Technology

Equipment Monitoring Market worth 4.47 Billion USD by 2023

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[161 Pages Report] Equipment Monitoring Market categorizes global market by Monitoring Type (Vibration, Thermal, Motor Current, Alarm, GPS), Monitoring Process (Online, Portable), Deployment Type (On-premise, Cloud), Industry (Oil & Gas, Power, Automotive), and Region.

The equipment monitoring market is estimated to grow from USD 3.23 Billion in 2018 to USD 4.47 Billion by 2023, at a CAGR of 6.7% between 2018 and 2023.

Download PDF Brochure-https://www.marketsandmarkets.com/pdfdownload.asp?id=219850011

The growth of the market is driven by the advancement of wireless technology in equipment monitoring systems, reduced cost of IoT component leading to cost-effective equipment monitoring, and adoption of equipment monitoring systems.

Cloud-based solutions with real-time functionalities offering cost benefits, Industrial Internet of Things (IIoT), and advent of Big data analytics provide growth opportunities for the equipment monitoring market. The equipment monitoring market has been segmented into monitoring type, monitoring process, deployment type, industry, and region.

4 Premium Insights (Page No. – 34)
4.1 Opportunities in the Equipment Monitoring Market
4.2 Equipment Monitoring Market, By Monitoring Type
4.3 Equipment Monitoring Market, By Monitoring Process
4.4 Equipment Monitoring Market, By Deployment Type
4.5 Equipment Monitoring Market, By Industry
4.6 Equipment Monitoring Market in North America, By Monitoring Type and By Country (2018)
4.7 Equipment Monitoring Market, By Geography

5 Market Overview (Page No. – 38)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advancement of Wireless Technology in Equipment Monitoring Systems
5.2.1.2 Reduced Cost of IoT Components Leading to Cost-Effective Equipment Monitoring
5.2.1.3 Adoption of Equipment Monitoring Systems
5.2.2 Restraints
5.2.2.1 Lack of Trained Operators for Data Analysis
5.2.2.2 Unpredictable Maintenance Schedules
5.2.3 Opportunities
5.2.3.1 Cloud-Based Solutions With Real-Time Functionalities Offering Cost Benefits
5.2.3.2 Industrial Internet of Things (IIoT)
5.2.3.3 Advent of Big Data Analytics
5.2.4 Challenges
5.2.4.1 Complexity Involved in Connecting Legacy Equipment

13 Company Profiles (Page No. – 122)
(Business Overview, Products & Services, Recent Developments, SWOT Analysis and MnM View)*
13.1 Key Players
13.1.1 Emerson Electric
13.1.2 General Electric
13.1.3 Honeywell
13.1.4 National Instruments
13.1.5 SKF
13.1.6 Parker Hannifin
13.1.7 Rockwell Automation
13.1.8 Siemens
13.1.9 Yokogawa
13.1.10 Pruftechnik Dieter Busch
13.2 Other Prominent Players
13.2.1 Flir Systems
13.2.2 SPM Instrument
13.2.3 Analog Devices
13.2.4 Fluke Corporation
13.2.5 PCB Piezotronics
13.2.6 Petasense

North America to hold the largest size of the equipment monitoring market between 2018 and 2023

North America is expected to hold the largest size of the equipment monitoring market throughout the forecast period. North America is likely to continue to lead the equipment monitoring market as it is one of the most developed regions with regard to the adoption of advanced technologies and infrastructure network. Continuous developments of cloud computing technology and security measures for cloud users are expected to boost the growth of the equipment monitoring market in North America. Leading players operating in the equipment monitoring market in North America are Emerson, General Electric, Rockwell Automation, National Instruments, and Honeywell.

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