Global Condition Monitoring Services Market Forecast to 2025: A $4.8 Billion Opportunity - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jul 30, 2018--The “Global Condition Monitoring Services Market, Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
This report identifies key opportunities for growth while detailing key challenges and possible threats. The base year for this study is 2017 and the forecast period is from 2018 to 2025.
The condition monitoring services market will undergo a significant transformation over the next 5-8 years with the advent of new technologies changing customer requirements in connectivity and analytics, and with evolving business models featuring among other services specifications.
From $1.92 billion in 2017, the market revenues are expected to reach $4.8 billion by 2025 at a CAGR of 12.3%, although the revenue trajectory varies among different service segments.
Improved customer appreciation of the benefits of condition monitoring, wider leverage of standards and certification, reduced condition monitoring equipment prices, and the demand for analytics will underpin growth. Customers are looking to derive actionable insights from their condition monitoring data and require assistance with integrating disparate data and leveraging analytics.
The global condition monitoring equipment market is going through an evolutionary phase. Advancements in connectivity solutions, data processing, analytics, and cloud computing underline the need for integrated service providers. This need is expected to give rise to opportunities for market convergence, as companies that are experienced in areas such as analytics or condition monitoring software may impact the competitive dynamics in this market.
Recovery in oil and gas prices and other key technology changes have pushed service vendors to rethink and reinvent. Despite these challenges, pockets of opportunities across the industry and increased awareness among end users about condition monitoring have helped the market surge ahead.
Key Topics Covered
1. Executive Summary
2. Market Overview
3. Drivers and Restraints - Total Condition Monitoring Services Market
4. Market and Technology Trends
5. Forecasts and Trends - Total Condition Monitoring Services Market
6. Market Share and Competitive Analysis - Total Condition Monitoring Services Market
7. Growth Opportunities and Companies to Action
8. Mega Trends and Industry Convergence Implications
9. Mega Trend I - Connectivity and Convergence
10. Mega Trend II - Redefining Condition Monitoring with IIoT
11. Mega Trend III - Evolving Business Models
12. Vibration Condition Monitoring Services Segment Analysis
13. Lubricating Oil Analysis Services Segment Analysis
14. Thermography Services Segment Analysis
15. Other Services Segment Analysis
16. The Last Word
Companies FeaturedNEC Avio Infrared Parker Kittiwake Allied Reliability I-Care Siemens SPM Instruments Schneider Electric Spectro Scientific Emerson Azima DLI PerkinElmer Thermoteknix SKF ABB Pepperl + Fuchs Bruel & Kjaer ALS Global Pruftechnik Valmet Fluke GasTOPS Schaeffler GE Measurement & Control (Bently Nevada) Thermo Fisher Scientific FLIR National Instruments Testo Rockwell Automation
For more information about this report visit https://www.researchandmarkets.com/research/8fwj7n/global_condition?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180730005558/en/
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Related Topics:Industrial Automation
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SOURCE: Research and Markets
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PUB: 07/30/2018 12:07 PM/DISC: 07/30/2018 12:07 PM