Global Motor Monitoring Market was valued US$ XX Bn in 2018 and is expected to reach US$ 3.03 Bn by 2026, at a CAGR of around XX % during a forecast period.
The growing prominence of analytical maintenance and increasing requirement to minimize revenue loss caused by motor errors are driving the growth of the motor monitoring market. Additional, the rising popularity of wireless technologies in the manufacturing sector is also contributing to the growth of the motor monitoring market. However, the lack of faith in estimate capabilities of motor monitoring technology is the main dynamic limiting the market growth.
The report covers all the trends and technologies playing a major role in the growth of the motor monitoring market during the forecast period. It highlights the drivers, restraints, and segmentation expected to influence the market growth during 2019-2026.
Based on the offering type, the hardware segment held a largest XX% market share in 2018 owing to the criticality of the use of hardware to make certain basic-level monitoring of motors in plants or structures. Also, devices and reviews are the main types of hardware, and these are used to monitoring motor situations by keeping a check on vibration, temperature, sound, and corrosion.
The on-premises segment is expected to dominate the XX% market share during the forecast period. The on-premises software is more expensive than on-demand or cloud software for it requires domestic server hardware, domestic IT support operate and longer integration periods. Additionally, on-premises software is considered additional secure, as the complete occurrence of the software remains on the administration’s premises.
North America region is projected to lead the significant revenue-generating in the motor monitoring market. It is one of the most innovative regions about the implementation of advanced technologies and infrastructure networks. Constant developments in the motor monitoring software, such as developments in cloud computing and security methods for cloud users, are expected to improve the growth of the market in North America.
The report covers the recent development in the motor monitoring market like in August 2018, the electrification products division of ABB broadcasted its plan of leveraging the ABB ability market for the commercialization of the ABB ability electrical distribution control system through a software-as-a-service model, loud the electrical distribution system for plants and buildings.
The objective of the report is to present a complete calculation of the Global Motor Monitoring Market and contains thoughtful insights, historical data, facts, industry-validated market data and plans with a suitable set of assumptions and methodology. The report also helps in the Global Motor Monitoring Market is a dynamic structure by identifying and analyzing the market segments and project the global market size. The additional, report also focuses on the competitive analysis of key player’s by-product, financial position, price, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment shortly to the emerging segment in the Global Motor Monitoring Market.
Scope of the Global Motor Monitoring Market
Global Motor Monitoring Market, By Offering Type
o Vibration Sensors
o Infrared Sensors
o Corrosion Probes
o Ultrasound Detectors
o Spectrum Analyzers
Global Motor Monitoring Market, By Monitoring Process
Global Motor Monitoring Market, By Deployment Mode
Global Motor Monitoring Market, By End-Use
• Metals & Mining
• Oil & Gas
• Power Generation
• Water & Wastewater
• Food & Beverages
• Aerospace & Defense
Global Motor Monitoring Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Kay players operating in the Global Motor Monitoring Market
• Banner Engineering Corp.
• Honeywell International Inc.
• KCF Technologies
• Mitsubishi Electric Corporation
• Mouser Electronics.
• Qualitrol Company LLC
• Rockwell Automation
• RS Components & Controls
• T.F. Hudgins Incorporated.
• National Instruments
• General Electric
• Emerson Electric
• Schneider Electric
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