PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1671872
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1671872
Machine Condition Monitoring Market, By Offerings, By Deployment, By End-use Industry, By Geography
Global Machine Condition Monitoring Market is estimated to be valued at USD 3.62 Bn in 2025 and is expected to reach USD 6.54 Bn by 2032, growing at a compound annual growth rate (CAGR) of 8.8% from 2025 to 2032.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2024 | Market Size in 2025: | USD 3.62 Bn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 8.80% | 2032 Value Projection: | USD 6.54 Bn |
Report Description:
Machine condition monitoring refers to the process of measuring and analyzing the condition of machines in order to identify faults during operation. With increased automation and digitization across industries, machine condition monitoring has gained prominence to ensure optimal performance of assets and mitigate unexpected failures. Rising need for predictive maintenance and asset management is a key factor driving the demand for machine condition monitoring systems globally. Advanced technologies such as smart sensors, IoT connectivity, big data analytics, and artificial intelligence are enabling next-generation machine condition monitoring solutions to precisely detect anomalies and faults in complex machinery. The machine condition monitoring market is poised to grow significantly in the coming years as industrial companies look to leverage data-driven maintenance strategies for optimized equipment uptime.
Market Dynamics:
The global machine condition monitoring market is witnessing robust growth driven by several factors such as the need for preventive maintenance, focus on reducing operational costs, and maximizing asset uptime. Advancements in IoT, wireless sensors, cloud platforms, and data analytics have enabled real-time equipment condition monitoring across industries. On the other hand, high upfront costs associated with installation and upgrades of machine condition monitoring systems could limit adoption to some extent. Furthermore, lack of skilled workforce and technical complexities related to integrating legacy machinery with modern solutions remain major challenges. However, growing demand from process and discrete manufacturing industries for predictive maintenance are expected to unleash new opportunities for market participants. Key players are investing in developing machine learning-based solutions for effective predictive analytics using large equipment datasets.
Key features of the study:
This report provides an in-depth analysis of the global machine condition monitoring market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global machine condition monitoring market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Advanced Technology Services, Inc., Allied Reliability,, Analog Devices Inc., Baker Huges Company, Crystal Instruments, Dewesoft, Emerson Electric Co., Fluke Corporation, General Electric,, Honeywell International, Meggit Plc,, National Instruments Corporation, Parker Hannifin Corporation, Rockwell Automation Inc., Schaeffler AG, SKF, and Amphenol Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global machine condition monitoring market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global machine condition monitoring market
Market Segmentation
- By Offerings
- Hardware
- Vibration Sensors
- Infrared Sensors
- Spectrometers
- Corrosion Probes
- Ultrasound Detectors
- Spectrum Analyzers
- Software
- Services
- Deployment
- Cloud
- On-premises
- End-use Industry
- Automotive
- Oil and Gas
- Power Generation
- Chemicals
- Metals and Mining
- Aerospace and Defense
- Food and Beverages
- Others
- Regional
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- Key Players Insights
- Advanced Technology Services, Inc.
- Allied Reliability,
- Analog Devices Inc.,
- Baker Huges Company
- Crystal Instruments
- Dewesoft
- Emerson Electric Co.
- Fluke Corporation
- General Electric,
- Honeywell International
- Meggit Plc,
- National Instruments Corporation
- Parker Hannifin Corporation
- Rockwell Automation Inc.
- Schaeffler AG
- SKF, Amphenol Inc.,
Table of Contents:
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Offerings
- Market Snapshot, By Deployment
- Market Snapshot, By End-use Industry
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. Global Machine Condition Monitoring Market - Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
5. Global Machine Condition Monitoring Market, By Offerings, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021-2032
- Segment Trends
- Hardware
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Vibration Sensors
- Infrared Sensors
- Spectrometers
- Corrosion Probes
- Ultrasound Detectors
- Spectrum Analyzers
- Software
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
6. Global Machine Condition Monitoring Market, By Deployment, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021-2032
- Segment Trends
- Cloud
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- On-premises
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
7. Global Machine Condition Monitoring Market, By End-use Industry, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021-2032
- Segment Trends
- Automotive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Oil and Gas
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Power Generation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Chemicals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Metals and Mining
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Aerospace and Defense
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Food and Beverages
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
8. Global Machine Condition Monitoring Market, By Region, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, By Region, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021-2032
- North America
- Regional Trends
- Market Size and Forecast, By Offerings, 2020 - 2032 (USD Billion)
- Market Size and Forecast, By Deployment, 2020 - 2032 (USD Billion)
- Market Size and Forecast, By End-use Industry, 2020 - 2032 (USD Billion)
- Market Share Analysis, By Country, 2025 and 2032 (%)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, By Offerings, 2020 - 2032 (USD Billion)
- Market Size and Forecast, By Deployment, 2020 - 2032 (USD Billion)
- Market Size and Forecast, By End-use Industry, 2020 - 2032 (USD Billion)
- Market Share Analysis, By Country, 2025 and 2032 (%)
- U.K.
- Germany
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, By Offerings, 2020 - 2032 (USD Billion)
- Market Size and Forecast, By Deployment, 2020 - 2032 (USD Billion)
- Market Size and Forecast, By End-use Industry, 2020 - 2032 (USD Billion)
- Market Share Analysis, By Country, 2025 and 2032 (%)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, By Offerings, 2020 - 2032 (USD Billion)
- Market Size and Forecast, By Deployment, 2020 - 2032 (USD Billion)
- Market Size and Forecast, By End-use Industry, 2020 - 2032 (USD Billion)
- Market Share Analysis, By Country, 2025 and 2032 (%)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Offerings, 2020 - 2032 (USD Billion)
- Market Size and Forecast, By Deployment, 2020 - 2032 (USD Billion)
- Market Size and Forecast, By End-use Industry, 2020 - 2032 (USD Billion)
- Market Share Analysis, By Country/Sub-region, 2025 and 2032 (%)
- South Africa
- GCC Countries
- Israel
- Rest of the Middle East & Africa
9. Competitive Landscape
- Company Profiles
- Advanced Technology Services, Inc.*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Allied Reliability,
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Analog Devices Inc.,
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Baker Huges Company
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Crystal Instruments
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Dewesoft
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Emerson Electric Co.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Fluke Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- General Electric,
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Honeywell International
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Meggit Plc,
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- National Instruments Corporation
- Parker Hannifin Corporation
- Rockwell Automation Inc.
- Schaeffler AG
- SKF, Amphenol Inc.
- Advanced Technology Services, Inc.*
10. Wheel of Fortune
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
11. Section:
- Research Methodology
- About Us
