1	INTRODUCTION	37 
1.1	STUDY OBJECTIVES	37 
1.2	MARKET DEFINITION	37 
1.3	INCLUSIONS AND EXCLUSIONS	38 
1.4	MARKETS COVERED	40 
FIGURE 1	MACHINE CONDITION MONITORING MARKET SEGMENTATION	40 
1.4.1	REGIONAL SCOPE	41 
FIGURE 2	MACHINE CONDITION MONITORING MARKET: REGIONAL SCOPE	41 
1.4.2	YEARS CONSIDERED	41 
1.5	CURRENCY CONSIDERED	41 
1.6	STAKEHOLDERS	42 
1.7	SUMMARY OF CHANGES	42 
1.8	RECESSION IMPACT	42 
2	RESEARCH METHODOLOGY	43 
2.1	RESEARCH DATA	43 
FIGURE 3	MACHINE CONDITION MONITORING MARKET: RESEARCH DESIGN	43 
2.1.1	SECONDARY AND PRIMARY RESEARCH	44 
FIGURE 4	MACHINE CONDITION MONITORING MARKET: RESEARCH APPROACH	45 
2.1.2	SECONDARY DATA	45 
2.1.2.1	List of major secondary sources	45 
2.1.2.2	Key data from secondary sources	46 
2.1.3	PRIMARY DATA	46 
2.1.3.1	List of participants in primary interviews	47 
2.1.3.2	Key data from primary sources	47 
2.1.3.3	Key industry insights	48 
2.1.3.4	Breakdown of primaries	48 
2.2	MARKET SIZE ESTIMATION	49 
2.2.1	TOP-DOWN APPROACH	49 
2.2.1.1	Estimation of market size using top-down approach	49 
FIGURE 5	MACHINE CONDITION MONITORING MARKET: TOP-DOWN APPROACH	50 
2.2.2	BOTTOM-UP APPROACH	50 
2.2.2.1	Estimation of market size using bottom-up approach	50 
FIGURE 6	MACHINE CONDITION MONITORING MARKET: BOTTOM-UP APPROACH	51 
FIGURE 7	MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS	51 
2.3	DATA TRIANGULATION	52 
FIGURE 8	DATA TRIANGULATION	52 
2.4	RESEARCH ASSUMPTIONS	53 
FIGURE 9	RESEARCH ASSUMPTIONS	53 
2.5	RESEARCH LIMITATIONS	53 
2.6	PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON MACHINE CONDITION MONITORING MARKET	54 
2.7	RISK ASSESSMENT	54 
TABLE 1	RISK ANALYSIS	54 
3	EXECUTIVE SUMMARY	55 
FIGURE 10	MACHINE CONDITION MONITORING MARKET, 2020–2029 (USD BILLION)	56 
FIGURE 11	ONLINE MACHINE CONDITION MONITORING SYSTEMS TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD	56 
FIGURE 12	VIBRATION MONITORING TECHNIQUE TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024	57 
FIGURE 13	POWER GENERATION INDUSTRY TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024	58 
FIGURE 14	NORTH AMERICA DOMINATED GLOBAL MACHINE CONDITION MONITORING MARKET IN 2023	59 
4	PREMIUM INSIGHTS	60 
4.1	ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MACHINE CONDITION MONITORING MARKET	60 
FIGURE 15	GROWING DEMAND FROM AUTOMOTIVE AND AEROSPACE INDUSTRIES TO DRIVE MARKET	60 
4.2	MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE	61 
FIGURE 16	VIBRATION MONITORING TECHNIQUE TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029	61 
4.3	MACHINE CONDITION MONITORING MARKET, BY INDUSTRY	61 
FIGURE 17	POWER GENERATION INDUSTRY TO CAPTURE LARGEST MARKET SHARE IN 2029	61 
4.4	MACHINE CONDITION MONITORING MARKET IN NORTH AMERICA, BY INDUSTRY AND COUNTRY	62 
FIGURE 18	POWER GENERATION INDUSTRY AND US TO HOLD LARGEST SHARE OF NORTH AMERICAN MACHINE CONDITION MONITORING MARKET IN 2029	62 
4.5	MACHINE CONDITION MONITORING MARKET, BY COUNTRY	63 
FIGURE 19	INDIA TO EXHIBIT HIGHEST CAGR IN GLOBAL MACHINE CONDITION MONITORING MARKET DURING FORECAST PERIOD	63 
5	MARKET OVERVIEW	64 
5.1	INTRODUCTION	64 
5.2	MARKET DYNAMICS	64 
FIGURE 20	GLOBAL MACHINE CONDITION MONITORING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	64 
5.2.1	DRIVERS	65 
5.2.1.1	Increasing utilization of wireless sensor networks in industrial plants	65 
5.2.1.2	Elevating demand for predictive maintenance techniques to reduce unexpected breakdowns	65 
5.2.1.3	Rising number of smart factories worldwide	66 
5.2.1.4	Increasing awareness about benefits of machine condition monitoring technology adoption	66 
FIGURE 21	MACHINE CONDITION MONITORING MARKET: IMPACT ANALYSIS OF DRIVERS	67 
5.2.2	RESTRAINTS	67 
5.2.2.1	High cost of integrating machine condition monitoring systems with machine maintenance systems	67 
FIGURE 22	MACHINE CONDITION MONITORING MARKET: IMPACT ANALYSIS OF RESTRAINTS	67 
5.2.3	OPPORTUNITIES	68 
5.2.3.1	Integration of big data analytics and machine learning into machine condition monitoring	68 
5.2.3.2	Advent of secured cloud computing platform	68 
5.2.3.3	Integration of IIoT systems with existing manufacturing systems	69 
FIGURE 23	MACHINE CONDITION MONITORING MARKET: IMPACT ANALYSIS OF OPPORTUNITIES	69 
5.2.4	CHALLENGES	69 
5.2.4.1	Unavailability of technical expertise at remote locations	69 
5.2.4.2	Additional costs associated with retrofitting existing systems	70 
FIGURE 24	MACHINE CONDITION MONITORING MARKET: IMPACT ANALYSIS OF CHALLENGES	70 
5.3	VALUE CHAIN ANALYSIS	71 
FIGURE 25	MACHINE CONDITION MONITORING VALUE CHAIN	71 
5.4	ECOSYSTEM ANALYSIS	72 
FIGURE 26	ECOSYSTEM MAPPING	72 
TABLE 2	KEY COMPANIES AND THEIR ROLE IN ECOSYSTEM	73 
5.5	PRICING ANALYSIS	74 
5.5.1	AVERAGE SELLING PRICE TREND OF MACHINE CONDITION MONITORING SYSTEM	74 
FIGURE 27	AVERAGE SELLING PRICE OF MACHINE CONDITION MONITORING SYSTEM, 2019–2023	74 
5.5.2	AVERAGE SELLING PRICE OF VIBRATION SENSORS PROVIDED BY KEY PLAYERS	75 
FIGURE 28	AVERAGE SELLING PRICE TREND OF VIBRATION SENSORS, BY KEY PLAYER	75 
TABLE 3	AVERAGE SELLING PRICE OF VIBRATION SENSORS OFFERED BY KEY PLAYERS	75 
TABLE 4	AVERAGE SELLING PRICES OF MACHINE CONDITION MONITORING HARDWARE EQUIPMENT	75 
5.5.3	AVERAGE SELLING PRICE TREND, BY REGION	76 
TABLE 5	AVERAGE SELLING PRICE OF MACHINE CONDITION MONITORING SYSTEM, BY REGION	76 
5.6	TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS	76 
FIGURE 29	TRENDS INFLUENCING CUSTOMER BUSINESS	76 
5.7	TECHNOLOGY ANALYSIS	77 
5.7.1	INTERNET OF THINGS (IOT)	77 
FIGURE 30	UTILIZATION OF IOT PLATFORMS BY CONDITION MONITORING SYSTEM USERS	77 
5.7.2	CLOUD COMPUTING TECHNOLOGY	78 
FIGURE 31	ADVANTAGES OF CLOUD-BASED MACHINE CONDITION MONITORING	78 
FIGURE 32	INDUSTRIAL DEVELOPMENT MODEL	79 
5.7.3	MULTI-PARAMETER CONDITION MONITORING	80 
5.7.4	CLOUD-BASED PREDICTIVE MAINTENANCE (MAINTENANCE–AS–A–SERVICE)	80 
FIGURE 33	DATA EXCHANGE IN CLOUD-BASED MAINTENANCE FRAMEWORK	81 
5.8	PORTER’S FIVE FORCES ANALYSIS	82 
TABLE 6	MACHINE CONDITION MONITORING MARKET: PORTER’S FIVE FORCES ANALYSIS	82 
FIGURE 34	MACHINE CONDITION MONITORING MARKET: PORTER’S FIVE FORCES ANALYSIS	82 
5.8.1	BARGAINING POWER OF SUPPLIERS	83 
5.8.2	BARGAINING POWER OF BUYERS	83 
5.8.3	THREAT OF NEW ENTRANTS	83 
5.8.4	THREAT OF SUBSTITUTES	83 
5.8.5	INTENSITY OF COMPETITIVE RIVALRY	84 
5.9	KEY STAKEHOLDERS AND BUYING CRITERIA	84 
5.9.1	KEY STAKEHOLDERS IN BUYING PROCESS	84 
FIGURE 35	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 INDUSTRIES	84 
TABLE 7	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY INDUSTRY	84 
5.9.2	BUYING CRITERIA	85 
FIGURE 36	KEY BUYING CRITERIA FOR TOP 3 INDUSTRIES	85 
TABLE 8	KEY BUYING CRITERIA FOR TOP 3 INDUSTRIES	85 
5.10	CASE STUDY ANALYSIS	86 
TABLE 9	STEEL ROLLING MILL DEPLOYED ONLINE CONDITION MONITORING SYSTEM TO PREVENT CATASTROPHIC BEARING FAILURE	86 
TABLE 10	EMERSON ELECTRIC INSTALLED VIBRATION TRANSMITTER IN BARKING POWER STATION TO REDUCE PLANT DOWNTIME	86 
TABLE 11	SIG EMPLOYED APM STRATEGY SOLUTION TO REDUCE UNPLANNED DOWNTIME	87 
5.11	TRADE ANALYSIS	87 
5.11.1	IMPORT SCENARIO	87 
FIGURE 37	IMPORT VALUE OF PARTS FOR MACHINE CHECKING AND MEASUREMENT, BY COUNTRY, 2018–2022 (USD MILLION)	87 
5.11.2	EXPORT SCENARIO	88 
FIGURE 38	EXPORTS VALUE OF PARTS FOR MACHINE CHECKING AND MEASUREMENT, BY COUNTRY, 2018–2022 (USD MILLION)	88 
5.12	PATENT ANALYSIS	88 
FIGURE 39	TOP 10 PATENT APPLICANTS IN LAST 10 YEARS	88 
TABLE 12	TOP 20 PATENT OWNERS IN US IN LAST 10 YEARS (2014–2023)	89 
FIGURE 40	NUMBER OF PATENTS GRANTED PER YEAR, 2014–2023	90 
TABLE 13	INNOVATIONS AND PATENT REGISTRATIONS PERTAINING TO MACHINE CONDITION MONITORING, 2022–2023	90 
5.13	KEY CONFERENCES AND EVENTS, 2024–2025	91 
TABLE 14	LIST OF CONFERENCES AND EVENTS	91 
5.14	TARIFFS, REGULATORY LANDSCAPE, AND STANDARDS	92 
5.14.1	TARIFFS FOR HS CODE 903190-COMPLIANT PARTS FOR MACHINE CHECKING AND MEASURING	92 
TABLE 15	AVERAGE TARIFF (ESTIMATED) APPLIED BY COUNTRY (%)	92 
5.14.2	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	93 
TABLE 16	NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	93 
TABLE 17	EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	93 
TABLE 18	ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	94 
TABLE 19	ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	94 
5.14.3	STANDARDS	95 
TABLE 20	MACHINE CONDITION MONITORING-RELATED STANDARDS	95 
6	APPLICATIONS OF MACHINE CONDITION MONITORING SYSTEMS	96 
6.1	INTRODUCTION	96 
FIGURE 41	PUMPS ACCOUNTED FOR LARGEST SHARE OF MACHINE CONDITION MONITORING MARKET, BY APPLICATION, IN 2023	96 
6.2	PUMPS	97 
6.3	CHILLERS	97 
6.4	MOTORS	97 
6.5	BEARINGS	98 
6.6	OTHER APPLICATIONS	98 
7	PROCUREMENT MODELS USED IN MACHINE CONDITION MONITORING EQUIPMENT MARKET	99 
7.1	INTRODUCTION	99 
FIGURE 42	ORIGINAL EQUIPMENT MANUFACTURERS CAPTURED MAJORITY OF MARKET SHARE IN 2023	99 
7.2	ORIGINAL EQUIPMENT MANUFACTURERS (OEMS)	99 
7.3	END USERS	99 
8	MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE	100 
8.1	INTRODUCTION	101 
FIGURE 43	MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE	101 
FIGURE 44	VIBRATION MONITORING TECHNIQUE TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029	102 
TABLE 21	MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	102 
TABLE 22	MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	103 
8.2	VIBRATION MONITORING	103 
8.2.1	INCLINATION TOWARD PREDICTIVE MAINTENANCE TO BOOST DEMAND FOR VIBRATION MONITORING TECHNIQUE	103 
TABLE 23	VIBRATION MONITORING: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2020–2023 (USD MILLION)	104 
TABLE 24	VIBRATION MONITORING: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2024–2029 (USD MILLION)	104 
TABLE 25	VIBRATION MONITORING: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	105 
TABLE 26	VIBRATION MONITORING: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	105 
TABLE 27	VIBRATION MONITORING: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	105 
TABLE 28	VIBRATION MONITORING: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	106 
8.3	THERMOGRAPHY	106 
8.3.1	RISING FOCUS ON COST SAVINGS AND ENERGY EFFICIENCY OPTIMIZATION TO ACCELERATE ADOPTION OF THERMOGRAPHY	106 
TABLE 29	THERMOGRAPHY: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2020–2023 (USD MILLION)	107 
TABLE 30	THERMOGRAPHY: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2024–2029 (USD MILLION)	107 
TABLE 31	THERMOGRAPHY: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	108 
TABLE 32	THERMOGRAPHY: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	108 
TABLE 33	THERMOGRAPHY: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	108 
TABLE 34	THERMOGRAPHY: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	109 
8.4	OIL ANALYSIS	109 
8.4.1	PRESENCE OF WEAR PARTICLES AND OTHER CONTAMINANTS IN OIL TO INCREASE DEMAND FOR OIL ANALYSIS TECHNIQUE	109 
FIGURE 45	ADVANTAGES OF OIL ANALYSIS TECHNIQUE	110 
TABLE 35	OIL ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2020–2023 (USD MILLION)	110 
TABLE 36	OIL ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2024–2029 (USD MILLION)	111 
TABLE 37	OIL ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	111 
TABLE 38	OIL ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	111 
TABLE 39	OIL ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	112 
TABLE 40	OIL ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	112 
8.5	CORROSION MONITORING	113 
8.5.1	EMPHASIS ON MAXIMIZING PLANT EFFICIENCY AND SAFETY TO PROMOTE USE OF CORROSION MONITORING TECHNIQUE	113 
TABLE 41	CORROSION MONITORING: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2020–2023 (USD MILLION)	113 
TABLE 42	CORROSION MONITORING: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2024–2029 (USD MILLION)	114 
TABLE 43	CORROSION MONITORING: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	114 
TABLE 44	CORROSION MONITORING: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	114 
TABLE 45	CORROSION MONITORING: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	115 
TABLE 46	CORROSION MONITORING: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	115 
8.6	ULTRASOUND EMISSION	116 
8.6.1	NEED TO DETECT DEFECTS IN ELECTRIC EQUIPMENT TO STIMULATE DEMAND FOR ULTRASOUND EMISSION TECHNIQUE	116 
TABLE 47	ULTRASOUND EMISSION: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2020–2023 (USD MILLION)	116 
TABLE 48	ULTRASOUND EMISSION: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2024–2029 (USD MILLION)	117 
TABLE 49	ULTRASOUND EMISSION: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	117 
TABLE 50	ULTRASOUND EMISSION: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	117 
TABLE 51	ULTRASOUND EMISSION: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	118 
TABLE 52	ULTRASOUND EMISSION: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	118 
8.7	MOTOR CURRENT ANALYSIS	119 
8.7.1	RISING UTILIZATION OF MOTOR CURRENT ANALYSIS FOR EARLY DETECTION OF FAULTS IN MACHINERY TO DRIVE MARKET	119 
TABLE 53	MOTOR CURRENT ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2020–2023 (USD MILLION)	120 
TABLE 54	MOTOR CURRENT ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2024–2029 (USD MILLION)	120 
TABLE 55	MOTOR CURRENT ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	120 
TABLE 56	MOTOR CURRENT ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	121 
TABLE 57	MOTOR CURRENT ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	121 
TABLE 58	MOTOR CURRENT ANALYSIS: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	122 
9	MACHINE CONDITION MONITORING MARKET, BY OFFERING	123 
9.1	INTRODUCTION	124 
FIGURE 46	MACHINE CONDITION MONITORING MARKET, BY OFFERING	124 
FIGURE 47	HARDWARE SEGMENT TO HOLD LARGER MARKET SIZE IN 2029	125 
TABLE 59	MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2020–2023 (USD MILLION)	125 
TABLE 60	MACHINE CONDITION MONITORING MARKET, BY OFFERING, 2024–2029 (USD MILLION)	125 
TABLE 61	MACHINE CONDITION MONITORING MARKET, 2020–2023 (THOUSAND UNITS)	126 
TABLE 62	MACHINE CONDITION MONITORING MARKET, 2024–2029 (THOUSAND UNITS)	126 
9.2	HARDWARE	126 
TABLE 63	MACHINE CONDITION MONITORING MARKET, BY HARDWARE TYPE, 2020–2023 (USD MILLION)	126 
TABLE 64	MACHINE CONDITION MONITORING MARKET, BY HARDWARE TYPE, 2024–2029 (USD MILLION)	127 
TABLE 65	HARDWARE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	127 
TABLE 66	HARDWARE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	128 
9.2.1	VIBRATION SENSORS	128 
9.2.1.1	Rising use by automotive and oil & gas companies in process control and quality assurance applications to drive market	128 
9.2.1.2	Accelerometers	129 
9.2.1.3	Proximity probes	129 
9.2.1.4	Tachometers	129 
9.2.2	INFRARED SENSORS	130 
9.2.2.1	Increasing deployment in thermography applications to spot unusual heat patterns to fuel segmental growth	130 
9.2.2.2	Thermal infrared sensors	130 
9.2.2.3	Quantum infrared sensors	130 
9.2.3	SPECTROMETERS	130 
9.2.3.1	Surging adoption to detect contamination, degradation, and cross-contamination in synthetic and petroleum-based lubricants and fluids to stimulate market growth	130 
9.2.3.2	Infrared spectrometers	130 
9.2.3.3	Ultraviolet spectrometers	131 
9.2.3.4	Atomic spectrometers	131 
9.2.3.5	Mass spectrometers	131 
9.2.4	ULTRASOUND DETECTORS	131 
9.2.4.1	Surging adoption of predictive maintenance and quality control measures by industrial players to boost demand	131 
9.2.4.2	Sound pressure meters	131 
9.2.4.3	Stethoscopes	132 
9.2.4.4	Ultrasound leak detectors	132 
9.2.5	SPECTRUM ANALYZERS	132 
9.2.5.1	Significant focus on safe and efficient operation of industrial plants to drive market	132 
9.2.5.2	Swept spectrum analyzers	132 
9.2.5.3	Real-time spectrum analyzers	132 
9.2.6	CORROSION PROBES	132 
9.2.6.1	Pressing need to mitigate corrosion risks in petroleum and chemical processing plants to accelerate demand	132 
9.2.7	OTHER HARDWARE PRODUCTS	133 
9.3	SOFTWARE	133 
9.3.1	INTEGRATION OF SOFTWARE INTO MACHINE CONDITION MONITORING SYSTEM TO SIMPLIFY DEFECT ANALYSIS PROCESS TO DRIVE MARKET	133 
TABLE 67	LIST OF MACHINE CONDITION MONITORING SOFTWARE PROVIDERS AND THEIR HEADQUARTERS	133 
TABLE 68	SOFTWARE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	134 
TABLE 69	SOFTWARE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	134 
9.3.2	DATA INTEGRATION	135 
9.3.3	DIAGNOSTIC REPORTING	135 
9.3.4	ORDER TRACKING ANALYSIS	135 
9.3.5	PARAMETER CALCULATION	135 
9.4	SERVICES	135 
9.4.1	STRONG FOCUS OF MANUFACTURERS ON LONG-TERM RELIABILITY, PERFORMANCE OPTIMIZATION, AND CUSTOMER SATISFACTION TO BOOST DEMAND	135 
9.4.2	INSTALLATION	135 
9.4.3	TRAINING	136 
9.4.4	MAINTENANCE	136 
10	MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT MODE	137 
10.1	INTRODUCTION	138 
FIGURE 48	MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT MODE	138 
FIGURE 49	ON-PREMISES SEGMENT TO HOLD LARGER MARKET SHARE THROUGHOUT FORECAST PERIOD	138 
TABLE 70	MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT MODE, 2020–2023 (USD MILLION)	139 
TABLE 71	MACHINE CONDITION MONITORING MARKET, BY DEPLOYMENT MODE, 2024–2029 (USD MILLION)	139 
10.2	ON-PREMISES	139 
10.2.1	SIGNIFICANT FOCUS ON ENSURING COMPLETE DATA CONTROL AND SECURITY TO ACCELERATE SEGMENTAL GROWTH	139 
FIGURE 50	LIMITATIONS OF ON-PREMISES DEPLOYMENT	140 
10.3	CLOUD	140 
10.3.1	SUPERIOR FLEXIBILITY, CONVENIENCE, AND SCALABILITY TO INCREASE ADOPTION OF CLOUD MODEL	140 
FIGURE 51	ADVANTAGES OF CLOUD DEPLOYMENT	141 
11	MACHINE CONDITION MONITORING MARKET, BY TYPE	142 
11.1	INTRODUCTION	143 
FIGURE 52	MACHINE CONDITION MONITORING MARKET, BY TYPE	143 
FIGURE 53	ONLINE SEGMENT TO LEAD MACHINE CONDITION MONITORING MARKET FROM 2024 TO 2029	143 
TABLE 72	MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	143 
TABLE 73	MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	144 
11.2	ONLINE	144 
11.2.1	NEED FOR REAL-TIME DATA REGARDING VARIATIONS IN MACHINE PERFORMANCE FOR PROMPT DECISION-MAKING TO DRIVE MARKET	144 
TABLE 74	ONLINE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	144 
TABLE 75	ONLINE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	145 
TABLE 76	ONLINE: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	145 
TABLE 77	ONLINE: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	146 
11.3	PORTABLE	146 
11.3.1	COST-EFFECTIVENESS AND MAXIMIZED PRODUCTION OUTPUT TO BOOST DEMAND	146 
TABLE 78	PORTABLE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	147 
TABLE 79	PORTABLE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	147 
TABLE 80	PORTABLE: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	148 
TABLE 81	PORTABLE: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	148 
12	MACHINE CONDITION MONITORING MARKET, BY INDUSTRY	149 
12.1	INTRODUCTION	150 
FIGURE 54	MACHINE CONDITION MONITORING MARKET, BY INDUSTRY	150 
FIGURE 55	AUTOMOTIVE INDUSTRY TO RECORD HIGHEST CAGR IN MACHINE CONDITION MONITORING MARKET FROM 2024 TO 2029	151 
TABLE 82	MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	151 
TABLE 83	MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	152 
12.2	OIL & GAS	152 
12.2.1	RISING ADOPTION OF SMART FACTORY SOLUTIONS TO BOOST CONDITION MONITORING SYSTEM DEMAND	152 
TABLE 84	OIL & GAS: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	153 
TABLE 85	OIL & GAS: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	153 
TABLE 86	OIL & GAS: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	153 
TABLE 87	OIL & GAS: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	154 
TABLE 88	OIL & GAS: MACHINE CONDITION MONITORING MARKET, BY REGION, 2020–2023 (USD MILLION)	154 
TABLE 89	OIL & GAS: MACHINE CONDITION MONITORING MARKET, BY REGION, 2024–2029 (USD MILLION)	154 
12.3	POWER GENERATION	155 
12.3.1	INCREASING FOCUS ON IMPROVING POWER PLANT EFFICIENCY AND RELIABILITY TO PROMOTE ADOPTION OF MACHINE MONITORING SYSTEMS	155 
TABLE 90	POWER GENERATION: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	156 
TABLE 91	POWER GENERATION: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	156 
TABLE 92	POWER GENERATION: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	156 
TABLE 93	POWER GENERATION: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	157 
TABLE 94	POWER GENERATION: MACHINE CONDITION MONITORING MARKET, BY REGION, 2020–2023 (USD MILLION)	157 
TABLE 95	POWER GENERATION: MACHINE CONDITION MONITORING MARKET, BY REGION, 2024–2029 (USD MILLION)	157 
12.4	METALS & MINING	158 
12.4.1	GREATER EMPHASIS ON PREVENTING CATASTROPHIC SYSTEM FAILURES AND UNSCHEDULED DOWNTIME TO BOOST DEPLOYMENT OF VIBRATION SENSORS	158 
TABLE 96	METALS & MINING: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	158 
TABLE 97	METALS & MINING: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	159 
TABLE 98	METALS & MINING: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	159 
TABLE 99	METALS & MINING: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	159 
TABLE 100	METALS & MINING: MACHINE CONDITION MONITORING MARKET, BY REGION, 2020–2023 (USD MILLION)	160 
TABLE 101	METALS & MINING: MACHINE CONDITION MONITORING MARKET, BY REGION, 2024–2029 (USD MILLION)	160 
12.5	CHEMICALS	160 
12.5.1	HIGH ADOPTION OF AUTOMATION SOLUTIONS BY CHEMICAL MANUFACTURERS TO CREATE NEED FOR MACHINE MONITORING SYSTEMS	160 
TABLE 102	CHEMICALS: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	161 
TABLE 103	CHEMICALS: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	161 
TABLE 104	CHEMICALS: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	162 
TABLE 105	CHEMICALS: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	162 
TABLE 106	CHEMICALS: MACHINE CONDITION MONITORING MARKET, BY REGION, 2020–2023 (USD MILLION)	162 
TABLE 107	CHEMICALS: MACHINE CONDITION MONITORING MARKET, BY REGION, 2024–2029 (USD MILLION)	163 
12.6	AUTOMOTIVE	163 
12.6.1	GROWING DEPLOYMENT OF IIOT TO AUTOMATE AND DIGITALIZE MANUFACTURING PROCESSES TO CREATE OPPORTUNITIES FOR MARKET PLAYERS	163 
TABLE 108	AUTOMOTIVE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	164 
TABLE 109	AUTOMOTIVE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	164 
TABLE 110	AUTOMOTIVE: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	164 
TABLE 111	AUTOMOTIVE: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	165 
TABLE 112	AUTOMOTIVE: MACHINE CONDITION MONITORING MARKET, BY REGION, 2020–2023 (USD MILLION)	165 
TABLE 113	AUTOMOTIVE: MACHINE CONDITION MONITORING MARKET, BY REGION, 2024–2029 (USD MILLION)	165 
12.7	AEROSPACE	166 
12.7.1	RISING ADOPTION OF AI AND IOT TECHNOLOGIES BY AEROSPACE COMPANIES TO ELEVATE DEMAND FOR MACHINE MONITORING SOLUTIONS	166 
TABLE 114	AEROSPACE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	166 
TABLE 115	AEROSPACE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	167 
TABLE 116	AEROSPACE: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	167 
TABLE 117	AEROSPACE: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	167 
TABLE 118	AEROSPACE: MACHINE CONDITION MONITORING MARKET, BY REGION, 2020–2023 (USD MILLION)	168 
TABLE 119	AEROSPACE: MACHINE CONDITION MONITORING MARKET, BY REGION, 2024–2029 (USD MILLION)	168 
12.8	FOOD & BEVERAGES	168 
12.8.1	SURGING DEMAND FOR FOOD PRODUCTS WITH LONGER SHELF LIFE TO FACILITATE ADOPTION OF MACHINE MONITORING SOLUTIONS	168 
TABLE 120	FOOD & BEVERAGES: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	169 
TABLE 121	FOOD & BEVERAGES: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	170 
TABLE 122	FOOD & BEVERAGES: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	170 
TABLE 123	FOOD & BEVERAGES: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	170 
TABLE 124	FOOD & BEVERAGES: MACHINE CONDITION MONITORING MARKET, BY REGION, 2020–2023 (USD MILLION)	171 
TABLE 125	FOOD & BEVERAGES: MACHINE CONDITION MONITORING MARKET, BY REGION, 2024–2029 (USD MILLION)	171 
12.9	MARINE	171 
12.9.1	GROWING RELIANCE ON PREDICTIVE MAINTENANCE MODEL TO AUGMENT ADOPTION OF MACHINE MONITORING SYSTEMS	171 
TABLE 126	MARINE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	172 
TABLE 127	MARINE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	172 
TABLE 128	MARINE: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	173 
TABLE 129	MARINE: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	173 
TABLE 130	MARINE: MACHINE CONDITION MONITORING MARKET, BY REGION, 2020–2023 (USD MILLION)	173 
TABLE 131	MARINE: MACHINE CONDITION MONITORING MARKET, BY REGION, 2024–2029 (USD MILLION)	174 
12.10	OTHER INDUSTRIES	174 
TABLE 132	OTHER INDUSTRIES: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2020–2023 (USD MILLION)	174 
TABLE 133	OTHER INDUSTRIES: MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2024–2029 (USD MILLION)	175 
TABLE 134	OTHER INDUSTRIES: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2020–2023 (USD MILLION)	175 
TABLE 135	OTHER INDUSTRIES: MACHINE CONDITION MONITORING MARKET, BY TYPE, 2024–2029 (USD MILLION)	175 
TABLE 136	OTHER INDUSTRIES: MACHINE CONDITION MONITORING MARKET, BY REGION, 2020–2023 (USD MILLION)	176 
TABLE 137	OTHER INDUSTRIES: MACHINE CONDITION MONITORING MARKET, BY REGION, 2024–2029 (USD MILLION)	176 
13	MACHINE CONDITION MONITORING MARKET, BY REGION	177 
13.1	INTRODUCTION	178 
FIGURE 56	MACHINE CONDITION MONITORING MARKET, BY REGION	178 
FIGURE 57	INDIA TO EXHIBIT HIGHEST CAGR IN GLOBAL MACHINE CONDITION MONITORING MARKET DURING FORECAST PERIOD	179 
TABLE 138	MACHINE CONDITION MONITORING MARKET, BY REGION, 2020–2023 (USD MILLION)	179 
TABLE 139	MACHINE CONDITION MONITORING MARKET, BY REGION, 2024–2029 (USD MILLION)	179 
13.2	NORTH AMERICA	180 
13.2.1	NORTH AMERICA: RECESSION IMPACT	180 
FIGURE 58	NORTH AMERICA: MACHINE CONDITION MONITORING MARKET SNAPSHOT	181 
FIGURE 59	US TO ACCOUNT FOR LARGEST SHARE OF NORTH AMERICAN MARKET THROUGHOUT FORECAST PERIOD	182 
TABLE 140	NORTH AMERICA: MACHINE CONDITION MONITORING MARKET, BY COUNTRY, 2020–2023 (USD MILLION)	182 
TABLE 141	NORTH AMERICA: MACHINE CONDITION MONITORING MARKET, BY COUNTRY, 2024–2029 (USD MILLION)	182 
TABLE 142	NORTH AMERICA: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	183 
TABLE 143	NORTH AMERICA: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	183 
13.2.2	US	184 
13.2.2.1	Increasing adoption of IIoT technologies by manufacturing firms to drive market	184 
13.2.3	CANADA	184 
13.2.3.1	Rising deployment of smart factory solutions to fuel market growth	184 
13.2.4	MEXICO	185 
13.2.4.1	Growing implementation of automation solutions in industrial plants to support market growth	185 
13.3	EUROPE	185 
13.3.1	EUROPE: RECESSION IMPACT	185 
FIGURE 60	EUROPE: MACHINE CONDITION MONITORING MARKET SNAPSHOT	186 
FIGURE 61	GERMANY TO LEAD EUROPEAN MARKET THROUGHOUT FORECAST PERIOD	187 
TABLE 144	EUROPE: MACHINE CONDITION MONITORING MARKET, BY COUNTRY, 2020–2023 (USD MILLION)	187 
TABLE 145	EUROPE: MACHINE CONDITION MONITORING MARKET, BY COUNTRY, 2024–2029 (USD MILLION)	187 
TABLE 146	EUROPE: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	188 
TABLE 147	EUROPE: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	188 
13.3.2	GERMANY	189 
13.3.2.1	Thriving automotive sector to contribute to market growth	189 
13.3.3	UK	189 
13.3.3.1	Rising use of IoT devices by manufacturers to foster market growth	189 
13.3.4	FRANCE	190 
13.3.4.1	Booming aerospace industry to create opportunities for machine condition monitoring system providers	190 
13.3.5	REST OF EUROPE	190 
13.4	ASIA PACIFIC	191 
13.4.1	ASIA PACIFIC: RECESSION IMPACT	191 
FIGURE 62	ASIA PACIFIC: MACHINE CONDITION MONITORING MARKET SNAPSHOT	192 
FIGURE 63	CHINA TO GAIN LARGEST MARKET SHARE IN ASIA PACIFIC THROUGHOUT FORECAST PERIOD	193 
TABLE 148	ASIA PACIFIC: MACHINE CONDITION MONITORING MARKET, BY COUNTRY, 2020–2023 (USD MILLION)	193 
TABLE 149	ASIA PACIFIC: MACHINE CONDITION MONITORING MARKET, BY COUNTRY, 2024–2029 (USD MILLION)	193 
TABLE 150	ASIA PACIFIC: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	194 
TABLE 151	ASIA PACIFIC: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	194 
13.4.2	CHINA	195 
13.4.2.1	Surging adoption of automation technologies owing to increasing labor costs to drive market	195 
13.4.3	JAPAN	195 
13.4.3.1	Shrinking workforce and aging population to boost adoption of advanced machine condition monitoring systems in smart factories	195 
13.4.4	INDIA	196 
13.4.4.1	Digital India and Make in India initiatives to create opportunities for market players	196 
13.4.5	REST OF ASIA PACIFIC	196 
13.5	REST OF THE WORLD (ROW)	197 
13.5.1	ROW: RECESSION IMPACT	197 
FIGURE 64	GCC COUNTRIES TO DOMINATE MARKET IN ROW IN 2024	197 
TABLE 152	ROW: MACHINE CONDITION MONITORING MARKET, BY GEOGRAPHY, 2020–2023 (USD MILLION)	198 
TABLE 153	ROW: MACHINE CONDITION MONITORING MARKET, BY GEOGRAPHY, 2024–2029 (USD MILLION)	198 
TABLE 154	ROW: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	198 
TABLE 155	ROW: MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	199 
13.5.2	GCC COUNTRIES	199 
13.5.2.1	Strong presence of oil & gas industry to fuel market growth	199 
TABLE 156	MACHINE CONDITION MONITORING MARKET, BY GCC COUNTRY, 2020–2023 (USD MILLION)	200 
TABLE 157	MACHINE CONDITION MONITORING MARKET, BY GCC COUNTRY, 2024–2029 (USD MILLION)	200 
13.5.2.2	Saudi Arabia	200 
13.5.2.2.1	Strong focus on oil production activities to boost adoption of machine condition monitoring systems	200 
13.5.2.3	UAE	200 
13.5.2.3.1	Booming manufacturing sector to drive market	200 
13.5.2.4	Rest of GCC countries	201 
13.5.3	REST OF MIDDLE EAST & AFRICA	201 
13.5.3.1	Flourishing mining industry to support market growth	201 
13.5.4	SOUTH AMERICA	201 
13.5.4.1	Emergence of region as manufacturing hub to create growth opportunities	201 
14	COMPETITIVE LANDSCAPE	202 
14.1	INTRODUCTION	202 
14.2	STRATEGIES ADOPTED BY KEY PLAYERS	202 
TABLE 158	OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS	202 
14.3	REVENUE ANALYSIS OF KEY PLAYERS IN MACHINE CONDITION MONITORING MARKET	204 
FIGURE 65	FIVE-YEAR REVENUE ANALYSIS OF KEY PLAYERS IN MACHINE CONDITION MONITORING MARKET, 2018–2022	204 
14.4	MARKET SHARE ANALYSIS, 2023	205 
TABLE 159	MACHINE CONDITION MONITORING MARKET SHARE ANALYSIS (2023)	205 
FIGURE 66	INDUSTRY CONCENTRATION, 2023	206 
14.5	EVALUATION MATRIX FOR KEY COMPANIES, 2023	207 
14.5.1	STARS	207 
14.5.2	EMERGING LEADERS	207 
14.5.3	PERVASIVE PLAYERS	207 
14.5.4	PARTICIPANTS	208 
FIGURE 67	MACHINE CONDITION MONITORING MARKET: KEY COMPANY EVALUATION MATRIX, 2023	208 
14.5.5	COMPANY FOOTPRINT ANALYSIS	209 
TABLE 160	OVERALL FOOTPRINT: KEY COMPANIES (25 COMPANIES)	209 
TABLE 161	INDUSTRY FOOTPRINT: KEY COMPANIES (25 COMPANIES)	210 
TABLE 162	REGION FOOTPRINT: KEY COMPANIES (25 COMPANIES)	211 
14.6	EVALUATION MATRIX FOR STARTUPS/SMES, 2023	212 
14.6.1	PROGRESSIVE COMPANIES	212 
14.6.2	RESPONSIVE COMPANIES	212 
14.6.3	DYNAMIC COMPANIES	212 
14.6.4	STARTING BLOCKS	212 
FIGURE 68	MACHINE CONDITION MONITORING MARKET: STARTUPS/SMES EVALUATION MATRIX, 2023	213 
14.6.5	COMPETITIVE BENCHMARKING	214 
TABLE 163	DETAILED LIST OF KEY STARTUPS/SMES	214 
TABLE 164	COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (5 COMPANIES)	214 
TABLE 165	OVERALL FOOTPRINT: STARTUPS/SMES (5 COMPANIES)	215 
14.7	COMPETITIVE SCENARIO AND TRENDS	215 
TABLE 166	MACHINE CONDITION MONITORING MARKET: PRODUCT LAUNCHES	215 
TABLE 167	MACHINE CONDITION MONITORING MARKET: DEALS	217 
15	COMPANY PROFILES	218 
15.1	KEY PLAYERS	218 
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)* 
15.1.1	BAKER HUGHES COMPANY	218 
TABLE 168	BAKER HUGHES COMPANY: COMPANY OVERVIEW	218 
FIGURE 69	BAKER HUGHES COMPANY: COMPANY SNAPSHOT	219 
TABLE 169	BAKER HUGHES COMPANY: PRODUCTS OFFERED	220 
15.1.2	EMERSON ELECTRIC CO.	221 
TABLE 170	EMERSON ELECTRIC CO.: COMPANY OVERVIEW	221 
FIGURE 70	EMERSON ELECTRIC CO.: COMPANY SNAPSHOT	222 
TABLE 171	EMERSON ELECTRIC CO.: PRODUCTS OFFERED	222 
TABLE 172	EMERSON ELECTRIC CO.: PRODUCT LAUNCHES	223 
TABLE 173	EMERSON ELECTRIC CO.: DEALS	224 
15.1.3	AMPHENOL CORPORATION	225 
TABLE 174	AMPHENOL CORPORATION: COMPANY OVERVIEW	225 
FIGURE 71	AMPHENOL CORPORATION: COMPANY SNAPSHOT	226 
TABLE 175	AMPHENOL CORPORATION: PRODUCTS OFFERED	226 
TABLE 176	AMPHENOL CORPORATION: PRODUCT LAUNCHES	227 
15.1.4	HONEYWELL INTERNATIONAL INC.	228 
TABLE 177	HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW	228 
FIGURE 72	HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT	229 
TABLE 178	HONEYWELL INTERNATIONAL INC.: PRODUCTS OFFERED	230 
TABLE 179	HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES	230 
15.1.5	SKF	232 
TABLE 180	SKF: COMPANY OVERVIEW	232 
FIGURE 73	SKF: COMPANY SNAPSHOT	233 
TABLE 181	SKF: PRODUCTS OFFERED	233 
TABLE 182	SKF: PRODUCT LAUNCHES	234 
TABLE 183	SKF: DEALS	235 
15.1.6	ANALOG DEVICES, INC.	236 
TABLE 184	ANALOG DEVICES, INC.: COMPANY OVERVIEW	236 
FIGURE 74	ANALOG DEVICES, INC.: COMPANY SNAPSHOT	237 
TABLE 185	ANALOG DEVICES, INC.: PRODUCTS OFFERED	237 
15.1.7	GENERAL ELECTRIC	238 
TABLE 186	GENERAL ELECTRIC: COMPANY OVERVIEW	238 
FIGURE 75	GENERAL ELECTRIC: COMPANY SNAPSHOT	239 
TABLE 187	GENERAL ELECTRIC: PRODUCTS OFFERED	239 
15.1.8	PARKER HANNIFIN CORP	240 
TABLE 188	PARKER HANNIFIN CORP: COMPANY OVERVIEW	240 
FIGURE 76	PARKER HANNIFIN CORP: COMPANY SNAPSHOT	241 
TABLE 189	PARKER HANNIFIN CORP: PRODUCTS OFFERED	242 
15.1.9	ROCKWELL AUTOMATION	243 
TABLE 190	ROCKWELL AUTOMATION: COMPANY OVERVIEW	243 
FIGURE 77	ROCKWELL AUTOMATION: COMPANY SNAPSHOT	244 
TABLE 191	ROCKWELL AUTOMATION: PRODUCTS OFFERED	245 
15.1.10	SCHAEFFLER AG	246 
TABLE 192	SCHAEFFLER AG: COMPANY OVERVIEW	246 
FIGURE 78	SCHAEFFLER AG: COMPANY SNAPSHOT	247 
TABLE 193	SCHAEFFLER AG: PRODUCTS OFFERED	248 
TABLE 194	SCHAEFFLER AG: PRODUCT LAUNCHES	248 
15.1.11	SIEMENS	249 
TABLE 195	SIEMENS: COMPANY OVERVIEW	249 
FIGURE 79	SIEMENS: COMPANY SNAPSHOT	250 
TABLE 196	SIEMENS: PRODUCTS OFFERED	251 
TABLE 197	SIEMENS: DEALS	251 
15.1.12	TELEDYNE TECHNOLOGIES INCORPORATED	252 
TABLE 198	TELEDYNE TECHNOLOGIES INCORPORATED: COMPANY OVERVIEW	252 
FIGURE 80	TELEDYNE TECHNOLOGIES INCORPORATED: COMPANY SNAPSHOT	253 
TABLE 199	TELEDYNE TECHNOLOGIES INCORPORATED: PRODUCTS OFFERED	254 
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies. 
15.2	OTHER COMPANIES	255 
15.2.1	3D SIGNALS	255 
15.2.2	BANNER ENGINEERING CORP.	255 
15.2.3	CRYSTAL INSTRUMENTS	256 
15.2.4	ECOLIBRIUM	256 
15.2.5	FLUKE CORPORATION	257 
15.2.6	IFM ELECTRONIC GMBH	258 
15.2.7	LOGILUBE, LLC	259 
15.2.8	MACHINE SAVER	260 
15.2.9	PETASENSE INC.	261 
15.2.10	SAMOTICS	261 
15.2.11	SPM INSTRUMENT AB	262 
15.2.12	SYMPHONYAI	263 
15.2.13	UPTIMEWORKS	264 
16	ADJACENT AND RELEVANT MARKETS	265 
16.1	INTRODUCTION	265 
16.2	TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION	265 
16.2.1	INTRODUCTION	265 
TABLE 200	TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION, 2019–2022 (USD MILLION)	265 
TABLE 201	TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	266 
16.2.2	NORTH AMERICA	266 
TABLE 202	NORTH AMERICA: TEST AND MEASUREMENT EQUIPMENT MARKET, BY COUNTRY, 2019–2022 (USD MILLION)	266 
TABLE 203	NORTH AMERICA: TEST AND MEASUREMENT EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	267 
TABLE 204	NORTH AMERICA: TEST AND MEASUREMENT EQUIPMENT MARKET, BY TYPE, 2019–2022 (USD MILLION)	267 
TABLE 205	NORTH AMERICA: TEST AND MEASUREMENT EQUIPMENT MARKET, BY TYPE, 2023–2028 (USD MILLION)	267 
TABLE 206	NORTH AMERICA: TEST AND MEASUREMENT EQUIPMENT MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)	267 
TABLE 207	NORTH AMERICA: TEST AND MEASUREMENT EQUIPMENT MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)	268 
16.2.2.1	US	268 
16.2.2.1.1	Increasing use of communication test and measurement equipment to supply high-quality voice, video, and data center services to drive market	268 
16.2.2.2	Canada	269 
16.2.2.2.1	Rising demand for broadband services and communication testing to fuel market growth	269 
16.2.2.3	Mexico	270 
16.2.2.3.1	Increasing demand for compact cars to support market growth	270 
17	APPENDIX	271 
17.1	INSIGHTS FROM INDUSTRY EXPERTS	271 
17.2	DISCUSSION GUIDE	272 
17.3	KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL	276 
17.4	CUSTOMIZATION OPTIONS	278 
17.5	RELATED REPORTS	278 
17.6	AUTHOR DETAILS	279 |