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The LAMEA Equipment Monitoring Market size would witness market growth of 9.4% CAGR during the forecast period (2018-2024). The on-premise monitoring solutions allow full control of systems and data, which demands additional cost on hardware, software, and resources employed for maintenance. On-premise deployment model supports collection of accurate data in real time, and also allows necessary lead time to resolve potential faults. Online equipment monitoring is an advanced monitoring process providing real-time data to plant operators. Online equipment monitoring systems are widely used in industries where production is maintained round the clock.
Based on Monitoring Process, the market is segmented into Online Equipment Monitoring and PorTABLE Equipment Monitoring. Based on Monitoring Type, the market is segmented into Vibration Monitoring, Thermal Monitoring, Noise Monitoring, Lubrication Monitoring, GPS Tracking, Corrosion Monitoring, Alarm Monitoring, and Others. Based on Industry Vertical, the market is segmented into Oil & Gas, Chemicals, Automotive, Aerospace & Defense, Food & Beverages, Power Generation, Metals & Mining, Marine, and Others. Based on Countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA. The market research report covers the analysis of key stake holders of the market.
Key companies profiled in the report include Emerson Electric Co., General Electric (GE), Honeywell International, Inc., National Instruments Corporation, Parker-Hannifin, Rockwell Automation, Siemens AG, Yokogawa Electric Corporation, SKF (Svenska Kullagerfabriken AB) and Pruftechnik Dieter Busch.