Global Motor Monitoring System Market Size, Status and Forecast 2021-2027

Electrical motors can be found everywhere and their crucial role is to power various equipment in industrial plants. They are supposed to work continually and any interruption in their work can cause serious problems. For instance in chemical and process industries there are huge revenue losses if motor driven cooling pumps stop working properly. Statistics show that motors like other rotating machines suffer from serious faults that can be timely predicted with a monitoring system. The Motor Monitoring System is designed specifically for condition monitoring applications. This report studies the hardware which include many sensors and software and services.
The major producers in this industry are ABB, Schneider Electric and Siemens, whose 2019 revenue accounts for 7.58%, 6.64% and 6.16% respectively. By region, North America had the highest share of income in 2019, at 34.93%.

Market Analysis and Insights: Global Motor Monitoring System Market
The global Motor Monitoring System market size is projected to reach US$ 2865.6 million by 2027, from US$ 1828.9 million in 2020, at a CAGR of 6.6% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Motor Monitoring System market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Motor Monitoring System market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Motor Monitoring System market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Motor Monitoring System market.

Global Motor Monitoring System Scope and Market Size
Motor Monitoring System market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Motor Monitoring System market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Hardware
Software and Services
Hardware was the most widely used type which takes up over 74% of the global revenue share in 2019.

Segment by Application
Metals and Mining
Oil and Gas
Power Generation
Water and Wastewater
Food and Beverages
Chemicals and Pharmaceutical
Automotive
Aerospace and Defense
Others
Oil and gas hold an important share in terms of applications, and account for more than 22.03% of the revenue share.

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
ABB
Schneider Electric
Siemens
Emerson
Honeywell
Rockwell Automation
Mitsubishi Electric
Bently Nevada (Baker Hughes)
Qualitrol
Eaton
National Instruments
Dynapar
Megger
Phoenix Contact
Koncar
KCF Technologies
Advantech
Banner Engineering