Table of Content


"1    INTRODUCTION    36
1.1    STUDY OBJECTIVES    36
1.2    MARKET DEFINITION AND SCOPE    36
1.3    INCLUSIONS AND EXCLUSIONS    37
1.4    STUDY SCOPE    38
1.4.1    MARKETS COVERED    38
FIGURE 1    MACHINE CONDITION MONITORING MARKET SEGMENTATION    38
1.4.2    GEOGRAPHIC SCOPE    38
1.4.3    YEARS CONSIDERED    39
1.5    CURRENCY    39
1.6    MARKET STAKEHOLDERS    39
1.7    SUMMARY OF CHANGES    40
2    RESEARCH METHODOLOGY    41
2.1    INTRODUCTION    41
FIGURE 2    MACHINE CONDITION MONITORING MARKET: RESEARCH DESIGN    41
2.2    SECONDARY AND PRIMARY RESEARCH    43
2.2.1    SECONDARY DATA    43
2.2.1.1    List of major secondary sources    43
2.2.1.2    Key data from secondary sources    44
2.2.2    PRIMARY DATA    44
2.2.2.1    Primary interviews with experts    44
2.2.2.2    Key data from primary sources    45
2.2.2.3    Key industry insights    45
2.2.2.4    Breakdown of primaries    46
2.3    MARKET SIZE ESTIMATION    46
2.3.1    BOTTOM-UP APPROACH    46
2.3.1.1    Approach for arriving at market size using bottom-up analysis    46
FIGURE 3    MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH    47
2.3.2    TOP-DOWN APPROACH    47
2.3.2.1    Approach for capturing market size using top-down analysis    48
FIGURE 4    MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH    48
FIGURE 5    MARKET SIZE ESTIMATION METHODOLOGY: MACHINE CONDITION MONITORING MARKET USING SUPPLY-SIDE ANALYSIS    48
2.4    MARKET BREAKDOWN AND DATA TRIANGULATION    49
FIGURE 6    DATA TRIANGULATION    49
2.5    RESEARCH ASSUMPTIONS AND LIMITATIONS    50
2.5.1    RESEARCH ASSUMPTIONS    50
2.5.2    LIMITATIONS    50
2.6    RISK ASSESSMENT    51
FIGURE 7    RISK ASSESSMENT    51
3    EXECUTIVE SUMMARY    52
FIGURE 8    IMPACT ANALYSIS OF COVID-19 ON MACHINE CONDITION MONITORING MARKET    52
3.1    REALISTIC SCENARIO    53
TABLE 1    REALISTIC SCENARIO (POST-COVID-19) SCENARIO: MACHINE CONDITION MONITORING MARKET, 2022–2027 (USD MILLION)    53
3.2    OPTIMISTIC SCENARIO    53
TABLE 2    OPTIMISTIC SCENARIO (POST-COVID-19): MACHINE CONDITION MONITORING MARKET, 2022–2027 (USD MILLION)    53
3.3    PESSIMISTIC SCENARIO    53
TABLE 3    PESSIMISTIC SCENARIO (POST-COVID-19): MACHINE CONDITION MONITORING MARKET, 2022–2027 (USD MILLION)    53
FIGURE 9    ONLINE CONDITION MONITORING SEGMENT TO HOLD LARGER MARKET SHARE THAN PORTABLE MACHINE CONDITION MONITORING SEGMENT IN 2022    54
FIGURE 10    VIBRATION MONITORING TECHNIQUE TO RECORD LARGEST SIZE OF MACHINE CONDITION MONITORING MARKET IN 2022    54
FIGURE 11    AUTOMOTIVE INDUSTRY TO EXHIBIT HIGHEST CAGR FROM 2022 TO 2027    55
FIGURE 12    NORTH AMERICA ACCOUNTED FOR LARGEST SHARE OF GLOBAL MACHINE CONDITION MONITORING MARKET IN 2021    56
4    PREMIUM INSIGHTS    57
4.1    ATTRACTIVE GROWTH OPPORTUNITIES IN MACHINE CONDITION MONITORING MARKET    57
FIGURE 13    EMERGENCE OF SECURE CLOUD COMPUTING PLATFORMS SUITABLE FOR MACHINE CONDITION MONITORING TO PROPEL MARKET GROWTH    57
4.2    MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE    57
FIGURE 14    VIBRATION MONITORING TECHNIQUE TO HAVE MAXIMUM CONTRIBUTION TO MACHINE CONDITION MONITORING MARKET FROM 2022 TO 2027    57
4.3    MACHINE CONDITION MONITORING MARKET,  BY DEPLOYMENT TYPE    58
FIGURE 15    ON-PREMISES DEPLOYMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2022    58
4.4    MACHINE CONDITION MONITORING MARKET, BY INDUSTRY    58
FIGURE 16    POWER GENERATION INDUSTRY TO HOLD LARGEST SHARE OF MACHINE CONDITION MONITORING MARKET IN 2022    58
4.5    MACHINE CONDITION MONITORING MARKET, BY REGION    59
FIGURE 17    INDIA TO RECORD HIGHEST CAGR IN MACHINE CONDITION MONITORING MARKET FROM 2022 TO 2027    59
5    MARKET OVERVIEW    60
5.1    INTRODUCTION    60
5.2    MARKET DYNAMICS    60
FIGURE 18    MACHINE CONDITION MONITORING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES    60
5.2.1    DRIVERS    61
5.2.1.1    Growing requirement for remote industrial operations due to spread of COVID-19    61
5.2.1.2    Rising inclination toward real-time condition monitoring through highly secure cloud computing platforms    61
5.2.1.3    Surging adoption of wireless communication technology in machine condition monitoring    62
5.2.1.4    Increasing use of predictive maintenance techniques by industry players    62
5.2.1.5    Accelerating deployment of automated condition monitoring technologies in smart factories    63
5.2.1.6    Increasing awareness in manufacturers worldwide regarding benefits of installing condition monitoring systems    63
FIGURE 19    IMPACT ANALYSIS OF DRIVERS ON MACHINE CONDITION MONITORING MARKET    64
5.2.2    RESTRAINTS    64
5.2.2.1    Lack of trust in prediction capabilities of machine condition monitoring systems    64
5.2.2.2    Shortage of technical expertise necessary to carry out data analysis    65
FIGURE 20    IMPACT ANALYSIS OF RESTRAINTS ON MACHINE CONDITION MONITORING MARKET    65
5.2.3    OPPORTUNITIES    65
5.2.3.1    Advent and integration of machine learning and big data analytics in asset monitoring    65
5.2.3.2    Focus of market players on strategic partnerships and collaborations to develop world-class machine monitoring products    66
5.2.3.3    Emergence of IIoT to unfold new growth avenues    66
FIGURE 21    IMPACT ANALYSIS OF OPPORTUNITIES ON MACHINE CONDITION MONITORING MARKET    67
5.2.4    CHALLENGES    67
5.2.4.1    Availability of experts at remote locations    67
5.2.4.2    Requirement for additional expenses to retrofit existing systems    67
5.2.4.3    Integration of machine condition monitoring systems with other maintenance systems    68
5.2.4.4    Impact of COVID-19 on growth of oil & gas industry    68
FIGURE 22    IMPACT ANALYSIS OF CHALLENGES ON MACHINE CONDITION MONITORING MARKET    69
5.3    VALUE CHAIN ANALYSIS    70
FIGURE 23    VALUE CHAIN ANALYSIS: MACHINE CONDITION MONITORING SOLUTIONS    70
5.4    ECOSYSTEM ANALYSIS    71
FIGURE 24    ECOSYSTEM    71
TABLE 4    MACHINE CONDITIONING MONITORING MARKET: ECOSYSTEM    72
5.5    TRENDS/DISRUPTIONS IMPACTING CUSTOMERS    73
FIGURE 25    REVENUE SHIFT FOR MACHINE CONDITIONING MONITORING MARKET    73
5.6    PORTER’S FIVE FORCES ANALYSIS    73
TABLE 5    MACHINE CONDITION MONITORING MARKET: PORTER’S FIVE FORCES ANALYSIS    74
5.7    CASE STUDY ANALYSIS    75
TABLE 6    SKF ONLINE CONDITION MONITORING SYSTEM REDUCES DOWNTIME OF STEEL ROLLING MILL    75
TABLE 7    BARKING POWER STATION REDUCES PLANT DOWNTIME AND ENHANCES OPERATOR SAFETY USING WIRELESS VIBRATION TRANSMITTERS OF EMERSON    76
TABLE 8    VIBRATION-BASED CONDITION MONITORING OF ROTATING PART OF MILLING MACHINE USING SPECTRUM ANALYSIS    76
5.8    TECHNOLOGY ANALYSIS    76
5.8.1    INTERNET OF THINGS (IOT)    76
FIGURE 26    UTILIZATION OF IOT PLATFORMS BY CONDITION MONITORING SYSTEM USERS    77
5.8.2    CLOUD COMPUTING TECHNOLOGY    77
FIGURE 27    ADVANTAGES OF CLOUD-BASED MACHINE CONDITION MONITORING    78
FIGURE 28    INDUSTRIAL DEVELOPMENT MODEL    78
5.8.3    MULTI-PARAMETER CONDITION MONITORING    79
5.8.4    CLOUD-BASED PREDICTIVE MAINTENANCE  (MAINTENANCE–AS–A–SERVICE)    79
FIGURE 29    DATA EXCHANGE IN CLOUD-BASED MAINTENANCE FRAMEWORK    80
5.9    PRICING ANALYSIS    81
5.9.1    ASP ANALYSIS OF KEY PLAYERS    81
FIGURE 30    ASP OF VIBRATION SENSORS BASED ON OPERATING TEMPERATURE    81
TABLE 9    APPROXIMATE AVERAGE SELLING PRICES OF VIBRATION SENSORS BASED ON OPERATING TEMPERATURE, BY COMPANY    82
5.9.2    ASP TREND    82
TABLE 10    AVERAGE SELLING PRICES OF MACHINE CONDITION MONITORING HARDWARE COMPONENTS    82
5.10    TRADE ANALYSIS    83
5.10.1    IMPORT SCENARIO    83
FIGURE 31    IMPORTS, BY KEY COUNTRY, 2016–2020 (USD MILLION)    83
5.10.2    EXPORT SCENARIO    84
FIGURE 32    EXPORTS, BY KEY COUNTRY, 2016–2020 (USD MILLION)    84
5.11    KEY CONFERENCES AND EVENTS IN 2022 AND 2023    84
TABLE 11    MACHINE CONDITION MONITORING MARKET: DETAILED LIST OF CONFERENCES AND EVENTS    84
5.12    PATENT ANALYSIS    85
FIGURE 33    TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS    85
TABLE 12    TOP 20 PATENT OWNERS IN US IN LAST 10 YEARS    85
FIGURE 34    NUMBER OF PATENTS GRANTED PER YEAR FROM 2012 TO 2021    86
TABLE 13    LIST OF SOME PATENTS IN MACHINE CONDITIONING MONITORING MARKET    86
5.13    REGULATORY LANDSCAPE    87
5.13.1    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS RELATED TO MARKET UNDER STUDY    87
TABLE 14    NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    87
TABLE 15    EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    88
TABLE 16    ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    88
5.13.2    STANDARDS AND REGULATIONS RELATED TO MARKET    88
5.13.2.1    API    88
5.13.2.2    ASTM    89
5.13.2.3    ISO    89
5.13.2.4    MIMOSA    90
5.13.3    SAFETY STANDARDS FOR MCMM    91
TABLE 17    SAFETY STANDARDS FOR MCMM    91
5.14    KEY STAKEHOLDERS AND BUYING CRITERIA    91
5.14.1    KEY STAKEHOLDERS IN BUYING PROCESS    91
FIGURE 35    INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE INDUSTRIES    91
TABLE 18    INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE INDUSTRIES (%)    92
5.14.2    BUYING CRITERIA    92
FIGURE 36    KEY BUYING CRITERIA FOR TOP THREE INDUSTRIES    92
TABLE 19    KEY BUYING CRITERIA FOR TOP THREE INDUSTRIES    92
6    APPLICATIONS OF MACHINE CONDITION MONITORING SYSTEMS    93
6.1    INTRODUCTION    93
FIGURE 37    MACHINE CONDITION MONITORING IS MAINLY USED FOR PUMPS    93
6.2    PUMPS    94
6.3    CHILLERS    94
6.4    MOTORS    94
6.5    BEARINGS    95
6.6    OTHERS    95
7    PROCUREMENT OF MACHINE CONDITION MONITORING EQUIPMENT    96
7.1    INTRODUCTION    96
FIGURE 38    ORIGINAL EQUIPMENT MANUFACTURERS COMMAND MACHINE CONDITION MONITORING MARKET    96
7.2    ORIGINAL EQUIPMENT MANUFACTURERS    96
7.3    END USERS    96
8    MACHINE CONDITION MONITORING MARKET,  BY MONITORING TECHNIQUE    97
8.1    INTRODUCTION    98
FIGURE 39    MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE    98
FIGURE 40    VIBRATION MONITORING TECHNIQUE TO ACCOUNT FOR LARGEST SHARE OF MACHINE CONDITION MONITORING MARKET FROM 2022 TO 2027    99
TABLE 20    MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE,  2018–2021 (USD MILLION)    99
TABLE 21    MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE,  2022–2027 (USD MILLION)    99
8.2    VIBRATION MONITORING    100
FIGURE 41    VIBRATION MONITORING MARKET, BY SYSTEM TYPE, 2021    101
8.2.1    EMBEDDED SYSTEMS    101
8.2.1.1    Embedded systems are increasingly deployed in power generation and oil & gas industries    101
8.2.2    VIBRATION ANALYZERS AND METERS    101
8.2.2.1    Vibration analyzers record data with greater precision by identifying vibration acceleration, vibration velocity, and vibration displacement parameters    101
TABLE 22    VIBRATION MONITORING MARKET, BY OFFERING,
2018–2021 (USD MILLION)    102
TABLE 23    VIBRATION MONITORING MARKET, BY OFFERING,
2022–2027 (USD MILLION)    102
TABLE 24    VIBRATION MONITORING MARKET, BY MONITORING PROCESS,  
2018–2021 (USD MILLION)    102
TABLE 25    VIBRATION MONITORING MARKET, BY MONITORING PROCESS,  
2022–2027 (USD MILLION)    102
TABLE 26    VIBRATION MONITORING MARKET, BY INDUSTRY,
2018–2021 (USD MILLION)    103
TABLE 27    VIBRATION MONITORING MARKET, BY INDUSTRY,
2022–2027 (USD MILLION)    103
8.3    THERMOGRAPHY    104
8.3.1    THERMOGRAPHY TECHNIQUE IS USEFUL IN DETECTING SEVERAL ISSUES SUCH AS FAULTY FUSE AND INSULATION FAILURES    104
FIGURE 42    ONLINE CONDITION MONITORING PROCESS TO DOMINATE MARKET FOR THERMOGRAPHY TECHNIQUE FROM 2022 TO 2027    105
TABLE 28    THERMOGRAPHY MARKET, BY OFFERING, 2018–2021 (USD MILLION)    105
TABLE 29    THERMOGRAPHY MARKET, BY OFFERING, 2022–2027 (USD MILLION)    105
TABLE 30    THERMOGRAPHY MARKET, BY MONITORING PROCESS,
2018–2021 (USD MILLION)    106
TABLE 31    THERMOGRAPHY MARKET, BY MONITORING PROCESS,
2022–2027 (USD MILLION)    106
TABLE 32    THERMOGRAPHY MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)    106
TABLE 33    THERMOGRAPHY MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)    107
8.4    OIL ANALYSIS    107
8.4.1    OIL ANALYSIS TECHNIQUE IS USED TO ANALYZE MACHINE WEAR AND QUALITY OF MACHINERY LUBRICANTS    107
FIGURE 43    ADVANTAGES OF OIL ANALYSIS TECHNIQUE    108
TABLE 34    OIL ANALYSIS MARKET, BY OFFERING, 2018–2021 (USD MILLION)    109
TABLE 35    OIL ANALYSIS MARKET, BY OFFERING, 2022–2027 (USD MILLION)    109
TABLE 36    OIL ANALYSIS MARKET, BY MONITORING PROCESS,
2018–2021 (USD MILLION)    109
TABLE 37    OIL ANALYSIS MARKET, BY MONITORING PROCESS,
2022–2027 (USD MILLION)    109
TABLE 38    OIL ANALYSIS MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)    110
TABLE 39    OIL ANALYSIS MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)    110
8.5    CORROSION MONITORING    111
8.5.1    CORROSION MONITORING IS PRIMARILY APPLICABLE TO BOILERS, VACUUM TOWERS, CRUDE OIL SYSTEMS, AND TRANSPORTATION PIPELINES    111
TABLE 40    CORROSION MONITORING MARKET, BY OFFERING,
2018–2021 (USD MILLION)    111
TABLE 41    CORROSION MONITORING MARKET, BY OFFERING,
2022–2027 (USD MILLION)    112
TABLE 42    CORROSION MONITORING MARKET, BY MONITORING PROCESS,  
2018–2021 (USD MILLION)    112
TABLE 43    CORROSION MONITORING MARKET, BY MONITORING PROCESS,  
2022–2027 (USD MILLION)    112
TABLE 44    CORROSION MONITORING MARKET, BY INDUSTRY,
2018–2021 (USD MILLION)    113
TABLE 45    CORROSION MONITORING MARKET, BY INDUSTRY,
2022–2027 (USD MILLION)    113
8.6    ULTRASOUND EMISSION    114
8.6.1    ULTRASOUND EMISSION MONITORING HELPS DETECT DEFECTS IN ELECTRIC EQUIPMENT    114
TABLE 46    ULTRASOUND EMISSION MARKET, BY OFFERING,
 2018–2021 (USD MILLION)    114
TABLE 47    ULTRASOUND EMISSION MARKET, BY OFFERING,
2022–2027 (USD MILLION)    115
TABLE 48    ULTRASOUND EMISSION MARKET, BY MONITORING PROCESS,  
2018–2021 (USD MILLION)    115
TABLE 49    ULTRASOUND EMISSION MARKET, BY MONITORING PROCESS,  
2022–2027 (USD MILLION)    115
TABLE 50    ULTRASOUND EMISSION MARKET, BY INDUSTRY,
 2018–2021 (USD MILLION)    116
TABLE 51    ULTRASOUND EMISSION MARKET, BY INDUSTRY,
2022–2027 (USD MILLION)    116
8.7    MOTOR CURRENT ANALYSIS    117
8.7.1    MOTOR CURRENT ANALYSIS MONITORING TECHNIQUE IS USEFUL FOR EARLY DETECTION OF FAULTS    117
FIGURE 44    SPECTRUM ANALYZERS TO ACCOUNT FOR LARGEST MARKET SHARE FOR MOTOR CURRENT ANALYSIS TECHNIQUE FROM 2022 TO 2027    118
TABLE 52    MOTOR CURRENT ANALYSIS MARKET, BY OFFERING,
2018–2021 (USD MILLION)    118
TABLE 53    MOTOR CURRENT ANALYSIS MARKET, BY OFFERING,
2022–2027 (USD MILLION)    118
TABLE 54    MOTOR CURRENT ANALYSIS MARKET, BY MONITORING PROCESS,
 2018–2021 (USD MILLION)    119
TABLE 55    MOTOR CURRENT ANALYSIS MARKET, BY MONITORING PROCESS,
 2022–2027 (USD MILLION)    119
TABLE 56    MOTOR CURRENT ANALYSIS MARKET, BY INDUSTRY,
2018–2021 (USD MILLION)    119
TABLE 57    MOTOR CURRENT ANALYSIS MARKET, BY INDUSTRY,
2022–2027 (USD MILLION)    120
9    MACHINE CONDITION MONITORING MARKET, BY OFFERING    121
9.1    INTRODUCTION    122
FIGURE 45    MACHINE CONDITION MONITORING MARKET, BY OFFERING    122
FIGURE 46    HARDWARE SEGMENT TO ACCOUNT FOR LARGER SHARE OF MACHINE CONDITION MONITORING MARKET FROM 2022 TO 2027    123
TABLE 58    MACHINE CONDITION MONITORING MARKET, BY OFFERING,
2018–2021 (USD MILLION)    123
TABLE 59    MACHINE CONDITION MONITORING MARKET, BY OFFERING,
2022–2027 (USD MILLION)    123
9.2    HARDWARE    124
TABLE 60    MACHINE CONDITION MONITORING HARDWARE MARKET, BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    124
TABLE 61    MACHINE CONDITION MONITORING HARDWARE MARKET, BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    124
TABLE 62    MACHINE CONDITION MONITORING HARDWARE MARKET, BY TYPE,
 2018–2021 (USD MILLION)    125
TABLE 63    MACHINE CONDITION MONITORING HARDWARE MARKET, BY TYPE,  
2022–2027 (USD MILLION)    125
9.2.1    VIBRATION SENSORS    126
9.2.1.1    Accelerometers    126
9.2.1.1.1    Increased use of accelerometers in industrial plants to analyze vibrations in rotating machinery tools    126
9.2.1.2    Proximity probes    126
9.2.1.2.1    High demand for proximity probes to carry out accurate displacement measurements of devices    126
9.2.1.3    Tachometers    127
9.2.1.3.1    Surged adoption of tachometers to measure speed of rotating machines efficiently    127
9.2.2    INFRARED SENSORS    127
9.2.2.1    Thermal infrared sensors    127
9.2.2.1.1    Growing use of thermal infrared sensors to detect possible faults in machines triggered by heat    127
9.2.2.2    Quantum infrared sensors    127
9.2.2.2.1    Elevating need for quantum infrared sensors to monitor temperature variations in machines    127
9.2.3    SPECTROMETERS    128
9.2.3.1    Infrared spectrometers    128
9.2.3.1.1    Elevating demand for infrared spectrometers to identify varieties of materials    128
9.2.3.2    Ultraviolet spectrometers    128
9.2.3.2.1    Increasing consumption of ultraviolet spectrometers to carry out oil analysis    128
9.2.3.3    Atomic spectrometers    128
9.2.3.3.1    Growing utilization of atomic spectrometers by several industries to effectively identify foreign particles in oil samples    128
9.2.3.4    Mass spectrometers    129
9.2.3.4.1    Rising use of mass spectrometers to recognize contaminating compounds in lubricating oil samples    129
9.2.4    ULTRASOUND DETECTORS    129
9.2.4.1    Sound pressure meters    129
9.2.4.1.1    Elevating demand for sound pressure meters for hassle-free noise-level measurements    129
9.2.4.2    Stethoscopes    129
9.2.4.2.1    Rising consumption of stethoscopes to monitor noise levels in machine components    129
9.2.4.3    Ultrasound leak detectors    130
9.2.4.3.1    Surging adoption of ultrasound leak detectors to identify leakages in vacuum and compressed air systems    130
9.2.5    SPECTRUM ANALYZERS    130
9.2.5.1    Swept spectrum analyzers    130
9.2.5.1.1    Significant use of swept spectrum analyzers to evaluate frequency of faulty machine parts    130
9.2.5.2    Real-time spectrum analyzers    130
9.2.5.2.1    Increased adoption of real-time spectrum analyzers for motor current analysis    130
9.2.6    CORROSION PROBES    130
9.2.6.1    Corrosion probes are deployed in several industries to monitor and evaluate corrosion rate in equipment    130
9.2.7    OTHERS    131
9.3    SOFTWARE    131
TABLE 64    LIST OF MACHINE CONDITION MONITORING SOFTWARE PROVIDERS AND THEIR HEADQUARTERS    131
TABLE 65    MACHINE CONDITION MONITORING SOFTWARE MARKET, BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    132
TABLE 66    MACHINE CONDITION MONITORING SOFTWARE MARKET, BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    133
9.3.1    DATA INTEGRATION    133
9.3.1.1    Data integration is vital for careful analysis of machine health    133
9.3.2    DIAGNOSTIC REPORTING    133
9.3.2.1    Diagnostic reporting enables generation of extensive data necessary to monitor machine condition    133
9.3.3    ORDER TRACKING ANALYSIS    133
9.3.3.1    Order tracking analysis is important to record changes in signal amplitude measurements    133
9.3.4    PARAMETER CALCULATION    134
9.3.4.1    Parameter calculation supports scheduling maintenance activities in advance    134
9.4    SERVICES    134
9.4.1    ROUTE-BASED MONITORING    134
9.4.1.1    Route monitoring supports predictive maintenance of machines in plants    134
9.4.2    INTEGRATED MONITORING    135
9.4.2.1    Integrated monitoring services include providing data necessary to carry out preventive maintenance activities in advance    135
9.4.3    CONTINUOUS REMOTE MONITORING    135
9.4.3.1    Continuous remote monitoring helps in efficient and real-time monitoring of machine condition    135
10    MACHINE CONDITION MONITORING MARKET,  BY DEPLOYMENT TYPE    136
10.1    INTRODUCTION    137
FIGURE 47    MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT TYPE    137
FIGURE 48    ON-PREMISES DEPLOYMENT TYPE TO CONTRIBUTE LARGER SHARE OF MACHINE CONDITION MONITORING MARKET IN 2022    137
TABLE 67    MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT TYPE,
 2018–2021 (USD MILLION)    138
TABLE 68    MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT TYPE,  
2022–2027 (USD MILLION)    138
10.2    ON-PREMISES    139
10.2.1    RISING PREFERENCE FOR HIGHLY SECURE ON-PREMISES DEPLOYMENT TO ACCELERATE MARKET GROWTH    139
FIGURE 49    LIMITATIONS OF ON-PREMISES DEPLOYMENT    139
10.3    CLOUD    140
10.3.1    GROWING REQUIREMENT FOR REMOTE MONITORING TO SUPPORT DEMAND FOR CLOUD DEPLOYMENT    140
FIGURE 50    ADVANTAGES OF CLOUD DEPLOYMENT    140
11    MACHINE CONDITION MONITORING MARKET,  BY MONITORING PROCESS    141
11.1    INTRODUCTION    142
FIGURE 51    MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS    142
FIGURE 52    ONLINE CONDITION MONITORING PROCESS TO LEAD MACHINE CONDITION MONITORING MARKET FROM 2022 TO 2027    142
TABLE 69    MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS,  2018–2021 (USD MILLION)    143
TABLE 70    MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS,  2022–2027 (USD MILLION)    143
11.2    ONLINE CONDITION MONITORING    144
11.2.1    PLANT OPERATORS OBTAIN REAL-TIME EQUIPMENT HEALTH INSIGHTS USING ONLINE CONDITION MONITORING SYSTEMS    144
FIGURE 53    MOTOR CURRENT ANALYSIS TECHNIQUE TO EXHIBIT HIGHEST CAGR IN ONLINE MACHINE CONDITION MONITORING MARKET FROM 2022 TO 2027    144
TABLE 71    ONLINE MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    145
TABLE 72    ONLINE MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    145
TABLE 73    ONLINE MACHINE CONDITION MONITORING MARKET, BY INDUSTRY,
 2018–2021 (USD MILLION)    145
TABLE 74    ONLINE MACHINE CONDITION MONITORING MARKET, BY INDUSTRY,  
2022–2027 (USD MILLION)    146
11.3    PORTABLE CONDITION MONITORING    146
11.3.1    PORTABLE CONDITION MONITORING IS COST-EFFECTIVE AND MAXIMIZES PRODUCTION OUTPUT    146
TABLE 75    PORTABLE MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    147
TABLE 76    PORTABLE MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    147
TABLE 77    PORTABLE MACHINE CONDITION MONITORING MARKET, BY INDUSTRY,  2018–2021 (USD MILLION)    147
TABLE 78    PORTABLE MACHINE CONDITION MONITORING MARKET, BY INDUSTRY,  2022–2027 (USD MILLION)    148
12    MACHINE CONDITION MONITORING MARKET, BY INDUSTRY    149
12.1    INTRODUCTION    150
FIGURE 54    MACHINE CONDITION MONITORING MARKET, BY INDUSTRY    150
FIGURE 55    AUTOMOTIVE INDUSTRY TO RECORD HIGHEST CAGR IN MACHINE CONDITION MONITORING MARKET FROM 2022 TO 2027    151
TABLE 79    MACHINE CONDITION MONITORING MARKET, BY INDUSTRY,
 2018–2021 (USD MILLION)    151
TABLE 80    MACHINE CONDITION MONITORING MARKET, BY INDUSTRY,
2022–2027 (USD MILLION)    152
12.2    OIL & GAS    153
12.2.1    SURGING ADOPTION OF SMART FACTORY TECHNOLOGIES BY OIL & GAS COMPANIES TO CREATE REQUIREMENT FOR MACHINE CONDITION MONITORING SYSTEMS    153
FIGURE 56    ONLINE CONDITION MONITORING SEGMENT TO CAPTURE LARGER MARKET SHARE FOR OIL & GAS INDUSTRY IN 2027    154
TABLE 81    MACHINE CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY,
BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    154
TABLE 82    MACHINE CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY,
BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    154
TABLE 83    MACHINE CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY, BY MONITORING PROCESS, 2018–2021 (USD MILLION)    155
TABLE 84    MACHINE CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY,
BY MONITORING PROCESS, 2022–2027 (USD MILLION)    155
TABLE 85    MACHINE CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY, BY REGION, 2018–2021 (USD MILLION)    155
TABLE 86    MACHINE CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY, BY REGION, 2022–2027 (USD MILLION)    155
12.3    POWER GENERATION    156
12.3.1    INCREASING INVESTMENTS IN SUSTAINABLE ENERGY TO ACCELERATE DEMAND FOR MACHINE CONDITION MONITORING SYSTEMS BY POWER GENERATION INDUSTRY    157
TABLE 87    MACHINE CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY,  BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    157
TABLE 88    MACHINE CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY,  BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    157
TABLE 89    MACHINE CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY,  BY MONITORING PROCESS, 2018–2021 (USD MILLION)    158
TABLE 90    MACHINE CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY,  BY MONITORING PROCESS, 2022–2027 (USD MILLION)    158
TABLE 91    MACHINE CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY,  BY REGION, 2018–2021 (USD MILLION)    158
TABLE 92    MACHINE CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY,  BY REGION, 2022–2027 (USD MILLION)    158
12.4    METALS & MINING    159
12.4.1    RISING CONSUMPTION OF VIBRATION SENSORS IN MINING INDUSTRY SUPPORTS MARKET GROWTH    159
FIGURE 57    VIBRATION MONITORING TECHNIQUE TO ACCOUNT FOR LARGEST MARKET SHARE FOR METALS & MINING INDUSTRY IN 2022    160
TABLE 93    MACHINE CONDITION MONITORING MARKET FOR METALS & MINING INDUSTRY,  BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    160
TABLE 94    MACHINE CONDITION MONITORING MARKET FOR METALS & MINING INDUSTRY,  BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    160
TABLE 95    MACHINE CONDITION MONITORING MARKET FOR METALS & MINING INDUSTRY,  BY MONITORING PROCESS, 2018–2021 (USD MILLION)    161
TABLE 96    MACHINE CONDITION MONITORING MARKET FOR METALS & MINING INDUSTRY,  BY MONITORING PROCESS, 2022–2027 (USD MILLION)    161
TABLE 97    MACHINE CONDITION MONITORING MARKET FOR METALS & MINING INDUSTRY,  BY REGION, 2018–2021 (USD MILLION)    161
TABLE 98    MACHINE CONDITION MONITORING MARKET FOR METALS & MINING INDUSTRY,  BY REGION, 2022–2027 (USD MILLION)    161
12.5    CHEMICALS    162
12.5.1    GROWING IMPLEMENTATION OF CONDITION MONITORING SOLUTIONS IN CHEMICALS INDUSTRY TO FUEL MARKET GROWTH    162
TABLE 99    MACHINE CONDITION MONITORING MARKET FOR CHEMICALS INDUSTRY,
 BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    163
TABLE 100    MACHINE CONDITION MONITORING MARKET FOR CHEMICALS INDUSTRY,  
BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    163
TABLE 101    MACHINE CONDITION MONITORING MARKET FOR CHEMICALS INDUSTRY,  
BY MONITORING PROCESS, 2018–2021 (USD MILLION)    163
TABLE 102    MACHINE CONDITION MONITORING MARKET FOR CHEMICALS INDUSTRY,  BY MONITORING PROCESS, 2022–2027 (USD MILLION)    164
TABLE 103    MACHINE CONDITION MONITORING MARKET FOR CHEMICALS INDUSTRY, BY REGION, 2018–2021 (USD MILLION)    164
TABLE 104    MACHINE CONDITION MONITORING MARKET FOR CHEMICALS INDUSTRY,
BY REGION, 2022–2027 (USD MILLION)    164
12.6    AUTOMOTIVE    165
12.6.1    INCREASING FOCUS OF PLANT MANAGERS TO ADOPT IIOT FOR EFFECTIVE INSPECTION OF CRITICAL MACHINERY AND PLANNING OF MAINTENANCE IN ADVANCE    165
TABLE 105    MACHINE CONDITION MONITORING MARKET FOR AUTOMOTIVE INDUSTRY,  BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    165
TABLE 106    MACHINE CONDITION MONITORING MARKET FOR AUTOMOTIVE INDUSTRY,  BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    166
TABLE 107    MACHINE CONDITION MONITORING MARKET FOR AUTOMOTIVE INDUSTRY,  BY MONITORING PROCESS, 2018–2021 (USD MILLION)    166
TABLE 108    MACHINE CONDITION MONITORING MARKET FOR AUTOMOTIVE INDUSTRY, BY MONITORING PROCESS, 2022–2027 (USD MILLION)    166
TABLE 109    MACHINE CONDITION MONITORING MARKET FOR AUTOMOTIVE INDUSTRY, BY REGION, 2018–2021 (USD MILLION)    167
TABLE 110    MACHINE CONDITION MONITORING MARKET FOR AUTOMOTIVE INDUSTRY, BY REGION, 2022–2027 (USD MILLION)    167
12.7    AEROSPACE    167
12.7.1    EMERGING USE CASES OF INDUSTRY 4.0 IN AEROSPACE TO STIMULATE DEMAND FOR MACHINE MONITORING SOLUTIONS    168
TABLE 111    MACHINE CONDITION MONITORING MARKET FOR AEROSPACE INDUSTRY,  BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    168
TABLE 112    MACHINE CONDITION MONITORING MARKET FOR AEROSPACE INDUSTRY,  
BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    169
TABLE 113    MACHINE CONDITION MONITORING MARKET FOR AEROSPACE INDUSTRY,
 BY MONITORING PROCESS, 2018–2021 (USD MILLION)    169
TABLE 114    MACHINE CONDITION MONITORING MARKET FOR AEROSPACE INDUSTRY,  BY MONITORING PROCESS, 2022–2027 (USD MILLION)    169
TABLE 115    MACHINE CONDITION MONITORING MARKET FOR AEROSPACE INDUSTRY,
BY REGION, 2018–2021 (USD MILLION)    170
TABLE 116    MACHINE CONDITION MONITORING MARKET FOR AEROSPACE INDUSTRY, BY REGION, 2022–2027 (USD MILLION)    170
12.8    FOOD & BEVERAGES    170
12.8.1    AMPLIFYING AUTOMATION SUCCESS IN FOOD & BEVERAGES INDUSTRY TO PROPEL MACHINE CONDITION MONITORING MARKET GROWTH    171
TABLE 117    MACHINE CONDITION MONITORING MARKET FOR FOOD & BEVERAGES INDUSTRY,  BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    171
TABLE 118    MACHINE CONDITION MONITORING MARKET FOR FOOD & BEVERAGES INDUSTRY,  BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    172
TABLE 119    MACHINE CONDITION MONITORING MARKET FOR FOOD & BEVERAGES INDUSTRY,  BY MONITORING PROCESS, 2018–2021 (USD MILLION)    172
TABLE 120    MACHINE CONDITION MONITORING MARKET FOR FOOD & BEVERAGES INDUSTRY,  BY MONITORING PROCESS, 2022–2027 (USD MILLION)    172
TABLE 121    MACHINE CONDITION MONITORING MARKET FOR FOOD & BEVERAGES INDUSTRY,  BY REGION, 2018–2021 (USD MILLION)    173
TABLE 122    MACHINE CONDITION MONITORING MARKET FOR FOOD & BEVERAGES INDUSTRY,  BY REGION, 2022–2027 (USD MILLION)    173
12.9    MARINE    173
12.9.1    INCREASING IMPORTANCE OF PREDICTIVE MAINTENANCE IN MARINE INDUSTRY TO PROPEL GROWTH OF MACHINE CONDITION MONITORING MARKET    174
FIGURE 58    ONLINE CONDITION MONITORING PROCESS TO ACCOUNT FOR LARGER MARKET SHARE FOR MARINE INDUSTRY IN 2027    174
TABLE 123    MACHINE CONDITION MONITORING MARKET FOR MARINE INDUSTRY,
BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    174
TABLE 124    MACHINE CONDITION MONITORING MARKET FOR MARINE INDUSTRY, BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    175
TABLE 125    MACHINE CONDITION MONITORING MARKET FOR MARINE INDUSTRY, BY MONITORING PROCESS, 2018–2021 (USD MILLION)    175
TABLE 126    MACHINE CONDITION MONITORING MARKET FOR MARINE INDUSTRY,
BY MONITORING PROCESS, 2022–2027 (USD MILLION)    175
TABLE 127    MACHINE CONDITION MONITORING MARKET FOR MARINE INDUSTRY,
BY REGION,  2018–2021 (USD MILLION)    176
TABLE 128    MACHINE CONDITION MONITORING MARKET FOR MARINE INDUSTRY, BY REGION,  2022–2027 (USD MILLION)    176
12.10    OTHERS    176
TABLE 129    MACHINE CONDITION MONITORING MARKET FOR OTHER INDUSTRIES, BY MONITORING TECHNIQUE, 2018–2021 (USD MILLION)    177
TABLE 130    MACHINE CONDITION MONITORING MARKET FOR OTHER INDUSTRIES, BY MONITORING TECHNIQUE, 2022–2027 (USD MILLION)    177
TABLE 131    MACHINE CONDITION MONITORING MARKET FOR OTHER INDUSTRIES,
BY MONITORING PROCESS, 2018–2021 (USD MILLION)    177
TABLE 132    MACHINE CONDITION MONITORING MARKET FOR OTHER INDUSTRIES,
BY MONITORING PROCESS, 2022–2027 (USD MILLION)    178
TABLE 133    MACHINE CONDITION MONITORING MARKET FOR OTHER INDUSTRIES, BY REGION, 2018–2021 (USD MILLION)    178
TABLE 134    MACHINE CONDITION MONITORING MARKET FOR OTHER INDUSTRIES, BY REGION, 2022–2027 (USD MILLION)    178"
"13    GEOGRAPHIC ANALYSIS    179
13.1    INTRODUCTION    180
FIGURE 59    MACHINE CONDITION MONITORING MARKET IN INDIA TO GROW AT HIGHEST CAGR FROM 2022 TO 2027    180
TABLE 135    MACHINE CONDITION MONITORING MARKET, BY REGION,
2018–2021 (USD MILLION)    181
TABLE 136    MACHINE CONDITION MONITORING MARKET, BY REGION,
 2022–2027 (USD MILLION)    181
13.2    NORTH AMERICA    182
FIGURE 60    SNAPSHOT: MACHINE CONDITION MONITORING MARKET IN NORTH AMERICA    183
TABLE 137    MACHINE CONDITION MONITORING MARKET IN NORTH AMERICA, BY INDUSTRY,  2018–2021 (USD MILLION)    183
TABLE 138    MACHINE CONDITION MONITORING MARKET IN NORTH AMERICA, BY INDUSTRY,  2022–2027 (USD MILLION)    184
TABLE 139    MACHINE CONDITION MONITORING MARKET IN NORTH AMERICA,
BY COUNTRY,  2018–2021 (USD MILLION)    184
TABLE 140    MACHINE CONDITION MONITORING MARKET IN NORTH AMERICA,
BY COUNTRY,  2022–2027 (USD MILLION)    184
13.2.1    US    185
13.2.1.1    Growing adoption of Industry 4.0 by manufacturers in US to accelerate demand for condition monitoring solutions    185
13.2.2    CANADA    185
13.2.2.1    Increasing deployment of smart factory solutions to support machine condition monitoring market growth in Canada    185
13.2.3    MEXICO    186
13.2.3.1    Rising demand for automation solutions in Mexico to create potential opportunities for providers of machine condition monitoring solutions    186
13.3    EUROPE    186
FIGURE 61    SNAPSHOT: MACHINE CONDITION MONITORING MARKET IN EUROPE    187
TABLE 141    MACHINE CONDITION MONITORING MARKET IN EUROPE, BY INDUSTRY,  2018–2021 (USD MILLION)    188
TABLE 142    MACHINE CONDITION MONITORING MARKET IN EUROPE, BY INDUSTRY,  2022–2027 (USD MILLION)    188
TABLE 143    MACHINE CONDITION MONITORING MARKET IN EUROPE, BY COUNTRY,  2018–2021 (USD MILLION)    189
TABLE 144    MACHINE CONDITION MONITORING MARKET IN EUROPE, BY COUNTRY,  2022–2027 (USD MILLION)    189
13.3.1    GERMANY    190
13.3.1.1    Rising focus of government and private firms on investing in trending and emerging technologies, such as Industry 4.0, contributes to market growth    190
13.3.2    UK    190
13.3.2.1    Increasing use of IoT devices by manufacturing companies to foster demand for machine condition monitoring systems    190
13.3.3    FRANCE    191
13.3.3.1    Growing focus on adoption of modern technologies to automate production plants to fuel requirement for machine condition monitoring systems    191
13.3.4    REST OF EUROPE    191
13.4    ASIA PACIFIC    191
FIGURE 62    SNAPSHOT: MACHINE CONDITION MONITORING MARKET IN ASIA PACIFIC    192
TABLE 145    MACHINE CONDITION MONITORING MARKET IN ASIA PACIFIC, BY INDUSTRY,  2018–2021 (USD MILLION)    193
TABLE 146    MACHINE CONDITION MONITORING MARKET IN ASIA PACIFIC, BY INDUSTRY,  2022–2027 (USD MILLION)    193
TABLE 147    MACHINE CONDITION MONITORING MARKET IN ASIA PACIFIC, BY COUNTRY,  2018–2021 (USD MILLION)    194
TABLE 148    MACHINE CONDITION MONITORING MARKET IN ASIA PACIFIC, BY COUNTRY,  2022–2027 (USD MILLION)    194
13.4.1    CHINA    194
13.4.1.1    Increasing labor costs would encourage use of cost-effective and reliable machine condition monitoring systems    194
13.4.2    JAPAN    195
13.4.2.1    Growing focus on development of high-quality vehicles using automation solutions to drive machine condition monitoring market    195
13.4.3    INDIA    195
13.4.3.1    Rising number of government initiatives encouraging implementation of digital and automation technologies in manufacturing to augment market growth    195
13.4.4    REST OF ASIA PACIFIC    196
13.5    REST OF THE WORLD (ROW)    196
TABLE 149    MACHINE CONDITION MONITORING MARKET IN ROW, BY INDUSTRY,  
2018–2021 (USD MILLION)    196
TABLE 150    MACHINE CONDITION MONITORING MARKET IN ROW, BY INDUSTRY,  
2022–2027 (USD MILLION)    197
TABLE 151    MACHINE CONDITION MONITORING MARKET IN ROW, BY REGION,
  2018–2021 (USD MILLION)    197
TABLE 152    MACHINE CONDITION MONITORING MARKET IN ROW, BY REGION,  
2022–2027 (USD MILLION)    197
13.5.1    MIDDLE EAST    198
TABLE 153    MACHINE CONDITION MONITORING MARKET IN MIDDLE EAST, BY COUNTRY,  2018–2021 (USD MILLION)    198
TABLE 154    MACHINE CONDITION MONITORING MARKET IN MIDDLE EAST, BY COUNTRY,  2022–2027 (USD MILLION)    198
13.5.1.1    Saudi Arabia    199
13.5.1.1.1    Saudi Arabia is positioned as key contributor to market growth in Middle East    199
13.5.1.2    UAE    199
13.5.1.2.1    Presence of major oil and gas companies in UAE supports market growth    199
13.5.1.3    Rest of Middle East    199
13.5.2    AFRICA    199
13.5.2.1    Mining industry to contribute significantly to machine condition monitoring market growth    199
13.5.3    SOUTH AMERICA    199
13.5.3.1    Foreign investments in energy sector to fuel market growth in Brazil    199
14    COMPETITIVE LANDSCAPE    201
14.1    INTRODUCTION    201
14.2    KEY PLAYER STRATEGIES/RIGHT TO WIN    201
TABLE 155    OVERVIEW OF STRATEGIES ADOPTED BY VENDORS OF MACHINE CONDITION MONITORING SOLUTIONS    201
14.3    REVENUE ANALYSIS OF TOP COMPANIES    202
FIGURE 63    FIVE-YEAR REVENUE ANALYSIS OF TOP PLAYERS IN MACHINE CONDITION MONITORING MARKET    202
14.4    MARKET SHARE ANALYSIS, 2021    203
TABLE 156    MARKET SHARE OF TOP FIVE PLAYERS IN MACHINE CONDITION MONITORING MARKET IN 2021    203
14.5    COMPETITIVE EVALUATION QUADRANT    204
14.5.1    STAR    204
14.5.2    EMERGING LEADER    204
14.5.3    PERVASIVE    205
14.5.4    PARTICIPANT    205
FIGURE 64    MACHINE CONDITION MONITORING MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2021    205
14.6    SMALL- AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION QUADRANT, 2021    206
14.6.1    PROGRESSIVE    206
14.6.2    RESPONSIVE    206
14.6.3    DYNAMIC    206
14.6.4    STARTING BLOCK    206
FIGURE 65    MACHINE CONDITION MONITORING MARKET (GLOBAL) SME EVALUATION QUADRANT, 2021    207
14.7    COMPANY FOOTPRINT    207
TABLE 157    COMPANY FOOTPRINT    207
TABLE 158    COMPANY OFFERING FOOTPRINT    208
TABLE 159    COMPANY INDUSTRY FOOTPRINT    209
TABLE 160    COMPANY REGION FOOTPRINT    210
14.8    COMPETITIVE BENCHMARKING    211
TABLE 161    MACHINE CONDITION MONITORING MARKET: DETAILED LIST OF KEYS STARTUP/SMES    211
TABLE 162    MACHINE CONDITION MONITORING MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUP/SMES    212
14.9    COMPETITIVE SCENARIO    212
TABLE 163    MACHINE CONDITION MONITORING MARKET: PRODUCT LAUNCHES, 2020−2021    212
TABLE 164    MACHINE CONDITION MONITORING MARKET: DEALS, 2020–2021    214
15    COMPANY PROFILES    216
15.1    KEY PLAYERS    216
(Business overview, Products/services/solutions offered, Recent developments, MnM view, Key strengths, Strategic choices, and Weaknesses and competitive threats)*
15.1.1    EMERSON ELECTRIC    216
TABLE 165    EMERSON ELECTRIC: BUSINESS OVERVIEW    216
FIGURE 66    EMERSON ELECTRIC: COMPANY SNAPSHOT    217
TABLE 166    EMERSON ELECTRIC: PRODUCT OFFERINGS    217
TABLE 167    EMERSON ELECTRIC: PRODUCT LAUNCHES    218
15.1.2    GENERAL ELECTRIC    220
TABLE 168    GENERAL ELECTRIC: BUSINESS OVERVIEW    220
FIGURE 67    GENERAL ELECTRIC: COMPANY SNAPSHOT    221
TABLE 169    GENERAL ELECTRIC: PRODUCT OFFERINGS    221
TABLE 170    GENERAL ELECTRIC: PRODUCT LAUNCHES    222
TABLE 171    GENERAL ELECTRIC: DEALS    222
15.1.3    HONEYWELL INTERNATIONAL    224
TABLE 172    HONEYWELL INTERNATIONAL: BUSINESS OVERVIEW    224
FIGURE 68    HONEYWELL INTERNATIONAL: COMPANY SNAPSHOT    225
TABLE 173    HONEYWELL INTERNATIONAL: PRODUCT OFFERINGS    225
TABLE 174    HONEYWELL INTERNATIONAL: DEALS    226
15.1.4    NATIONAL INSTRUMENTS    227
TABLE 175    NATIONAL INSTRUMENTS: BUSINESS OVERVIEW    227
FIGURE 69    NATIONAL INSTRUMENTS: COMPANY SNAPSHOT    228
TABLE 176    NATIONAL INSTRUMENTS: PRODUCTS OFFERED    228
TABLE 177    NATIONAL INSTRUMENTS: DEALS    229
15.1.5    SKF    230
TABLE 178    SKF: BUSINESS OVERVIEW    230
FIGURE 70    SKF: COMPANY SNAPSHOT    231
TABLE 179    SKF: PRODUCT OFFERINGS    231
TABLE 180    SKF: PRODUCT LAUNCHES    232
TABLE 181    SKF: DEALS    232
15.1.6    ALS    233
TABLE 182    ALS: BUSINESS OVERVIEW    233
FIGURE 71    ALS: COMPANY SNAPSHOT    234
TABLE 183    ALS: PRODUCT OFFERINGS    234
15.1.7    WILCOXON SENSING TECHNOLOGIES    235
TABLE 184    WILCOXON SENSING TECHNOLOGIES: BUSINESS OVERVIEW    235
TABLE 185    WILCOXON SENSING TECHNOLOGIES: PRODUCT OFFERINGS    235
TABLE 186    WILCOXON SENSING TECHNOLOGIES: OTHERS    236
15.1.8    PARKER HANNIFIN    237
TABLE 187    PARKER HANNIFIN: BUSINESS OVERVIEW    237
FIGURE 72    PARKER HANNIFIN: COMPANY SNAPSHOT    238
TABLE 188    PARKER HANNIFIN: PRODUCT OFFERINGS    238
15.1.9    ROCKWELL AUTOMATION    240
TABLE 189    ROCKWELL AUTOMATION: BUSINESS OVERVIEW    240
FIGURE 73    ROCKWELL AUTOMATION: COMPANY SNAPSHOT    241
TABLE 190    ROCKWELL AUTOMATION: PRODUCT OFFERINGS    241
15.1.10    SCHAEFFLER GROUP    242
TABLE 191    SCHAEFFLER GROUP: BUSINESS OVERVIEW    242
FIGURE 74    SCHAEFFLER GROUP: COMPANY SNAPSHOT    243
TABLE 192    SCHAEFFLER GROUP: PRODUCT OFFERINGS    243
TABLE 193    SCHAEFFLER GROUP: PRODUCT LAUNCHES AND DEVELOPMENTS    244
15.1.11    IFM    245
TABLE 194    IFM: BUSINESS OVERVIEW    245
TABLE 195    IFM: PRODUCT OFFERINGS    245
15.1.12    BANNER ENGINEERING    246
TABLE 196    BANNER ENGINEERING: BUSINESS OVERVIEW    246
TABLE 197    BANNER ENGINEERING: PRODUCT OFFERINGS    246
15.2    OTHER PLAYERS    247
15.2.1    3D SIGNALS    247
TABLE 198    3D SIGNALS: COMPANY OVERVIEW    247
15.2.2    ANALOG DEVICES    247
TABLE 199    ANALOG DEVICES: COMPANY OVERVIEW    247
15.2.3    BRUEL & KJAER    248
TABLE 200    BRUEL & KJAER: COMPANY OVERVIEW    248
15.2.4    FLUKE    249
TABLE 201    FLUKE: COMPANY OVERVIEW    249
15.2.5    LOGILUBE    249
TABLE 202    LOGILUBE: COMPANY OVERVIEW    249
15.2.6    MACHINE SAVER    250
TABLE 203    MACHINE SAVER: COMPANY OVERVIEW    250
15.2.7    PCMS ENGINEERING    250
TABLE 204    PCMS ENGINEERING: COMPANY OVERVIEW    250
15.2.8    PCB PIEZOTRONICS    251
TABLE 205    PCB PIEZOTRONICS: COMPANY OVERVIEW    251
15.2.9    PETASENSE    251
TABLE 206    PETASENSE: COMPANY OVERVIEW    251
15.2.10    SYMPHONY INDUSTRIAL AI    252
TABLE 207    SYMPHONY INDUSTRIAL AI: COMPANY OVERVIEW    252
15.2.11    SPM INSTRUMENT    253
TABLE 208    SPM INSTRUMENT: COMPANY OVERVIEW    253
15.2.12    SENSEYE    254
TABLE 209    SENSEYE: COMPANY OVERVIEW    254
15.2.13    UPTAKE CANADA    254
TABLE 210    UPTAKE CANADA: COMPANY OVERVIEW    254
*Details on Business overview, Products/services/solutions offered, Recent developments, MnM view, Key strengths, Strategic choices, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
16    ADJACENT AND RELEVANT MARKET    255
16.1    ASSET INTEGRITY MANAGEMENT MARKET    255
16.2    INTRODUCTION    255
16.3    RELIABILITY-CENTERED MAINTENANCE    255
16.4    ROOT CAUSE ANALYSIS    255
16.5    RELIABILITY ANALYTICS    256
16.6    LIFE CYCLE ASSESSMENT/EXTENSION    256
16.7    FITNESS FOR SERVICE    256
16.8    FAILURE MODES, EFFECTS, & CRITICALITY ANALYSIS    257
16.9    FINITE ELEMENT ANALYSIS    257
16.10    SAFETY INTEGRITY LEVEL STUDY    257
17    APPENDIX    258
17.1    INSIGHTS OF INDUSTRY EXPERTS    258
17.2    DISCUSSION GUIDE    259
17.3    KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL    261
17.4    AVAILABLE CUSTOMIZATIONS    263
17.5    RELATED REPORTS    263
17.6    AUTHOR DETAILS    264"