Global Motor Monitoring System Market Report, History and Forecast 2016-2027, Breakdown Data by Companies, Key Regions, Types and Application

Electrical motors can be found everywhere and their crucial role is to power various equipment in industrial plants. They are supposed to work continually and any interruption in their work can cause serious problems. For instance in chemical and process industries there are huge revenue losses if motor driven cooling pumps stop working properly. Statistics show that motors like other rotating machines suffer from serious faults that can be timely predicted with a monitoring system. The Motor Monitoring System is designed specifically for condition monitoring applications. This report studies the hardware which include many sensors and software and services.
The major producers in this industry are ABB, Schneider Electric and Siemens, whose 2019 revenue accounts for 7.58%, 6.64% and 6.16% respectively. By region, North America had the highest share of income in 2019, at 34.93%.

Market Analysis and Insights: Global Motor Monitoring System Market
The research report studies the Motor Monitoring System market using different methodologies and analyzes to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market. Each area is then elaborated to help the reader comprehend the growth potential of each region and its contribution to the global market. The researchers have used primary and secondary methodologies to collate the information in the report. They have also used the same data to generate the current market scenario. This report is aimed at guiding people towards an apprehensive, better, and clearer knowledge of the market.
The global Motor Monitoring System market size is projected to reach US$ 2865.6 million by 2027, from US$ 1828.9 million in 2020, at a CAGR of 6.6% during 2021-2027.

Global Motor Monitoring System Scope and Segment
The global Motor Monitoring System market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Motor Monitoring System market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application for the period 2016-2027.

Segment by Type
Hardware
Software and Services
Hardware was the most widely used type which takes up over 74% of the global revenue share in 2019.

Segment by Application
Metals and Mining
Oil and Gas
Power Generation
Water and Wastewater
Food and Beverages
Chemicals and Pharmaceutical
Automotive
Aerospace and Defense
Others
Oil and gas hold an important share in terms of applications, and account for more than 22.03% of the revenue share.

By Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Latin America
Mexico
Brazil
Middle East & Africa
Turkey
Saudi Arabia
UAE

By Company
ABB
Schneider Electric
Siemens
Emerson
Honeywell
Rockwell Automation
Mitsubishi Electric
Bently Nevada (Baker Hughes)
Qualitrol
Eaton
National Instruments
Dynapar
Megger
Phoenix Contact
Koncar
KCF Technologies
Advantech
Banner Engineering