The global motor monitoring market is projected to reach USD 3.1 billion by 2027, registering a CAGR of 8.3% over the forecast period, according to a new study by Grand View Research, Inc. A significant factor driving this growth is the increasing recognition of energy costs as a major part of the operational expenditures for any facility, with motors typically accounting for a substantial portion of those expenses. Monitoring motor performance allows businesses to optimize motor life, enhance reliability, and reduce overall operating costs, making it a key investment for improving efficiency.

Additionally, using advanced monitoring systems operated by highly trained personnel helps facilities manage downtime, optimize plant operations, and quickly identify malfunctioning equipment. By identifying potential issues early, businesses can avoid unexpected failures and costly downtime. This combination of cost-saving and operational benefits is expected to significantly propel market growth over the forecast period.

Motor monitoring is the process of collecting, sorting, and analyzing real-time data using a combination of detectors, sensors, diagnostic software, and similar tools. This technology finds application across several key industry verticals, including oil & gas, power generation, aerospace & defense, automotive, and others. Traditional manual monitoring methods are not sufficient, as they can lead to unplanned outages, equipment failures, and financial losses. Motor monitoring systems address these issues by detecting undesirable changes in motor performance at an early stage, which can then be analyzed and rectified, ultimately improving overall productivity.

The motor monitoring market is influenced by several factors, including the growing importance of predictive maintenance to prevent equipment failures, the rising demand to reduce revenue losses due to motor faults, and the increasing adoption of wireless technologies in various sectors, such as manufacturing. Additionally, the rise of cloud computing platforms is expected to present significant growth opportunities for the market in the coming years.

Curious about the Motor Monitoring Market? Download your FREE sample copy now and get a sneak peek into the latest insights and trends. 

Motor Monitoring Market Report Highlights

1. Market Drivers:

o The motor monitoring market is primarily driven by the development of advanced motor monitoring sensors, significant investments in developing countries, and technological advancements in AI and IoT. These factors contribute to the ability to monitor motors more accurately, predict failures before they occur, and automate maintenance schedules, which are increasingly crucial for maintaining operational efficiency.

2. On-Premise Deployment Segment:

o The on-premise deployment segment is expected to be a leader in the market. On-premise systems offer enhanced security and enable real-time data collection with enough lead time to resolve potential faults before they lead to failures. This allows companies to maintain operational continuity and prevent costly unplanned downtimes, making it a preferred solution for industries where reliability is critical.

3. Online Monitoring Process:

o The online monitoring process is expected to be the largest and fastest-growing segment between 2020 and 2027. Online monitoring systems provide more detailed and continuous monitoring and analysis compared to traditional portable monitoring systems. They allow for continuous tracking of motor health and performance, offering more accurate and up-to-date insights, which are essential for improving long-term motor reliability and reducing unplanned outages.

4. Automotive Industry:

o The automotive industry is under constant pressure to improve performance while remaining cost-effective and competitive. As a result, this sector is anticipated to witness the fastest CAGR over the forecast period. The automotive industry’s reliance on high-performing, efficient motors for manufacturing processes, coupled with the need to optimize motor health to reduce maintenance costs, is expected to drive significant demand for motor monitoring systems.

5. Asia Pacific Growth:

o The Asia Pacific region is projected to register the fastest CAGR from 2020 to 2027. This growth is driven by continuous business expansions and infrastructure development in the region, particularly in countries such as China and India. As industries in Asia Pacific grow, the need for improved motor performance, reduced downtime, and predictive maintenance will increase, thereby driving the demand for motor monitoring systems.

6. North America Market Growth:

o In North America, the demand for effective machine maintenance scheduling and the ability to predict equipment failures in industries like oil & gas and manufacturing are key drivers of market growth. As the region continues to focus on optimizing operational efficiency and reducing the impact of unexpected downtime, the adoption of motor monitoring systems is expected to increase, supporting further market expansion.

Motor Monitoring Market Segmentation

Grand View Research has segmented the global motor monitoring market on the basis of offerings, monitoring process, deployment, end use, and region:

Motor Monitoring Offerings Outlook (Revenue, USD Million, 2016 - 2027)

• Software

• Hardware

Motor Monitoring Process Outlook (Revenue, USD Million, 2016 - 2027)

• Portable

• Online

Motor Monitoring Deployment Outlook (Revenue, USD Million, 2016 - 2027)

• On-premise

• Cloud

Motor Monitoring End-Use Outlook (Revenue, USD Million, 2016 - 2027)

• Oil & Gas

• Automotive & Transportation

• Power Generation

• Metals and Mining

• Aerospace and Defense

• Others

Motor Monitoring Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America

o U.S.

o Canada

• Europe

o U.K.

o Germany

o France

• Asia Pacific

o China

o India

o Japan

• Latin America

o Brazil

o Mexico

• Middle East & Africa

List of Key Players of Motor Monitoring Market

• ABB Group

• Eaton Corp.

• Emerson Electric Co.

• General Electric Co.

• Honeywell International, Inc.

• KCF Technologies

• Mitsubishi Electric Corp.

• National Instruments

• Rockwell Automation, Inc.

• Schneider Electric

• Siemens AG

• AB SKF

• Weg Group

Order a free sample PDF of the Motor Monitoring Market Intelligence Study, published by Grand View Research.