The global condition monitoring system market is probable to grow at a CAGR of 6.0%, reaching USD 9,196.7 million by 2035. The market is driven by the increasing need for predictive maintenance, operational efficiency, and asset reliability across industries.
Industries like oil & gas, power generation, mining, aerospace, automotive and industrial are being transformed by leveraging AI-driven IoT-enabled real time predictive maintenance which reduces unpredicted downtimes and supports productivity. Similarly, increased severity of safety legislations, acceleration in automation trend, and escalating energy efficiency emphasize the need to adopt advanced systems of condition monitoring.
The market remains moderately consolidated, with Tier 1 players (Emerson Electric, SKF, Honeywell International, General Electric, and Schaeffler Group) collectively holding 50% of the market share. Among methods, vibration analysis dominates with a 30% market share, while by application, oil and gas leads with 28% market demand, due to high asset maintenance requirements.
| Attributes | Details |
|---|---|
| Estimated Value (2035) | USD 9,196.7 million |
| Value-based CAGR (2025 to 2035) | 6.0% |
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
| Category | Industry Share (%) |
|---|---|
| Top 3 Players | 35% |
| Next 2 of 5 Players | 30% |
| Rest of the Top 10 | 35% |
The Top 3 players (Emerson Electric, SKF, Honeywell International) dominate due to their strong technological expertise, global reach, and investment in AI-driven predictive maintenance. Tier 2 players (General Electric, Schaeffler Group) focus on sensor-based monitoring and hybrid AI solutions. Regional players serve niche industrial applications, offering cost-effective and customized condition monitoring solutions.
The market is fairly consolidated, as leading firms focus on AI-based diagnostics, machine learning-powered predictive analytics, and cloud-integrated remote monitoring solutions.
Vibration Analysis (30% Market Share): This remains the most extensively used method for detecting misalignment, imbalance, and bearing failures in machinery. SKF and Emerson Electric lead in AI-enhanced vibration monitoring solutions.
Oil Analysis: Oil condition monitoring is critical in oil & gas, mining, and power generation industries, detecting contaminants, wear particles, and lubrication efficiency. Honeywell International and Schaeffler Group specialize in advanced oil monitoring systems.
Infrared Thermography: Widely used in aerospace, chemical processing, and food & beverage industries to monitor heat variations and detect system failures before they occur. General Electric and SKF lead in thermal imaging-based monitoring.
Motor Condition Monitoring: Essential for preventing motor failures in industrial automation, automotive, and transportation systems. Honeywell International provides real-time motor diagnostics with AI-powered monitoring solutions.
Oil and Gas Industry (28% Market Share): Heavy dependence on real-time condition monitoring to avert pipeline rupture and improve working safety. Key players in this area are Emerson Electric and Honeywell International.
Power Generation Industry: Predictive monitoring is needed for windmills, atomic power plants and thermal power houses to ensure continuity. The sector is dominated by SKF and General Electric.
Aerospace and Defense: Aircraft systems and avionics need constant monitoring of condition to ensure safety and optimize performance. Honeywell International and Schaeffler Group offer AI-enabled aerospace monitoring. Mining and Metal Mining activities utilize vibration, oil, and ultrasound testing to prevent major equipment failure. Emerson Electric is a leader in the area of mining equipment diagnostics.
Several key players contributed to market advancements in 2024
Emerson Electric Co.
In 2024, Emerson Electric Co. further enhanced its position in the Condition Monitoring System Market with an emphasis on full industrial automation solutions. Through advanced monitoring technologies, the company has been able to play a major role in increasing equipment reliability and reducing unplanned downtime.
Through real-time diagnostics and prognostic analytics, Emerson has helped the oil & gas, power generation, and trade industries improve their efficiency in operation.
The other prominent factor behind the success of Emerson has been the robust global reach and broad services network. Through a focus on low maintenance expenses and asset lifecycle optimization, it has been successful in winning over industrial customers in all corners of the globe. The company will continue to grow its market through improvement in the products it is offering and tailor-made monitoring services.
General Electric Company (GE)
General Electric (GE) has implemented a robust attendance in the Condition Monitoring System Market by highlighting the best-in-class asset performance organization (APM) solutions. As a result, the company advanced state-of-the-art monitoring systems that would enhance its customers' ability to predict and prevent failures in critical machinery.
This was very useful for the aviation, energy, and heavy equipment manufacturing industries because of the need for reliable machines in those sectors.
GE's continued expansion through its focus on industrial automation and smart maintenance strategies towards 2024 has also supported businesses to optimise their performances while at the same time mitigating the associated operational risks. Its good investment in scalable monitoring technologies places it as one of the leaders who are more valued in the landscape of condition monitoring globally.
ABB Ltd.
ABB Ltd. has done a lot to advance the Condition Monitoring System Market by developing intelligent monitoring solutions for a wide variety of industries. The company has focused on making sure that its machines perform well and do not cause much production downtime. Having expertise in motion control, robotics, and power infrastructure, ABB has been able to offer condition monitoring solutions to automotive, utilities, and industrial automation.
ABB has resulted in the success story for the year 2024 on account of digital transformation and sustainability. By implementing features of sensor-based diagnostics, remote monitoring on account of leading businesses track asset health in real-time, this company has better maintained competitive advantage by growing customer base in key global markets.
Schneider Electric SE
Schneider Electric has been a leading provider of energy-efficient condition monitoring solutions. It has focused on the integration of monitoring systems with industrial automation platforms to ensure that data collection is smooth and predictive maintenance is seamless. This has especially been of benefit to renewable energy, smart manufacturing, and critical infrastructure.
One of the major reasons behind Schneider Electric's success in the year 2024 has been its optimization of power consumption without compromising on the reliability of equipment. The firm has received constant recognition in markets with tight environmental regulations for developing eco-friendly monitoring solutions.
The ability to offer customized monitoring tools has furthered its position in the global market for the Condition Monitoring System.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
| Tier | Tier 1 |
|---|---|
| Market Share (%) | 50% |
| Examples | Emerson Electric, SKF, Honeywell International |
| Tier | Tier 2 |
|---|---|
| Market Share (%) | 30% |
| Examples | General Electric, Schaeffler Group |
| Tier | Tier 3 |
|---|---|
| Market Share (%) | 20% |
| Examples | Regional and niche players |
| Company | Initiative |
|---|---|
| Emerson Electric | Launched real-time AI-driven condition monitoring for mining and oil & gas. |
| SKF | Developed smart vibration sensors for predictive maintenance. |
| Honeywell International | Introduced AI-integrated motor monitoring for industrial applications. |
| General Electric | Expanded infrared thermography product line for aerospace and power plants. |
| Schaeffler Group | Launched advanced corrosion monitoring solutions for marine industries. |
By 2035, the condition monitoring industry will be AI-powered, predictive, and cloud-integrated, ensuring high asset reliability and efficiency.
Real-time remote diagnostics and self-learning algorithms will enhance failure detection and cost savings.
Emerson Electric Co., General Electric Company (GE), ABB Ltd., Schneider Electric SE command 40% of the overall market.
Vibration Analysis dominate, accounting for 30% of the market.
Regional and domestic companies hold 20% of the overall market.
The consolidated, with top 10 players commanding a significant share.
Explore Responsible Resource Management & Safety Insights
View Reports
Condition Monitoring System Market Share Analysis
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
