Global Motor Monitoring Market

Global Motor Monitoring Market Overview 

• The Global Motor Monitoring Market Size is Anticipated to Grow from USD 2.45 Billion in 2023 to USD 6.55 Billion by 2033, growing at a CAGR of 10.33% from 2023 to 2033.
• The market growth is driven by the increasing awareness about predictive maintenance & its augmentation with analytics as well as the adoption of wireless systems for motor monitoring.
•  The implementation of industry 4.0 principles and the focus on regulatory compliance are driving the demand for motor monitoring.
• The motor monitoring market refers to the market of tracking and analyzing the performance of motors for improving efficiency, reducing downtime, and preventing failures.

Major vendors in the Global Motor Monitoring Market 

ABB Group, Siemens AG, Honeywell International Inc., National Instruments Corporation, General Electric Company, Banner Engineering Corporation, Iris Power LP, Koncar- Electrical Engineering Institute, Inc., Dynapar Corporation, and SKF Group (Baker Instrument Company), and others.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Decision Advisor has segmented the motor monitoring market based on the below-mentioned segments:

Global Motor Monitoring Market, By Offering

• Hardware
• Software

Global Motor Monitoring Market, By Deployment

• Cloud
• On-premise 

Global Motor Monitoring Market, By End-User

• Automotive
• Oil & Gas
• Energy & Power
• Mining
• Food & Beverage
• Chemicals
• Aerospace & defense
• Other End-users

Global Motor Monitoring Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa