Global Machine Condition Monitoring Market Set to Reach $5.2 Billion by 2029, Driven by Industry 4.0 Adoption

1. "Global Machine Condition Monitoring Market Set to Reach $5.2 Billion by 2029, Driven by Industry 4.0 Adoption” J

2. Machine Condition Monitoring Market 2022-2029 Meticulous Research®, a leading global market research firm, has announced the release of its latest report, titled, Machine Condition Monitoring Market by Component (Hardware, Software), Process (Online, Portable), Monitoring Technique (Vibration, Thermography, Corrosion), End-use Industry (Energy, Oil & Gas, Telecom), and Geography — Global Forecast to 2029. According to the report, the global machine condition monitoring market is projected to reach $5.2 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2029. Download Sample Copy Here: https://www.meticulousresearch.com/download-sample- report/cp_id=5328 The growth of the machine condition monitoring market is primarily fueled by the escalating adoption of Industry 4.0 technologies and a heightened awareness of predictive maintenance techniques. These advancements are revolutionizing industrial operations by enhancing efficiency and reducing downtime. Despite these opportunities, the market faces challenges, including a shortage of technical expertise for analyzing and predicting machine conditions and the high cost and complexity of integrating monitoring systems with existing infrastructure. The report segments the machine condition monitoring market into several key categories: • Component: The market is divided into hardware, software, and services. The software segment is anticipated to hold the largest market share in 2022 due to its crucial role in minimizing downtime and boosting productivity. It is also expected to register the highest CAGR during the forecast period. • Deployment Mode: Segmented into on-premise and cloud-based deployments, the cloud-based segment is expected to dominate in 2022. Its growth is driven by benefits such as automatic software updates, subscription-based models, and enhanced data safety. This segment is forecasted to experience the highest CAGR. • Monitoring Process: The market is categorized into online and portable monitoring processes. The online monitoring segment is projected to hold a significant share in 2022, driven by the growing adoption of wireless technologies. It is also anticipated to achieve the highest CAGR. • Monitoring Technique: Segmented into vibration monitoring, corrosion monitoring, thermography, oil analysis, ultrasound monitoring, and other techniques. Vibration monitoring is expected to capture the largest market share due to its widespread use in ensuring operational efficiency and detecting machinery issues. However, corrosion monitoring is predicted to grow at the fastest rate. • End-use Industry: The market is segmented into manufacturing, healthcare, energy & utilities, aerospace, telecom, agriculture, oil & gas, transportation & logistics, and other industries. The manufacturing sector is projected to lead in market share in 2022, propelled by increased adoption of digital technologies such as automation and industrial IoT. This segment is also expected to grow at the highest CAGR. Geographic Insights: Page 1 of 3 © Meticulous Research| sales@meticulousresearch.com

3. Machine Condition Monitoring Market 2022-2029 Regionally, the machine condition monitoring market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is anticipated to hold the largest market share in 2022, driven by a surge in automation and industrialization in key countries such as China, India, and Japan. This region’s demand for machine condition monitoring systems is projected to grow significantly. Key Players: The report identifies major players in the market, including General Electric Company (U.S.), AB SKF (Sweden), Wilcoxon Sensing Technologies (U.S.), Emerson Electric Co. (U.S.), ALS Limited (Australia), Honeywell International Inc. (U.S.), Parker-Hannifin Corporation (U.S.), Rockwell Automation, Inc. (U.S.), ifm electronic gmbh (Germany), Schaeffler AG (Germany), Baker Hughes Company (U.S.), Analog Devices, Inc. (U.S.), Fluke Corporation (U.S.), Meggitt PLC (U.K.), and National Instruments Corporation (U.S.). Quick Buy @ https://www.meticulousresearch.com/Checkout/54480657 About Meticulous Research® Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research® Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 2 of 3 © Meticulous Research| sales@meticulousresearch.com

4. Machine Condition Monitoring Market 2022-2029 Page 3 of 3 © Meticulous Research| sales@meticulousresearch.com