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Rapid Upgrades of Manufacturing Units Across the Globe Calls for Advanced Solutions From Global Machine Condition Monitoring Market - Transparency Market Research

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Transparency Market Research

21 May, 2020, 13:30 GMT

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- Increasing implementation of the data oriented technologies is helping the machines to get smart. However, to relay the information to the user is highly important.

- The global machine condition monitoring market is projected to show a growth potential of ~2.2 Bn during the tenure of 2018 to 2026.

ALBANY, New York, May 21, 2020 /PRNewswire/ -- The global machine condition monitoring market is expected to witness a substantial growth during the tenure of 2018 to 2026, says a recent report by Transparency Market Research. As per the report, the growth of the market is attributed to the increasing industrialization across the globe. Moreover, pacing Industry 4.0 and developing intelligence induced in machine are also some crucial aspects that are propelling the growth of global machine condition monitoring market during the tenure of 2018 to 2026. However, recent events of COVID-19 outbreak has put an halt to the growth of global machine condition monitoring market, further explains the report by Transparency Market Research.

"Owing to the industrial development across the globe, the business sector is investing a massive amount in installing machines that can help them meet the demand cycle. Therefore it becomes quite essential for these businesses to keep their machines in top-notch condition for which they are implementing innovative systems that can monitor the health of the machines. Owing to these implementations, the global machine condition monitoring market is projected to witness 8.1% CAGR during the tenure of 2018 to 2026" –Transparency Market Research.

Download PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=12170 

Major Findings in the Global Machine Condition Monitoring Market Study

  • The vibration monitoring segment is projected to expand at a considerable CAGR of 7.9% in type category of global machine condition monitoring market.
  • The global machine condition monitoring market is expected to grow from US$ 2.2 Bn in 2017 to US$ 4.4 Bn by the end of 2026.
  • Asia Pacific is anticipated to witness a witness 8.9% CAGR owing to the increasing industrialization in India and China.

Explore the latest study on global machine condition monitoring market under the title: Machine Condition Monitoring Market (Component - Hardware, Software, Services; Type - Thermography, Vibration Monitoring, Lubrication Oil Monitoring, Acoustic Emission Monitoring, Ultrasound Monitoring, Corrosion Monitoring, Current Signature Monitoring; Solution Type - Online Monitoring, Integrated Monitoring, Continuous Remote Monitoring, Route Based Monitoring; End use Industry - Aerospace and Defense, Automotive, Oil and Gas, Metal and Mining, Marine, Food and Beverage, Chemicals and Pharmaceuticals) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026 at https://www.transparencymarketresearch.com/machine-condition-monitoring-market.html

Major Factors Boosting the Growth of Global Machine Condition Monitoring Market

Growing Adoption of Predictive Maintenance Systems to Boost the Growth

Predictive maintenance is the result of IoT and other data oriented technologies that are implemented in the machines. This technology analyses the operation of the machine and monitors the anomaly that occurs in the machine. As a result of this technology, the businesses can save a massive amount of money and time by avoiding unprecedented breakdowns. Since majority of the businesses are adopting predictive maintenance, the demand for machine condition monitoring systems has skyrocketed in past few years which as a result is propelling the growth of global machine condition monitoring market during the tenure of 2018 to 2026.

Rising Adoption of Vibration Monitoring Systems to Boost the Growth

Uncontrolled vibrations are the arch nemesis of any machines. These vibrations can take a machine out of synchronization or completely destroy it. Therefore, businesses are investing in the development and implementation vibration monitoring systems. As a result of these developments, the global machine condition monitoring market is growing exponentially during the tenure of 2018 to 2026.

Request COVID19 Impact on Machine Condition Monitoring Market at https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=12170 

Major Challenges that Might Impede the Growth of Global Machine Condition Monitoring Market

Since the world facing a major crisis of COVID-19 and majority of the businesses are not operating at their full capacity. Owing to this pandemic, the demand for machine condition monitoring is witnessing a downward curve, which is the major challenge that is impeding the growth of global machine condition monitoring market during the tenure of 2018 to 2026.

Global Machine Condition Monitoring Market: Regional Analysis

Asia Pacific is anticipated to have a dominating share is the global machine condition monitoring market. This dominance is the result of growing industrialization in India, China. Moreover, the countries are exploring new limits of manufacturing, which as a result require new machines and machine condition monitoring systems. Owing to these adoptions, Asia Pacific is projected to dominate the regional front of global machine condition monitoring market during the forecast period of 2018 to 2026.

Analyze machine condition monitoring market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea, Request a sample of the study.

Competitive Analysis

The global machine condition monitoring market is highly progressive yet highly fragmented. The nature of the market is the result of presence of various prominent players. However, due to this the new players are unable to enter the global machine condition monitoring market. To overcome this situation, the new players are merging and collaborating with the established players of global machine condition monitoring market.

View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/12170

The global machine condition monitoring market is segmented on the basis of:

Global Machine Condition Monitoring Market, by Component

  • Hardware
  • Software
  • Services

Global Machine Condition Monitoring Market, by Type

  • Thermography
  • Vibration Monitoring
  • Lubrication Oil Monitoring
  • Acoustic Emission Monitoring
  • Ultrasound Monitoring
  • Corrosion Monitoring
  • Current Signature Monitoring
  • Others

Global Machine Condition Monitoring Market, by Solution Type

  • Online Monitoring
  • Integrated Monitoring
  • Continuous Remote Monitoring
  • Route-based Monitoring

Global Machine Condition Monitoring Market, by End-use Industry

  • Aerospace and Defense
  • Automotive
  • Oil and Gas
  • Metal and Mining
  • Marine
  • Food and Beverages
  • Chemicals and Pharmaceuticals
  • Others (Paper & Pulp, Textile, Utility)

Global Machine Condition Monitoring Market, by Geography

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the Global Electronics & Semiconductors Industry:

Intelligent Transport System (ITS) Market – Demand for intelligent transportation system is increasing due to a rise in the number of vehicles on roads, which are facing increasing issues such as heavy traffic and accidents. Consequently, governments of various countries are adopting the intelligent transportation system to reduce the impact of such problems. These are the key factors driving the intelligent transportation system market

Microseismic Monitoring Technology Market – The global microseismic monitoring technology market is driven by an increase in use of the technology in environmental and geotechnical engineering as it helps in the evaluation of the real-time location of underground rock fractures. Furthermore, microseismic monitoring technology can be applied to the precursor-monitoring of a volcano or earthquake disaster as well as in rock burst monitoring in the process of exploitation of mineral resources.

E-Scrap and Printed Circuit Board (PCB) E-Scrap Market – The market for e-scrap is anticipated to expand at a CAGR of 5.6% by volume during the forecast period from 2017 to 2027. On the other hand, the global printed circuit board (PCB) e-scrap market was valued at 1.57 million tons in 2016 and is expected to reach 3.40 million tons by 2027, expanding at a CAGR of 7.3% from 2017 to 2027.

Flexible Display Market – The global flexible display market is slated to see a turbo-charged growth in the upcoming years. A report by Transparency Market Research, estimates the market will register a phenomenal CAGR of 33.5% from 2017 to 2025. Rising at this pace the market will likely become worth US$47.892 bn by 2025 from US$4.5 bn in 2016.

Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.

About Transparency Market Research        

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact
Mr Rohit Bhisey
Transparency Market Research
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90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

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