About the Machine Condition Monitoring Market

During the course of the 20th century, maintenance strategies have gone through many changes. Currently, predictive and proactive strategies present the maximum benefits at minimum expenditure. However, the preventive or scheduled maintenance approach is the most widely used strategy, particularly among the SMEs. This is mainly due to their reluctance to shift from a maintenance strategy that they have adapted over the years and the misconception that predictive and proactive strategies are expensive. With increased awareness, we expect the predictive and proactive approach to gain considerable momentum in the coming years.

Technavio’s analysts forecast the global machine condition monitoring market to grow at a CAGR of 4.02% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the global machine condition monitoring market for 2016-2020. The report considers the revenue generated from the sales of the following:
• Hardware
• Software, software licenses, and renewal of software licenses
• Upgrades of existing solutions
• Maintenance and services
Note: The report only considers revenues generated from machine condition monitoring systems used in/for plant equipment and machinery.

The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA

Technavio's report, Global Machine Condition Monitoring Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
• Emerson Electric
• General Electric
• Honeywell
• National Instruments
• Rockwell Automation

Other prominent vendors
• Azima DLI
• Bruel & Kjaer Sound and Vibration Measurement
• DLI Engineering
• FLIR Systems
• Fluke
• Motion Industries
• NSK
• Parker-Hannifin
• PCB Piezotronics
• PDS Condition Monitoring Services
• Rohrback Cosasco
• Saj Engineering & Trading Company
• Scientific Monitoring
• Shinkawa
• SKF
• SPM Instrument
• Timken
• W.W. Grainger

Market driver
• Shift from preventive maintenance to predictive maintenance
• For a full, detailed list, view our report

Market challenge
• Lack of customization and increased costs
• For a full, detailed list, view our report

Market trend
• Integration of IoT in machine condition monitoring
• For a full, detailed list, view our report

Key questions answered in this report
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.