Artificial Intelligence
Global Machine Condition Monitoring Equipment Market to Reach $5.1 Billion by 2030
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New York, March 09, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Machine Condition Monitoring Equipment Industry” – https://www.reportlinker.com/p04484176/?utm_source=GNW
Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Global Machine Condition Monitoring Equipment Market to Reach $5.1 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Machine Condition Monitoring Equipment estimated at US$2.7 Billion in the year 2022, is projected to reach a revised size of US$5.1 Billion by 2030, growing at aCAGR of 8.2% over the period 2022-2030. Vibration Monitoring Equipment, one of the segments analyzed in the report, is projected to record 8.4% CAGR and reach US$2.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Thermography Equipment segment is readjusted to a revised 8.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $731.8 Million, While China is Forecast to Grow at 12.7% CAGR
The Machine Condition Monitoring Equipment market in the U.S. is estimated at US$731.8 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2030 trailing a CAGR of 12.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 7.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.
Select Competitors (Total 103 Featured)
– ALS Limited
– Azima DLI LLC
– Brüel & Kjær Vibro
– ClampOn AS
– Cosasco
– Crystal Instruments
– CTRL Systems, Inc.
– Data Physics Corporation
– Emerson Electric Co.,
– FLIR Systems, Inc.
– Fluke Corporation
– General Electric
– Honeywell Process Solutions
– ITT Corporation
– Meggitt PLC
– National Instruments Corporation
– Parker Hannifin Corp.
– Parker Kittiwake
– PCB Piezotronics, Inc.
– Rockwell Automation, Inc.
– Schaeffler Technologies AG & Co. KG
– Shinkawa Electric Co., Ltd.
– SKF
– SPM Instrument AB
Read the full report: https://www.reportlinker.com/p04484176/?utm_source=GNW
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Condition Based Maintenance Comes Out of the Shadows as Smart
Management of Assets Spirals into the Spotlight
Recent Market Activity
Market Overview
From Corrective to Prescriptive, Machine Condition Monitoring
Makes Its Evolutionary Turn Towards Smart Asset Management
Artificial Intelligence in Machine Condition Monitoring Gains
Ground
Continued Recovery in Global GDP & Manufacturing PMI Promises
Stronger Growth for the Machine Condition Monitoring Market
Ubiquity of Rotating Machinery in Industrial Plants Sustains
the Dominance of Vibration Monitoring Systems
Even as the Oil Industry Regains Balance at the Back of Oil
Price Rise & Supply Increases, Volatility Will Continue to
Shape Strategy
Skyrocketing Oil Exploration Costs
Business Case for Operational Excellence Stands Exemplified
Outsourced Condition Monitoring Services to Gain Momentum
Growth of Precision Mechanics & the Ensuing Increase in the Use
of Machine Tools to Benefit Condition Monitoring of Machine
Tools
Market Outlook
Machine Condition Monitoring Equipment – Global Key Competitors
Percentage Market Share in 2022 (E)
Competitive Market Presence – Strong/Active/Niche/Trivial for
Players Worldwide in 2022 (E)
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
ALS Limited (Australia)
Azima DLI LLC (USA)
Brüel & Kjær Vibro GmbH (Denmark)
ClampOn AS (Norway)
Cosasco (USA)
CRYSTAL INSTRUMENTS (USA)
CTRL Systems, Inc. (USA)
Data Physics Corporation (USA)
Emerson Electric Co. (USA)
FLIR Systems, Inc. (USA)
Fluke Corporation (USA)
General Electric (USA)
Honeywell Process Solutions (USA)
ITT Corporation (USA)
Meggitt PLC (UK)
National Instruments Corporation (USA)
Parker Hannifin Corp. (USA)
Parker Kittiwake (UK)
PCB Piezotronics, Inc. (USA)
Rockwell Automation, Inc. (USA)
Schaeffler Technologies AG & Co. KG (Germany)
Shinkawa Electric Co., Ltd. (Japan)
SKF (Sweden)
SPM Instrument AB (Sweden)
3. MARKET TRENDS & DRIVERS
Emergence of Industry 4.0 & IIoT as a Novel Support System for
Intelligent Maintenance Drives Opportunities for Condition
Monitoring
Growing Energy Consumption & Production Drives the Need for
Condition Monitoring in Power Plants
Insatiable Need for Energy
Changing Power Generation Dynamics & Rise of Peaking Power Plants
Technology Innovations to Support Long-Term Growth in the Market
Wireless Sensor Networks, Sensor Fusion & Multi-Sensor
Monitoring: The Three Major Technology Buzzwords
“Maintenance from a Distance”: The New Buzz Word for Prognostic
Machine Health Monitoring
The Rise of Cloud Based Business Models Sparks a Revolution in
Condition Monitoring
Integration of Condition Monitoring With Asset Management:
A Key Strategy Aimed At Productivity Gains
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Geographic Region –
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa Markets – Independent Analysis of Annual
Sales in US$ Million for Years 2022 through 2030 and % CAGR
Table 2: World Historic Review for Machine Condition Monitoring
Equipment by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific, Latin America, Middle East and Africa
Markets – Independent Analysis of Annual Sales in US$ Million
for Years 2014 through 2021 and % CAGR
Table 3: World 16-Year Perspective for Machine Condition
Monitoring Equipment by Geographic Region – Percentage
Breakdown of Value Sales for USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets for
Years 2014, 2023 & 2030
Table 4: World Recent Past, Current & Future Analysis for
Vibration Monitoring Equipment by Geographic Region – USA,
Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa Markets – Independent Analysis of Annual
Sales in US$ Million for Years 2022 through 2030 and % CAGR
Table 5: World Historic Review for Vibration Monitoring
Equipment by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific, Latin America, Middle East and Africa
Markets – Independent Analysis of Annual Sales in US$ Million
for Years 2014 through 2021 and % CAGR
Table 6: World 16-Year Perspective for Vibration Monitoring
Equipment by Geographic Region – Percentage Breakdown of Value
Sales for USA, Canada, Japan, China, Europe, Asia-Pacific,
Latin America, Middle East and Africa for Years 2014, 2023 &
2030
Table 7: World Recent Past, Current & Future Analysis for
Thermography Equipment by Geographic Region – USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America, Middle East
and Africa Markets – Independent Analysis of Annual Sales in
US$ Million for Years 2022 through 2030 and % CAGR
Table 8: World Historic Review for Thermography Equipment by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2014 through 2021 and % CAGR
Table 9: World 16-Year Perspective for Thermography Equipment
by Geographic Region – Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa for Years 2014, 2023 & 2030
Table 10: World Recent Past, Current & Future Analysis for
Lubricating Oil Analysis Equipment by Geographic Region – USA,
Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa Markets – Independent Analysis of Annual
Sales in US$ Million for Years 2022 through 2030 and % CAGR
Table 11: World Historic Review for Lubricating Oil Analysis
Equipment by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific, Latin America, Middle East and Africa
Markets – Independent Analysis of Annual Sales in US$ Million
for Years 2014 through 2021 and % CAGR
Table 12: World 16-Year Perspective for Lubricating Oil
Analysis Equipment by Geographic Region – Percentage Breakdown
of Value Sales for USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa for Years
2014, 2023 & 2030
Table 13: World Recent Past, Current & Future Analysis for
Other Segments by Geographic Region – USA, Canada, Japan,
China, Europe, Asia-Pacific, Latin America, Middle East and
Africa Markets – Independent Analysis of Annual Sales in US$
Million for Years 2022 through 2030 and % CAGR
Table 14: World Historic Review for Other Segments by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2014 through 2021 and % CAGR
Table 15: World 16-Year Perspective for Other Segments by
Geographic Region – Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa for Years 2014, 2023 & 2030
Table 16: World Machine Condition Monitoring Equipment Market
Analysis of Annual Sales in US$ Million for Years 2014 through
2030
III. MARKET ANALYSIS
UNITED STATES
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in the United
States for 2023 (E)
Table 17: USA Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 18: USA Historic Review for Machine Condition Monitoring
Equipment by Segment – Vibration Monitoring Equipment,
Thermography Equipment, Lubricating Oil Analysis Equipment and
Other Segments Markets – Independent Analysis of Annual Sales
in US$ Million for Years 2014 through 2021 and % CAGR
Table 19: USA 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
CANADA
Table 20: Canada Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 21: Canada Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 22: Canada 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
JAPAN
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Japan for
2023 (E)
Table 23: Japan Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 24: Japan Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 25: Japan 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
CHINA
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in China for
2023 (E)
Table 26: China Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 27: China Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 28: China 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
EUROPE
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Europe for
2023 (E)
Table 29: Europe Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Geographic Region –
France, Germany, Italy, UK, Spain, Russia and Rest of Europe
Markets – Independent Analysis of Annual Sales in US$ Million
for Years 2022 through 2030 and % CAGR
Table 30: Europe Historic Review for Machine Condition
Monitoring Equipment by Geographic Region – France, Germany,
Italy, UK, Spain, Russia and Rest of Europe Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2014 through 2021 and % CAGR
Table 31: Europe 16-Year Perspective for Machine Condition
Monitoring Equipment by Geographic Region – Percentage
Breakdown of Value Sales for France, Germany, Italy, UK, Spain,
Russia and Rest of Europe Markets for Years 2014, 2023 & 2030
Table 32: Europe Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 33: Europe Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 34: Europe 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
FRANCE
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in France for
2023 (E)
Table 35: France Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 36: France Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 37: France 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
GERMANY
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Germany for
2023 (E)
Table 38: Germany Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 39: Germany Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 40: Germany 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
ITALY
Table 41: Italy Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 42: Italy Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 43: Italy 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
UNITED KINGDOM
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in the United
Kingdom for 2023 (E)
Table 44: UK Recent Past, Current & Future Analysis for Machine
Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 45: UK Historic Review for Machine Condition Monitoring
Equipment by Segment – Vibration Monitoring Equipment,
Thermography Equipment, Lubricating Oil Analysis Equipment and
Other Segments Markets – Independent Analysis of Annual Sales
in US$ Million for Years 2014 through 2021 and % CAGR
Table 46: UK 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
SPAIN
Table 47: Spain Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 48: Spain Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 49: Spain 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
RUSSIA
Table 50: Russia Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 51: Russia Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 52: Russia 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
REST OF EUROPE
Table 53: Rest of Europe Recent Past, Current & Future Analysis
for Machine Condition Monitoring Equipment by Segment –
Vibration Monitoring Equipment, Thermography Equipment,
Lubricating Oil Analysis Equipment and Other Segments –
Independent Analysis of Annual Sales in US$ Million for the
Years 2022 through 2030 and % CAGR
Table 54: Rest of Europe Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 55: Rest of Europe 16-Year Perspective for Machine
Condition Monitoring Equipment by Segment – Percentage
Breakdown of Value Sales for Vibration Monitoring Equipment,
Thermography Equipment, Lubricating Oil Analysis Equipment and
Other Segments for the Years 2014, 2023 & 2030
ASIA-PACIFIC
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Asia-Pacific
for 2023 (E)
Table 56: Asia-Pacific Recent Past, Current & Future Analysis
for Machine Condition Monitoring Equipment by Geographic Region –
Australia, India, South Korea and Rest of Asia-Pacific
Markets – Independent Analysis of Annual Sales in US$ Million
for Years 2022 through 2030 and % CAGR
Table 57: Asia-Pacific Historic Review for Machine Condition
Monitoring Equipment by Geographic Region – Australia, India,
South Korea and Rest of Asia-Pacific Markets – Independent
Analysis of Annual Sales in US$ Million for Years 2014 through
2021 and % CAGR
Table 58: Asia-Pacific 16-Year Perspective for Machine
Condition Monitoring Equipment by Geographic Region –
Percentage Breakdown of Value Sales for Australia, India, South
Korea and Rest of Asia-Pacific Markets for Years 2014, 2023 &
2030
Table 59: Asia-Pacific Recent Past, Current & Future Analysis
for Machine Condition Monitoring Equipment by Segment –
Vibration Monitoring Equipment, Thermography Equipment,
Lubricating Oil Analysis Equipment and Other Segments –
Independent Analysis of Annual Sales in US$ Million for the
Years 2022 through 2030 and % CAGR
Table 60: Asia-Pacific Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 61: Asia-Pacific 16-Year Perspective for Machine
Condition Monitoring Equipment by Segment – Percentage
Breakdown of Value Sales for Vibration Monitoring Equipment,
Thermography Equipment, Lubricating Oil Analysis Equipment and
Other Segments for the Years 2014, 2023 & 2030
AUSTRALIA
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Australia for
2023 (E)
Table 62: Australia Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 63: Australia Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 64: Australia 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
INDIA
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in India for
2023 (E)
Table 65: India Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 66: India Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 67: India 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
SOUTH KOREA
Table 68: South Korea Recent Past, Current & Future Analysis
for Machine Condition Monitoring Equipment by Segment –
Vibration Monitoring Equipment, Thermography Equipment,
Lubricating Oil Analysis Equipment and Other Segments –
Independent Analysis of Annual Sales in US$ Million for the
Years 2022 through 2030 and % CAGR
Table 69: South Korea Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 70: South Korea 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
REST OF ASIA-PACIFIC
Table 71: Rest of Asia-Pacific Recent Past, Current & Future
Analysis for Machine Condition Monitoring Equipment by Segment –
Vibration Monitoring Equipment, Thermography Equipment,
Lubricating Oil Analysis Equipment and Other Segments –
Independent Analysis of Annual Sales in US$ Million for the
Years 2022 through 2030 and % CAGR
Table 72: Rest of Asia-Pacific Historic Review for Machine
Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments Markets – Independent
Analysis of Annual Sales in US$ Million for Years 2014 through
2021 and % CAGR
Table 73: Rest of Asia-Pacific 16-Year Perspective for Machine
Condition Monitoring Equipment by Segment – Percentage
Breakdown of Value Sales for Vibration Monitoring Equipment,
Thermography Equipment, Lubricating Oil Analysis Equipment and
Other Segments for the Years 2014, 2023 & 2030
LATIN AMERICA
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Latin America
for 2023 (E)
Table 74: Latin America Recent Past, Current & Future Analysis
for Machine Condition Monitoring Equipment by Geographic Region –
Argentina, Brazil, Mexico and Rest of Latin America Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2022 through 2030 and % CAGR
Table 75: Latin America Historic Review for Machine Condition
Monitoring Equipment by Geographic Region – Argentina, Brazil,
Mexico and Rest of Latin America Markets – Independent Analysis
of Annual Sales in US$ Million for Years 2014 through 2021 and
% CAGR
Table 76: Latin America 16-Year Perspective for Machine
Condition Monitoring Equipment by Geographic Region –
Percentage Breakdown of Value Sales for Argentina, Brazil,
Mexico and Rest of Latin America Markets for Years 2014, 2023 &
2030
Table 77: Latin America Recent Past, Current & Future Analysis
for Machine Condition Monitoring Equipment by Segment –
Vibration Monitoring Equipment, Thermography Equipment,
Lubricating Oil Analysis Equipment and Other Segments –
Independent Analysis of Annual Sales in US$ Million for the
Years 2022 through 2030 and % CAGR
Table 78: Latin America Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 79: Latin America 16-Year Perspective for Machine
Condition Monitoring Equipment by Segment – Percentage
Breakdown of Value Sales for Vibration Monitoring Equipment,
Thermography Equipment, Lubricating Oil Analysis Equipment and
Other Segments for the Years 2014, 2023 & 2030
ARGENTINA
Table 80: Argentina Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 81: Argentina Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 82: Argentina 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
BRAZIL
Table 83: Brazil Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 84: Brazil Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 85: Brazil 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
MEXICO
Table 86: Mexico Recent Past, Current & Future Analysis for
Machine Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments – Independent Analysis of
Annual Sales in US$ Million for the Years 2022 through 2030 and
% CAGR
Table 87: Mexico Historic Review for Machine Condition
Monitoring Equipment by Segment – Vibration Monitoring
Equipment, Thermography Equipment, Lubricating Oil Analysis
Equipment and Other Segments Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2014 through 2021 and %
CAGR
Table 88: Mexico 16-Year Perspective for Machine Condition
Monitoring Equipment by Segment – Percentage Breakdown of Value
Sales for Vibration Monitoring Equipment, Thermography
Equipment, Lubricating Oil Analysis Equipment and Other
Segments for the Years 2014, 2023 & 2030
REST OF LATIN AMERICA
Table 89: Rest of Latin America Recent Past, Current & Future
Analysis for Machine Condition Monitoring Equipment by Segment –
Vibration Monitoring Equipment, Thermography Equipment,
Lubricating Oil Analysis Equipment and Other Segments –
Independent Analysis of Annual Sales in US$ Million for the
Years 2022 through 2030 and % CAGR
Table 90: Rest of Latin America Historic Review for Machine
Condition Monitoring Equipment by Segment – Vibration
Monitoring Equipment, Thermography Equipment, Lubricating Oil
Analysis Equipment and Other Segments Markets – Independent
Analysis of Annual Sales in US$ Million for Years 2014 through
2021 and % CAGR
Table 91: Rest of Latin America 16-Year Perspective for Machine
Condition Monitoring Equipment by Segment – Percentage
Breakdown of Value Sales for Vibration Monitoring Equipment,
Thermography Equipment, Lubricating Oil Analysis Equipment and
Other Segments for the Years 2014, 2023 & 2030
MIDDLE EAST
Machine Condition Monitoring Equipment Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Middle East
for 2023 (E)
Table 92: Middle East Recent Past, Current & Future Analysis
for Machine Condition Monitoring Equipment by Geographic Region –
Iran, Israel, Saudi Arabia, UAE and Rest of Middle East
Markets – Independent Analysis of Annual Sales in US$ Million
for Years 2022 through 2030 and % CAGR
Table 93: Middle East Historic Review for Machine Condition
Monitoring Equipment by Geographic Region – Iran, Israel, Saudi
Arabia, UAE and Rest of Middle East Markets – Independent
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Artificial Intelligence
AI-exposed sectors experience productivity surge as AI jobs climb and see up to 25% wage premium: PwC 2024 Global AI Jobs Barometer
Sectors more exposed to AI are experiencing almost fivefold (4.8x) greater labour productivity growth (‘AI exposed’ means AI can readily be used for some tasks)Postings for AI jobs are growing 3.5x faster than for all jobs. For every AI job posting in 2012, there are now seven job postingsJobs that require AI skills carry up to a 25% wage premium in some marketsAI-driven spike in productivity could allow many nations to break out of persistent low productivity growth, generating economic development, higher wages, and enhanced living standardsSkills sought by employers are changing at a 25% higher rate in occupations most exposed to AI. To stay relevant in these occupations, workers will need to demonstrate or acquire new skillsLONDON, May 21, 2024 /PRNewswire/ — Sectors more exposed to AI are experiencing almost five times (4.8x) higher growth in labour productivity, according to PwC’s inaugural 2024 Global AI Jobs Barometer, published today.
The report, which analysed over half a billion job ads from 15 countries, suggests that AI could allow many nations to break out of persistent low productivity growth, generating economic development, higher wages, and enhanced living standards.
The report finds that for every job posting requiring AI specialist skills (i.e., machine learning) in 2012, there are now seven job postings.[1] PwC research also finds that growth in jobs demanding AI skills has outpaced all jobs since 2016, with postings for jobs requiring AI skills growing 3.5x faster than for all jobs.
The findings also highlight economic opportunity for labour forces: jobs that require AI skills carry up to a 25% average wage premium in some markets.
Skills sought by employers are changing much faster in occupations more exposed to AI, with old skills disappearing – and new skills appearing – in job ads at a 25% higher rate than in occupations less exposed to AI. To stay relevant in these occupations, workers will need to demonstrate or acquire new skills.
As questions abound around the technology’s impact on everything from job security to long-term business viability, the findings highlight positive news, even for workers in sectors most exposed to AI. The findings also reflect a good news story for workers and the global economy in which AI-enabled workers are more productive and more valuable, opening the door to rising prosperity for workers and nations.
Carol Stubbings, Global Markets and Tax & Legal Services (TLS) Leader, PwC UK, says:
“AI is transforming the labour market globally and presents good news for a global economy hindered by deep economic challenges and concerns around long-term business viability. For many economies experiencing labour shortages and low productivity growth, the findings highlight optimism around AI with the technology representing an opportunity for economic development, job-creation, and the creation of new industries entirely. However, the findings show that workers will need to build new skills and organisations will need to invest in their AI strategies and people if they are to turbocharge their development and ensure they are fit for the AI age.”
Near fivefold productivity growth in sectors more exposed to AI
The findings paint a positive picture of the impact of AI on labour markets and productivity. Sectors most exposed to AI – financial services, information technology, and professional services – are experiencing nearly five times higher labour productivity growth than sectors less exposed to AI.[2]
Jobs that require AI skills carry significant wage premiums
Across the five major labour markets for which wage data is available (US, UK, Canada, Australia and Singapore), jobs that require AI specialist skills carry a significant wage premium (up to 25% on average in the US), underlining the value of these skills to companies. Across industries (in the US for example), this can range from 18% for accountants, 33% for financial analysts, 43% for sales and marketing managers, to 49% for lawyers. While the wage premium differs by market, overwhelmingly this is higher in all markets analysed.
AI penetration is accelerating, particularly in knowledge work sectors
The study finds that knowledge work sectors are seeing the most rapid growth in the share of roles requiring AI skills. This includes financial services (2.8x higher share of jobs requiring AI skills vs other sectors), professional services (3x higher), and information & communication (5x higher).[3]
No going back to yesterday’s jobs markets: the skills building imperative
Companies, workers, and policymakers share responsibility for helping workers build the skills to succeed in a fast-changing jobs market. Skills demanded by employers in occupations more exposed to AI are changing at a 25% higher rate than in less exposed occupations. 69% of CEOs expect AI will require new skills from their workforce, rising to 87% of CEOs who have already deployed AI, according to PwC’s 27th Annual Global CEO Survey 2024.
Pete Brown, Global Workforce Leader, PwC UK, adds:
“Businesses and governments around the world will need to ensure they are adequately investing in the skills required for both their people and organisations if they are to thrive in a global economy and labour market being transformed by AI. Equally, there is tremendous opportunity for people, organisations, and economies with expertise in new and emerging technologies such as AI. Ensuring a skills-first approach to recruitment as well as continued investment in workforce upskilling is imperative as no industry or market will remain immune to the impact of AI’s technological and economic transformation.”
Scott Likens, Global AI and Innovation Technology Leader, PwC US, concluded:
“AI provides much more than efficiency gains. AI offers fundamentally new ways of creating value. In our work with clients, we see companies using AI to amplify the value their people can deliver. We don’t have enough software developers, doctors, or scientists to create all the code, healthcare, and scientific breakthroughs the world needs. There is a nearly limitless demand for many things if we can improve our ability to deliver them – and limitless opportunity for organisations and individuals that invest in learning and applying the technology.”
Notes to Editors:
About the PwC 2024 Global AI Jobs Barometer
PwC’s new Global AI Jobs Barometer uses half a billion job ads from 15 countries to examine AI’s impact on jobs, skills, wages, and productivity. Analysing data from the past decade and across a large number of sectors, the report provides insight on AI job penetration, salary premiums, vacancy rates and more. The report will be presented at the VivaTech Summit in Paris by PwC global leaders.
About PwC
© 2024 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see http://www.pwc.com/structure for further details.
[1] Refers to six of the fifteen countries analysed: US, UK, Singapore, Australia, Canada and New Zealand.[2] Due to the availability of OECD data, PwC analysis focused on just these six sectors profiled for the period 2018-2022 (2023 data has not yet been released).[3] Other sectors include: Agriculture, Mining, Power, Water, Retail Trade, Transportation, Accomodation, Real Estate, Administrative, Arts and Entertainment, Household Activities, Construction, Manufacturing, Education and Social Activities and ExtraCurricular Activities.
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Artificial Intelligence
Loyalty Juggernaut Receives US Patent for Innovative Technology Enabling Individualized Experiences at Scale
3rd Patent Award Adds to Growing IP Portfolio and Reinforces Commitment to Innovation
CHICAGO, May 20, 2024 /PRNewswire/ — CRMC Show – Loyalty Juggernaut, Inc. (LJI), the loyalty industry’s first cloud-native technology platform for Loyalty Programs, Loyalty Ecosystems, and Digital Marketing, today announced at CRMC that the United States Patent and Trademark Office has awarded a patent (#11978082) for LJI’s groundbreaking use of AI. This patented technology enables brands to deliver individualized offers to program members at scale.
“This transformative feature allows a single loyalty campaign to be personalized and tailored across an entire member base, effortlessly achieving what we call ‘mass individualization,’ which is the stated mission and #1 priority of loyalty programs globally,” said Shyam Shah, CEO and Co-Founder of Loyalty Juggernaut. “This patent marks a significant milestone for us and reinforces our vision of how loyalty programs engage customers by delivering experiences that are 1:1 personalized.”
This marks the third patent for LJI, making their GRAVTY® platform the only loyalty technology globally with patents for three essential capabilities required to future-proof today’s loyalty programs and ecosystems. The other two patents are for:
1.GRAVTY Visual Rules (GVR): The only patented “no-code” rules engine in the loyalty technology industry, empowering loyalty professionals by combining extreme sophistication with extraordinary simplicity (watch GVR in action here).
2. Multi-dimensional Behavior (1st party data) Tracking: This feature is particularly significant in today’s age of cookie-less consumers, as the reliance on high-quality first-party data grows in driving individualized customer experiences and maximizing the effectiveness of digital marketing and data-driven initiatives.
“Loyalty marketers are always looking for ways to engage customers 1:1 at scale. This innovation is groundbreaking in its use of AI to drive mass personalization, the holy grail of loyalty programs,” said Bill Hanifin, Chief Executive Officer, Wise Marketer Group.
Media Contact: [email protected]
About Loyalty Juggernaut
Headquartered in Silicon Valley, Loyalty Juggernaut, Inc. is the next-gen customer engagement and loyalty solutions enterprise helping brands transform their loyalty programs into data-led businesses to maximize customer value and compete at scale. LJI’s GRAVTY® platform powers over 40 loyalty ecosystems globally, involving 4,000+ participating brands across 12 industries including Retail, CPG, Hospitality, Airline, BFSI, Telco, and multi-brand diversified business conglomerates. Customers include Majid Al Futtaim, Liverpool, Global Hotel Alliance, Deutsche Telekom, Viva Aerobus.
#loyaltymarketing #loyaltyprograms #customerengagement #CX #individualization #personalization
Follow us on LinkedIn. More at www.lji.io
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Artificial Intelligence
Vantiva Powers New Vodafone Fiber Router and Wi-Fi 6 Mesh Extender to Enhance In-Home Broadband Experience
CPE leverages Vantiva’s Wi-Fi antenna expertise to connect more than 100 smart devices at ultra-high speeds
PARIS, May 20, 2024 /PRNewswire/ — Vantiva (Euronext Paris: VANTI), a global technology leader enabling Network Service Providers (NSPs) to connect consumers around the world, today announced that it has strengthened its longstanding partnership with Vodafone UK, the largest full fiber provider in the UK, with the introduction of the Wi-Fi 6 enabled Power Hub router and Super Wi-Fi 6 Booster. The customer premises equipment (CPE) leverages Vantiva’s Wi-Fi antenna expertise to offer intelligent Wi-Fi auto-optimization that automatically provides the fastest connectivity across all devices. The router and booster are designed to cost-effectively deliver a superior whole-home Wi-Fi experience to end-users with the ability to seamlessly connect more than 100 smart devices at speeds up to 910 Mbps.
“The introduction of the Power Hub router and Super Wi-Fi 6 Booster are the latest examples Vodafone UK’s continued leadership in bringing advanced connectivity solutions to its customers,” said Mercedes Pastor, Senior Vice-President of the Customer Unit, Eurasia. “This is a step forward in our long-time partnership delivering cutting edge solutions in this market. The outstanding Wi-Fi performance leverages all of Vantiva’s expertise from antenna design to unique testing environments to offer the best in-home wireless experience.”
Vodafone UK’s new Power Hub router is built for fiber-to-the-home network configuration and is easily adaptable for current and future in-home connectivity demands. The Super Wi-Fi 6 Booster works seamlessly with the Power Hub to give reliable coverage throughout the home and is compatible with both existing and previous versions of Vodafone gateways. The extender’s mesh Wi-Fi capability adapts the connectivity to give customers comprehensive Wi-Fi coverage.
As part of Vantiva’s commitment to developing eco-friendly products with low-carbon intensity, the device housing for these products was made from 95% recycled plastic. The packaging was designed using 85% recycled paper, printed with soy ink and uses no plastics.
Vantiva and Vodafone UK have been collaboratively bringing innovative solutions to market in multiple product platforms since 2018 and in fiber since 2022, when the two organizations introduced the first Wi-Fi 6E gateway in the UK, bringing high speed connectivity to homes across the country.
The Vodafone Power Hub Wi-Fi 6 router and Super Wi-Fi 6 Booster are the latest strategic milestones in Vantiva’s ongoing commitment to providing open and innovative technologies for NSPs and Pay TV operators. Vantiva’s goal is to bring seamless connectivity and premium entertainment experiences to consumers by creating best-in-class CPE and partnering with the most innovative companies in the connected home ecosystem.
Contact: Vantiva Press RelationsThatcher+Co. for [email protected]
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