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The North America Equipment Monitoring Market size would witness market growth of 6.1% CAGR during the forecast period (2018-2024). North America would be the leading region during the forecast period. Optimization of asset utilization, stringent norms pertaining to workplace and personal safety, and growing awareness about the quality in oil & gas, chemicals, and food & beverages industries are contributing to the growth of the equipment monitoring market in North America. Additionally, implementation of plant asset management techniques and the presence of major market players herein further add to the adoption of equipment monitoring systems in North America.
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 U.S, Canada, Mexico, and Rest of North America. 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.