Wireless Motor Monitoring System Market to grow by USD 118.48 million between 2024-2028
According to a research report “ Wireless Motor Monitoring System Market” by Product (Vibration sensors, Power sensors, Dual analog sensors) End-user (Oil and gas, Automotive, Water and wastewater industry, Food and beverage, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 118.48 million at a CAGR of over 4.36% during the forecast period. In the industrial landscape, a Wireless Motor Monitoring System plays a pivotal role in enhancing production efficiency and minimizing downtime. Interconnected machinery necessitates proactive maintenance to prevent production disruptions. Poor maintenance strategies can adversely impact a plant's overall production capacity. Predictive maintenance, facilitated by wireless motor monitoring systems, optimizes runtime, enables preventive repairs, and offers logistical convenience by scheduling maintenance outside of production hours or during personnel availability..
Browse market data tables, figures, and in-depth TOC on “Wireless Motor Monitoring System Market” by Product (Vibration sensors, Power sensors, Dual analog sensors) End-user (Oil and gas, Automotive, Water and wastewater industry, Food and beverage, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028.
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By Product, the Vibration sensors segment is projected to dominate the market size in 2024.
In the oil and gas industry, electric motors account for approximately 80% of the energy consumption. These motors are indispensable for powering various processes, including pump operation, air compressor function, and fan activation, among others. Preventive maintenance has emerged as a crucial response to ensure the reliability and efficiency of these motors. Wireless motor monitoring systems offer significant advantages in this regard, such as reduced retrofit costs and easier installation in diverse terrains. The adoption of these systems is projected to surge in on-shore extracting facilities due to their ability to enhance asset performance and optimize energy usage.
By End-user, Oil and gas segment is expected to hold the largest market size for the year 2024.
In the industrial sector, motor vibration can originate from various sources such as bearing issues, misalignment, belt frequency disturbances, and electrical faults. These vibrations negatively impact motor performance and device efficiency. Wireless Motor Monitoring Systems have revolutionized vibration analysis, enabling businesses to monitor motors remotely and stream live data via the Internet. This innovation enhances operational efficiency, reduces downtime, and improves overall equipment effectiveness (OEE).
North America is forecasted to hold the largest market size by region in 2024.
The North American oil and gas sector is thriving, driven by shale gas discoveries, positioning it as a significant global exporter. The oil and gas industry's expansion is anticipated during the forecast period, with the Gulf Cooperation Council (GCC) countries ensuring stability. In the automotive sector, Canada and Mexico are projected to grow, despite a potential decrease in North American sales due to high motorization rates. The water and wastewater industry in North America is approaching maturity. For the Wireless Motor Monitoring System Market, this business environment presents opportunities for growth and innovation.
The Wireless Motor Monitoring System Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
In the realm of industrial automation, the Wireless Motor Monitoring System market has gained significant traction. This technology, which leverages wireless communication, plays a crucial role in various sectors including Food and Beverage, Oil and Gas, Agriculture, and Heavy Machinery. The system facilitates real-time monitoring of machine condition, ensuring personnel safety by identifying damages in plants and machinery. Wireless technologies, such as Bluetooth, Wi-Fi, and cellular networks, serve as the transmission media for these systems. They enable mobility, allowing users to monitor machine conditions from remote locations. Vibration analysis, a key feature of these systems, is facilitated by dual analog sensors and vibration sensors. These sensors measure variations in acceleration, displacement, velocity, and power to assess machine health. Condition-based maintenance strategies are increasingly being adopted due to the benefits offered by wireless motor monitoring systems. By providing real-time data on machine conditions, these systems enable predictive maintenance, reducing downtime and maintenance costs. In conclusion, the Wireless Motor Monitoring System market is a vital component in ensuring the reliability and efficiency of industrial operations across various industries.
Market Research Overview
In the dynamic and complex industrial landscape, the demand for advanced motor monitoring systems has gained significant traction in sectors such as aerospace and defense, food and beverages, water and wastewater, power generation, metals and mining, and more. Wireless motor monitoring systems, in particular, have emerged as a game-changer in machine condition monitoring. These systems leverage the power of spectrum analyzers, ultrasound detectors, infrared sensors, and other hardware components to detect motor failures, torque imbalances, alignment issues, corrosion, vibration, temperature variations, and other electrical and mechanical errors in real time. The cost of sensors, including dual analog sensors and vibration sensors, has decreased due to advancements in semiconductor industry and IoT technologies. This has made wireless motor monitoring systems an affordable solution for industrial facilities, factories, and machines, leading to increased productivity and reduced indirect costs. Remote monitoring capabilities enable personnel safety by minimizing the need for on-site inspections and reducing damages in plants. Wireless technologies, such as wireless communication technology, enable mobility and real-time data transmission, allowing for imminent failure detection and condition-based maintenance.
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