Machine Condition Monitoring Market Size, Share and Industry Growth
The Machine Condition Monitoring Market is anticipated to see significant growth, with its valuation expected to increase from USD 3.7 billion in 2024 to approximately USD 7.0 billion by 2029, reflecting a CAGR of 13.5% during this period. This technology utilizes advanced systems to monitor machinery health and performance in real-time, providing essential data to predict and prevent equipment failures. It is extensively used in industries such as manufacturing, oil and gas, power generation, aerospace, and automotive to improve operational efficiency, reduce downtime, and extend machinery lifespan.