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(IT-NEWSWIRE.COM, June 20, 2018 ) Woodridge, USA Jun 2018(News) - Machine Condition Monitoring Market is the process of monitoring the condition of a machine with the commitment to predict mechanical wear and tear. Vibration, noise, and temperature measurements are often used as key indicators of the state of the machine. Trends in the data provide health information about the machine and help to detect machine faults early, which prevents unexpected failure and costly repair. It has been observed that an increase in need for reduced maintenance cost is boosting the machine condition monitoring market. In this changing environment, a shift from preventive to predictive maintenance is observed which has led to high adoption of machine condition monitoring.
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The machine condition monitoring provides numerous benefits as increased machine availability and reliability, improved operating efficiency, improved risk management (less downtime), reduced maintenance costs (better planning), reduced spare parts inventories, improved safety, improved knowledge of the machine condition (safe short-term overloading of machine possible), extended operational life of the machine, improved customer relations (less planned/unplanned downtime), elimination of chronic failures among others.
Key Players:
The key players of machine condition monitoring market include Emerson Electric (U.S.)
General Electric (U.S.)
Honeywell International Inc. (U.S.)
Rockwell Automation (U.S.)
Timken (U.S.)
FLIR Systems (U.S.)
SKF (Sweden)
NSK (Japan)
Parker-Hannifin (U.S.)
PCB Piezotronics (U.S.)
Halma (U.K.)
National Instruments (U.S.)
Shinkawa (Japan)
Azima DLI (U.S.)
Bruel & Kjaer Sound and Vibration Measurement (U.S.)
Fluke Corporation (U.S.)
PDS Condition Monitoring Services (Australia)
Saj Engineering & Trading Company (Bangladesh)
Scientific Monitoring, Inc. (U.S.)
SPM Instrument (Sweden) and others.
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Global Machine Condition Monitoring Market Analysis & Forecast, from 2016 to 2023
To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the machine condition monitoring market.
To provide insights about factors affecting the market growth.
To analyze the machine condition monitoring market based on porters five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World.
To provide country level analysis of the market with respect to the current market size and future prospective.
To provide country level analysis of the market for segment on the basis of output, technology and end user.
Target Audience:
Machine Condition Monitoring Equipment Manufactures
Technology Providers
Distributors
Research firms
Consultancy firms
Semiconductor Manufacturers
Stakeholders
End-user sectors
Technology Investors
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Key Findings:
The Global Machine condition monitoring market is expected to reach USD 2,916.54 million by 2023.
By End-user, automotive industry holds the largest market share of USD 486.4 million by the end of forecast period.
The pharmaceutical industry is expected to grow with a highest CAGR of 6.54% during the forecast period.
Geographically, North America has been projected to have the largest market share in global machine condition monitoring market and has been projected to emerge as the fastest growing region..
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Source: EmailWire.Com 
Source: EmailWire.com
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