Equipment Monitoring market share research by applications and regions for 2018-2024

1
Equipment Monitoring market share research by
applications and regions for 2018-2024 Global
Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
2
Overview of Equipment Monitoring Market

• The U.S. equipment monitoring market is predicted
  to grow significantly owing to the presence of a
  large number of equipment producers and consumers
  in the country. The increased advances in the
  industrial sector and the automation in the
  region have led to the maximum utilization of
  these systems. These systems are efficiently
  operated in the country due to the availability
  of skilled workforce and system operators. The
  emerging economies in the Asia Pacific region
  including China, Japan, and India are expected to
  cover the largest equipment monitoring market
  share. The growth is attributed to an increase in
  the number of facilities manufacturing consumer
  electronics and semiconductors in China and
  Taiwan. Additionally, increasing organizational
  investments improve equipment security,
  stability, and performance in India.
• Equipment Monitoring Market size is driven by the
  increasing demand for predictive maintenance of
  the in-service devices and components. The
  industries are focusing on these maintenance
  strategies to reduce the equipment repair cost
  and for efficient operations. This aids the
  organizations in improving the asset management
  and operational efficiency. The combination of
  these systems with predictive maintenance concept
  helps small companies enhance their machine
  lifecycles and maintenance capabilities. These
  monitoring systems have a high demand in the
  equipment monitoring market owing to their
  benefits such as fleet control, security
  provision, site efficiency, and health safety
  monitoring.

3
Continue

• The increased government initiatives in several
  countries that focus on digitization and
  industrial automation are driving the equipment
  monitoring market growth. These systems
  implemented in various industrial applications
  allow the efficient management of equipment by
  using either software or solutions. For instance,
  in September 2014, the government of India
  launched the Make in India initiative that
  focused on making industrial automation
  compulsory in the manufacturing industry to gain
  better productivity and higher output in heavy
  industrial manufacturing.
• A major trend in the equipment monitoring market
  is the innovations in software developed for IoT
  devices, providing task simplification for the
  equipments operational systems. These solutions
  are used in industrial IoT applications to track
  the usage of heavy equipment, behavior patterns
  at production sites, and for comparing the
  product performances. The increasing
  implementation of industry 4.0 is also driving
  the equipment monitoring market owing to
  improvisations in the product quality and the
  test efficiency provided by these systems. The
  production and manufacturing facilities in
  industrial IoT consist of automated detector
  systems, such as ATE and visual detection
  devices, which provide real-time monitoring for
  production processes and equipment availability
  management.

4

Browse Full Research Report On Equipment
Monitoring Market _at_ https//bit.ly/2xnLZUp
Request for an in-depth table of contents
for this report _at_ https//bit.ly/2NRal2p
gminsights.com/request-toc/upcoming/1797
5
Continue

• The equipment monitoring market is witnessing the
  implementation of big data analytics in these
  systems and software. These analytics assist in
  the prediction of failure risks that aid the
  operators of large equipment in taking a
  corrective action by adjusting the production
  lines before a failure occurs. Big data analytics
  is used in the systems to help the users manage
  the equipment and update the operating status of
  the machinery.
• The equipment monitoring market power generation
  application has gained popularity in the recent
  years. This segment is expected to dominate the
  industry owing to its varied implementation in
  power plant conditioning monitoring, generator
  health conditioning, and diagnostics of the power
  plant machinery. These also aid in maximizing the
  power plant profits by improving the efficiency
  and reducing the maintenance costs. The oil gas
  segment in the equipment monitoring market is
  expected to grow at a high pace over the forecast
  period. The growth is attributed to increased
  incorporation of these electronics in components
  such as compressor, tank, LACT meter, and
  rectifier monitoring in the large oil fields.

6
Continue

• Players in the equipment monitoring market
  include Emerson Electric, General Electric,
  Honeywell International, Inc., Rockwell
  Automation, SKF, National Instruments, Siemens
  AG, Parker Hannifin Corp., SPM Instrument, and
  Fluke Corporation. Several companies adopt
  product development and innovations,
  acquisitions, mergers, collaborations, and
  partnership strategies to provide
  technically-advanced monitoring systems to their
  clients. For instance, in August 2017, Emerson
  Electric Co. announced the launch of its wireless
  equipment monitoring system for applications in
  manufacturing plant operations. This system
  incorporates wireless instruments and software
  analytics for monitoring the manufacturing
  plants.

7
Methodology

• Market
  research reports Key analytical components

8
Stay In Touch Website www.gminsights.com Soci
al Media