Wireless Motor Monitoring System Market size to grow by USD 118.48 million between 2023 - 2028| Driven by Increasing need for predictive maintenance- Technavio

NEW YORK, Nov. 8, 2023 /PRNewswire/ -- The Wireless Motor Monitoring System Market size is expected to grow by USD 118.48 million, accelerating at a CAGR of 4.36% during the forecast period according to Technavio's market analysis. The growth is driven by the advantages of using wireless solutions in an industrial environment. Industrial facilities consist of a diverse range of interconnected devices, encompassing data collection units, intelligent machinery, and supervisory systems. These devices utilize various communication protocols and media for connectivity, some of which can be effectively replaced by wireless technologies, resulting in enhanced manufacturing and production advantages. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy full report here

• One of the significant obstacles impeding the growth of the wireless motor monitoring system market is the issue of battery life in wireless monitoring systems. These monitoring systems are predominantly reliant on batteries for power, as they are intended for operation from remote locations. Furthermore, wireless systems provide the advantage of flexibility in their placement throughout industrial facilities, eliminating the necessity for wiring for charging or activating the devices.
• Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now

The wireless motor monitoring system market has segmented by Product (Vibration sensors, Power sensors, and Dual analog sensors), End-user (Oil and gas, Automotive, Water and wastewater industry, Food and beverage, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• The vibration sensors segment is anticipated to experience substantial market share growth during the forecast period. The vibrations generated by motors can lead to irregular functioning of connected equipment and reduced performance efficiency. Vibration sensors are instrumental in quantifying motor vibrations in terms of velocity, displacement, and acceleration. Consequently, the integration of wireless motor monitoring has enhanced the functionality of vibration sensors.
• North America will make a substantial 52% contribution to the global market's growth during the forecast period. A significant driver for market growth in North America is the extensive exploration of shale gas, which has significantl increased the region's status as a major oil-exporting hub. Additionally, the expansion of the automotive industry in North America is positively influencing market growth.
• View Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the wireless motor monitoring system market:

• ABB Ltd.
• Beckhoff Automation GmbH and Co. KG
• Eaton Corp. Plc
• Emerson Electric Co.
• Fluke Corp.
• General Electric Co.
• Honeywell International Inc.
• Infineon Technologies AG
• K. A. Schmersal Holding GmbH and Co. KG
• Mitsubishi Electric Corp.
• Moxa Inc.
• OleumTech Corp.
• OMRON Corp.
• Pepperl and Fuchs SE
• Phoenix Contact GmbH and Co. KG
• Robert Bosch GmbH
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• Yokogawa Electric Corp.

Related Reports:

Wireless Antenna Market: The wireless antenna market share is expected to increase by USD 4.41 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.41%.

Wireless Charging Market: The wireless charging market size is estimated to grow at a CAGR of 25.29% between 2022 and 2027. The market size is forecast to increase by USD 12,668.16 million.

TOC:

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Sizes
5. Five Forces Analysis
6. Market Segmentation by Product
7. Market Segmentation by End-User
8. Market Segmentation by Geography
9. Customer Landscape
10. Geographic Landscape
11. Drivers, Challenges, & Trends
12. Company Landscape
13. Company Analysis
14. Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED