TMCnet News
The equipment monitoring market is estimated to grow from USD 3.23 billion in 2018 to USD 4.47 billion by 2023, at a CAGR of 6.7% between 2018 and 2023LONDON, May 30, 2018 /PRNewswire/ -- The equipment monitoring market is expected to grow at a CAGR of 6.7% during the forecast period The metals & mining and oil & gas industries are developing at a rapid pace in Canada and Mexico. These factors are expected to drive the market growth in North America. APAC is evolving as the world's most powerful economy because of increasing investments on improving performance, security, and economic stability.Manufacturers in China, one of the top emerging economies, are adopting real-time equipment monitoring systems to improve operational efficiency and productivity. The market for equipment monitoring solutions is on the rise in the utilities sector because of better critical asset management. The demand for equipment monitoring solutions and services is expected to increase in APAC because of the need for conditioning-based maintenance in industries. Given below is the breakdown of the profile of the primary participants in terms of different parameters considered while studying the report: • By Company Type: Tier 1 = 30%, Tier 2 = 38%, and Tier 3 = 32% • By Designation: C-Level Executives = 44%, Directors = 38%, and Others = 18% • By Region: North America = 30%, Europe = 32%, APAC = 26%, and RoW = 12% Key players operating in the equipment monitoring market include Emerson Electric (US), General Electric (US), Honeywell (US), National Instruments (US), SKF (Sweden), Parker-Hannifin (US), Rockwell Automation (US), Siemens (Germany), Yokogawa (Japan), and PRUFTECHNIK (Germany). Research Coverage In this report, various segments such as monitoring type, deployment types, monitoring processes, industries, and geographic region have been covered.It also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across 4 main regions: North America, Europe, APAC, RoW. Reasons to Buy the Report: • This report includes the equipment monitoring market sizing in terms of value based on monitoring type, deployment types, monitoring processes, industries, and geographic regions, along with respective countries. • Drivers, restraints, opportunities, and challenges related to the equipment monitoring market growth have been provided in detail in this report. • The report includes illustrative segmentation, analysis, and forecast for the equipment monitoring market. • Value chain analysis has been performed to provide an in-depth insight into the equipment monitoring market. • The report includes a detailed competitive landscape, along with key players, in-depth analysis, and revenues of key players. Download the full report: https://www.reportbuyer.com/product/5404206 About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +1 (718) 213 4904 Website: www.reportbuyer.com SOURCE ReportBuyer |