Condition Monitoring System Market
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<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong>: In-depth market<br />
segmentation by 2025<br />
December 2016<br />
Report Id : REP-GB-1046<br />
Status : Ongoing<br />
Category : Industrial Automation and Equipment<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved
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Research Methodology (1/2)<br />
<strong>System</strong>atic Research Approach<br />
<strong>Market</strong> profiling<br />
Formulating discussion guide<br />
Developing list of respondents<br />
Data collection<br />
Data validation<br />
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In-depth secondary research is used to<br />
ascertain overall market size, top<br />
industry players, top products, industry<br />
associations, etc.<br />
PMR formulates a detailed discussion<br />
guide to conduct expert and industry<br />
interviews<br />
PMR develops a list of industry players<br />
(manufacturers), distributors, retailers<br />
and industry experts<br />
PMR conducts interviews with industry<br />
experts, industry players, distributors<br />
and retailers<br />
Data is validated by triangulation<br />
method, wherein secondary, primary<br />
and PMR analysis contribute to the final<br />
data<br />
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Data<br />
Collection<br />
Data Filter<br />
& Analysis<br />
Identifying key opinion leaders<br />
Questionnaire design<br />
In-depth interviews<br />
Coverage across value chain<br />
<strong>Market</strong> participants<br />
Key strengths<br />
Product portfolio<br />
Mapping as per value chain<br />
Key focus segments<br />
A<br />
Primary<br />
Research<br />
C<br />
Company<br />
Analysis<br />
Research &<br />
Intelligence<br />
SOLUTION<br />
Actionable<br />
Insights<br />
B<br />
Desk<br />
Research<br />
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Business<br />
Solution<br />
Key industry experts<br />
Channel study<br />
Developments<br />
<strong>Market</strong> dynamics<br />
Products<br />
Conclusions<br />
Data analysis<br />
6<br />
Data is scrutinized using MS-Excel to<br />
obtain qualitative and quantitative<br />
insights about the industry<br />
Primary Research #<br />
Secondary Research #<br />
Paid Publications#<br />
Insights<br />
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PMR delivers industry insights and<br />
information in the required format<br />
(PDF)<br />
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Linkedin<br />
Zoominfo<br />
Salesforce<br />
Avention<br />
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Company websites<br />
Company annual<br />
reports<br />
White papers<br />
Financial reports<br />
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Factiva<br />
GBI<br />
Genios<br />
Meltwater<br />
# includes sources of databases<br />
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<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong><br />
<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong>: Overview<br />
The growing level of mechanization and automation in the manufacturing sector today has led to<br />
increased focus of players towards the efficiency of plant and hence the production processes. Thus it<br />
becomes vital to stop unscheduled outages of machines and optimize its performance. <strong>Condition</strong><br />
monitoring is a process that provides information about the health of a machine by well-timed<br />
monitoring of machine condition. High availability of machines is the most significant lever for increasing<br />
productivity of a manufacturing unit, therefore it becomes necessary to identify potential sources of<br />
errors beforehand. The condition monitoring system intends to predict the mechanical wear and failure<br />
of a machine and facilitates preventive maintenance, reduce repair time and hence down time of a<br />
machine. Vibration, temperature and noise measurements are the key indicators used in machine<br />
condition monitoring. <strong>Condition</strong> monitoring system acts as an important tool particularly for difficult to<br />
reach plant and machines that can only be reached under specific condition such wind turbine and oil &<br />
gas plants, so the condition of machine is monitored regularly using online machine condition monitoring<br />
system. Other type of condition monitoring systems available are route-based monitoring, portable<br />
machine diagnostics, factory assurance test and online machine protection.<br />
<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong>: Drivers and Restraints<br />
Higher productivity and optimized utilization of resources makes the condition monitoring system market<br />
lucrative. Increased automation in manufacturing, increased investment in predictive maintenance<br />
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<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong><br />
strategies and growing machine maintenance solution market is boosting the growth of condition<br />
monitoring system market. Also increased investments in chemicals, oil & gas, paper & pulp, heavy<br />
equipment and other industries tends to drive the condition monitoring system market.<br />
On the other hand high cost of condition monitoring systems and unpredictable maintenance periods are<br />
restraints to the growth of condition monitoring system market.<br />
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<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong>: Segmentation<br />
On the basis of type of condition monitoring system, the market is segmented as:<br />
Route-Based <strong>Monitoring</strong><br />
Portable Machine Diagnostics<br />
Online Machine <strong>Monitoring</strong><br />
Online Machine Protection<br />
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<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong><br />
On the basis of monitoring technology, the condition monitoring system market is segmented as:<br />
Vibration Analysis<br />
Corrosion monitoring<br />
Lubricant Analysis<br />
Infrared Thermography<br />
Ultrasound Testing<br />
Motor <strong>Condition</strong> <strong>Monitoring</strong><br />
On the basis of sensors and signals, the condition monitoring system market is segmented as:<br />
Accelerometers<br />
Proximity Probes<br />
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<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong><br />
On the basis of application, the condition monitoring system market is segmented as:<br />
Automotive<br />
Chemicals<br />
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<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong>: Region-wise Outlook<br />
Global condition <strong>Monitoring</strong> system is expected to encounter significant growth during the forecast<br />
period. North America dominates the condition monitoring system market, followed by North America,<br />
Europe is the next major market for the condition monitoring systems. Asia Pacific is emerging market for<br />
the condition monitoring system, and is anticipated to represent substantial growth during the forecast<br />
period, particularly in regions such as China and India. Japan is other significant region and expected to<br />
contribute major share in the global condition monitoring system market.<br />
<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong>: Key Players<br />
Key Players identified in the condition monitoring system market are<br />
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<strong>Condition</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong><br />
National Instruments Corporation.<br />
Rockwell Automation, Inc.<br />
PRÜFTECHNIK Dieter Busch AG.<br />
Svenska Kullagerfabriken AB (SKF)<br />
Siemens AG<br />
Bachmann electronic GmbH<br />
Brüel & Kjær Vibro GmbH<br />
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