Machine Condition Monitoring Market Share

Statistics for the 2023 & 2024 Machine Condition Monitoring market share, created by Mordor Intelligence™ Industry Reports. Machine Condition Monitoring share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

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Market Share of Machine Condition Monitoring Industry

The Machine Condition Monitoring Market is moderately competitive, with several players. Some of the players operating in the market include Rockwell Automation, Inc., Meggitt PLC, GE Bently Nevada, Emerson Electric Co., and SKF Group, among others. These players are adopting several strategies, such as product launches, partnerships, and joint ventures, among others, to increase their customer base and expand their product portfolios.

  • November 2022 - Advantech and Actility have announced a novel combined AI-based solution to assist machine operation teams in implementing machine prognostics and condition monitoring. It enables users to check the status of several devices at the same time.
  • September 2022 - ABB and Samotics, a high-growth scaleup business in the Netherlands and a prominent vendor of ESA technology have formed a long-term strategic cooperation to deliver better condition monitoring services. The method will use each company's strengths to provide more insights into equipment health and power efficiency.

Machine Condition Monitoring Market Leaders

  1. Rockwell Automation, Inc.

  2. Meggitt PLC

  3. GE Bently Nevada

  4. Emerson Electric Co.

  5. SKF Group

*Disclaimer: Major Players sorted in no particular order

Machine Condition Monitoring Market Concentration

Machine Condition Monitoring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)