How big is the Motor Monitoring Market?

The Motor Monitoring Market size is expected to reach USD 2.67 billion in 2024 and grow at a CAGR of 10.46% to reach USD 4.40 billion by 2029. Read More

What is the current Motor Monitoring Market size?

In 2024, the Motor Monitoring Market size is expected to reach USD 2.67 billion. Read More

Who are the key players in Motor Monitoring Market?

ABB Group, Siemens AG, Honeywell International Inc., National Instruments Corporation and General Electric Company are the major companies operating in the Motor Monitoring Market. Read More

Which is the fastest growing region in Motor Monitoring Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Motor Monitoring Market?

In 2024, the North America accounts for the largest market share in Motor Monitoring Market. Read More

What years does this Motor Monitoring Market cover, and what was the market size in 2023?

In 2023, the Motor Monitoring Market size was estimated at USD 2.42 billion. The report covers the Motor Monitoring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Motor Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Motor Monitoring Market - Size, Share & Industry Analysis

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

Global Motor Monitoring System Market is Segmented by Offerings (Hardware, Software), Deployment (Cloud, On-Premise), End-User (Automotive, Oil & Gas, Energy & Power, Mining, Food & Beverage, Chemicals, Aerospace & Defense), and Geography (North America, Europe, Asia-Pacific, Rest of the World). The market sizes and forecasts are provided in terms of value (USD million) for the above segments.

Motor Monitoring Industry Overview

The motor monitoring market is fragmented and consists of several major players. With innovative solution offerings and predictive analytics integration, many of the market players are increasing their market worth by product and service differentiation. Key players are ABB Group, Siemens AG, etc.

In February 2023, OMRON announced to release of the K7DD-PQ Series of advanced motor condition monitoring devices starting in March 2023 in Japan and globally in April 2023. The K7DD-PQ numerically tracks trends in the deterioration and wear of servomotors, machine tools, and other equipment to reduce inspection efforts and prevent unexpected failure.