Machine Condition Monitoring Market Trends

ID: MRFR/SEM/2059-CR

108 Pages

Aarti Dhapte

December 2021

Machine Condition Monitoring Market Research Report: By End Use (Oil & Gas Industry, Chemical & Petrochemical Industry, Pulp & Paper Industry, Steel & Metal Industry), By Monitoring Type (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring), By Monitoring Process Type (Online, Portable), and By Regional (North America, Europe, South America, Asia Pacific, Midd...

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Market Trends

Introduction

By the time 2024 arrives, the Machine Condition Monitoring market is undergoing a major transformation driven by a number of macro-economic factors. The rapid technological advances, particularly in IoT and artificial intelligence, are enabling the real-time monitoring and data analysis of machines. The growing regulatory pressure to improve the operational safety and efficiency of industrial plants is driving the industries to adopt more sophisticated condition monitoring solutions. Furthermore, the shift in the consumers’ attitudes towards the sustainable development and the operational transparency is influencing the companies to invest in condition monitoring. The trends are strategically important for the Machine Condition Monitoring market players, as they not only improve the operational efficiency, but also mitigate the risks associated with machine failures. The end result is a stronger competitiveness in the increasingly complex market environment.

Top Trends

Integration of IoT Technologies
In the field of machinery condition monitoring, the IoT is revolutionizing data collection and analysis. The IoT is being used to enhance the capability of predicting when equipment will fail. GE Digital has used the IoT to reduce downtime by a staggering 20 percent. This trend will improve the efficiency of operations and reduce maintenance costs. Real-time monitoring will become the norm, leading to smarter manufacturing.
AI and Machine Learning Adoption
Artificial intelligence and machine learning are being increasingly used to analyse the vast amounts of data collected from condition monitoring. For example, Rockwell has introduced artificial intelligence to improve the accuracy of its fault detection by a third. This trend is improving the reliability of predictive maintenance, enabling companies to anticipate breakdowns. And the next stage may be towards more self-learning systems, which require less human intervention.
Cloud-Based Solutions
The use of cloud-based data analysis is becoming indispensable. As a result, cloud-based platforms such as those offered by companies such as Siemens are enabling remote access to machine data, thus facilitating both collaboration and decision-making. It is expected that this new approach will increase the security of the data and its scalability, thus enabling companies to respond quickly to changing operational requirements. The trend towards cloud-based data analysis is therefore set to continue, enabling real-time data to be gathered and analysed in future.
Increased Focus on Sustainability
Machine condition monitoring is becoming a key driver of energy and resource conservation, with companies striving to reduce their energy consumption and waste. SKF has developed a range of solutions that can optimize machine performance and minimize the environment’s impact. This is not only a response to regulatory requirements, but also a trend driven by consumers’ desire to be more sustainable. Future developments may well include more sustainable monitoring technology.
Enhanced User Interfaces and Visualization Tools
The new tools of data representation are constantly evolving and are increasingly becoming more intuitive. Firms like Honeywell International are investing in advanced dashboards that make it easier for operators to understand the data. This trend is fostering greater engagement and better decision-making, which in turn leads to faster maintenance response times. There are also a number of developments in the field of augmented reality that could be used for real-time monitoring.
Regulatory Compliance and Standards
Regulations increasingly influence the practice of condition monitoring. Governments are imposing stricter regulations on the safety and performance of machines, which lead to the need for monitoring solutions. In particular, the introduction of ISO standards for predictive maintenance is a driving force for the market. The trend is to maintain the efficiency of the plant and avoid penalties.
Growth of Predictive Maintenance Services
Predictive maintenance is gaining in importance, as companies seek to minimize unplanned downtime. National Instruments has seen a 25% increase in the number of requests for its solutions in this field. The new trend is affecting service agreements. More and more companies are choosing a subscription-based model. This may lead to the development of more sophisticated tools for predicting failures.
Collaboration with Technology Startups
The companies that have already established themselves in this field are increasingly collaborating with technology start-ups. For example, Parker Hannifin has teamed up with start-ups to develop cutting-edge sensors. This trend accelerates the development of new solutions and increases the competitive advantage. These future collaborations could lead to a breakthrough in terms of monitoring and data analysis.
Remote Monitoring Capabilities
The possibility of remote control is becoming essential, especially after the COVID-19 epidemic. Companies like Fluke have developed solutions that allow for the remote monitoring of equipment. This trend increases the safety of operations and the flexibility of the organization, enabling it to continue to operate in the event of a disruption. And in the future, the trend may lead to more powerful remote diagnostic tools.
Integration of Augmented Reality (AR)
Combined with the augmented reality (AR) of the augmented reality (AR) of the augmented reality (AR) of the augmented reality (AR) of the augmented reality (AR) of the augmented reality (AR) of the augmented reality (AR)) of the augmented reality (AR) in the machine state monitoring, the maintenance processes are improved. Emerson Electric is already exploring applications that will provide technicians with real-time data overlays during inspections. This trend increases the accuracy of the work and reduces the time needed to train new employees. In the future, it is likely that the augmented reality (AR) will become a standard tool for maintenance.

Conclusion: Navigating the Machine Monitoring Landscape

In 2024, the Machine Condition Monitoring market is characterized by a highly competitive environment and significant fragmentation, with both established and new companies fighting for market share. In terms of geographical trends, the emphasis is on advanced technology, particularly in North America and Europe, where demand for AI-based solutions and automation is growing rapidly. Strategically, companies need to exploit their flexibility and flexibility in order to meet evolving customer expectations. As a result, established companies are enhancing their offerings through mergers and acquisitions, while new companies are focusing on agile solutions that are based on real-time data analysis. In the long run, the ability to integrate AI, automate processes and provide sustainable practices will be the decisive factor in determining market leadership and long-term success in this rapidly changing environment.

Market Highlights

Author

Aarti Dhapte

Team Lead - Research

She holds an experience of about 6+ years in Market Research and Business Consulting, working under the spectrum of Information Communication Technology, Telecommunications and Semiconductor domains. Aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. Her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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FAQs

What is the projected market valuation for the Machine Condition Monitoring Market in 2035?

The projected market valuation for the Machine Condition Monitoring Market in 2035 is 5.673 USD Billion.

What was the overall market valuation for the Machine Condition Monitoring Market in 2024?

The overall market valuation for the Machine Condition Monitoring Market in 2024 was 2.878 USD Billion.

What is the expected CAGR for the Machine Condition Monitoring Market from 2025 to 2035?

The expected CAGR for the Machine Condition Monitoring Market during the forecast period 2025 - 2035 is 6.36%.

Which industries are the primary end users of Machine Condition Monitoring solutions?

The primary end users of Machine Condition Monitoring solutions include the Oil & Gas, Chemical & Petrochemical, Pulp & Paper, and Steel & Metal industries.

What are the key monitoring types in the Machine Condition Monitoring Market?

The key monitoring types in the Machine Condition Monitoring Market are Vibration Monitoring, Thermography, Oil Analysis, and Corrosion Monitoring.

How does the market valuation for Vibration Monitoring compare to that of Corrosion Monitoring?

In 2024, the market valuation for Vibration Monitoring was 0.863 USD Billion, while Corrosion Monitoring was valued at 0.865 USD Billion.

What is the market size for online monitoring processes in the Machine Condition Monitoring Market?

The market size for online monitoring processes in the Machine Condition Monitoring Market is projected to be 3.1 USD Billion by 2035.

Which companies are considered key players in the Machine Condition Monitoring Market?

Key players in the Machine Condition Monitoring Market include Emerson Electric Co., Siemens AG, Honeywell International Inc., and General Electric Company.

What was the market valuation for the Chemical & Petrochemical industry segment in 2024?

The market valuation for the Chemical & Petrochemical industry segment in 2024 was 0.575 USD Billion.

What is the projected growth for the Portable monitoring process type by 2035?

The projected growth for the Portable monitoring process type in the Machine Condition Monitoring Market is expected to reach 2.573 USD Billion by 2035.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per MRFR analysis, the Machine Condition Monitoring Market was estimated at 2.878 USD Billion in 2024. The Machine Condition Monitoring industry is projected to grow from 3.061 USD Billion in 2025 to 5.673 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 6.36 during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The Machine Condition Monitoring Market is poised for substantial growth driven by technological advancements and increasing demand for predictive maintenance.

The integration of IoT technologies is transforming machine condition monitoring practices across various industries. North America remains the largest market, while the Asia-Pacific region is recognized as the fastest-growing area for machine condition monitoring solutions. The oil and gas industry continues to dominate the market, whereas the chemical and petrochemical sector is experiencing rapid growth. Rising demand for automation and a growing emphasis on safety and compliance are key drivers propelling market expansion.

Machine Condition Monitoring Market

CAGR

6.36%

Market Size & Forecast

2024 Market Size	2.878 (USD Billion)
2035 Market Size	5.673 (USD Billion)
CAGR (2025 - 2035)	6.36%
Largest Regional Market Share in 2024	North America

Major Players

Emerson Electric Co. (US), Siemens AG (DE), Honeywell International Inc. (US), General Electric Company (US), Rockwell Automation, Inc. (US), SKF AB (SE), National Instruments Corporation (US), Fluke Corporation (US), Baker Hughes Company (US), ABB Ltd. (CH)

Market Trends

The Machine Condition Monitoring Market is currently experiencing a notable evolution, driven by advancements in technology and increasing awareness of predictive maintenance. Organizations are increasingly recognizing the value of monitoring equipment health to prevent unexpected failures and optimize operational efficiency. This trend is further fueled by the integration of Internet of Things (IoT) devices, which facilitate real-time data collection and analysis. As industries strive for greater productivity, the demand for sophisticated monitoring solutions appears to be on the rise, suggesting a shift towards more proactive maintenance strategies. Moreover, the growing emphasis on sustainability and energy efficiency is influencing the Machine Condition Monitoring Market. Companies are seeking ways to reduce waste and enhance resource utilization, which aligns with the capabilities of condition monitoring systems. These systems not only help in identifying potential issues before they escalate but also contribute to minimizing energy consumption and extending the lifespan of machinery. As a result, the market is likely to witness a surge in innovative solutions that cater to these evolving needs, indicating a promising future for stakeholders in this sector.

Integration of IoT Technologies

The incorporation of Internet of Things technologies is transforming the Machine Condition Monitoring Market. By enabling real-time data transmission and analysis, IoT devices enhance the ability to monitor equipment health effectively. This integration allows for timely interventions, reducing downtime and maintenance costs.

Focus on Predictive Maintenance

There is a growing trend towards predictive maintenance within the Machine Condition Monitoring Market. Organizations are increasingly adopting strategies that leverage data analytics to forecast equipment failures. This proactive approach not only minimizes operational disruptions but also optimizes resource allocation.

Sustainability and Energy Efficiency

Sustainability concerns are shaping the Machine Condition Monitoring Market. Companies are prioritizing solutions that promote energy efficiency and reduce environmental impact. Condition monitoring systems play a crucial role in achieving these goals by extending machinery lifespan and minimizing waste.

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The increasing integration of IoT technologies in industrial applications is reshaping the landscape of machine condition monitoring, enhancing predictive maintenance capabilities and operational efficiency..webp

U.S. Department of Energy

Machine Condition Monitoring Market Market Drivers

Rising Demand for Automation

The Machine Condition Monitoring Market is experiencing a notable surge in demand for automation across various sectors. Industries are increasingly adopting automated systems to enhance operational efficiency and reduce human error. This trend is particularly evident in manufacturing, where the integration of machine condition monitoring technologies allows for real-time data collection and analysis. According to recent estimates, the automation market is projected to grow at a compound annual growth rate of approximately 9 percent over the next five years. This growth is likely to drive the adoption of machine condition monitoring solutions, as companies seek to optimize their processes and minimize downtime. As a result, the Machine Condition Monitoring Market is poised to benefit significantly from this shift towards automation.

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Growing Emphasis on Safety and Compliance

The Machine Condition Monitoring Market is increasingly shaped by the growing emphasis on safety and regulatory compliance. Industries are under pressure to adhere to stringent safety standards and regulations, which necessitate the implementation of effective monitoring systems. Machine condition monitoring plays a crucial role in ensuring that equipment operates within safe parameters, thereby minimizing the risk of accidents and injuries. Recent studies suggest that companies that prioritize safety through condition monitoring can reduce workplace incidents by up to 40 percent. This heightened focus on safety is likely to drive the adoption of machine condition monitoring solutions, as organizations seek to mitigate risks and comply with regulatory requirements. As a result, the Machine Condition Monitoring Market is expected to see sustained growth in response to these safety and compliance demands.

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Increasing Focus on Predictive Maintenance

The Machine Condition Monitoring Market is witnessing a paradigm shift towards predictive maintenance strategies. Organizations are increasingly recognizing the value of monitoring equipment conditions to predict failures before they occur. This proactive approach not only reduces maintenance costs but also enhances equipment lifespan. Recent data indicates that predictive maintenance can lead to a reduction in maintenance costs by up to 30 percent. As industries strive for operational excellence, the demand for machine condition monitoring solutions that facilitate predictive maintenance is expected to rise. This trend is particularly pronounced in sectors such as manufacturing and energy, where unplanned downtime can result in substantial financial losses. Consequently, the Machine Condition Monitoring Market is likely to expand as businesses invest in technologies that support predictive maintenance initiatives.

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Expansion of Industrial Internet of Things (IIoT)

The Machine Condition Monitoring Market is being propelled by the expansion of the Industrial Internet of Things (IIoT). The integration of IIoT technologies into manufacturing processes allows for enhanced connectivity and data exchange between machines and systems. This interconnectedness facilitates more effective monitoring and analysis of machine conditions, leading to improved operational efficiency. The IIoT market is anticipated to grow at a compound annual growth rate of around 10 percent, which will likely have a positive impact on the Machine Condition Monitoring Market. As industries increasingly adopt IIoT solutions, the demand for machine condition monitoring technologies that leverage this connectivity is expected to rise. This trend underscores the importance of real-time data in optimizing maintenance strategies and enhancing overall productivity.

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Technological Advancements in Sensor Technologies

The Machine Condition Monitoring Market is significantly influenced by advancements in sensor technologies. The development of more sophisticated sensors enables the collection of precise data regarding machine performance and health. Innovations such as wireless sensors and IoT-enabled devices are transforming the landscape of machine condition monitoring. These technologies facilitate real-time monitoring and data transmission, allowing for timely interventions. The market for sensors is projected to grow at a rate of approximately 8 percent annually, which will likely bolster the Machine Condition Monitoring Market. As industries adopt these advanced sensor technologies, the ability to monitor equipment conditions in real-time will enhance decision-making processes and improve overall operational efficiency.

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Market Segment Insights

By End Use: Oil & Gas Industry (Largest) vs. Chemical & Petrochemical Industry (Fastest-Growing)

The Machine Condition Monitoring Market is prominently dominated by the Oil & Gas Industry, which holds the largest market share due to its stringent need for equipment reliability and operational efficiency. Acknowledging its critical role in energy production, the<a href="https://www.marketresearchfuture.com/reports/oil-gas-scada-market-7925"> Oil & Gas</a> sector leverages condition monitoring tools to minimize downtime and maintenance costs, ensuring safety and compliance with regulatory standards. Meanwhile, the Chemical & Petrochemical Industry is emerging rapidly, driven by advancements in automation and the pressing need for efficiency. This segment is focusing on predictive maintenance strategies to enhance productivity and reduce unplanned outages, reflecting its potential to capture significant market attention in the coming years..webp

Oil & Gas Industry (Dominant) vs. Chemical & Petrochemical Industry (Emerging).webp

The Oil & Gas Industry presents a robust and established demand for Machine Condition Monitoring solutions, characterized by a thorough process of monitoring machinery health to ensure operational integrity. This sector's emphasis on minimizing risks and prolonging equipment lifespan has cemented its position as a dominant player in the market. In contrast, the Chemical & Petrochemical Industry, while currently an emerging force, is seeing rapid growth due to its increasing adoption of smart technologies. This segment focuses on leveraging IoT and analytics to enhance predictive capabilities, thus driving maintenance efficiency and facilitating smoother operations across complex chemical processing environments..webp

By Monitoring Type: Vibration Monitoring (Largest) vs. Thermography (Fastest-Growing)

The Machine Condition Monitoring Market exhibits a noteworthy segmentation in its monitoring types. Vibration Monitoring holds the dominant market share as it is widely used across various industries, which rely on detecting mechanical faults early. In contrast, Thermography is emerging rapidly due to its growing adoption in predictive maintenance practices, where temperature patterns indicate the health of machines. Oil Analysis and Corrosion Monitoring complement these primary types, yet they trail behind in overall market share, catering to more specialized applications. Growth trends in the Machine Condition Monitoring Market highlight a significant acceleration in the adoption of Thermography, driven by technological advancements and increased awareness among companies about preventive maintenance. The trend towards Industry 4.0 and smart manufacturing further fuels the demand for real-time monitoring solutions. Meanwhile, Vibration Monitoring remains essential, driven by its effectiveness in ensuring operational efficiency and minimizing downtimes across manufacturing hubs..webp

Vibration Monitoring (Dominant) vs. Oil Analysis (Emerging).webp

Vibration Monitoring is the leading technology in the Machine Condition Monitoring Market, characterized by its widespread application in detecting imbalances, misalignments, and other mechanical issues. This technology's reliability and cost-effectiveness make it a preferred choice among industries aiming for optimal performance and reduced downtime. In contrast, Oil Analysis is an emerging monitoring technique that evaluates the quality and condition of lubricants, offering insights into machine health and potential failures. As industries increasingly adopt predictive maintenance strategies, Oil Analysis grows in significance, especially in sectors where lubrication is critical for both performance and longevity. It is especially valued in heavy machinery operations, where understanding lubricant degradation can prevent catastrophic failures..webp

By Monitoring Process Type: Online (Largest) vs. Portable (Fastest-Growing)

The Machine Condition Monitoring market is experiencing significant segmentation, with the Online monitoring process type dominating the landscape. Online monitoring systems have gained a significant market share due to their capacity for real-time data analysis and immediate alert capabilities, which ensure continuous oversight of machine conditions. Conversely, Portable monitoring solutions are catching up, attracting attention for their flexibility and user-friendly nature, allowing operators to conduct assessments across various locations without permanent installations..webp

Monitoring Process Type: Online (Dominant) vs. Portable (Emerging).webp

In the Machine Condition Monitoring market, Online monitoring is viewed as the dominant segment. It offers unparalleled benefits such as constant monitoring and predictive maintenance capabilities, critical for minimizing downtime and enhancing operational efficiency. Industries favor Online solutions for their ability to integrate with existing systems for seamless operation. On the other hand, Portable monitoring solutions are emerging fast due to their adaptability, allowing businesses to monitor equipment wherever needed. This mobility caters well to diverse environments and is ideal for companies that need rapid assessments or have multiple locations. Both segments are essential, but Online monitoring holds a sturdier position in current market dynamics..webp

Get more detailed insights about Machine Condition Monitoring Market Research Report—Global Forecast till 2035

Regional Insights

North America : Innovation and Technology Leader

North America is the largest market for machine condition monitoring, holding approximately 40% of the global share. The region's growth is driven by advancements in IoT technology, increasing automation in manufacturing, and stringent regulations promoting safety and efficiency. The demand for predictive maintenance solutions is rising, fueled by the need to reduce downtime and operational costs. The United States leads the market, with significant contributions from Canada. Key players such as Emerson Electric Co., Honeywell International Inc., and General Electric Company are actively innovating and expanding their product offerings. The competitive landscape is characterized by a focus on integrating AI and machine learning into monitoring solutions, enhancing predictive capabilities and operational efficiency.

Europe : Regulatory-Driven Market Growth

Europe is the second-largest market for machine condition monitoring, accounting for around 30% of the global share. The region's growth is propelled by stringent regulations aimed at enhancing industrial safety and sustainability. The European Union's initiatives to promote energy efficiency and reduce emissions are significant catalysts for adopting advanced monitoring technologies in various sectors. Germany and the United Kingdom are the leading countries in this market, with a strong presence of key players like Siemens AG and SKF AB. The competitive landscape is marked by a focus on innovation and sustainability, with companies investing in smart technologies and data analytics to improve machine performance and reliability. The emphasis on compliance with environmental regulations further drives the demand for condition monitoring solutions.

Asia-Pacific : Emerging Market Potential

Asia-Pacific is witnessing rapid growth in the machine condition monitoring market, holding approximately 25% of the global share. The region's expansion is driven by increasing industrialization, a growing manufacturing sector, and rising investments in smart factory initiatives. Countries like China and India are leading this growth, supported by government initiatives to enhance industrial efficiency and productivity. China is the largest market in the region, followed by India and Japan. The competitive landscape features both global players and local companies, with significant investments from firms like Rockwell Automation, Inc. and National Instruments Corporation. The focus on integrating IoT and AI technologies into monitoring solutions is reshaping the market, enabling predictive maintenance and reducing operational costs.

Middle East and Africa : Resource-Rich Market Dynamics

The Middle East and Africa region is gradually emerging in the machine condition monitoring market, holding about 5% of the global share. The growth is driven by increasing investments in infrastructure and industrial projects, particularly in oil and gas, mining, and manufacturing sectors. The demand for condition monitoring solutions is rising as companies seek to enhance operational efficiency and reduce maintenance costs. Countries like South Africa and the UAE are at the forefront of this market, with a growing number of local and international players entering the landscape. The presence of key companies such as ABB Ltd. and Baker Hughes Company is notable, as they focus on providing advanced monitoring solutions tailored to the region's unique challenges. The competitive environment is evolving, with an emphasis on adopting new technologies to improve asset management and reliability.

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Key Players and Competitive Insights

The Machine Condition Monitoring Market is currently characterized by a dynamic competitive landscape, driven by technological advancements and an increasing emphasis on predictive maintenance. Key players such as Emerson Electric Co. (US), Siemens AG (DE), and Honeywell International Inc. (US) are strategically positioning themselves through innovation and digital transformation initiatives. These companies are not only enhancing their product offerings but are also focusing on integrating advanced analytics and IoT capabilities into their solutions, thereby shaping a competitive environment that prioritizes efficiency and reliability in industrial operations.

In terms of business tactics, companies are increasingly localizing manufacturing and optimizing supply chains to enhance responsiveness to market demands. The market structure appears moderately fragmented, with several players vying for market share. However, the collective influence of major companies like General Electric Company (US) and Rockwell Automation, Inc. (US) is significant, as they leverage their extensive resources and technological expertise to maintain competitive advantages.

In August 2025, Emerson Electric Co. (US) announced a strategic partnership with a leading AI firm to enhance its predictive maintenance solutions. This collaboration aims to integrate machine learning algorithms into Emerson's existing monitoring systems, potentially revolutionizing how industries approach equipment maintenance. The strategic importance of this partnership lies in its potential to significantly reduce downtime and maintenance costs for clients, thereby reinforcing Emerson's position as a leader in the market.

Similarly, in September 2025, Siemens AG (DE) launched a new suite of condition monitoring tools that utilize edge computing technology. This initiative is designed to provide real-time data analytics directly at the machine level, which could lead to faster decision-making processes for manufacturers. The introduction of these tools indicates Siemens' commitment to advancing digital transformation in the industrial sector, positioning the company favorably against competitors.

In October 2025, Honeywell International Inc. (US) unveiled a new cloud-based platform for machine condition monitoring that incorporates advanced AI capabilities. This platform is expected to enhance predictive analytics and provide deeper insights into machine performance. The strategic significance of this launch is profound, as it not only showcases Honeywell's innovation but also reflects the growing trend towards cloud solutions in the industry, which may redefine how companies manage their assets.

As of October 2025, the competitive trends in the Machine Condition Monitoring Market are increasingly defined by digitalization, sustainability, and the integration of artificial intelligence. Strategic alliances are becoming more prevalent, as companies recognize the need to collaborate to enhance their technological capabilities. Looking ahead, it appears that competitive differentiation will increasingly hinge on innovation and technological advancements rather than solely on price. The focus on supply chain reliability and the ability to deliver cutting-edge solutions will likely dictate the future landscape of this market.

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Key Companies in the Machine Condition Monitoring Market market include

Industry Developments

Q2 2024: Rockwell Automation Launches New Condition Monitoring Solution for Predictive Maintenance Rockwell Automation announced the launch of its new condition monitoring solution designed to enhance predictive maintenance capabilities for industrial machinery. The product integrates advanced sensors and analytics to provide real-time insights into equipment health.
Q2 2024: Emerson Expands Machine Health Monitoring Portfolio with New Wireless Vibration Sensor Emerson introduced a new wireless vibration sensor to its machine health monitoring portfolio, aiming to improve asset reliability and reduce unplanned downtime in manufacturing environments.
Q2 2024: SKF Launches Next-Generation Machine Condition Monitoring System SKF announced the launch of its next-generation machine condition monitoring system, featuring enhanced connectivity and data analytics for industrial applications.
Q2 2024: Honeywell Introduces Advanced Condition Monitoring Platform for Industrial Equipment Honeywell launched a new condition monitoring platform that leverages AI and IoT technologies to provide predictive maintenance and real-time diagnostics for industrial machinery.
Q2 2024: Siemens Unveils New Cloud-Based Machine Condition Monitoring Service Siemens announced the release of a cloud-based machine condition monitoring service, enabling remote diagnostics and predictive maintenance for manufacturing clients.
Q3 2024: Baker Hughes Launches Condition Monitoring-as-a-Service for Oil & Gas Sector Baker Hughes introduced a new subscription-based condition monitoring service tailored for the oil and gas industry, providing continuous equipment health insights and maintenance recommendations.
Q3 2024: ABB Expands Condition Monitoring Capabilities with Acquisition of Real-Time Analytics Startup ABB announced the acquisition of a real-time analytics startup to strengthen its machine condition monitoring offerings, enhancing predictive maintenance solutions for industrial customers.
Q3 2024: GE Digital Partners with AWS to Deliver Scalable Machine Condition Monitoring Solutions GE Digital announced a partnership with Amazon Web Services (AWS) to deliver scalable, cloud-based machine condition monitoring solutions for industrial clients.
Q4 2024: Fluke Launches Wireless Condition Monitoring Sensors for Industrial Applications Fluke Corporation introduced a new line of wireless condition monitoring sensors designed to provide continuous data on equipment health in industrial settings.
Q4 2024: Schneider Electric Debuts AI-Driven Condition Monitoring Platform for Smart Factories Schneider Electric launched an AI-driven condition monitoring platform aimed at improving operational efficiency and reducing downtime in smart factory environments.
Q1 2025: NI Announces New Machine Condition Monitoring System for Predictive Maintenance National Instruments (NI) unveiled a new machine condition monitoring system designed to support predictive maintenance strategies in manufacturing and process industries.
Q1 2025: Honeywell Acquires Predictive Maintenance Software Firm to Bolster Condition Monitoring Portfolio Honeywell announced the acquisition of a predictive maintenance software company, expanding its condition monitoring solutions for industrial customers.

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Future Outlook

Machine Condition Monitoring Market Future Outlook

The Machine Condition Monitoring Market is projected to grow at a 6.36% CAGR from 2024 to 2035, driven by technological advancements, increased automation, and the demand for predictive maintenance solutions..webp

New opportunities lie in:

Integration of AI-driven analytics for predictive maintenance solutions..webpDevelopment of portable monitoring devices for remote applications..webpExpansion into emerging markets with tailored service packages..webp

By 2035, the market is expected to be robust, driven by innovation and strategic expansions..webp

Market Segmentation

Machine Condition Monitoring Market End Use Outlook

Oil & Gas Industry
Chemical & Petrochemical Industry
Pulp & Paper Industry
Steel & Metal Industry

Machine Condition Monitoring Market Monitoring Type Outlook

Vibration Monitoring
Thermography
Oil Analysis
Corrosion Monitoring

Machine Condition Monitoring Market Monitoring Process Type Outlook

Online
Portable

Report Scope

MARKET SIZE 2024	2.878(USD Billion)
MARKET SIZE 2025	3.061(USD Billion)
MARKET SIZE 2035	5.673(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	6.36% (2024 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Market analysis in progress
Segments Covered	Market segmentation analysis in progress
Key Market Opportunities	Integration of artificial intelligence enhances predictive maintenance in the Machine Condition Monitoring Market.
Key Market Dynamics	Rising demand for predictive maintenance drives technological advancements in the Machine Condition Monitoring Market.
Countries Covered	North America, Europe, APAC, South America, MEA

Market Highlights

Author

Aarti Dhapte

Team Lead - Research

She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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