The motor monitoring market has seen considerable growth due to a variety of factors.
•In recent years, the motor home market has seen significant growth. The market size is predicted to increase from $181.06 billion in 2024 to $194.85 billion in 2025, implying a compound annual growth rate (CAGR) of 7.6%.
Factors such as agricultural growth, water preservation, temperature control, intensification of farming, betterment of crop quality, and enhancement of crop yield have contributed to the growth during the historic period.
The motor monitoring market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations are high for substantial enhancement in the motor home market size in the coming years. The projection is for it to reach "$249.6 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 6.4%.
The growth during the forecast period is seen as a result of increased efforts towards climate change mitigation, adoption of organic farming, precision agriculture, the growing population and its subsequent food requirements, an emphasis on soil health, and governmental subsidies and assistance. The forecast period is expected to witness significant trends like technological advancements in mulch film materials, their use in organic farming, recycling initiatives for mulch films, the development of smart mulch technologies and the introduction of biodegradable mulch films.
The expansion of the motor monitoring market is projected to be propelled by the rising usage of electric vehicles (EVs). One or more electric engines can power an electric vehicle. Motor monitoring aids in reducing in-service failures by identifying systems that have deteriorated prematurely and providing data for quality enhancement initiatives. Consequently, the growing implementation of electric vehicles (EVs) is anticipated to stimulate the motor monitoring market. For example, a report produced by the International Energy Agency, a French intergovernmental organization, indicated that sales of electric cars surged by 3.5 million in 2023 versus 2022. As a result, the escalating adoption of electric vehicles (EVs) is fueling the motor monitoring market's expansion.
The motor monitoring market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Deployment: On-Premise, Cloud
3) By Monitoring Process: Oil Analysis, Motor Current Analysis, Ultrasound, Thermography, Vibration Analysis, Other Monitoring Process
4) By End User: Automotive, Oil And Gas, Metals And Mining, Power Generation, Water And Wastewater Treatment, Food And Beverages, Chemicals, Other End Users
Subsegments:
1) By Hardware: Sensors, Monitoring Devices, Communication Interfaces, Power Supply Units, Displays And Indicators
2) By Software: Data Analysis Software, Monitoring And Control Software, Predictive Maintenance Software, Cloud-Based Platforms, Mobile Applications
3) By Services: Installation And Configuration Services, Maintenance And Support Services, Consulting Services, Training Services, Customization Services
The primary trend gaining momentum in the motor monitoring market is technological innovation. Big firms in this market are honing in on advancing their technologies. To illustrate, TMEIC Asia Pte. Ltd., a Singaporean company that builds induction, synchronous motors, and generators, rolled out TMASMS, a smart motor sensor powered by artificial intelligence, in May 2022. This platform, which provides highly capable predictive maintenance for electric motors, supports early detection of motor malfunctions and stabilizes the functioning of factories and plants through constant data monitoring and analysis.
Major companies operating in the motor monitoring market include:
• ABB Ltd.
• General Electric Company
• Siemens AG
• Honeywell International Inc.
• Schneider Electric SE
• Banner Engineering Corp.
• National Instruments Corp.
• AB SKF
• Emerson Electric Co.
• Rockwell Automation Inc.
• Mitsubishi Electric Corporation
• Eaton Corporation plc
• WEG Group
• KCF Technologies Inc.
• Advantech Co. Ltd
• Dynapar Corporation
• Phoenix Contact GmbH & Co. KG
• Parker Hannifin Corporation
• Analog Devices Inc.
• Texas Instruments Incorporated
• STMicroelectronics N.V.
• NXP Semiconductors N.V.
• Infineon Technologies AG
• Renesas Electronics Corporation
• Maxim Integrated Products Inc.
• ON Semiconductor Corporation
• Microchip Technology Inc.
• Broadcom Inc.
• TE Connectivity Ltd.
• Mouser Electronics Inc.
• Amphenol Corporation
• RS Components Ltd.
• Vishay Intertechnology Inc.
• Murata Manufacturing Co.Ltd.
• Panasonic Corporation
North America was the largest region in the motor monitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global motor monitoring market during the forecast period. The regions covered in the motor monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa