker
7.8.2 OBD Device
7.8.3 Advance Tracker
7.9 Alarm Monitoring
7.9.1 Remote Terminal Units (RTU)
7.9.2 Alarms Sensors

8 Equipment Monitoring Market, By Monitoring Process
8.1 Introduction
8.2 Online Equipment Monitoring
8.3 Portable Equipment Monitoring

9 Equipment Monitoring Market, By Deployment Type
9.1 Introduction
9.2 On-Premise
9.3 Cloud

10 Equipment Monitoring Market, By Industry
10.1 Introduction
10.2 Oil & Gas
10.3 Power Generation
10.4 Metals & Mining
10.5 Chemicals
10.6 Automotive
10.7 Aerospace & Defense
10.8 Food & Beverages
10.9 Marine
10.10 Others

11 Geographic Analysis
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Rest of Europe (RoE)
11.4 APAC
11.4.1 China
11.4.2 Japan
11.4.3 India
11.4.4 Rest of APAC (RoAPAC)
11.5 Rest of the World (RoW)
11.5.1 Middle East
11.5.2 South America
11.5.3 Africa

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis
12.3 Competitive Situations and Trends
12.3.1 New Product Launches and Developments, 2015–2017
12.3.2 Contracts and Agreements, 2015–2017
12.3.3 Acquisitions and Collaborations, 2015–2017
12.3.4 Expansions, 2017

13 Company Profiles
13.1 Key Players
13.1.1 Emerson Electric
13.1.2 General Electric
13.1.3 Honeywell
13.1.4 National Instruments
13.1.5 SKF
13.1.6 Parker Hannifin
13.1.7 Rockwell Automation
13.1.8 Siemens
13.1.9 Yokogawa
13.1.10 Pruftechnik Dieter Busch
13.2 Other Prominent Players
13.2.1 Flir Systems
13.2.2 SPM Instrument
13.2.3 Analog Devices
13.2.4 Fluke Corporation
13.2.5 PCB Piezotronics
13.2.6 Petasense

14 Appendix
14.1 Insights of Industry Experts
14.2 Discussion Guide
14.3 Knowledge Store
14.4 Introducing RT: Real-Time Market Intelligence
14.5 Available Customizations
14.6 Related Reports
14.7 Author Details

List of Tables:
Table 1 Equipment Monitoring Market, By Monitoring Type, 2015–2023 (USD Million)
Table 2 Equipment Monitoring Market for Vibration Monitoring, By Hardware, 2015–2023 (USD Million)
Table 3 Equipment Monitoring Market for Vibration Monitoring, By Monitoring Process, 2015–2023 (USD Million)
Table 4 Equipment Monitoring Market for Vibration Monitoring, By Industry, 2015–2023 (USD Million)
Table 5 Equipment Monitoring Market for Vibration Monitoring, By Region, 2015–2023 (USD Million)
Table 6 Equipment Monitoring Market for Thermal Monitoring, By Monitoring Process, 2015–2023 (USD Million)
Table 7 Equipment Monitoring Market for Thermal Monitoring, By Industry, 2015–2023 (USD Million)
Table 8 Equipment Monitoring Market for Thermal Monitoring, By Region, 2015–2023 (USD Million)
Table 9 Equipment Monitoring Market for Lubrication Monitoring, By Monitoring Process, 2015–2023 (USD Million)
Table 10 Equipment Monitoring Market for Lubrication Monitoring, By Industry, 2015–2023 (USD Million)
Table 11 Equipment Monitoring Market for Lubrication Monitoring, By Region, 2015–2023 (USD Million)
Table 12 Equipment Monitoring Market for Corrosion Monitoring, By Monitoring Process, 2015–2023 (USD Million)
Table 13 Equipment Monitoring Market for Corrosion Monitoring, By Industry, 2015–2023 (USD Million)
Table 14 Equipment Monitoring Market for Corrosion Monitoring, By Region, 2015–2023 (USD Million)
Table 15 Equipment Monitoring Market for Noise Monitoring, By Monitoring Process, 2015–2023 (USD Million)
Table 16 Equipment Monitoring Market for Noise Monitoring, By Industry, 2015–2023 (USD Million)
Table 17 Equipment Monitoring Market for Noise Monitoring, By Region, 2015–2023 (USD Million)
Table 18 Equipment Monitoring Market for Motor Current Monitoring, By Monitoring Process, 2015–2023 (USD Million)
Table 19 Equipment Monitoring Market for Motor Current Monitoring, By Industry, 2015–2023 (USD Million)
Table 20 Equipment Monitoring Market for Motor Current Monitoring, By Region, 2015–2023 (USD Million)
Table 21 Equipment Monitoring Market for Gps Tracking, 2015–2023 (Value and Volume)
Table 22 Equipment Monitoring Market for Gps Tracking, By Type, 2015–2023 (USD Million)
Table 23 Equipment Monitoring Market for Gps Tracking , By Monitoring Process, 2015–2023 (USD Million)
Table 24 Equipment Monitoring Market for Gps Tracking , By Industry, 2015–2023 (USD Million)
Table 25 Equipment Monitoring Market for Gps Tracking in Oil & Gas Industry, By Type, 2015–2023 (USD Million)
Table 26 Equipment Monitoring Market for Gps Tracking in Mining and Metals Industry, By Type, 2015–2023 (USD Million)
Table 27 Equipment Monitoring Market for Gps Tracking, By Region, 2015–2023 (USD Million)
Table 28 Equipment Monitoring Market for Alarm Monitoring, By Monitoring Process, 2015–2023 (USD Million)
Table 29 Equipment Monitoring Market for Alarm Monitoring, By Industry, 2015–2023 (USD Million)
Table 30 Equipment Monitoring Market for Alarm Monitoring, By Region, 2015–2023 (USD Million)
Table 31 Equipment Monitoring Market, By Monitoring Process, 2015–2023 (USD Million)
Table 32 Online Equipment Monitoring Market By Monitoring Type, 2015–2023 (USD Million)
Table 33 Portable Equipment Monitoring Market, By Monitoring Type, 2015–2023 (USD Million)
Table 34 Equipment Monitoring Market, By Development Type, 2015–2023 (USD Million)
Table 35 Equipment Monitoring Market, By Industry, 2015–2023 (USD Million)
Table 36 Equipment Monitoring Market for Oil & Gas, By Monitoring Type 2015–2023 (USD Million)
Table 37 Equipment Monitoring Market for Oil & Gas, By Region, 2015–2023 (USD Million)
Table 38 Equipment Monitoring Market for Power Generation, By Monitoring Type, 2015–2023 (USD Million)
Table 39 Equipment Monitoring Market for Power Generation, By Region, 2015–2023 (USD Million)
Table 40 Equipment Monitoring Market for Metals & Mining , By Monitoring Type, 2015–2023 (USD Million)
Table 41 Equipment Monitoring Market for Metals & Mining , By Region, 2015–2023 (USD Million)
Table 42 Equipment Monitoring Market for Chemicals, By Monitoring Type, 2015–2023 (USD Million)
Table 43 Equipment Monitoring Market for Chemicals, By Region, 2015–2023 (USD Million)
Table 44 Equipment Monitoring Market for Automotive, By Monitoring Type, 2015–2023 (USD Million)
Table 45 Equipment Monitoring Market for Automotive, By Region, 2015–2023 (USD Million)
Table 46 Equipment Monitoring Market for Aerospace & Defense, By Monitoring Type, 2015–2023 (USD Million)
Table 47 Equipment Monitoring Market for Aerospace & Defense, By Region, 2015–2023 (USD Million)
Table 48 Equipment Monitoring Market for Food & Beverages, By Monitoring Type, 2015–2023 (USD Million)
Table 49 Equipment Monitoring Market for Food & Beverages, By Region, 2015–2023 (USD Million)
Table 50 Equipment Monitoring Market for Marine, By Monitoring Type, 2015–2023 (USD Million)
Table 51 Equipment Monitoring Market for Marine, By Region, 2015–2023 (USD Million)
Table 52 Equipment Monitoring Market for Others, By Monitoring Type, 2015–2023 (USD Million)
Table 53 Equipment Monitoring Market for Others, By Region, 2015–2023 (USD Million)
Table 54 Equipment Monitoring Market, By Region, 2015–2023 (USD Million)
Table 55 Equipment Monitoring Market in North America, By Monitoring Type, 2015–2023 (USD Million)
Table 56 Equipment Monitoring Market in North America, By Industry, 2015–2023 (USD Million)
Table 57 Equipment Monitoring Market in North America, By Country, 2015–2023 (USD Million)
Table 58 Equipment Monitoring Market in Europe, By Monitoring Type, 2015–2023 (USD Million)
Table 59 Equipment Monitoring Market in Europe, By Industry, 2015–2023 (USD Million)
Table 60 Equipment Monitoring Market in Europe, By Country, 2015–2023 (USD Million)
Table 61 Equipment Monitoring Market in APAC, By Monitoring Type, 2015–2023 (USD Million)
Table 62 Equipment Monitoring Market in APAC, By Industry, 2015–2023 (USD Million)
Table 63 Equipment Monitoring Market in APAC, By Country, 2015–2023 (USD Million)
Table 64 Equipment Monitoring Market in RoW, By Monitoring Type, 2015–2023 (USD Million)
Table 65 Equipment Monitoring Market for RoW, By Industry, 2015–2023 (USD Million)
Table 66 Equipment Monitoring Market in RoW, By Region, 2015–2023 (USD Million)
Table 67 Ranking of Top 5 Market Players, 2017

List of Figures:
Figure 1 Equipment Monitoring Market Segmentation
Figure 2 Equipment Monitoring Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Market for Motor Current Monitoring Expected to Grow at the Highest CAGR Between 2018 and 2023
Figure 7 Online Equipment Monitoring to Hold A Larger Size of the Equipment Monitoring Market Between 2018 and 2023
Figure 8 On-Premise Deployment to Hold A Larger Size of the Equipment Monitoring Market Between 2018 and 2023
Figure 9 Oil & Gas Industry to Hold A Larger Size of the Equipment Monitoring Market Between 2018 and 2023
Figure 10 Equipment Monitoring Market in APAC Expected to Grow at the Highest CAGR During the Forecast Period
Figure 11 Opportunities in the Equipment Monitoring Market Between 2018 and 2023
Figure 12 Market for Motor Current Monitoring to Grow at the Highest CAGR Between 2018 and 2023
Figure 13 Market for Online Equipment Monitoring Expected to Grow at A Higher CAGR Between 2018 and 2023
Figure 14 Market for On-Cloud Equipment Monitoring Expected to Grow at A Higher CAGR Between 2018 and 2023
Figure 15 Oil & Gas Industry to Hold the Largest Share of the Equipment Monitoring Market Between 2018 and 2023
Figure 16 Vibration Monitoring to Hold the Largest Size of the Equipment Monitoring Market in North America in 2018
Figure 17 North America to Hold the Largest Share of the Equipment Monitoring Market Between 2018 and 2023
Figure 18 Equipment Monitoring Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Value Chain Analysis: Major Value is Added During Manufacturing and System Integration Stages
Figure 20 Equipment Monitoring Market, By Monitoring Type
Figure 21 Vibration Monitoring Expected to Account for Largest Size of Equipment Monitoring Market During Forecast Period
Figure 22 Oil & Gas Industry Expected to Account for Largest Size of Thermal Monitoring Market Between 2018 and 2023
Figure 23 APAC to Exhibit Highest CAGR in Equipment Monitoring Market for Corrosion Monitoring During Forecast Period
Figure 24 Advanced Tracker Expected to Dominate Market for Gps Tracking in Equipment Monitoring Market Between 2018 and 2023
Figure 25 Oil & Gas Industry Expected to Account for Largest Size of Alarm Monitoring Market Between 2018 and 2023
Figure 26 Equipment Monitoring Market, By Monitoring Process
Figure 27 Vibration Monitoring to Account for the Larger Market Size Between 2018 and 2023
Figure 28 Equipment Monitoring Market, By Deployment Type
Figure 29 Cloud Deployment to Exhibit the Highest CAGR in the Equipment Monitoring Market Between 2018 and 2023
Figure 30 Equipment Monitoring Market, By Industry
Figure 31 Oil & Gas Industry to Dominate Equipment Monitoring Market in Terms of Size During Forecast Period
Figure 32 APAC Expected to Account for Largest Size of Equipment Monitoring Market for Power Generation Industry During Forecast Period
Figure 33 APAC to Exhibit Highest CAGR in Equipment Monitoring Market for Chemicals Industry During Forecast Period
Figure 34 Vibration Monitoring to Dominate Equipment Monitoring Market in Terms of Size for Aerospace and Defense Industry During Forecast Period
Figure 35 Geographic Snapshot (2017): India, China, and Mexico to Witness Significant Growth During the Forecast Period
Figure 36 North America: Equipment Monitoring Market Snapshot
Figure 37 Equipment Monitoring Market for the Automotive Industry in North America to Grow at the Highest CAGR Between 2018 and 2023
Figure 38 Europe: Equipment Monitoring Market Snapshot
Figure 39 Germany Expected to Account for the Largest Size of the Equipment Monitoring Market in Europe During the Forecast Period
Figure 40 APAC: Equipment Monitoring Market Snapshot
Figure 41 Equipment Monitoring Market in India Expected to Grow at the Highest CAGR Between 2018 and 2023
Figure 42 Oil & Gas Industry Expected to Account for the Largest Size of Equipment Monitoring Market in RoW Between 2018 and 2023
Figure 43 Organic and Inorganic Strategies Adopted By Companies in the Equipment Monitoring Market
Figure 44 Battle for Market Share: New Product Launches Was the Key Strategy
Figure 45 Emerson Electric: Company Snapshot
Figure 46 General Electric: Company Snapshot
Figure 47 Honeywell: Company Snapshot
Figure 48 National Instruments: Company Snapshot
Figure 49 SKF: Company Snapshot
Figure 50 Parker Hannifin: Company Snapshot
Figure 51 Rockwell Automation: Company Snapshot
Figure 52 Siemens: Company Snapshot
Figure 53 Yokogawa: Company Snapshot

Note: Product cover images may vary from those shown
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  • Emerson Electric
  • General Electric
  • Honeywell
  • National Instruments
  • SKF
  • Parker Hannifin
  • Rockwell Automation
  • Siemens
  • Yokogawa
  • Pruftechnik Dieter Busch
  • Flir Systems
  • SPM Instrument
  • Analog Devices
  • Fluke Corporation
  • PCB Piezotronics
  • Petasense
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
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