Motor Monitoring Market Overview
Motor Monitoring Market was valued at US$ 2.9 Billion in 2024 and is projected to grow at a CAGR of 9.00% to reach US$ 6.3 Billion by 2034.
Motor Monitoring are specialized dietary supplements or functional ingredients that are added to pet foods to provide additional health benefits beyond basic nutrition. These products are specifically formulated to support and enhance the overall well-being of pets, addressing various health concerns and promoting optimal health.
Ongoing advancements in sensor technology, wireless connectivity, data analytics, and cloud computing are enhancing the capabilities and affordability of motor monitoring solutions. These technological developments enable easier installation, scalability, and integration with existing systems further driving Motor Monitoring Market growth.
Motor Monitoring Market Dynamics
Increasing Emphasis on Predictive Maintenance
The increasing emphasis on predictive maintenance is a significant driver of growth in the motor monitoring market. Predictive maintenance involves the use of data analysis and monitoring techniques to detect and address potential equipment issues before they lead to failures or downtime. In the context of motor monitoring, predictive maintenance enables organizations to optimize maintenance schedules, minimize disruptions, and improve overall operational efficiency.
Rising Focus on Energy Efficiency
The growing focus on energy efficiency is a key driver of growth in the motor monitoring market. Energy efficiency has become a significant concern for organizations across industries due to environmental considerations, rising energy costs, and regulatory requirements. Motor monitoring plays a crucial role in optimizing energy consumption and improving overall system efficiency.
Restrains:
Implementing motor monitoring systems can involve significant upfront costs, including the purchase of monitoring equipment, sensors, software, and integration with existing systems. This initial investment poses a barrier to adoption, especially for small and medium-sized enterprises (SMEs) with limited budgets.
Motor Monitoring Market Segmentation
Motor Monitoring Market is segmented based on Offering, Monitoring Process, Deployment, End Use and Region.
Offering Insight
On the basis of Offering, Motor Monitoring Market is segmented into Hardware, and Software. Software is expected to dominate the target market growth as these tools present the monitored data in a user-friendly and informative manner through graphical interfaces, dashboards, and reports. They help users monitor motor health, track performance trends, and make informed maintenance decisions.
Monitoring Process Insights
On the basis of Monitoring Process, Motor Monitoring Market is segmented into Oil Analysis, Motor Current Analysis, Ultrasound, Thermography, Vibration Analysis and Other. Motor current analysis are expected to dominate the target market growth as motor current analysis involves monitoring and analyzing the electrical current consumed by motors. By examining current waveforms and characteristics, it is possible to detect issues such as unbalance, overloading, misalignment, or electrical faults. Current sensors and data analysis software are used for this purpose.
Deployment Insights
On the basis of Deployment, Motor Monitoring Market is segmented into Cloud and On-Premise. Cloud are expected to dominate target market growth as cloud-based solutions can easily scale up or down based on the needs of the motor monitoring system. As the number of monitored motors increases or decreases, cloud infrastructure can dynamically adjust resources accordingly.
End Use Insights
On the basis of End Use, Motor Monitoring Market is segmented into Oil and Gas, Energy & Power, Aerospace & Defense, Automotive, Mining, Food & Beverage, and Others. Oil and Gas are expected to dominate target market growth as the oil and gas industry extensively relies on motors for various applications, such as pumps, compressors, and drilling rigs. Motor monitoring helps ensure the reliability and performance of critical equipment, optimize maintenance schedules, and prevent costly downtime.
Regional Insights:
On the basis of region Motor Monitoring Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to witness a significantly high revenue share over the forecast period, as North America has several established players in the motor monitoring industry, along with a robust infrastructure and technological advancements. These factors create a conducive environment for the adoption of motor monitoring solutions and contribute to the region's revenue share in Motor Monitoring Market.
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Attribute |
Details |
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Base year for estimation |
2023 |
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Forecast period |
2024 – 2034 |
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Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
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Market Segmentation |
By Offering - Hardware, and Software By Monitoring Process - Oil Analysis, Motor Current Analysis, Ultrasound, Thermography, Vibration Analysis and Other By Deployment - Cloud, On-Premise By End User - Oil and Gas, Energy & Power, Aerospace & Defense, Automotive, Mining, Food & Beverage, and Others |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Motor Monitoring Market report based on Offering, Monitoring Process, Deployment, End Use and Region:
Motor Monitoring Market, By Offering:
- Hardware
- Software
Motor Monitoring Market, By Monitoring Process:
- Oil Analysis
- Motor Current Analysis
- Ultrasound
- Thermography
- Vibration Analysis
- Other
Motor Monitoring Market, By Deployment:
- Cloud
- On-Premise
Motor Monitoring Market, By End Use:
- Oil and Gas
- Energy & Power
- Aerospace & Defense
- Automotive
- Mining
- Food & Beverage
- Others
Motor Monitoring Market, By Region:
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-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Motor Monitoring Market Key Players
The key players operating the Motor Monitoring Market includes, ABB Group, Eaton Corporation, Emerson Electric Co., General Electric Co., Mitsubishi Electric Corp., Rockwell Automation, Inc., Schneider Electric, Siemens AG, Honeywell International Inc., and National Instruments Corporation.
Motor Monitoring Market Key Issues Addressed
Recent Development:
- In May 2023, OMRON Corporation launched K7DD-PQ series of advanced motor condition monitoring devices. The series is the most recent member of the OMRON family of condition monitoring devices, which automate abnormality detection on production sites in place of human personnel. In order to streamline inspection efforts and avoid unexpected equipment failure, the K7DD-PQ tracks trends in the degradation and wear of servomotors, machine tools, and other equipment numerically.
- In May 2022, Schneider Electric has launched a rotating machine condition-monitoring system that evaluates motor currents as opposed to depending on conventional vibration-monitoring methods. The company claims that this method has a number of benefits, including the ability to function in severe settings, the ability to accurately detect impending machine breakdowns, and the potential to provide data that can be utilized to reduce energy usage and improve the operation of machinery.
Motor Monitoring Market Company Profile
- ABB Group*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Eaton Corporation
- Emerson Electric Co.
- General Electric Co.
- Mitsubishi Electric Corp.
- Rockwell Automation, Inc.
- Schneider Electric
- Siemens AG
- Honeywell International Inc.
- National Instruments Corporation.
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“*” marked represents similar segmentation in other categories in the respective section
Motor Monitoring Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Monitoring Process
- Key Thickness Insights
- Secondary Data
- Major Secondary Monitoring Process
- Secondary Monitoring Process
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Offering
- Market Snippet, By Monitoring Process
- Market Snippet, By Deployment
- Market Snippet, By End Use
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Motor Monitoring Market, By Offering
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Hardware
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Software
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Motor Monitoring Market, By Monitoring Process
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Oil Analysis
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Motor Current Analysis
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Ultrasound
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Thermography
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Vibration Analysis
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Other
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Motor Monitoring Market, By Deployment, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Cloud
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- On-Premise
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Motor Monitoring Market, By End Use, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Oil and Gas
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Energy & Power
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Aerospace & Defense
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Automotive
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Mining
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Food & Beverage
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Motor Monitoring Market, By Region, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Offering, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Monitoring Process, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Deployment, 2022 – 2032
- Market Size and Forecast (US$ Bn), By End Use, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Offering, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Monitoring Process, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Deployment, 2022 – 2032
- Market Size and Forecast (US$ Bn), By End Use, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Offering, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Monitoring Process, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Deployment, 2022 – 2032
- Market Size and Forecast (US$ Bn), By End Use, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Offering, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Monitoring Process, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Deployment, 2022 – 2032
- Market Size and Forecast (US$ Bn), By End Use, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Offering, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Monitoring Process, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Deployment, 2022 – 2032
- Market Size and Forecast (US$ Bn), By End Use, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- ABB Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Eaton Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Emerson Electric Co.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- General Electric Co.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Mitsubishi Electric Corp.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Rockwell Automation, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Schneider Electric
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Siemens AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Honeywell International Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- National Instruments Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Motor Monitoring Market is segmented into Offering, Monitoring Process, Deployment, End Use and Region.
Motor Monitoring Market is driven by factors like increasing emphasis on predictive maintenance and rising focus on energy efficiency.
By region, the Motor Monitoring market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to witness a significantly high revenue share over the forecast period.
The key players operating the Motor Monitoring Market includes, ABB Group, Eaton Corporation, Emerson Electric Co., General Electric Co., Mitsubishi Electric Corp., Rockwell Automation, Inc., Schneider Electric, Siemens AG, Honeywell International Inc., and National Instruments Corporation.
Motor Monitoring Market accounted for US$ 2.07 billion in 2022 and is estimated to be US$ 11.8 billion by 2032 and is anticipated to register a CAGR of 17.9%.