Europe Machine Condition Monitoring Market Growth and Forecast by 2027
Europe Machine Condition Monitoring Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission, and Motor Current Analysis); Offering (Hardware and Software); Deployment (On Premise and Cloud); Monitoring Process (Online Condition Monitoring and Portable Condition Monitoring); and End User (Oil & Gas, Power Generation, Automotive, Aerospace & Defense, Food & Beverage, Manufacturing and Others), and Country
- Report Date : Aug 2020
- Report Code : TIPRE00013334
- Category : Electronics and Semiconductor
- Status : Published
- Available Report Formats :
- No. of Pages : 230
The Europe machine condition monitoring market was valued at US$ 686.7 million in 2019 and is projected to reach US$ 1,030.2 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027.
With continuously rising demand for production across industries, the expansion of manufacturing facilities is one of the crucial strategies adopted by the manufacturers. The growing number of manufacturing facilities positively impacts the demand for automated solutions as new and technologically advanced machinery requires constant monitoring of components during operation. Pertaining to this, the demand for condition monitoring solutions is surging among industries such as aerospace & defense, automotive, oil & gas, manufacturing, food & beverage, power generation, and chemicals, among others. Thus, throttling the growth of machine condition monitoring market.The European region is observing some significant investments in its oil & gas industry. With the North Sea remaining the primary source for region’s oil & gas, there are several giant projects presently in development across the region, creating opportunities for machine condition monitoring. Some of the recent or ongoing projects include Johan Sverdrup Development (Norway), Rosebank & Lochnagar Oil & Gas Fields (UK), Johan Castberg Field (Norway), and Aphrodite Gas Field (Cyprus). The increasing volumes of invesments and number of projects in the oil & gas industry is expected to boost the machine condition monitoring market
In Europe, Italy is the hardest-hit country by the coronavirus outbreak and is expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. Spain and France are extending respective lockdown periods to fight COVID-19.
The automotive industry, which is one of the top GDP contributors to the European economy, is also facing a strong product impact. The region-wide production losses owing to factory shutdowns amount to over 1.5 million vehicles so far. Also, A&D manufacturing also experienced a negative impact. However, several manufacturers are still maintaining a certain level of production. The wind turbine manufacturing industry in the region has also been impacted due to disruptions in supply chains for raw materials as well as components.
Europe machine condition monitoring market
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By Monitoring Techniques
- Vibration Monitoring
- Thermography
- Oil Analysis
- Corrosion Monitoring
- Ultrasound Emission
- Motor Current Analysis
By Offering
- Hardware
- Vibration Sensor
- Proximity Probes
- Tachometer
- Infrared Sensors
- Spectrometer
- Ultrasound Detectors
- Corrosion Probe
- Others
- Software
By Deployment Type
- On-premise
- Cloud
By Monitoring Process
- Online Condition Monitoring
- Portable Condition Monitoring
By End User
- Oil & Gas
- Power Generation
- Automotive
- Aerospace & Defense
- Food & Beverage
- Manufacturing
- Others
By Country
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Europe Machine Condition Monitoring Market -Companies Mentioned
- Honeywell International Inc.
- Schaeffler Technologies AG & Co. KG
- General Electric Company
- Emerson Electric Co.
- Parker Hannifin Corporation
- Rockwell Automation Inc.
- SKF
- ALS Limited
- National Instrument Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Monitoring Technique, Offering, Deployment, Monitoring Process, and End User, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Machine Condition Monitoring Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe – PEST Analysis
4.3 Ecosystem Analysis
5. Machine Condition Monitoring Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for Automated Solutions in Manufacturing Facilities
5.1.2 Accentuating Awareness among End Users in Developing Countries
5.2 Market Restraints
5.2.1 Maintenance and Lifespan of Machine Condition Monitoring Systems
5.3 Market Opportunities
5.3.1 Increasing Adoption of Wireless Technologies
5.4 Future Trends
5.4.1 Embedded Sensors and Smart Wireless Communication to Revolutionize the Market
5.5 Impact Analysis of Drivers and Restraints
6. Machine Condition Monitoring Market – Europe Analysis
6.1 Europe Machine Condition Monitoring Market Overview
6.2 Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. Machine Condition Monitoring Market Analysis – By Monitoring Technique
7.1 Overview
7.2 Machine Condition Monitoring Market, By Monitoring Technique (2019 and 2027)
7.3 Vibration Monitoring
7.3.1 Overview
7.3.2 Vibration Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Thermography
7.4.1 Thermography: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Oil Analysis
7.5.1 Oil Analysis: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Corrosion Monitoring
7.6.1 Corrosion Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.7 Ultrasound Emission
7.7.1 Ultrasound Emission: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.8 Motor Current Analysis
7.8.1 Motor Current Analysis: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8. Machine Condition Monitoring Market Analysis – By Offering
8.1 Overview
8.2 Machine Condition Monitoring Market, By Offering (2019 and 2027)
8.3 Hardware
8.3.1 Overview
8.3.2 Hardware: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.3 Vibration Sensors
8.3.3.1 Vibration Sensors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.4 Proximity Probes
8.3.4.1 Proximity Probes: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.5 Tachometer
8.3.5.1 Tachometer: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.6 Infrared Sensors
8.3.6.1 Infrared Sensors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.7 Spectrometer
8.3.7.1 Spectrometer: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.8 Ultrasound Detectors
8.3.8.1 Ultrasound Detectors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.9 Corrosion Probes
8.3.9.1 Corrosion Probes: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.10 Other
8.3.10.1 Other: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Software
8.4.1 Software: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.4.2 Data Integrator
8.4.3 Diagnosis Reporting
8.4.4 Order Tracking Analysis
8.4.5 Parameter Calculation
9. Machine Condition Monitoring Market Analysis – By Deployment Type
9.1 Overview
9.2 Machine Condition Monitoring Market, By Deployment Type (2019 and 2027)
9.3 Cloud
9.3.1 Overview
9.3.2 Cloud: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
9.4 On-Premise
9.4.1 On-Premise: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
10. Machine Condition Monitoring Market Analysis – By Monitoring Process
10.1 Overview
10.2 Machine Condition Monitoring Market, By Monitoring Process (2019 and 2027)
10.3 Online Condition Monitoring
10.3.1 Overview
10.3.2 Online Condition Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
10.4 Portable Condition Monitoring
10.4.1 Portable Condition Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
11. Machine Condition Monitoring Market Analysis – By End User
11.1 Overview
11.2 Machine Condition Monitoring Market, By End User (2019 and 2027)
11.3 Oil & Gas
11.3.1 Overview
11.3.2 Oil & Gas: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
11.4 Power Generation
11.4.1 Power Generation: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
11.5 Automotive
11.5.1 Automotive: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.6 Aerospace & Defense
11.6.1 Aerospace & Defense: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.7 Food & Beverage
11.7.1 Food & Beverage: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.8 Manufacturing
11.8.1 Manufacturing: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.9 Other
11.9.1 Other: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
12. Machine Condition Monitoring Market Analysis – By Country
12.1.1 Europe: Machine Condition Monitoring Market, By Country
12.1.1.1 Germany: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.1.1 Germany: Machine Condition Monitoring Market, by Monitoring Technique
12.1.1.1.2 Germany: Machine Condition Monitoring Market, by Offering
12.1.1.1.2.1 Germany: Machine Condition Monitoring Market, by Hardware
12.1.1.1.3 Germany: Machine Condition Monitoring Market, by Deployment Type
12.1.1.1.4 Germany: Machine Condition Monitoring Market, by Monitoring Process
12.1.1.1.5 Germany: Machine Condition Monitoring Market, by End User
12.1.1.2 France: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.2.1 France: Machine Condition Monitoring Market, by Monitoring Technique
12.1.1.2.2 France: Machine Condition Monitoring Market, by Offering
12.1.1.2.2.1 France: Machine Condition Monitoring Market, by Hardware
12.1.1.2.3 France: Machine Condition Monitoring Market, by Deployment Type
12.1.1.2.4 France: Machine Condition Monitoring Market, by Monitoring Process
12.1.1.2.5 France: Machine Condition Monitoring Market, by End User
12.1.1.3 Italy: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.3.1 Italy: Machine Condition Monitoring Market, by Monitoring Technique
12.1.1.3.2 Italy: Machine Condition Monitoring Market, by Offering
12.1.1.3.2.1 Italy: Machine Condition Monitoring Market, by Hardware
12.1.1.3.3 Italy: Machine Condition Monitoring Market, by Deployment Type
12.1.1.3.4 Italy: Machine Condition Monitoring Market, by Monitoring Process
12.1.1.3.5 Italy: Machine Condition Monitoring Market, by End User
12.1.1.4 UK: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.4.1 UK: Machine Condition Monitoring Market, by Monitoring Technique
12.1.1.4.2 UK: Machine Condition Monitoring Market, by Offering
12.1.1.4.2.1 UK: Machine Condition Monitoring Market, by Hardware
12.1.1.4.3 UK: Machine Condition Monitoring Market, by Deployment Type
12.1.1.4.4 UK: Machine Condition Monitoring Market, by Monitoring Process
12.1.1.4.5 UK: Machine Condition Monitoring Market, by End User
12.1.1.5 Russia: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.5.1 Russia: Machine Condition Monitoring Market, by Monitoring Technique
12.1.1.5.2 Russia: Machine Condition Monitoring Market, by Offering
12.1.1.5.2.1 Russia: Machine Condition Monitoring Market, by Hardware
12.1.1.5.3 Russia: Machine Condition Monitoring Market, by Deployment Type
12.1.1.5.4 Russia: Machine Condition Monitoring Market, by Monitoring Process
12.1.1.5.5 Russia: Machine Condition Monitoring Market, by End User
12.1.1.6 Rest of Europe: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.6.1 Rest of Europe: Machine Condition Monitoring Market, by Monitoring Technique
12.1.1.6.2 Rest of Europe: Machine Condition Monitoring Market, by Offering
12.1.1.6.2.1 Rest of Europe: Machine Condition Monitoring Market, by Hardware
12.1.1.6.3 Rest of Europe: Machine Condition Monitoring Market, by Deployment Type
12.1.1.6.4 Rest of Europe: Machine Condition Monitoring Market, by Monitoring Process
12.1.1.6.5 Rest of Europe: Machine Condition Monitoring Market, by End User
13. Impact of Coronavirus Outbreak
13.1 Impact of COVID-19 Pandemic On Europe Machine Condition Monitoring Market
13.1.1 Europe: Impact Assessment of COVID-19 Pandemic
14. Industry Landscape
14.1 Overview
14.2 Market Initiative
14.3 New Development
15. Company Profiles
15.1 Honeywell International Inc.
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
15.2 Schaeffler Technologies AG & Co. KG
15.2.1 Key Facts
15.2.2 Business Description
15.2.3 Products and Services
15.2.4 Financial Overview
15.2.5 SWOT Analysis
15.2.6 Key Developments
15.3 General Electric Company
15.3.1 Key Facts
15.3.2 Business Description
15.3.3 Products and Services
15.3.4 Financial Overview
15.3.5 SWOT Analysis
15.3.6 Key Developments
15.4 Emerson Electric Co.
15.4.1 Key Facts
15.4.2 Business Description
15.4.3 Products and Services
15.4.4 Financial Overview
15.4.5 SWOT Analysis
15.4.6 Key Developments
15.5 Parker Hannifin Corporation
15.5.1 Key Facts
15.5.2 Business Description
15.5.3 Products and Services
15.5.4 Financial Overview
15.5.5 SWOT Analysis
15.5.6 Key Developments
15.6 Rockwell Automation, Inc.
15.6.1 Key Facts
15.6.2 Business Description
15.6.3 Products and Services
15.6.4 Financial Overview
15.6.5 SWOT Analysis
15.6.6 Key Developments
15.7 SKF
15.7.1 Key Facts
15.7.2 Business Description
15.7.3 Products and Services
15.7.4 Financial Overview
15.7.5 SWOT Analysis
15.7.6 Key Developments
15.8 ALS Limited
15.8.1 Key Facts
15.8.2 Business Description
15.8.3 Products and Services
15.8.4 Financial Overview
15.8.5 SWOT Analysis
15.8.6 Key Developments
15.9 National Instruments Corporation
15.9.1 Key Facts
15.9.2 Business Description
15.9.3 Products and Services
15.9.4 Financial Overview
15.9.5 SWOT Analysis
15.9.6 Key Developments
16. Appendix
16.1 About The Insight Partners
16.2 Word Index
LIST OF TABLES
Table 1. Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Europe Machine Condition Monitoring Market, By Country – Revenue and Forecast to 2027 (US$ Million)
Table 3. Germany Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 4. Germany Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 5. Germany Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 6. Germany Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Germany Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 8. Germany Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 9. France Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 10. France Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 11. France Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 12. France Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027(US$ Million)
Table 13. France Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 14. France Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 15. Italy Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 16. Italy Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 17. Italy Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 18. Italy Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. Italy Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 20. Italy Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 21. UK Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 22. UK Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 23. UK Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 24. UK Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 25. UK Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 26. UK Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 27. Russia Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 28. Russia Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 29. Russia Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 30. Russia Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 31. Russia Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 32. Russia Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 33. Rest of Europe Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 34. Rest of Europe Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 35. Rest of Europe Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 36. Rest of Europe Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 37. Rest of Europe Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 38. Rest of Europe Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 39. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Machine Condition Monitoring Market Segmentation
Figure 2. Europe Machine Condition Monitoring Market Segmentation – By Countries
Figure 3. Europe Machine Condition Monitoring Market Overview
Figure 4. Europe Machine Condition Monitoring Market, By Monitoring Technique
Figure 5. Europe Machine Condition Monitoring Market, By End User
Figure 6. Europe – PEST Analysis
Figure 7. Machine Condition Monitoring Market – Ecosystem Analysis
Figure 8. Machine Condition Monitoring Market: Impact Analysis of Drivers And Restraints
Figure 9. Geographic Overview of Machine Condition Monitoring Market
Figure 10. Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. Machine Condition Monitoring Market Revenue Share, by Monitoring Technique (2019 and 2027)
Figure 12. Vibration Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. Thermography: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Oil Analysis: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. Corrosion Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. Ultrasound Emission: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Motor Current Analysis: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Machine Condition Monitoring Market Revenue Share, by Offering (2019 and 2027)
Figure 19. Hardware: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Vibration Sensors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Proximity Probes: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Tachometer: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Infrared Sensors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Spectrometer: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Ultrasound Detectors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Corrosion Probes: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Other: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Software: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Machine Condition Monitoring Market Revenue Share, by Deployment Type (2019 and 2027)
Figure 30. Cloud: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. On-Premise: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Machine Condition Monitoring Market Revenue Share, by Monitoring Process (2019 and 2027)
Figure 33. Online Condition Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. Portable Condition Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 35. Machine Condition Monitoring Market Revenue Share, by End User (2019 and 2027)
Figure 36. Oil & Gas: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. Power Generation: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. Automotive: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 39. Aerospace & Defense: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 40. Food & Beverage: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 41. Manufacturing: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 42. Other: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 43. Europe: Machine Condition Monitoring Market Revenue Share, By Country (2019 and 2027)
Figure 44. Germany: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 45. France: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 46. Italy: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 47. UK: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 48. Russia: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 49. Rest of Europe: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 50. Impact of COVID-19 Pandemic In Europe Country Markets
- Honeywell International Inc.
- Schaeffler Technologies AG & Co. KG
- General Electric Company
- Emerson Electric Co.
- Parker Hannifin Corporation
- Rockwell Automation Inc.
- SKF
- ALS Limited
- National Instrument Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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