Machine Condition Monitoring Market Size, Growth Drivers, Report 2030

Name: Machine Condition Monitoring Market Size, Growth Drivers, Report 2030
Creator: Mordor Intelligence
License: https://www.mordorintelligence.com/privacy-policy

Machine Condition Monitoring Market Size and Share

Market Overview

Study Period	2019 - 2030
Market Size (2025)	USD 1.40 Billion
Market Size (2030)	USD 2.20 Billion
Growth Rate (2025 - 2030)	9.60% CAGR
Fastest Growing Market	Asia Pacific
Largest Market	North America
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Machine Condition Monitoring Market (2025 - 2030) — Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Machine Condition Monitoring Market Analysis by Mordor Intelligence

The machine condition monitoring market reached a value of USD 1.4 billion in 2025 and is on course to attain USD 2.2 billion by 2030, reflecting a 9.6% CAGR. The shift from reactive repair to data-driven predictive maintenance underpins this momentum, supported by rising wireless IIoT sensor deployments and AI-enabled diagnostics platforms that shorten decision cycles. Industrial producers face constrained workforces and escalating uptime targets, which heighten demand for automated fault-detection systems. Wireless sensor nodes paired with edge analytics reduce total cost of ownership and unlock coverage for smaller, previously unmonitored assets. Sustainability mandates further elevate adoption because continuous insight into energy performance helps manufacturers meet emissions disclosure rules. Competitive intensity remains moderate as incumbents rely on installed-base scale while AI-centric entrants contest value through advanced analytics and SaaS delivery.

Key Report Takeaways

By offering, hardware commanded 45% revenue share in 2024; wireless IIoT sensors are projected to advance at a 12.4% CAGR through 2030.
By monitoring technique, vibration analysis led with 34.2% of the machine condition monitoring market share in 2024, whereas ultrasound emission is set to expand at an 11.8% CAGR to 2030.
By deployment, online and continuous systems accounted for 48.1% of the machine condition monitoring market size in 2024; wireless IIoT sensor networks exhibit the strongest 12.4% CAGR outlook.
By end-user industry, oil and gas operations generated 27.3% of 2024 revenue, while food and beverage manufacturing shows the fastest 10.5% CAGR through 2030.
By geography, North America captured 32.4% revenue in 2024; the Asia-Pacific region is projected to grow at a 9.9% CAGR to 2030.

Global Machine Condition Monitoring Market Trends and Insights

Drivers Impact Analysis

Driver	(~) % Impact on CAGR Forecast	Geographic Relevance	Impact Timeline
Predictive-maintenance focus to cut unplanned downtime	2.10%	Global	Medium term (2-4 years)
Adoption of Industry 4.0 edge-analytics platforms	1.80%	North America, EU, APAC core	Medium term (2-4 years)
Surging asset-intensive sectors in emerging Asia	1.40%	APAC core, spill-over to MEA	Long term (≥ 4 years)
Wireless IIoT sensors slashing total cost of ownership	1.60%	Global	Short term (≤ 2 years)

Source: Mordor Intelligence

Predictive-maintenance focus to cut unplanned downtime

Manufacturing operations lose USD 50 billion each year to surprise stoppages, so firms are replacing calendar-based servicing with predictive approaches that trim downtime by 20–50% and maintenance spend by 5–10% ^{[1]IEN, "Realizing the Fulfillment of Industry 4.0 with Predictive and Prescriptive Maintenance", IEN, ien.com}. Machine-learning algorithms draw on multi-sensor data streams to pinpoint failures weeks ahead, letting teams intervene during scheduled pauses. Automotive plants show success as BMW and Tesla extend equipment life cycles using real-time analytics . Digital twin models refine schedules by simulating wear scenarios and optimizing parts procurement.

Adoption of industry 4.0 edge-analytics platforms

Edge processing moves analytics to the sensor node, eliminating latency while maintaining insight during network outages. STMicroelectronics positions its microcontrollers for condition monitoring use cases that require sub-second detection ^{[3]STMicroelectronics, "Condition Monitoring / Predictive Maintenance", STMicroelectronics, st.com}. Siemens’ SIMOCODE M-CP embeds monitoring within motor control centers via Single Pair Ethernet, trimming wiring effort and extending diagnostics to smaller motors ^{[2]Siemens AG, "Siemens Unveils Innovative Motor Management System for Industrial Switchboards" Siemens AG, press.siemens.com}. Early adopters report millisecond-level anomaly detection and bandwidth cuts of up to 50%.

Surging Asset-intensive sectors in emerging Asia

New greenfield factories across China, India, and Southeast Asia integrate predictive systems from day one, avoiding retrofit complexity. Orders for automation and digitalization at Epiroc reached record highs as regional miners prioritized productivity and safety. At IEEE SENSORS 2024, more than 680 peer-reviewed papers showcased next-generation sensors relevant to machine health . Government smart-manufacturing incentives accelerate deployment by offsetting capital costs.

Wireless IIoT sensors slashing total cost of ownership

Removing cables cuts installation expense by up to 70%. Bluetooth Low Energy and LoRaWAN protocols deliver multi-year battery life, making coverage of secondary assets economically viable SKF’s Enlight Collect IMx-1-EX provides intrinsic safety for hazardous zones while enabling predictive workflows . Honeywell’s Versatilis Experion EHM transmits over LoRaWAN to visualize trends and alarms across sprawling sites.

ESG-driven push for energy-efficient plant operations

Mandatory disclosures on greenhouse gases now cover large US filers under SEC rules and corporations operating in Europe under CSRD guidelines, forcing visibility into asset efficiency. Monitoring platforms track power consumption drift and flag degrading components, helping firms sustain energy gains. The US Better Buildings Initiative recorded 3.6 quadrillion Btu saved through data-guided efficiency, illustrating value for process industries.

Restraints Impact Analysis

Restraint	(~) % Impact on CAGR Forecast	Geographic Relevance	Impact Timeline
Retrofit cost for legacy brown-field assets	-1.30%	Global, North America, Europe	Short term (≤ 2 years)
Shortage of vibration-analysis specialists	-0.80%	Global	Medium term (2-4 years)

Source: Mordor Intelligence

Retrofit cost for legacy brown-field assets

Older facilities rarely feature sensor mounts or network backbones, so rollout involves engineering changes, safety approvals, and staged shutdowns that can stretch over 18 months. The US Marine Corps flagged conflicting legacy policies as barriers during Condition Based Maintenance Plus adoption, echoing similar struggles in civilian process plants. Wireless devices ease wiring pain yet power delivery and hazardous-area certification still raise budgets, prompting firms to phase projects by criticality.

Shortage of vibration-analysis specialists

Expert interpreters retire faster than universities replace them. Traditional signal processing mastery often takes five years, limiting user confidence in large-scale deployment. Technology vendors respond with AI modules that pre-classify anomalies; ABB and Cochl apply machine listening to automate fault diagnostics, narrowing dependence on scarce skills . Easy-to-read dashboards extend coverage to small and midsize enterprises.

Segment Analysis

By Offering: Hardware Leads as Software Adds Intelligence

Hardware claimed 45% of 2024 revenue, underscoring the indispensable role of sensors, gateways, and acquisition units in every installation. This segment benefits from steady advances in micro-electromechanical systems that boost sensitivity while lowering power draw. Siemens blended hardware with licensable analytics modules in its SIMOCODE M-CP to simplify adoption for switchboard users . Services revenue expands as manufacturers outsource round-the-clock surveillance; SKF’s USD 60 million agreement with LKAB packages vibration measurements and remote diagnostics into a multi-year contract.

Wireless IIoT sensor networks are forecast to grow at 12.4% annually, underlining customer preference for low-touch retrofits. As adoption broadens, integrated platforms convert raw streams into maintenance tickets, creating recurring SaaS income. These factors collectively preserve scale benefits for incumbents while introducing fresh margin pools in analytics subscriptions.

Machine Condition Monitoring Market — Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

By Monitoring Technique: Vibration Maintains Lead, Ultrasound Accelerates

Vibration analysis retained 34.2% share in 2024. Practitioners trust its rich fault signature library for rotating assets, and equipment makers bundle accelerometers at purchase, reinforcing network effects. Ultrasound emission is projected to expand 11.8% per year as plants value early bearing fault detection and compressed-air leak identification even in high-noise areas.

Thermography adoption rises with AI that flags thermal anomalies in cloud dashboards, aided by wearable integrations like the Teledyne FLIR and RealWear partnership. Motor current signature and oil analysis round out multi-modal suites that boost diagnostic confidence and extend reach into electrical and lubrication systems.

By Deployment: Continuous Monitoring Moves Wireless

Online systems captured 48.1% of the machine condition monitoring market size in 2024, reflecting user demand for always-available asset health reads. Plants continue to push continuous coverage onto less critical machinery but resist cabling complexity, which accelerates wireless uptake at a 12.4% CAGR. Honeywell’s Versatilis Experion EHM shows how LoRaWAN-based sensors transmit six parameter types to cloud models without control-system intrusion. NIST deployment guidance reinforces best practices in interference mitigation and cybersecurity for such architectures .

Portable instruments maintain relevance for commissioning and deep dives, forming a hybrid toolkit that balances cost and coverage. Edge processing embedded in sensor nodes now supports millisecond-scale anomaly identification before forwarding compressed insights upstream.

By End-user Industry: Oil & Gas Dominates, Food & Beverage Gains Pace

Oil and gas operations delivered 27.3% of 2024 demand because unplanned stoppages in midstream and upstream lines can cost millions per incident. Platforms derived from turbine health monitoring by Bentley Nevada underpin many deployments in this sector. Regulatory focus on methane emissions further drives real-time monitoring adoption for compressors and pumps.

Food and beverage manufacturers are forecast to grow at 10.5% CAGR, propelled by hygiene rules and rising sustainability goals. Celli Group cut equipment failures by 13% after deploying IoT sensors on beverage dispensers, showing measurable ROI. Similar drivers appear in dairy, bakery, and packaged foods where downtime erodes freshness windows.

Power, metals, mining, and chemicals continue to demand ruggedized solutions, while defense and aerospace remain specialized niches that reward high-reliability vendors who meet MIL-STD or rad-hard requirements.

Geography Analysis

North America held 32.4% of 2024 revenue, sustained by stringent safety codes and early Industry 4.0 rollouts. SEC emissions reporting and California SB 253 guide firms toward continuous efficiency measurement . Mature installed bases further encourage upgrade cycles to edge-capable sensors.

Asia-Pacific is poised for 9.9% annual growth. Smart-manufacturing subsidies in China and India defray upfront costs, while Japan’s sensor innovation hub showcases domain expertise at IEEE SENSORS 2024 . Rapid expansion of battery, semiconductor, and renewable-equipment factories embeds predictive maintenance from conception.

Europe leverages ESG frameworks to justify investment, and the Middle East aligns monitoring with oil and gas mega-projects. Latin America records emerging growth as miners digitalize conveyor fleets and hydro plants seek reliability uplift.

Competitive Landscape

The field remains moderately fragmented. Established automation majors such as SKF, Emerson Electric, and Siemens exploit their large aftermarket footprints and multiproduct bundles. Software-native entrants emphasize AI models and subscription pricing that lower entry barriers for mid-tier plants. ABB’s machine-listening collaboration with Cochl exemplifies partnership plays that accelerate algorithm refinement.

Acquisition strategy remains central. Rockwell Automation expanded its digital service line with Fiix, CUBIC, and Knowledge Lens, positioning for cross-sell into its Logix controller base. Honeywell’s AI rollouts, including Experion Operations Assistant, align with an adjacent-market penetration tactic that links process control with asset performance . White-space opportunities lie in low-cost wireless nodes for auxiliary assets, verticalized analytics for food processing, and cybersecurity-hardened solutions for space platforms.

Machine Condition Monitoring Industry Leaders

SKF AB
Emerson Electric Co. (Bently Nevada)
Rockwell Automation Inc.
ABB Ltd.
Siemens AG
*Disclaimer: Major Players sorted in no particular order

Machine Condition Monitoring Market Concentration — Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

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Recent Industry Developments

March 2025: Baker Hughes posted USD 27.8 billion 2024 revenue, funneled USD 643 million into R&D, and expanded its Industrial & Energy Technology line to accelerate low-carbon solutions.
February 2025: Rockwell Automation’s Q1 2025 orders grew 10% year over year while Annual Recurring Revenue climbed 11%, underlining traction in outcome-based subscriptions.
October 2024: Siemens released the SIMOCODE M-CP motor management system with built-in monitoring and Single Pair Ethernet connectivity, targeting chemicals and mining switchboards.
October 2024: Honeywell unveiled Experion Operations Assistant, an explainable-AI tool that guides operators through complex process events while partnering with Chevron on refining analytics.

Table of Contents for Machine Condition Monitoring Industry Report

1. INTRODUCTION

1.1 Study Assumptions & Market Definition
1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET LANDSCAPE

4.1 Market Overview
4.2 Market Drivers
- 4.2.1 Predictive-maintenance focus to cut unplanned downtime
- 4.2.2 Adoption of Industry 4.0 edge-analytics platforms
- 4.2.3 Surging asset-intensive sectors in emerging Asia
- 4.2.4 Wireless IIoT sensors slashing total cost of ownership
- 4.2.5 ESG-driven push for energy-efficient plant operations
- 4.2.6 Military & space programs requiring zero-fault tolerance (under-the-radar)
4.3 Market Restraints
- 4.3.1 Retrofit cost for legacy brown-field assets
- 4.3.2 Shortage of vibration-analysis specialists
- 4.3.3 Cyber-security concerns in always-connected systems
- 4.3.4 Rising trade barriers limiting hardware supply chains (under-the-radar)
4.4 Value / Supply-Chain Analysis
4.5 Regulatory Landscape
4.6 Technological Outlook
4.7 Porter's Five Forces
- 4.7.1 Threat of New Entrants
- 4.7.2 Bargaining Power of Buyers
- 4.7.3 Bargaining Power of Suppliers
- 4.7.4 Threat of Substitutes
- 4.7.5 Intensity of Competitive Rivalry

5. MARKET SIZE & GROWTH FORECASTS

5.1 By Offering
- 5.1.1 Hardware
- 5.1.2 Software
- 5.1.3 Services
5.2 By Monitoring Technique
- 5.2.1 Vibration Analysis
- 5.2.2 Thermography
- 5.2.3 Ultrasound Emission
- 5.2.4 Lubricating-Oil Analysis
- 5.2.5 Motor-Current Signature
- 5.2.6 Corrosion & Wear Debris
- 5.2.7 Other Techniques
5.3 By Deployment
- 5.3.1 Online/Continuous Systems
- 5.3.2 Portable/Periodic Instruments
- 5.3.3 Wireless IIoT Sensor Networks
5.4 By End-user Industry
- 5.4.1 Oil & Gas
- 5.4.2 Power Generation
- 5.4.3 Metals & Mining
- 5.4.4 Chemicals & Petrochemicals
- 5.4.5 Automotive & Transportation
- 5.4.6 Aerospace & Defense
- 5.4.7 Food & Beverage
- 5.4.8 Marine
- 5.4.9 Other Industries
5.5 By Geography
- 5.5.1 North America
- 5.5.1.1 United States
- 5.5.1.2 Canada
- 5.5.2 South America
- 5.5.2.1 Brazil
- 5.5.2.2 Argentina
- 5.5.3 Europe
- 5.5.3.1 Germany
- 5.5.3.2 United Kingdom
- 5.5.3.3 France
- 5.5.3.4 Russia
- 5.5.4 Asia
- 5.5.4.1 China
- 5.5.4.2 Japan
- 5.5.4.3 India
- 5.5.4.4 South Korea
- 5.5.5 Middle East & Africa
- 5.5.5.1 Middle East
- 5.5.5.1.1 Saudi Arabia
- 5.5.5.1.2 UAE
- 5.5.5.2 Africa
- 5.5.5.2.1 South Africa

6. COMPETITIVE LANDSCAPE

6.1 Market Concentration
6.2 Strategic Moves
6.3 Market Share Analysis
6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products & Services, and Recent Developments)
- 6.4.1 SKF AB
- 6.4.2 Emerson Electric Co. (Bently Nevada)
- 6.4.3 Rockwell Automation Inc.
- 6.4.4 ABB Ltd.
- 6.4.5 Siemens AG
- 6.4.6 Meggitt PLC
- 6.4.7 Bruel and Kjaer Vibro
- 6.4.8 Fluke Corporation
- 6.4.9 FLIR Systems Inc.
- 6.4.10 Parker Hannifin Corp. (Kittiwake)
- 6.4.11 AMETEK Inc. (Spectro Scientific)
- 6.4.12 Thermo Fisher Scientific Inc.
- 6.4.13 Bentley Nevada (Baker Hughes)
- 6.4.14 Schaeffler Group
- 6.4.15 Azima DLI
- 6.4.16 Honeywell International Inc.
- 6.4.17 National Instruments Corp.
- 6.4.18 Schneider Electric SE
- 6.4.19 Gastops Ltd.
- 6.4.20 Wilcoxon Sensing Technologies

7. MARKET OPPORTUNITIES & FUTURE OUTLOOK

7.1 White-space & Unmet-need Assessment

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Global Machine Condition Monitoring Market Report Scope

Machine condition monitoring is the capacity to examine a machine's functionality across time. This might involve factors such as efficiency because efficiency losses can signal an underlying problem. It also provides component wear and tear and effectiveness indications, including faulty part production, usage information, and upkeep statistics.

The machine condition monitoring market is segmented by type (hardware [vibration monitoring equipment, thermography equipment, lubricating oil analysis equipment, ultrasound emission monitoring, and other types], software, and services [remote monitoring services, instrumentation maintenance services, and machinery diagnostics services]), by end-user (oil and gas, power generation, process and manufacturing, aerospace and defense, automotive and transportation, and other end-user industries (marine, mining, metal, etc.)), geography (North America [United States, Canada], Europe [United Kingdom, Germany, France, Rest of Europe], Asia-Pacific [China, Japan, India, Rest of Asia Pacific], Rest of the World [Latin America, Middle East and Africa]). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Offering	Hardware
	Software
	Services
By Monitoring Technique	Vibration Analysis
	Thermography
	Ultrasound Emission
	Lubricating-Oil Analysis
	Motor-Current Signature
	Corrosion & Wear Debris
	Other Techniques
By Deployment	Online/Continuous Systems
	Portable/Periodic Instruments
	Wireless IIoT Sensor Networks
By End-user Industry	Oil & Gas
	Power Generation
	Metals & Mining
	Chemicals & Petrochemicals
	Automotive & Transportation
	Aerospace & Defense
	Food & Beverage
	Marine
	Other Industries

By Geography	North America	United States
		Canada

	South America	Brazil
		Argentina

	Europe	Germany
		United Kingdom
		France
		Russia

	Asia	China
		Japan
		India
		South Korea

	Middle East & Africa	Middle East	Saudi Arabia
			UAE

		Africa	South Africa

By Offering

Hardware

Software

Services

By Monitoring Technique

Vibration Analysis

Thermography

Ultrasound Emission

Lubricating-Oil Analysis

Motor-Current Signature

Corrosion & Wear Debris

Other Techniques

By Deployment

Online/Continuous Systems

Portable/Periodic Instruments

Wireless IIoT Sensor Networks

By End-user Industry

Oil & Gas

Power Generation

Metals & Mining

Chemicals & Petrochemicals

Automotive & Transportation

Aerospace & Defense

Food & Beverage

Marine

Other Industries

By Geography

North America	United States
	Canada
South America	Brazil
	Argentina
Europe	Germany
	United Kingdom
	France
	Russia
Asia	China
	Japan
	India
	South Korea

Middle East & Africa	Middle East	Saudi Arabia
		UAE

	Africa	South Africa

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Key Questions Answered in the Report

How big is the Machine Condition Monitoring Market?

The Machine Condition Monitoring Market size is expected to reach USD 1.37 billion in 2025 and grow at a CAGR of 9.65% to reach USD 2.17 billion by 2030.

What is the current value of the machine condition monitoring market?

The machine condition monitoring market is valued at USD 1.4 billion in 2025.

How fast is the market expected to grow?

It is forecast to register a 9.6% CAGR, reaching USD 2.2 billion by 2030.

Which region holds the largest revenue share?

North America leads with 32.4% of 2024 revenue.

Which deployment model is gaining the most traction?

Wireless IIoT sensor networks show the strongest growth with a 12.4% CAGR.

Why is vibration analysis still dominant?

Decades of proven methodologies and extensive fault libraries keep vibration analysis at 34.2% market share in 2024, especially for rotating equipment monitoring.