Motor monitoring market is anticipated to grow at a CAGR of 7.6% during the forecast period. Motor Monitoring Market report provides us with a complete outlook on thorough assessment of thorough data about vital feature of the global industry related to market size, revenue, development and market sales. This study report captures regulatory concerns and entry barriers that greatly affect the market growth. This report emphasizes on how industries get benefit from strategies offered here and achieve ample revenue other than also flashes light on constraints which can become great obstruction. It further helps to predict revenue increasing opportunities available in the marketplace. In addition, it then goes on to talk about volume trends, values and historical pricing structure. This Motor Monitoring Market study report also helps to predict growth and opportunities in the market. Furthermore, it also guides on how to increase product demand, growth rate and gain huge profits through changing consumption technologies.
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Among offerings, the hardware segment is expected to hold a prominent share in the motor monitoring market over the forecast period. The need for a system that can monitor the conditions of motors and could replace manual operation is increased in various industries. The growing technology is significantly favoring the end-use industry to ensure safe and stable operations at respective sites. Key players are developing artificial intelligence (AI) based monitoring systems to cater to the demand of end-user industries. For instance, in May 2022, TMEIC Asia Pte. Limited launched the Smart Motor Sensor TMASMS, which is AI based, high-performance predictive maintenance platform for electric motors. It is Enabled by Analog Devices’ OtoSense hardware and software solutions and predicts motor failures at an early stage and contributes to the stable operation of plants and factories by monitoring and carrying out analysis 24/7 through AI. Moreover, the company delivered 25 sets of TMASMS to PT. Bukit Muria Jaya and started monitoring the whole paper machine drives motors.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Motor Monitoring Market Report Segment
By Offerings
- Hardware
- Software and Services
By Deployment
- Cloud-Based
- On-Premises
By End-Users
- Automotive
- Oil and Gas
- Power Generation
- Metal and Mining
- Others
Global Motor Monitoring Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global motor monitoring market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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