HomeBusinessMotor Monitoring Market worth USD 2.3 Billion by 2023 | Latest Innovation, Advance Technology, Top Companies
Motor Monitoring Market worth USD 2.3 Billion by 2023 | Latest Innovation, Advance Technology, Top Companies
July 21, 2021
A fresh report titled on “Motor Monitoring Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
Top Companies profiled in the Motor Monitoring Market:
Banner Engineering (US)
National Instruments (US)
General Electric (US)
Emerson Electric (US)
Rockwell Automation (US)
Schneider Electric (France)
Mitsubishi Electric (Japan)
KCF Technologies (US)
Phoenix Contact (Germany)
F. Hudgins (US)
The Motor Monitoring Market is expected to grow from US$ 1.6 Billion in 2018 to US$ 2.3 Billion by 2023, at a CAGR of 7.4% between 2018 and 2023. This report spread across 120 pages, profiling 11 companies and supported with 64 tables and 17 figures is now available in this research.
“Online motor monitoring process to continue to hold larger share of market during forecast period”
The online monitoring process is expected to continue to hold a larger share of the motor monitoring market during the forecast period. The online motor monitoring systems include a sequence of sensors permanently mounted on motors for sensing their behavior. These sensors are connected to output devices such as monitors, analyzers, and central servers, and transmit data to plant operators either through a wireless network or cable network.
“Motor monitoring market for automotive industry to grow at highest CAGR from 2018 to 2023”
The market for automotive is expected to grow at a significant CAGR during the forecast period. With the changing customer requirements, the automotive players are facing challenges regarding the implementation of a solution for effective quality management, while keeping the production levels up. Quality management is directly related to the health of motors in the machines used to design and manufacture automobiles.
Breakdown of primary participants’ profile:
By Company Type: Tier 1 – 65%, Tier 2 – 10%, and Tier 3 – 25%
By Designation: C-Level Executives – 74% and Others– 26%
By Region: North America – 35%, Europe – 15%, APAC – 40%, and RoW – 10%
The report would help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall motor monitoring market and the sub segments. It is also likely to help stakeholders understand the competitive landscape and gain more insights to better position their businessesas well as to plan suitable go-to-market strategies.