Motor Monitoring Market to Reach at a CAGR of 8.9% | Key Players ABB, Siemens AG, General Electric

Motor Monitoring Market research report delivers the systematic and comprehensive market research study, along with the facts and figures associated with any subject in the field of marketing. This report has a lot of features to offer about Energy industry such as the general market conditions, trends, inclinations, key players, opportunities, and geographical analysis. These and such other parameters help to take the business towards the escalation and success. Motor Monitoring Market report has been framed with the most excellent and superior tools of collecting, recording, estimating and analyzing market data.

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Motor Monitoring Market by Offering (Hardware, Software, Services), Monitoring Process (Online, Portable), End-User Industry (Oil & Gas, Power Generation, Metals & Mining, Chemicals, Automotive), Deployment, and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) The global Motor Monitoring Market size is projected to reach a CAGR of 8.9% from 2022-2028.

Motor monitoring is the collection, sorting, and analyzation of streamed data from components such as sensors, detectors, and others on the device. The data analysed in then processed through the software using various algorithms and monitoring process. Therefore, motor monitoring is available as the combination of hardware and software. The motor monitoring finds its application in various industry verticals such as oil & gas, energy & power, aerospace & defence, automotive, and others.

Increase in usage of motor monitoring in sports, rise in adoption of motor monitoring in automotive & transportation, and increase in demand for thermal imaging applications are some of the factors that have supported long-term expansion for Motor Monitoring Market.

COVID-19 has slowed the growth of the motor monitoring, as countries were forced to implement lockdowns during the first half of 2020. Strict guidelines were issued by governments and local authorities, and all non-essential operations were halted. This adversely affected the motor monitoring owing to less focus on development of end user’s industry.

North America has strong demand for motor monitoring market which is further growing due to increasing maritime trade and growth of electric vehicles and government policies.

Motor Monitoring Market Key Players:

• ABB
• Emerson Electric Co.
• Honeywell International Inc.
• Rockwell Automation, Inc.
• Siemens AG
• General Electric
• Parker Hannifin Corporation
• SKF Group
• National Instruments
• ALS Limited

Recent Developments

• In March 2021, General Electric launched CONNECTIX, a software suite and expert services. It includes operations, maintenance, and services tools, and solutions which help to optimize operations and enable predictive maintenance and cyber-secure service solutions.
• In September 2021, Siemens and Empolis entered into a collaboration agreement in order to digitalize and structure the organizational knowledge for drive systems. The collaboration of Siemens and Empolis strengthens the foundation for insight generation in SIDRIVE IQ with the help of Empolis Intelligent Views Platform’s knowledge graphs.

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Motor Monitoring Market: Table of Contents

Motor Monitoring Market is segmented into offering, deployment, monitoring process, end user and region.

On the basis of Offering

• Hardware
• Software
• Services???????????????????????????????????????????????????????

On the basis of Deployment

• On-premise
• Cloud

On the basis of Monitoring Process

• Online
• Offline/Portable

On the basis of End-User

• Automotive
• Oil & gas
• Metals & mining
• Power Generation
• Water & wastewater treatment
• Food & beverages
• Chemicals
• Others – Agriculture and Electronics & Semiconductors

On the basis of Region

• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa

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• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
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• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

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