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.
Motor Monitoring Market Report Highlights
The hardware segment led the market in 2024, accounting for 59.1% of the total revenue share. The software segment is also anticipated to register considerable growth during the foreseeable years.
The cloud process segment had the largest market share in 2024. On-premise monitoring processes are expected to register significant growth over the forecast period.
The online segment dominated the market with a revenue share of 59.0% in 2024. Portable monitoring is anticipated to witness significant growth from 2025-2030.
The oil and gas segment held the largest market share in 2024. Power generation is anticipated to grow at the fastest CAGR over the forecast period.
Asia Pacific dominated the global motor monitoring industry with a revenue share of 35.1% in 2024. China dominated the regional market in 2024. China is the world’s biggest manufacturer, making up approximately 28% of the global manufacturing sector.
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