The Machine Condition Monitoring Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Machine Condition Monitoring Market?
The historical growth trend in the Machine Condition Monitoring Global Market Report 2025 indicates a solid expansion. The market size has increased from $3.14 billion in 2024 to $3.37 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Machine Condition Monitoring Industry?
The Machine Condition Monitoring Global Market is projected to reach a value of $4.6 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 8.1%.
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What are the Key Growth Drivers Fueling the Machine Condition Monitoring Market?
The key drivers in the machine condition monitoring market are:
• Adoption of wireless and IoT-enabled condition monitoring solutions
• Integration of artificial intelligence (AI) and machine learning (ML) in predictive maintenance
• Rising importance of remote monitoring for distributed assets
• Research and development in advanced sensor technologies and data interpretation
Global Market Segmentation: Identifying Major Machine Condition Monitoring Industry Segments
The machine condition monitoring market covered in this report is segmented –
1) By Type: Hardware, Software, Services
2) By Deployment Type: On-premises, Cloud
3) By Monitoring Technique: Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission, Motor Current Analysis
4) By Industry: Oil And Gas, Power Generation, Metals And Mining, Chemicals, Automotive, Aerospace And Defense, Food And Beverages, Marine
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What are the Emerging Trends Shaping the Future of the Machine Condition Monitoring Market?
The key trends in the ambulatory health care services market are:
• One trend is the adoption of wireless and IoT-enabled condition monitoring solutions.
• There is also a trend towards integrating artificial intelligence (AI) and machine learning (ML) in predictive maintenance.
• Predictive analytics for early fault detection is becoming increasingly important.
• The use of digital twins for monitoring asset performance and incorporating wireless IoT sensors, ultrasound, and acoustic emission for non-destructive testing are also emerging trends.
Who Are the Top Competitors & Leading Players in the Machine Condition Monitoring Market?
Major companies in the machine condition monitoring market are:
• ALS Limited
• Bruel & Kjaer
• Emerson Electric Co.
• Teledyne FLIR LLC
• Fluke Corporation
• Baker Hughes Company
• General Electric
• Honeywell International Inc
• Meggitt PLC
• National Instruments Corp
• PARKER HANNIFIN CORP
• Rockwell Automation Inc.
• Schaeffler India Limited
• SKF Condition Monitoring Inc
• Symphony Industrial AI
• Wilcoxon Sensing Technologies Inc.
• Azima DLI Corporation
• AB SKF (Swedish: Svenska Kullagerfabriken)
• Ifm Electronic Gmbh
• Schaeffler AG & Co.
• Analog Devices Inc.
• RoadBotics Inc.
• Litmus Automation Inc.
• Amphenol Inc.
• Brüel & Kjaer Vibro
• FLIR Systems Inc.
• Nippon Avionics Co. Ltd.
• Thermo Fisher Scientific Inc.
• Perkin Elmer Inc.
• PCB Piezotronics Inc.
• SPM Instrument AB
• KCF Technologies Inc.
• Monnit Corporation
Regional Dominance: Which Area Leads the Global Machine Condition Monitoring Market?
North America was the largest region in the machine condition monitoring market share in 2024
