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Equipment Monitoring Market to Witness Huge Growth by Key Players: Emerson Electric, General Electric, Honeywell, National Instruments, SKF, Parker-Hannifin, Rockwell Automation, Siemens, Yokogawa and Others.

05-02-2020 11:24 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ReportsandReports

Equipment Monitoring Market to Witness Huge Growth by Key

According to Market Study Report, Equipment Monitoring Market provides a comprehensive analysis of the Equipment Monitoring Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, technological trends and emerging opportunities of global industry. This report also provides market landscape and market share information in the Equipment Monitoring Market. An exclusive data offered in this report is collected by research and industry experts team.

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The Equipment Monitoring Market is estimated to grow from USD 3.23 Billion in 2018 to USD 4.47 Billion by 2023, at a CAGR of 6.7% between 2018 and 2023. This report spread across 161 pages, profiling 10 companies and supported with 67 tables and 53 figures are now available in this research.

Top Key Players Profiled in the Equipment Monitoring Market:
o Emerson Electric (US)
o General Electric (US)
o Honeywell (US)
o National Instruments (US)
o SKF (Sweden)
o Parker-Hannifin (US)
o Rockwell Automation (US)
o Siemens (Germany)
o Yokogawa (Japan)
o PRUFTECHNIK (Germany)

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"The market for motor current monitoring is expected to witness a higher CAGR during the forecast period"
The market for motor current monitoring solutions is estimated to grow at a higher CAGR during the forecast period. In the motor current monitoring technique, the current signal is processed to obtain the frequency spectrum, usually referred to as current signature. To analyze data, various advanced techniques such as fast Fourier transform (FFT), short-time Fourier transform (STFT), Gabor transform, and wavelength transform are used to diagnose errors in operating equipment.

"The market for online equipment monitoring is expected to witness the highest CAGR during the forecast period"
The market for online equipment monitoring is estimated to grow at a higher CAGR during the forecast period. Online equipment monitoring is an advanced monitoring process and provides real-time data to plant operators than portable equipment monitoring, resulting in higher demand for online equipment monitoring. Online equipment monitoring not only provides critical information for maintaining the process performance but also provides instant alerts to problems that might go unnoticed.

"North America is expected to dominate the equipment monitoring market, while APAC is expected to grow at the highest CAGR during the forecast period"
North America held the largest share of the equipment monitoring market in 2017 owing to the presence of major equipment monitoring vendors. Reasons behind North America capturing the largest market share are industrial developments, availability of skilled laborers, and decisive and supportive government policies.

Breakdown of primary participants' profile:
o By Company Type: Tier 1= 30%, Tier 2= 38%, and Tier 3= 32%
o By Designation: C-Level Executives= 44%, Directors= 38%, and Others= 18%
o By Region: North America= 30%, Europe= 32%, APAC = 26%, and RoW= 12%

Competitive Landscape of Equipment Monitoring Market:
1 Overview
2 Market Ranking Analysis
3 Competitive Situations and Trends
3.1 New Product Launches and Developments, 2015-2017
3.2 Contracts and Agreements, 2015-2017
3.3 Acquisitions and Collaborations, 2015-2017
3.4 Expansions, 2017

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Reason to access this report:
In this report, various segments such as monitoring type, deployment types, monitoring processes, industries, and geographic region have been covered. It also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across 4 main regions: North America, Europe, APAC, RoW.

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