Summary:
As machinery and components are used more and more, IIoT condition monitoring systems can identify machinery parts that need repair or replacement, protecting them from wear and tear. Industrial IoT condition monitoring systems can leverage a range of data, including equipment runtime, energy usage, temperature, output, and more, to improve decision-making and operations in a manufacturing plant or manufacturing unit. Predictive maintenance, powered by data from IIoT condition monitoring systems, allows facility managers to avoid virtual downtime when equipment is not performing at its full potential.
Market Insights
Due to the COVID-19 pandemic, the global Industrial IoT Condition Monitoring Systems market size is estimated to be worth US$ million in 2021 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the forecast period 2022-2028.
The global main manufacturers of Industrial IoT Condition Monitoring Systems include Schaeffler Technologies, Kirloskar Brothers, Siemens, Honeywell International, ABB, Emerson Electric, Turck, Rockwell Automation and Fluke Corporation, etc. In 2021, the global six largest players have a share approximately % in terms of revenue.
The North America Industrial IoT Condition Monitoring Systems market is estimated at US$ million in 2021, while China is forecast to reach US$ million by 2028. The proportion of the China is % in 2021 and it is predicted that the share will reach % in 2028, trailing a CAGR of % through the analysis period 2022-2028. As for the Europe Industrial IoT Condition Monitoring Systems landscape, Germany is projected to reach US$ million by 2028. and in Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.
Corrosion Monitoring accounting for % of the Industrial IoT Condition Monitoring Systems global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Aerospace segment is altered to an % CAGR throughout this forecast period and will hold a share about % in 2028.
Segment Scope
An intensive study of key type and application segments has been done in this segmentation section. The authors of the report have provided reliable figures including sales and revenue forecast data by type and application for the period 2017-2028. They have also studied how the segments are gaining or losing growth in various geographies and their respective countries. Thanks to this study, readers can thoroughly grasp the growth pattern and potential of different segments.
Segment by Type
Corrosion Monitoring
Infrared Thermography
Motor Condition Monitoring
Oil Analysis
Ultrasound Testing
Vibration Analysis
Segment by Application
Aerospace
Automotive and Transportation
Chemical and Petrochemical
Food & Beverage
Mining and Metal
Oil and Gas
Others
Regional Scope
This segment of the report offers a thorough regional study of the global Industrial IoT Condition Monitoring Systems market. Drivers and restraints for each region are broadly examined in the report. Readers will get familiar with the driving forces and challenges that are specific to the regions. The specialists have identified growth opportunities in key geographical regions and their respective countries to aid players to reinforce their presence. All the regions and their countries in the report are assessed based on the growth rate, revenue, and sales volume according to the consumption for the period 2017-2028. This geographical analysis will help readers to gain in-depth knowledge of the regional growth. The key geographical regions surveyed in this research report involve North America, Europe, Asia Pacific, Central and South America, and Middle East and Africa. The report has specifically covered major countries including United States, Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.
Key Players
This section has provided an exhaustive analysis of the strategies that the companies are focusing on to stay ahead of other players. The strategies mainly involve research and development, new product developments, and mergers and acquisitions. The researchers have also provided revenue shares of the key companies, company overview, and the latest company developments so as to help players to sustain the cutthroat competition. In this section, the report offers global revenue and sales data of manufacturers for the period 2017-2022. Following is the list of key manufacturers observed in this research study:
Schaeffler Technologies
Kirloskar Brothers
Siemens
Honeywell International
ABB
Emerson Electric
Turck
Rockwell Automation
Fluke Corporation
Parker Hannifin
General Electric
Festo Group
SKF
Schneider Electric
Fuji Electric
Eaton
IFM
Meggit
PCE Instruments
AIMIL
Bachmann Electronic
Ingeteam
Bruel & Kjaer Vibro
SPM Instrument
Dynapar
Bently Nevada
Frequently Asked Questions
Which application segment captured the leading share in the Industrial IoT Condition Monitoring Systems market?
How fragmented is the Industrial IoT Condition Monitoring Systems market?
Which are the key growth drivers in the Industrial IoT Condition Monitoring Systems market?
Which are the top strategies undertaken by the Industrial IoT Condition Monitoring Systems market players?
Which technological trends are likely to affect the Industrial IoT Condition Monitoring Systems market?
What is the expected Industrial IoT Condition Monitoring Systems market size by 2028?
Which companies are dominating the Industrial IoT Condition Monitoring Systems market?
Which region is projected to witness the fastest growth in the future?
What factors are restraining the Industrial IoT Condition Monitoring Systems market growth?
Which are the emerging companies in the Industrial IoT Condition Monitoring Systems market?
Summary:
Get latest Market Research Reports on Industrial IoT Condition Monitoring Systems. Industry analysis & Market Report on Industrial IoT Condition Monitoring Systems is a syndicated market report, published as Global Industrial IoT Condition Monitoring Systems Market Report, History and Forecast 2017-2028, Breakdown Data by Manufacturers, Key Regions, Types and Application. It is complete Research Study and Industry Analysis of Industrial IoT Condition Monitoring Systems market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.