Global Machine Condition Monitoring Market is estimated to be valued at USD 3.62 Bn in 2025 and is expected to reach USD 6.54 Bn by 2032, growing at a compound annual growth rate (CAGR) of 8.8% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 3.62 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
8.80%
2032 Value Projection:
USD 6.54 Bn
Figure. Machine Condition Monitoring Market Share (%), By Region 2025
Report Description:
Machine condition monitoring refers to the process of measuring and analyzing the condition of machines in order to identify faults during operation. With increased automation and digitization across industries, machine condition monitoring has gained prominence to ensure optimal performance of assets and mitigate unexpected failures. Rising need for predictive maintenance and asset management is a key factor driving the demand for machine condition monitoring systems globally. Advanced technologies such as smart sensors, IoT connectivity, big data analytics, and artificial intelligence are enabling next-generation machine condition monitoring solutions to precisely detect anomalies and faults in complex machinery. The machine condition monitoring market is poised to grow significantly in the coming years as industrial companies look to leverage data-driven maintenance strategies for optimized equipment uptime.
Market Dynamics:
The global machine condition monitoring market is witnessing robust growth driven by several factors such as the need for preventive maintenance, focus on reducing operational costs, and maximizing asset uptime. Advancements in IoT, wireless sensors, cloud platforms, and data analytics have enabled real-time equipment condition monitoring across industries. On the other hand, high upfront costs associated with installation and upgrades of machine condition monitoring systems could limit adoption to some extent. Furthermore, lack of skilled workforce and technical complexities related to integrating legacy machinery with modern solutions remain major challenges. However, growing demand from process and discrete manufacturing industries for predictive maintenance are expected to unleash new opportunities for market participants. Key players are investing in developing machine learning-based solutions for effective predictive analytics using large equipment datasets.
Key features of the study:
This report provides an in-depth analysis of the global machine condition monitoring market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global machine condition monitoring market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Advanced Technology Services, Inc., Allied Reliability,, Analog Devices Inc., Baker Huges Company, Crystal Instruments, Dewesoft, Emerson Electric Co., Fluke Corporation, General Electric,, Honeywell International, Meggit Plc,, National Instruments Corporation, Parker Hannifin Corporation, Rockwell Automation Inc., Schaeffler AG, SKF, and Amphenol Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global machine condition monitoring market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global machine condition monitoring market
Market Segmentation
By Offerings
Hardware
Vibration Sensors
Infrared Sensors
Spectrometers
Corrosion Probes
Ultrasound Detectors
Spectrum Analyzers
Software
Services
Deployment
Cloud
On-premises
End-use Industry
Automotive
Oil and Gas
Power Generation
Chemicals
Metals and Mining
Aerospace and Defense
Food and Beverages
Others
Regional
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
Key Players Insights
Advanced Technology Services, Inc.
Allied Reliability,
Analog Devices Inc.,
Baker Huges Company
Crystal Instruments
Dewesoft
Emerson Electric Co.
Fluke Corporation
General Electric,
Honeywell International
Meggit Plc,
National Instruments Corporation
Parker Hannifin Corporation
Rockwell Automation Inc.
Schaeffler AG
SKF, Amphenol Inc.,
Table of Contents:
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snapshot, By Offerings
Market Snapshot, By Deployment
Market Snapshot, By End-use Industry
Market Snapshot, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
Opportunities
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario
4. Global Machine Condition Monitoring Market - Impact of Coronavirus (COVID-19) Pandemic
COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact
5. Global Machine Condition Monitoring Market, By Offerings, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021-2032
Segment Trends
Hardware
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Vibration Sensors
Infrared Sensors
Spectrometers
Corrosion Probes
Ultrasound Detectors
Spectrum Analyzers
Software
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Services
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
6. Global Machine Condition Monitoring Market, By Deployment, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021-2032
Segment Trends
Cloud
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
On-premises
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
7. Global Machine Condition Monitoring Market, By End-use Industry, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021-2032
Segment Trends
Automotive
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Oil and Gas
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Power Generation
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Chemicals
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Metals and Mining
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Aerospace and Defense
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Food and Beverages
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
8. Global Machine Condition Monitoring Market, By Region, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, By Region, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021-2032
North America
Regional Trends
Market Size and Forecast, By Offerings, 2020 - 2032 (USD Billion)
Market Size and Forecast, By Deployment, 2020 - 2032 (USD Billion)
Market Size and Forecast, By End-use Industry, 2020 - 2032 (USD Billion)
Market Share Analysis, By Country, 2025 and 2032 (%)
U.S.
Canada
Europe
Regional Trends
Market Size and Forecast, By Offerings, 2020 - 2032 (USD Billion)
Market Size and Forecast, By Deployment, 2020 - 2032 (USD Billion)
Market Size and Forecast, By End-use Industry, 2020 - 2032 (USD Billion)
Market Share Analysis, By Country, 2025 and 2032 (%)
U.K.
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
Regional Trends
Market Size and Forecast, By Offerings, 2020 - 2032 (USD Billion)
Market Size and Forecast, By Deployment, 2020 - 2032 (USD Billion)
Market Size and Forecast, By End-use Industry, 2020 - 2032 (USD Billion)
Market Share Analysis, By Country, 2025 and 2032 (%)
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Latin America
Regional Trends
Market Size and Forecast, By Offerings, 2020 - 2032 (USD Billion)
Market Size and Forecast, By Deployment, 2020 - 2032 (USD Billion)
Market Size and Forecast, By End-use Industry, 2020 - 2032 (USD Billion)
Market Share Analysis, By Country, 2025 and 2032 (%)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
Regional Trends
Market Size and Forecast, By Offerings, 2020 - 2032 (USD Billion)
Market Size and Forecast, By Deployment, 2020 - 2032 (USD Billion)
Market Size and Forecast, By End-use Industry, 2020 - 2032 (USD Billion)
Market Share Analysis, By Country/Sub-region, 2025 and 2032 (%)