Machine Health Monitoring Market

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MarketsandMarkets Presents
Machine Health Monitoring Market worth 2.50
Billion by 2020
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chine-health-monitoring-market-29627363.html
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According to a new market research report
"Machine Health Monitoring Market by
product(vibration monitoring, thermography,
ultrasound emission, lubricating oil analysis,
corrosion monitoring, motor current signature
analysis), Component, Application and Geography
Global Forecast to 2014 - 2020" published by
MarketsandMarkets , the market is expected to
reach 2.50 Billion at a CAGR of 7.16 from 2014
to 2020. http//www.marketsandmarkets.com/Market-
Reports/machine-health-monitoring-market-29627363.
html Browse 126 Market Data Tables 50
Figures 331 Pages Early buyers will receive 10
customization on this report.
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chine-health-monitoring-market-29627363.html
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Machine health monitoring is an uninterrupted
assessment of the equipment and machinery.
Machine health monitoring system can be
implemented to reduce plant operating costs by
optimizing maintenance activities and lowering
the instances of unscheduled outages. Thus it
helps in reducing the overall maintenance costs
and improving the lifetime of equipment. The
market over the next few years will be driven by
fast-paced technology developments and
introduction of innovative products. Development
of low-cost and advanced health monitoring
equipment, integrated with quick processing
functions, direct communication procedures, and
improved software will attract tremendous
opportunities for the market in the coming
years. This report covers the machine health
monitoring market based on components, products,
applications, and geography. The segmentation by
component includes Corrosion probes,
Spectrometer, Spectrum Analyzer, Thermal Camera,
Ultrasonic Detector, Vibration Sensor and their
future market potential. Of all the major
components, the vibration sensor is expected to
have higher adoption rates for the mass market.
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chine-health-monitoring-market-29627363.html
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The segmentation by product includes corrosion
monitoring equipment, lubricating oil analysis
equipment, motor current signature analysis,
thermography equipment, ultrasound emission
equipment, and vibration monitoring equipment.
The segmentation by application includes
industries such as aerospace and defense,
automotive, chemicals, marine, mining, oil and
gas, and power. The geographic analysis covers
North America, Europe, APAC, and ROW. The major
drivers for the machine health monitoring market
are the improvement in equipment reliability by
effective projection of their failures, achieving
reduction in frequency and severity of equipment
downtimes, maximizing component life by proper
scheduling of maintenance programs, maximizing
equipment performance and throughput, ensuring
the safety of equipment and personnel, and many
more. There are restraints in the market such as
achieving return on investment from machine
health monitoring, unpredictable maintenance
periods, and requirement of asset modifications
to retrofit existing systems with machine health
monitoring sensors that may inhibit the market
growth. The increasing demand from emerging
economies is one of the key opportunities for the
process analyzer market.
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chine-health-monitoring-market-29627363.html
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The major companies involved in machine health
monitoring are AZIMA DLI Corp. (U.S.), Bruel
Kjaer Vibro GmbH (Denmark), Emerson Process
Management (U.S.), Fluke Corp. (U.S.), GE (U.S.),
Honeywell Process Solution (U.S.), National
Instruments (U.S.), Parker Kittiwake (U.K.),
Rockwell Automation Inc. (U.S.), SKF (Sweden),
and more. About MarketsandMarkets MarketsandMar
kets is a global market research and consulting
company based in the U.S. We publish
strategically analyzed market research reports
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covers thirteen industry verticals, including
advanced materials, automotives and
transportation, banking and financial services,
biotechnology, chemicals, consumer goods, energy
and power, food and beverages, industrial
automation, medical devices, pharmaceuticals,
semiconductor and electronics, and
telecommunications and IT.
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