A recent report published by Infinium Global Research on motor monitoring market provides in-depth analysis of segments and sub-segments in the global as well as regional motor monitoring market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional motor monitoring market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global motor monitoring market. According to the report, the global motor monitoring market is projected to grow at a CAGR of 7.2% over the forecast period of 2019-2025.
The increasing demand from various end-user sectors such as oil & gas, power generation metals & mining, chemicals, food & beverages, water & wastewater, automotive and aerospace & defense have a positive impact on the global motor monitoring market. Moreover, increasing inclination towards the wireless technologies in the industrial sector and adoption of cloud computing platform, leveraging huge growth prospectus to the motor monitoring market growth. The ongoing research and development activities by key manufacturers offer growth opportunities for the motor monitoring market. For instance, GE Oil & Gas launched TransPort PT900 Portable Ultrasonic Flow Meter, a clamp-on meter for liquid flow measurement.
The motor monitoring system includes the sensors, instruments, diagnostic software and services needed to ensure monitoring the motors, generators, clutches in various end-use industries. The benefits of using motor motoring in end-user industries will be one of the major global motor monitoring market drivers during the forecast period. Motor monitoring offers advantages such as predictive maintenance, providing insights for making better strategic decisions and minimize revenue loss caused by motor failures. Moreover, growing popularity regarding online motor monitoring process is also triggering the market growth. Online motor monitoring is an advanced monitoring process and provides real-time data to plant workers.
Among the region, North America is expected to hold immunes share in the global motor monitoring market over the forecast period. The growth of this region is attributed owing to the adoption of advanced technologies, presence of major manufacturers in this region along with high adoption of motor monitoring systems across the various end-use industries. Europe is expected to experiences a moderate growth rate in the global motor motoring market throughout the forecast period. On the other hand, the Asia Pacific motor monitoring market is projected to witness highest growth rate owing to the presence of huge industrial sector in this region.
The report on global motor monitoring market covers segments such as offerings, monitoring process, deployment, and end-user industries. On the basis of offerings, the sub-markets include software, and hardware. On the basis of monitoring process, the sub-markets include online, and portable. On the basis of deployment, the sub-markets include on-premise, and cloud. On the basis of end-user industries, the sub-markets include oil and gas, automotive, power generation, metals and mining, food and beverages, chemicals, aerospace and defense, and other end-user industries.
The report provides profiles of the companies in the market such as Qualitrol, Rockwell Automation, Inc., The Emerson Electric Co., General Electric Company, Honeywell International Inc., Siemens AG, National Instruments Corporation, ABB, Banner Engineering India Pvt. Ltd., and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of motor monitoring market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.