The motor monitoring market is expected to be worth USD 5.5 Billion by 2033, up from USD 2.5 Billion in 2023, and is estimated to register an 8.3% CAGR between 2023 and 2033.
| Report Attribute | Details |
|---|---|
| Motor Monitoring Market Value (2023) | USD 2.5 Billion |
| Motor Monitoring Market Anticipated Value (2033) | USD 5.5 Billion |
| Motor Monitoring Market Growth Rate (2023 to 2033) | 8.3% CAGR |
The vibration occurs in all rotational equipment. Vibration screening can detect various defects in motors. The use of wireless IoT sensors and cloud-based software for condition monitoring enables industrial workers to stay ahead of equipment problems and reduce downtime by obtaining current, vibration, and temperature data from anywhere in a facility at any time. This is consistent with the market's continued growth.
The significance of electric motor monitoring is linked to the consequences of even a single motor failure. It has been estimated that the cost of missing production in the pasta production sector is equal to one hour of downtime. One of the low-cost solutions is to continue deploying predictive maintenance and educating internal maintenance employees to make them independent as soon as possible.
Rule-based predictive maintenance uses sensors to continuously gather data about assets and provides alerts depending on predetermined criteria, such as when a certain threshold is achieved. Product teams collaborate with engineering and customer service departments to determine the causes or contributing factors to their products failing using rule-based analytics. As a result, industrial IoT technologies are driving the market.
Electrical motors and drives account for around 45% of total power generation. However, if electrical machines are not properly maintained, they consume 5% to 10% more power, reducing productivity and revenue. Wireless motor monitoring can capture machine parameters more accurately, with automatic identification of abnormal situations and reporting to the server in a matter of microseconds.
Wireless technology has the advantage of being exceedingly reliable, operating even at very modest network speeds, and handling several devices at once. Because it does not entail a complex mechanism and employs a lightweight MQTT protocol, the developed system is simple to install and scale up to big industrial setups.
The motor monitoring market was worth USD 2.2 Billion in 2022, with a CAGR of 12.6% over the forecast period. Global market absolute dollar growth is USD 3.0 Billion.
Manufacturers benefit from key features such as real-time visibility into the equipment that has implemented the cloud solution and the opportunity to analyze the status of their motor. The manufacturing plant's additional software solutions can also be monitored by its central system.
Several service providers conducted using this important portable monitoring equipment. Smart sensors are a commonly available instrument that provides a remote look into client assets, hence eliminating the need to visit a site. Remote monitoring and diagnostics will be crucial in driving the market in this situation.
However, the lack of personalization, combined with the hefty initial investment, limits the market's growth. Industrial systems are becoming more complex as new technologies are integrated. At the same time, it increases the cost and complexity of maintenance and monitoring tasks to obtain trustworthy data on time.
The more sensors that are put into the system, the more data must be managed. However, digesting this enormous volume of data using database systems will be difficult. This issue is directly tied to the Big Data notion.
| Historical CAGR (2017 to 2022) | Forecast CAGR (2023 to 2033) |
|---|---|
| 12.6% | 8.3% |
As per the FMI analysts, a valuation of USD 5.5 Billion by 2033 end is estimated for the market.
| 2016 | USD 1.2 million |
|---|---|
| 2021 | USD 2.88 Billion |
| 2022 | USD 2.2 Billion |
| 2023 | USD 2.5 Billion |
| 2033 | USD 5.5 Billion |
Motor monitoring has become more accurate and economical as the cost of sub-meters and sensors has decreased, and big data technology has advanced.
Predictive maintenance has various advantages for the industry, including minimizing the amount of time spent on asset maintenance, reducing downtime, and maximizing the life of current assets to lower the cost of substitute components.
Factors driving the market demand for motor monitoring devices include:
The scarcity of skilled professionals at reasonable prices and limited technical knowledge is expected to be the primary factors limiting the market growth.
The increased use of predictive maintenance and other monitoring technologies prompts businesses to hire a data analysis staff. To obtain accurate information on the health of motors, this team should be well-versed in motors and their operation in a specific machine.
As a result, the indirect cost to businesses will rise. Furthermore, motor manufacturing businesses do not readily give monitoring solutions; hence, industries must seek out other organizations that specialize in providing monitoring solutions to obtain accurate monitoring solutions.
Apart from investments in motor installation, this can occasionally add to the overall cost structure. Different skill sets are required to monitor the data points generated by motor monitoring, which necessitates staff training and the establishment of a standard procedure for motor monitoring.
An energy audit is a government-mandated standard that governs the energy audit of various electrical devices. It offers comprehensive and systematic approaches for energy cost optimization, safety considerations, and enhancing industrial system operating and maintenance standards.
Because motors account for about 70% of energy usage in any industrial setting, motor monitoring devices might result in significant power savings and assist enterprises in complying with energy audits.
This form of implementation is required in North America, Europe, and Asia. Energy audits are required in various Asian nations, including China and India. Few nations in the Middle East and Africa, such as Tunisia and Algeria, require motor monitoring systems for energy audits due to excessive electricity use across the board.
The Energy Efficiency Directive in Europe requires prominent businesses to do energy audits every four years. Penalties are imposed if these responsibilities are not met. Hence, the adoption of motor monitoring systems becomes necessary, opening wide opportunities for market players in these regions.
Motor monitoring-based software, services, and equipment are expensive, and they require specific skill sets to operate. As a result, operators must devote more resources to motor monitoring sensors that control process training and maintenance. The motor monitoring market size determines the cost and the extent to which control services are deployed.
While several enterprises may recover these expenses relatively quickly, many small and medium-sized businesses have a longer payback time for control operations. Furthermore, the payback time and return on investment (ROI) are determined by the percentage of motor monitoring system failures that are likely to occur. When all of these considerations are considered, the payback period lengthens.
Predictive Maintenance and Analytics are Becoming Increasingly Popular
Predictive maintenance is becoming recognized as one of the most easily exploited digitalization applications. Predictive maintenance is an approach for forecasting when a piece of equipment will fail and replacing it before it does. This contributes to reduced downtime and component life extension. Predictive maintenance can save millions of dollars in lost output by preventing manufacturing line downtime. While still in its early stages, predictive maintenance is proven to be extremely beneficial to the projects by offering a new source of data for both OEMs and end users.
Predictive maintenance is crucial for motor and component safety, such as motor controllers and bearings. Predictive maintenance comprises assessing the motor's operating parameters while it is under full load, as well as the effective temperature and moisture conditions.
Predictive maintenance has several advantages for the industry, including minimizing the amount of time spent on asset maintenance, reducing downtime, which means fewer missed work hours, and extending the life of current assets to reduce the cost of replacing components.
Inadequate Technical Knowledge to Manage Monitoring Solutions
The increasing use of predictive maintenance and other monitoring systems is forcing businesses to establish specialized data analysis staff. To obtain accurate information on motor health, this team should be well-versed in motors as well as their operation in a specific machine. As a result, the indirect cost to businesses will rise.
Motor manufacturing firms do not readily supply monitoring solutions; hence, industries must look for other organizations that have competence in providing monitoring solutions. Apart from investments in motor installation, this can occasionally add to the overall cost structure. Different skill sets are necessary to monitor the data points generated by motor monitoring, which necessitates staff training as well as the establishment of a standard protocol for motor monitoring. The scarcity of skilled specialists at reasonable prices is projected to be the most significant impediment to market expansion over the forecast period.
Globally, there is a Growing Emphasis on Energy Audits and Laws
An energy audit is a government norm that governs various electrical devices. It includes comprehensive and systematic approaches for energy cost optimization, safety concerns, and enhancing industrial system operating and maintenance standards. It also aids in the availability of energy costs, energy mix options, power conservation, and reliable energy supply.
Power analyzers are required to help manufacturing units and production facilities in industries such as automotive, aerospace and defense, consumer electronics, and medical equipment comply with energy audits. Penalties apply if these responsibilities are not met. Because motors consume over 70% of the energy in any industrial setting, proper motor monitoring could result in significant power savings and help firms comply with energy audits.
Long Investment Payback Period
A higher initial investment in data gathering and analysis technologies, as well as installation, is required for continuous monitoring. System engineering and installation; field instrumentation (e.g., sensors, cabling); monitoring and diagnostic system (e.g., hardware and software, installation, software licenses); user training and customer support, if necessary; system maintenance (e.g., sensor replacement, software updates); and required external expertise and support are all key considerations when calculating the total cost of ownership. These software, services, and equipment are expensive, and they require certain skill sets to operate. As a result, operators must engage in additional training and maintenance of the motor control process.
The cost incurred is determined by the size of the industry and the extent of control service implementation. While these expenditures are recovered in a relatively short amount of time for large companies, many small and medium-sized businesses confront the difficulty of controlling process payback time. Furthermore, the payback period and return on investment (ROI) are affected by the proportion or likelihood of motor failure. When these considerations are considered, the payback period is extended.
Significant Growth in Oil and Gas
Oil and gas plants currently operate several complicated systems in industrial production. Aside from this complication, if a sudden breakdown happens in the form of misalignment, looseness, unbalance, or bearing wear, the financial and environmental repercussions could be disastrous.
Induction motors are a key piece of machinery in the oil and gas business, as they are in most industries, due to their versatility and durability. Induction motors offer rotating mechanical power to multiple systems, large and small, within an oil or gas refinery, and it is, therefore, critical to monitor their operation.
The oil and gas industry has long been a pioneer in the use of predictive maintenance technologies to optimize asset performance. Artesis predictive maintenance system, for example, offers to give all the benefits of traditional condition monitoring systems at a fraction of the complexity and cost.
Artesia MCM (motor condition monitor) provides comprehensive monitoring and diagnostic capabilities for most electric motor-driven equipment by employing an intelligent, model-based approach.
| Country | United States |
|---|---|
| CAGR (2017 to 2022) | 12.2% |
| Valuation (2023 to 2033) | USD 1.9 Billion |
| Country | United Kingdom |
|---|---|
| CAGR (2017 to 2022) | 11.2% |
| Valuation (2023 to 2033) | USD 231.5 million |
| Country | China |
|---|---|
| CAGR (2017 to 2022) | 11.8% |
| CAGR (2017 to 2022) | USD 394.7 million |
| Country | Japan |
|---|---|
| CAGR (2017 to 2022) | 10.7% |
| Valuation (2023 to 2033) | USD 322.6 million |
| Country | South Korea |
|---|---|
| CAGR (2017 to 2022) | 9.3% |
| Valuation (2023 to 2033) | USD 189.8 million |
With an increased industrial expansion in countries like China and India, Asia Pacific is expected to account for significant market growth. The Indian manufacturing industry is one of the fast-growing, with a 7.9% year-on-year increase.
The government's ‘Make in India’ initiative initiates plans to make India equally powerful for domestic and foreign enterprises, as well as to offer the Indian economy global respect. The demand for motor monitoring in this country will skyrocket as the scope expands.
China is a global manufacturing hub, encouraging investments in both the electricity and infrastructure sectors. Such initiative advances are likely to broaden the scope of current technology usage, including vibration monitoring solutions to help condition-based monitoring for motors.
Developed regions like North America and Europe are successfully leading in the global motor monitoring market due to the electrified transport and huge investments in energy infrastructures.
North America is likely to hold a significant market share in the global motor monitoring market. The factors behind the growth of the motor monitoring market in this region are increasing demand for electrical vehicles and lofty investments in heavy infrastructure development.
Due to environmental concerns and governments around the world looking for efficient and green sources of energy, the use of EVs and the use of motor monitoring sensors in them is increasing, and hence they are primarily in demand.
The motor monitoring survey explains that North America has invested more than USD 85 Billion in the energy infrastructure, according to the World Energy Investment report by International Energy Agency.
Even LMC International states that electric vehicles and other hybrid vehicle sales are expected to grow by 7% and 20%, respectively. The demand for motor monitoring systems is increasing globally due to the advent of electric vehicles and their increased applications. This will lead to high sales of motor monitoring devices. The market will thrive well than before with the new trends in the motor monitoring market.
A new research report on motor monitoring market explains that the market is increasing at a healthy rate as key players work on different strategies. The competitive landscape looks fierce with the involvement of established players, mid-level players, and new players entering the motor monitoring market.
As the market grows, new strategies and channels come into play. The critical global motor monitoring market players are ABB, General Electric, Siemens, Honeywell, Schneider Electric, Emerson, Eaton, Mitsubishi Electric, Rockwell Automation, and Qualitrol. Software suite & Expert services are included in the operations, service tools, and maintenance.
For example, SFK has tied hands with Sodra to provide better and more intelligent sensors that will have the ability to measure the vibrations and performance of multiple motors simultaneously. This solution came up with the launch of CONNECTIX from General Motors.
The motor monitoring market is quite competitive, with several prominent companies. Many industry companies are expanding their market worth by differentiating their products and services through unique solution offerings and predictive analytics integration.
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 2.5 Billion |
| Market Size Value in 2033 | USD 5.5 Billion |
| Market Analysis | USD Billion for Value |
| Key Region Covered | North America; Latin America; Europe; Asia Pacific; The Middle East & Africa |
| Key Segments | By Deployment type, By Monitoring Process, By End User, By Offering, By Region |
| Key Companies Profiled | ABB Group; Siemens AG; Honeywell International Inc.; National Instruments Corporation; General Electric Company |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Growing demand for electric vehicles, electric motors and new efficient sources of energy are the key driving forces behind the growing demand for hardware-based motor monitoring.
On-premise type of deployment or installation is the traditional way of monitoring motors. It involves storing the data and then submitting it physically with the help of motor monitoring sensors and motor monitoring modules. The on-premise segment has the most significant share in the global motor monitoring market share.
It is installed physically on motors, shafts, computers, and servers. The factors behind the preference for on-premise deployment type are the easy installation and the high security it provides to the user. The better control over data that it provides to the end user is also comparatively better than the cloud deployment type while storing data through any motor monitoring system.
It also provides accessible functions without networks and doesn’t involve third-party dealers. Even industries get a better hold over data with the help of on-premise deployment as it stores data physically. These are the key drivers behind the preference for on-premise deployment in the motor control market.
The online segment performs better than any other monitoring process as it is primarily used in plants and industries that are operational all day.
Adoption is also supported owing to its capability of storing data at any point in time. The decline in the prices of sensors, submitters, and other storage devices is also driving the high sales of motor monitoring devices. This process works through a wireless motor monitoring system and a monitoring induction motor.
The hardware segment is likely to perform better and leads the share of the global motor monitoring market.
The growing demand for electric vehicles, electric motors, and new efficient energy sources are the key driving forces behind the growing demand for all these hardware products. The hardware segment involves vibration sensors, infrared sensors, corrosion probes, ultrasound detectors, and spectrum analyzers.
The oil & gas segment is likely to hold a significant portion of the global market in the forecast period.
The primary factor behind the growth of this end-user segment is that a motor is an essential machine used in an oil & gas plant, and it needs constant monitoring to avoid any hazard. The motor monitoring devices help these plants drill in the remotest areas while analyzing the growth remotely, which contributes to their adoption in the industry.
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Market Value (US$ Million) Forecast by Offering, 2018 to 2033
Table 3: Global Market Value (US$ Million) Forecast by Deployment Type, 2018 to 2033
Table 4: Global Market Value (US$ Million) Forecast by Monitoring Process , 2018 to 2033
Table 5: Global Market Value (US$ Million) Forecast by End User, 2018 to 2033
Table 6: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 7: North America Market Value (US$ Million) Forecast by Offering, 2018 to 2033
Table 8: North America Market Value (US$ Million) Forecast by Deployment Type, 2018 to 2033
Table 9: North America Market Value (US$ Million) Forecast by Monitoring Process , 2018 to 2033
Table 10: North America Market Value (US$ Million) Forecast by End User, 2018 to 2033
Table 11: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 12: Latin America Market Value (US$ Million) Forecast by Offering, 2018 to 2033
Table 13: Latin America Market Value (US$ Million) Forecast by Deployment Type, 2018 to 2033
Table 14: Latin America Market Value (US$ Million) Forecast by Monitoring Process , 2018 to 2033
Table 15: Latin America Market Value (US$ Million) Forecast by End User, 2018 to 2033
Table 16: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 17: Europe Market Value (US$ Million) Forecast by Offering, 2018 to 2033
Table 18: Europe Market Value (US$ Million) Forecast by Deployment Type, 2018 to 2033
Table 19: Europe Market Value (US$ Million) Forecast by Monitoring Process , 2018 to 2033
Table 20: Europe Market Value (US$ Million) Forecast by End User, 2018 to 2033
Table 21: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 22: Asia Pacific Market Value (US$ Million) Forecast by Offering, 2018 to 2033
Table 23: Asia Pacific Market Value (US$ Million) Forecast by Deployment Type, 2018 to 2033
Table 24: Asia Pacific Market Value (US$ Million) Forecast by Monitoring Process , 2018 to 2033
Table 25: Asia Pacific Market Value (US$ Million) Forecast by End User, 2018 to 2033
Table 26: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 27: Middle East and Africa Market Value (US$ Million) Forecast by Offering, 2018 to 2033
Table 28: Middle East and Africa Market Value (US$ Million) Forecast by Deployment Type, 2018 to 2033
Table 29: Middle East and Africa Market Value (US$ Million) Forecast by Monitoring Process , 2018 to 2033
Table 30: Middle East and Africa Market Value (US$ Million) Forecast by End User, 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Offering, 2023 to 2033
Figure 2: Global Market Value (US$ Million) by Deployment Type, 2023 to 2033
Figure 3: Global Market Value (US$ Million) by Monitoring Process , 2023 to 2033
Figure 4: Global Market Value (US$ Million) by End User, 2023 to 2033
Figure 5: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 6: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 9: Global Market Value (US$ Million) Analysis by Offering, 2018 to 2033
Figure 10: Global Market Value Share (%) and BPS Analysis by Offering, 2023 to 2033
Figure 11: Global Market Y-o-Y Growth (%) Projections by Offering, 2023 to 2033
Figure 12: Global Market Value (US$ Million) Analysis by Deployment Type, 2018 to 2033
Figure 13: Global Market Value Share (%) and BPS Analysis by Deployment Type, 2023 to 2033
Figure 14: Global Market Y-o-Y Growth (%) Projections by Deployment Type, 2023 to 2033
Figure 15: Global Market Value (US$ Million) Analysis by Monitoring Process , 2018 to 2033
Figure 16: Global Market Value Share (%) and BPS Analysis by Monitoring Process , 2023 to 2033
Figure 17: Global Market Y-o-Y Growth (%) Projections by Monitoring Process , 2023 to 2033
Figure 18: Global Market Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 19: Global Market Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 20: Global Market Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 21: Global Market Attractiveness by Offering, 2023 to 2033
Figure 22: Global Market Attractiveness by Deployment Type, 2023 to 2033
Figure 23: Global Market Attractiveness by Monitoring Process , 2023 to 2033
Figure 24: Global Market Attractiveness by End User, 2023 to 2033
Figure 25: Global Market Attractiveness by Region, 2023 to 2033
Figure 26: North America Market Value (US$ Million) by Offering, 2023 to 2033
Figure 27: North America Market Value (US$ Million) by Deployment Type, 2023 to 2033
Figure 28: North America Market Value (US$ Million) by Monitoring Process , 2023 to 2033
Figure 29: North America Market Value (US$ Million) by End User, 2023 to 2033
Figure 30: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 31: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 32: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 33: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 34: North America Market Value (US$ Million) Analysis by Offering, 2018 to 2033
Figure 35: North America Market Value Share (%) and BPS Analysis by Offering, 2023 to 2033
Figure 36: North America Market Y-o-Y Growth (%) Projections by Offering, 2023 to 2033
Figure 37: North America Market Value (US$ Million) Analysis by Deployment Type, 2018 to 2033
Figure 38: North America Market Value Share (%) and BPS Analysis by Deployment Type, 2023 to 2033
Figure 39: North America Market Y-o-Y Growth (%) Projections by Deployment Type, 2023 to 2033
Figure 40: North America Market Value (US$ Million) Analysis by Monitoring Process , 2018 to 2033
Figure 41: North America Market Value Share (%) and BPS Analysis by Monitoring Process , 2023 to 2033
Figure 42: North America Market Y-o-Y Growth (%) Projections by Monitoring Process , 2023 to 2033
Figure 43: North America Market Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 44: North America Market Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 45: North America Market Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 46: North America Market Attractiveness by Offering, 2023 to 2033
Figure 47: North America Market Attractiveness by Deployment Type, 2023 to 2033
Figure 48: North America Market Attractiveness by Monitoring Process , 2023 to 2033
Figure 49: North America Market Attractiveness by End User, 2023 to 2033
Figure 50: North America Market Attractiveness by Country, 2023 to 2033
Figure 51: Latin America Market Value (US$ Million) by Offering, 2023 to 2033
Figure 52: Latin America Market Value (US$ Million) by Deployment Type, 2023 to 2033
Figure 53: Latin America Market Value (US$ Million) by Monitoring Process , 2023 to 2033
Figure 54: Latin America Market Value (US$ Million) by End User, 2023 to 2033
Figure 55: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 56: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 57: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 58: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 59: Latin America Market Value (US$ Million) Analysis by Offering, 2018 to 2033
Figure 60: Latin America Market Value Share (%) and BPS Analysis by Offering, 2023 to 2033
Figure 61: Latin America Market Y-o-Y Growth (%) Projections by Offering, 2023 to 2033
Figure 62: Latin America Market Value (US$ Million) Analysis by Deployment Type, 2018 to 2033
Figure 63: Latin America Market Value Share (%) and BPS Analysis by Deployment Type, 2023 to 2033
Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Deployment Type, 2023 to 2033
Figure 65: Latin America Market Value (US$ Million) Analysis by Monitoring Process , 2018 to 2033
Figure 66: Latin America Market Value Share (%) and BPS Analysis by Monitoring Process , 2023 to 2033
Figure 67: Latin America Market Y-o-Y Growth (%) Projections by Monitoring Process , 2023 to 2033
Figure 68: Latin America Market Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 69: Latin America Market Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 70: Latin America Market Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 71: Latin America Market Attractiveness by Offering, 2023 to 2033
Figure 72: Latin America Market Attractiveness by Deployment Type, 2023 to 2033
Figure 73: Latin America Market Attractiveness by Monitoring Process , 2023 to 2033
Figure 74: Latin America Market Attractiveness by End User, 2023 to 2033
Figure 75: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 76: Europe Market Value (US$ Million) by Offering, 2023 to 2033
Figure 77: Europe Market Value (US$ Million) by Deployment Type, 2023 to 2033
Figure 78: Europe Market Value (US$ Million) by Monitoring Process , 2023 to 2033
Figure 79: Europe Market Value (US$ Million) by End User, 2023 to 2033
Figure 80: Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 81: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 82: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 83: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 84: Europe Market Value (US$ Million) Analysis by Offering, 2018 to 2033
Figure 85: Europe Market Value Share (%) and BPS Analysis by Offering, 2023 to 2033
Figure 86: Europe Market Y-o-Y Growth (%) Projections by Offering, 2023 to 2033
Figure 87: Europe Market Value (US$ Million) Analysis by Deployment Type, 2018 to 2033
Figure 88: Europe Market Value Share (%) and BPS Analysis by Deployment Type, 2023 to 2033
Figure 89: Europe Market Y-o-Y Growth (%) Projections by Deployment Type, 2023 to 2033
Figure 90: Europe Market Value (US$ Million) Analysis by Monitoring Process , 2018 to 2033
Figure 91: Europe Market Value Share (%) and BPS Analysis by Monitoring Process , 2023 to 2033
Figure 92: Europe Market Y-o-Y Growth (%) Projections by Monitoring Process , 2023 to 2033
Figure 93: Europe Market Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 94: Europe Market Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 95: Europe Market Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 96: Europe Market Attractiveness by Offering, 2023 to 2033
Figure 97: Europe Market Attractiveness by Deployment Type, 2023 to 2033
Figure 98: Europe Market Attractiveness by Monitoring Process , 2023 to 2033
Figure 99: Europe Market Attractiveness by End User, 2023 to 2033
Figure 100: Europe Market Attractiveness by Country, 2023 to 2033
Figure 101: Asia Pacific Market Value (US$ Million) by Offering, 2023 to 2033
Figure 102: Asia Pacific Market Value (US$ Million) by Deployment Type, 2023 to 2033
Figure 103: Asia Pacific Market Value (US$ Million) by Monitoring Process , 2023 to 2033
Figure 104: Asia Pacific Market Value (US$ Million) by End User, 2023 to 2033
Figure 105: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033
Figure 106: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 107: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 108: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 109: Asia Pacific Market Value (US$ Million) Analysis by Offering, 2018 to 2033
Figure 110: Asia Pacific Market Value Share (%) and BPS Analysis by Offering, 2023 to 2033
Figure 111: Asia Pacific Market Y-o-Y Growth (%) Projections by Offering, 2023 to 2033
Figure 112: Asia Pacific Market Value (US$ Million) Analysis by Deployment Type, 2018 to 2033
Figure 113: Asia Pacific Market Value Share (%) and BPS Analysis by Deployment Type, 2023 to 2033
Figure 114: Asia Pacific Market Y-o-Y Growth (%) Projections by Deployment Type, 2023 to 2033
Figure 115: Asia Pacific Market Value (US$ Million) Analysis by Monitoring Process , 2018 to 2033
Figure 116: Asia Pacific Market Value Share (%) and BPS Analysis by Monitoring Process , 2023 to 2033
Figure 117: Asia Pacific Market Y-o-Y Growth (%) Projections by Monitoring Process , 2023 to 2033
Figure 118: Asia Pacific Market Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 119: Asia Pacific Market Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 120: Asia Pacific Market Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 121: Asia Pacific Market Attractiveness by Offering, 2023 to 2033
Figure 122: Asia Pacific Market Attractiveness by Deployment Type, 2023 to 2033
Figure 123: Asia Pacific Market Attractiveness by Monitoring Process , 2023 to 2033
Figure 124: Asia Pacific Market Attractiveness by End User, 2023 to 2033
Figure 125: Asia Pacific Market Attractiveness by Country, 2023 to 2033
Figure 126: Middle East and Africa Market Value (US$ Million) by Offering, 2023 to 2033
Figure 127: Middle East and Africa Market Value (US$ Million) by Deployment Type, 2023 to 2033
Figure 128: Middle East and Africa Market Value (US$ Million) by Monitoring Process , 2023 to 2033
Figure 129: Middle East and Africa Market Value (US$ Million) by End User, 2023 to 2033
Figure 130: Middle East and Africa Market Value (US$ Million) by Country, 2023 to 2033
Figure 131: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 132: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 133: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 134: Middle East and Africa Market Value (US$ Million) Analysis by Offering, 2018 to 2033
Figure 135: Middle East and Africa Market Value Share (%) and BPS Analysis by Offering, 2023 to 2033
Figure 136: Middle East and Africa Market Y-o-Y Growth (%) Projections by Offering, 2023 to 2033
Figure 137: Middle East and Africa Market Value (US$ Million) Analysis by Deployment Type, 2018 to 2033
Figure 138: Middle East and Africa Market Value Share (%) and BPS Analysis by Deployment Type, 2023 to 2033
Figure 139: Middle East and Africa Market Y-o-Y Growth (%) Projections by Deployment Type, 2023 to 2033
Figure 140: Middle East and Africa Market Value (US$ Million) Analysis by Monitoring Process , 2018 to 2033
Figure 141: Middle East and Africa Market Value Share (%) and BPS Analysis by Monitoring Process , 2023 to 2033
Figure 142: Middle East and Africa Market Y-o-Y Growth (%) Projections by Monitoring Process , 2023 to 2033
Figure 143: Middle East and Africa Market Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 144: Middle East and Africa Market Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 145: Middle East and Africa Market Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 146: Middle East and Africa Market Attractiveness by Offering, 2023 to 2033
Figure 147: Middle East and Africa Market Attractiveness by Deployment Type, 2023 to 2033
Figure 148: Middle East and Africa Market Attractiveness by Monitoring Process , 2023 to 2033
Figure 149: Middle East and Africa Market Attractiveness by End User, 2023 to 2033
Figure 150: Middle East and Africa Market Attractiveness by Country, 2023 to 2033
The motor monitoring industry is valued at USD 2.5 billion in 2023.
ABB Group, Siemens AG, and Honeywell International Inc. are the leading market players.
The online monitoring process segment is expected to lead the motor monitoring market.
The motor monitoring market registered a 12.6% CAGR from 2017 to 2022.
The United States motor monitoring is estimated to reach a valuation of USD 1.9 billion by 2033.
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Motor Monitoring Market
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