Machine Condition Monitoring Market Product (Vibration Monitoring, Thermography & Ultrasound Emission) worth $2.50 Billion by 2020 – New Report by MarketsandMarkets
(PRWEB) November 13, 2014 -- The report “Machine Condition Monitoring Market by Product (Vibration Monitoring, Thermography, Ultrasound Emission, Lubricating Oil Analysis, Corrosion Monitoring, and Motor Current Signature Analysis), Component, Application, and Geography - Global Forecast to 2013 - 2020", defines and segments the machine condition monitoring market into various sub-segments with an in-depth analysis and forecasting of revenues.
Machine Condition Monitoring plays a vital role in meeting the requirements of advances in technology and face automation growth, together with more complexity. It predicts the machinery faults before failure. It improves reliability and cost effectiveness of existing machinery and provides useful information for future developments.
Browse 126 market data tables, 50 figures spread through 322 Pages and in-depth TOC on "Machine Condition Monitoring Market".
http://www.marketsandmarkets.com/Market-Reports/machine-health-monitoring-market-29627363.html
Early buyers will receive 10% customization on this report.
Machine condition monitoring is a continuous assessment of equipment and machinery. Implementing machine condition monitoring system helps reduce plant operating costs by reducing maintenance cost, optimizing maintenance activities during planned shutdowns and lowering the instances of unscheduled outages.
Growth of low-cost advanced condition monitoring equipment, integrated with quick processing functions, direct communication procedures, and improved software will attract tremendous opportunities for the market in coming years.
The most important drivers for the machine condition monitoring market are the improvement in equipment reliability by effective prediction of their failures, achieving reduced frequency and severity of equipment down-times, maximizing component life by proper scheduling of maintenance programs, maximizing equipment performance and throughput, ensuring the safety of equipment and personnel and many more.
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The major companies involved in machine condition 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.
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