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Global Motor Monitoring Market, Forecast to 2026

[316 Pages Report] The motor monitoring market is expected to grow from an estimated USD 2.0 billion in 2021 to USD 2.9 billion by 2026, at a CAGR of 7.8% during the forecast period. Motor monitoring is increasingly being installed and is showing robust growth.<br>

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Global Motor Monitoring Market, Forecast to 2026

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  1. Motor Monitoring Market by Offering (Hardware, Software, Services), Monitoring Process (Online, Portable), End-User Industry (Oil & Gas, Power Generation, Metals & Mining, Chemicals, Automotive), Deployment and Region - Global Forecast to 2026 www.MarketsandMarkets.com

  2. The motor monitoring market size will grow to  USD 2.9 billion by 2026 from USD 2.0 billion in 2021, at a CAGR of 7.8% during the forecast period. The growing demand for predictive maintenance and analytics is one of the driving factors for the motor monitoring market, globally. Predictive maintenance is gaining recognition as one of the more easily exploited applications of digitalization. Predictive maintenance (PdM) is a strategy for predicting when equipment will break and replacing the component before it fails. This aids in the reduction of downtime and the extension of component life. View detailed Table of Content here – https://www.marketsandmarkets.com/Market-Reports/motor-monitoring-market-142439618.html

  3. The hardware segment is expected to dominate the motor monitoring market, by offering, during the forecast period. The hardware segment is estimated to account for the largest market share of 69.2% of the motor monitoring market in 2021. This segment is expected to maintain its high market share during the forecast period, as various industries require sensors and other hardware components for motor monitoring. Moreover, with increasing penetration of IoT in end-user industries, various hardware components will be required to establish network connection; this will fuel the demand for hardware in the motor monitoring market. Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=142439618

  4. The Oil & Gas segment is expected to be the largest motor monitoring market, by end-user industry, during the forecast period. The Oil & Gas segment is expected to account for the largest share of the motor monitoring market during 2021-2026. This trend is expected to continue during the forecast period. The oil & gas industry is one of the biggest end users of motors and deploys many motors that are very critical for operations and face harsh environmental situations. Thus, motor monitoring plays an important role in the oil & gas sector. Apart from that, the increasing focus on safety in drilling activities will also provide more opportunities to the motor monitoring market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=142439618

  5. Browse >> 303market data tables 54figures 316 pagesand in-depth TOC on “Motor Monitoring Market - Global Forecast to 2026” Early buyers will receive 10% customization on this report. This is a Premium Report Priced at US $4950 for single user. Corporate User : US$8150 This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

  6. North America likely to emerge as the largest motor monitoring market In this report, the motor monitoring market has been analyzed for five regions, namely, North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to dominate the global motor monitoring market between 2021–2026. North America is at the forefront in deploying asset performance management and condition monitoring solutions, which are efficient in providing early warning notification with predictive analytics and diagnosis of equipment issues days, weeks, or months before failure. In recent years, the development of various software and deployment of automation solutions in various industries have improved business operations and consequently fueled the growth of the motor monitoring market in North America. Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=142439618

  7. Key players - • To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Motor Monitoring Market. These include • General Electric (US), • Siemens (Germany), • ABB  (Switzerland), • Honeywell (US), • Schneider Electric (France) and many more... • Buy Now : - https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=142439618

  8. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

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