The condition monitoring market is primarily driven by the increasing demand of smart factories. The demand of smart factories is increasing rapidly which means the factories are likely to be autonomous. These needs different machinery equipment that at some point of time wears out due to tear, corrosion and surface degradation. In order to identify and prevent those problems condition monitoring equipment are necessary. Moreover, the condition monitoring market is also driven by the increasing remote monitoring. Remote monitoring helps to remotely operate the condition monitoring equipment with or without physical presence. It helps to notify when there is any change in condition in the machineries. Thus it helps in preventing failure of the machines.
The major players in Condition Monitoring Equipment Market are Emerson Process Management, Honeywell International Inc., General Electric Company, National Instruments Corporation, SKF AB, Rockwell Automation, Inc., Parker Hannifin Corporation, Brüel & Kjaer Vibro GmbH, Azima Dli Corporation, Fluke Corporation among others.
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