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Global Machine Condition Monitoring Market (2023-2028) Competitive Analysis, Impact of Covid-19 with Ansoff Analysis

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  • 181 Pages
  • February 2024
  • Region: Global
  • Infogence Global Research
  • ID: 5585558
The Global Machine Condition Monitoring Market is estimated to be USD 2.92 Bn in 2023 and is expected to reach USD 3.97 Bn by 2028 growing at a CAGR of 6.31%.

Market Dynamics

Market dynamics are forces that impact the prices and behaviors of the Global Machine Condition Monitoring Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.

Market Segmentations

  • The Global Machine Condition Monitoring Market is segmented based on Components, Deployment, Function, Monitoring Process, Vertical, and Geography.
  • By Components, the market is classified into Hardware and Software.
  • By Deployment, the market is classified into Cloud and On Premises.
  • By Function, the market is classified into Corrosion Monitoring, Motor Current Analysis, Oil Analysis, and Thermography Vibration Monitoring.
  • By Monitoring Process, the market is classified into Online Condition Monitoring and Portable Condition Monitoring.
  • By Vertical, the market is classified into Automotive Engineering, Industrial Processing, Metal Mining, Oil and Gas, and Wind Energy.
  • By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are 3D signals, ALS, Analog Devices, Bruel & Kjaer, Emerson Electric, Flir Systems, Fluke, General Electric, Honeywell International, Logilube, Machine Saver, Meggitt, National Instruments, Parker Hannifin, PCB Piezotronics, Petasense, Rockwell Automation, Schaeffler, Senseye, SKF, SPM Instrument, Symphony Industrial AI, Uptake Canada, Wilcoxon Sensing Technologies, etc.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
  • Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

  • The report presents a detailed Ansoff matrix analysis for the Global Machine Condition Monitoring Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
  • The publisher analyses the Global Machine Condition Monitoring Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
  • Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Machine Condition Monitoring Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights:

  • A complete analysis of the market, including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations and Outlook
4 Market Dynamics
4.1 Drivers
4.1.1 Advent of Secure Cloud Computing Platforms Used for Machine Condition Monitoring
4.1.2 Adoption of Wireless Communication Technology in Machine Condition Monitoring
4.1.3 Inclination Toward Predictive Maintenance of Industrial Machinery
4.1.4 Deployment of Automated Condition Monitoring Technologies in Smart Factories
4.1.5 Realization of Benefits of Condition Monitoring Systems by Manufacturers
4.2 Restraints
4.2.1 Reliability Issues n Prediction Capabilities of Machine Condition Monitoring Systems
4.2.2 Lack of Trained Technical Resources for Data Analysis
4.3 Opportunities
4.3.1 Emergence of Machine Learning and Big Data Analytics
4.3.2 Advent of Industrial Internet of Things (Iot) to Unfold New Growth Avenues
4.4 Challenges
4.4.1 Difficulty in Accessing Expertise at Remote Locations
4.4.2 Additional Expenses and Difficulties Faced During Retrofitting of Existing Systems
4.4.3 Integration of Machine Condition Monitoring Systems with Other Maintenance Systems
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global Machine Condition Monitoring Market, By Components
6.1 Introduction
6.2 Hardware
6.2.1 Vibration Sensors Accelerometers Proximity Probes Tachometers
6.2.2 Infrared Sensors Thermal infrared sensors Quantum infrared sensors
6.2.3 Spectrometers Infrared spectrometers Ultraviolet spectrometers Atomic spectrometers Mass spectrometers
6.2.4 Ultrasound Detectors Sound pressure meters Stethoscopes Ultrasound leak detectors
6.2.5 Spectrum Analyzers
6.2.6 Corrosion Probes
6.2.7 Others
6.3 Software
6.3.1 Data Integration
6.3.2 Diagnostic Reporting
6.3.3 Order Tracking Analysis
6.3.4 Parameter Calculation
7 Global Machine Condition Monitoring Market, By Deployment
7.1 Introduction
7.2 Cloud
7.3 On Premises
8 Global Machine Condition Monitoring Market, By Function
8.1 Introduction
8.2 Corrosion Monitoring
8.3 Motor Current Analysis
8.4 Oil Analysis
8.5 Thermography Vibration Monitoring
9 Global Machine Condition Monitoring Market, By Monitoring Process
9.1 Introduction
9.2 Online Condition Monitoring
9.3 Portable Condition Monitoring
10 Global Machine Condition Monitoring Market, By Vertical
10.1 Introduction
10.2 Automotive Engineering
10.3 Industrial Processing
10.4 Metal Mining
10.5 Oil and Gas
10.6 Wind Energy
11 Americas' Global Machine Condition Monitoring Market
11.1 Introduction
11.2 Argentina
11.3 Brazil
11.4 Canada
11.5 Chile
11.6 Colombia
11.7 Mexico
11.8 Peru
11.9 United States
11.10 Rest of Americas
12 Europe's Global Machine Condition Monitoring Market
12.1 Introduction
12.2 Austria
12.3 Belgium
12.4 Denmark
12.5 Finland
12.6 France
12.7 Germany
12.8 Italy
12.9 Netherlands
12.10 Norway
12.11 Poland
12.12 Russia
12.13 Spain
12.14 Sweden
12.15 Switzerland
12.16 United Kingdom
12.17 Rest of Europe
13 Middle East and Africa's Global Machine Condition Monitoring Market
13.1 Introduction
13.2 Egypt
13.3 Israel
13.4 Qatar
13.5 Saudi Arabia
13.6 South Africa
13.7 United Arab Emirates
13.8 Rest of MEA
14 APAC's Global Machine Condition Monitoring Market
14.1 Introduction
14.2 Australia
14.3 Bangladesh
14.4 China
14.5 India
14.6 Indonesia
14.7 Japan
14.8 Malaysia
14.9 Philippines
14.10 Singapore
14.11 South Korea
14.12 Sri Lanka
14.13 Thailand
14.14 Taiwan
14.15 Rest of Asia-Pacific
15 Competitive Landscape
15.1 Competitive Quadrant
15.2 Market Share Analysis
15.3 Strategic Initiatives
15.3.1 M&A and Investments
15.3.2 Partnerships and Collaborations
15.3.3 Product Developments and Improvements
16 Company Profiles
16.1 3D signals
16.2 ALS
16.3 Analog Devices
16.4 Bruel & Kjaer
16.5 Emerson Electric
16.6 Flir Systems
16.7 Fluke
16.8 General Electric
16.9 Honeywell International
16.10 Logilube
16.11 Machine Saver
16.12 Meggitt
16.13 National Instruments
16.14 Parker Hannifin
16.15 PCB Piezotronics
16.16 Petasense
16.17 Rockwell Automation
16.18 Schaeffler
16.19 Senseye
16.20 SKF
16.21 SPM Instrument
16.22 Symphony Industrial AI
16.23 Uptake Canada
16.24 Wilcoxon Sensing Technologies
17 Appendix
17.1 Questionnaire

Companies Mentioned

  • 3D signals
  • ALS
  • Analog Devices
  • Bruel & Kjaer
  • Emerson Electric
  • Flir Systems
  • Fluke
  • General Electric
  • Honeywell International
  • Logilube
  • Machine Saver
  • Meggitt
  • National Instruments
  • Parker Hannifin
  • PCB Piezotronics
  • Petasense
  • Rockwell Automation
  • Schaeffler
  • Senseye
  • SKF
  • SPM Instrument
  • Symphony Industrial AI
  • Uptake Canada
  • Wilcoxon Sensing Technologies

Table Information