Motor monitoring is the process of continuously monitoring the motors, generators, clutches in various end-use industries that are subjected to high-stress and sensors are permanently mounted on motors for sensing their behavior. The sensors are connected to output devices such as monitors, analyzers, and central servers, and transmit data to plant operators either through a wireless network or cable network.
The "Global Motor monitoring Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the motor monitoring market with detailed market segmentation by offerings, monitoring process, industry vertical, and geography. The report provides key statistics on the market status of the leading motor monitoring market players and offers key trends and opportunities in the market.
- Based on offerings, the global motor monitoring market is segmented into hardware and software.
- On the basis of monitoring process, the market is segmented into online and portable.
- Based on industry vertical, the global motor monitoring market is segmented into metals and mining, power generation, general manufacturing, food and beverages, automotive and others..
- Increasing and growing prominence of predictive maintenance and the increasing need to minimize revenue loss caused by motor faults are driving the growth of the motor monitoring market.
- Increasing the popularity of wireless technologies in the industrial sector
- Lack of faith in prediction capabilities of motor monitoring technology is a significant factor limiting the market growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The motor monitoring market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the motor monitoring market in these regions.
IMPACT OF COVID-19 ON MOTOR MONITORING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the motor monitoring market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from motor monitoring market are anticipated to lucrative growth opportunities in the future with the rising demand for motor monitoring in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the motor monitoring market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB Ltd.
- Banner Engineering Corp.
- Eaton Corporation Inc.
- Emerson Electric
- General Electric
- Honeywell International Inc.
- National Instruments
- Rockwell Automation, Inc.
- Siemens AG
- SKF (Baker Instrument Company)
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.