Machine Condition Monitoring Sensors Market: Key Findings

  • Machine condition monitoring sensors market value to grow by USD 334.41 million at over 4% CAGR during 2020-2024
  • Based on the end-user, the oil and gas segment will offer maximum opportunities for vendors during the forecast period
  • Based on the geography, APAC dominated the market with a 32% share in 2019
  • The machine condition monitoring sensors market is expected to have a negative impact due to the spread of COVID-19

Machine Condition Monitoring Sensors Market: Growth Drivers

The rise in demand for wireless vibration sensors is one of the prime factors driving the growth of the market. End-users in the market are exhibiting high demand for wireless vibration sensors owing to their cost-effectiveness as they eliminate the need for laying cables and wires. They are also capable of operating in remote and hazardous environments. This improves productivity and ensures the safety of both humans and machines. Many such benefits are driving the demand for wireless vibration sensors, which, in turn, is driving the growth of the market.

“Surging deployment of sensors in aging infrastructure and rising adoption of machine condition monitoring systems in APAC will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Machine Condition Monitoring Sensors Market: Major Vendors

AB SKF: The company offers products such as CMSS 2100, CMSS 2100T, and other machine condition monitoring sensors.

Connection Technology Center Inc.: The company offers temperature sensors, hazardous area sensors and barries, low-velocity sensors, and other products.

Emerson Electric Co.: The company offers products such as AMS 9420 Wireless Vibration Transmitter, A0322RM, A0394DI, and others.

Honeywell International Inc.: The company offers products for temperature loss, fluid flow, temperature rise, and other applications.

ifm electronic GmbH: The company offers a wide range of machine condition monitoring sensors such as systems for vibration monitoring and others.

Related Reports on Industrials Include:

Global Industrial Vibration Sensor Market – Global industrial vibration sensor market is segmented by product (displacement sensor, acceleration sensor, and velocity sensor), end-user (process industries and discrete industries), and geography (APAC, Europe, North America, MEA, and South America).

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Global Medium Voltage Motors Market – Global medium voltage motors market is segmented by product (AC motors and DC motors), end-user (process industries, discrete industries, and HVAC), and geography (APAC, North America, Europe, MEA, and South America).

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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
Report: www.technavio.com/report/machine-condition-monitoring-sensors-market-industry-analysis

SOURCE Technavio

Author

James Bregenzer writes about international trade and business. Before joining the Press Daily business newswire, James was a columnist at New York Newsday, The New York Daily News and worked as a small business reporter for United Press International.