LONDON--(BUSINESS WIRE)--Technavio has been monitoring the machine condition monitoring market and it is poised to grow by USD 573.83 million during 2020-2024, progressing at a CAGR of 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AB SKF, Emerson Electric Co., Fortive Corp., General Electric Co., Honeywell International Inc., Meggitt Plc, National Instruments Corp., Parker Hannifin Corp., Rockwell Automation Inc., and Schaeffler AG are some of the major market participants. The wireless communication gaining momentum in industries will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Wireless communication gaining momentum in industries has been instrumental in driving the growth of the market.
Machine Condition Monitoring Market 2020-2024: Segmentation
Machine Condition Monitoring Market is segmented as below:
- End-user
- Energy And Power Industry
- Cement And Metal Industry
- Oil And Gas Industry
- Chemical And Petrochemical Industry
- Others
- Geography
- North America
- Europe
- APAC
- South America
- MEA
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Machine Condition Monitoring Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our machine condition monitoring market report covers the following areas:
- Machine Condition Monitoring Market size
- Machine Condition Monitoring Market trends
- Machine Condition Monitoring Market industry analysis
This study identifies improvement in sensor technology as one of the prime reasons driving the machine condition monitoring market growth during the next few years.
Machine Condition Monitoring Market 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the machine condition monitoring market, including some of the vendors such as AB SKF, Emerson Electric Co., Fortive Corp., General Electric Co., Honeywell International Inc., Meggitt Plc, National Instruments Corp., Parker Hannifin Corp., Rockwell Automation Inc., and Schaeffler AG. Backed with competitive intelligence and benchmarking, our research reports on the machine condition monitoring market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
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Machine Condition Monitoring Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist machine condition monitoring market growth during the next five years
- Estimation of the machine condition monitoring the market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the machine condition monitoring market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of machine condition monitoring market vendors
Table Of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by end-user
- Energy and power industry - Market size and forecast 2019-2024
- Cement and metal industry - Market size and forecast 2019-2024
- Oil and gas industry - Market size and forecast 2019-2024
- Chemical and petrochemical industry - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by end-user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AB SKF
- Emerson Electric Co.
- Fortive Corp.
- General Electric Co.
- Honeywell International Inc.
- Meggitt Plc
- National Instruments Corp.
- Parker Hannifin Corp.
- Rockwell Automation Inc.
- Schaeffler AG
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Analysis on Impact of COVID19-Machine Condition Monitoring Market 2020-2024 | Wireless Communication Gaining Momentum in Industries to Boost Growth | Technavio - Business Wire
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