PUBLISHER: Grand View Research | PRODUCT CODE: 1728009
PUBLISHER: Grand View Research | PRODUCT CODE: 1728009
The global motor monitoring market size is expected to reach USD 3.99 billion by 2030, registering a CAGR of 8.8% from 2025 to 2030, according to a new report by Grand View Research, Inc. Energy costs are a major part of operating expenditures of any facility, and motors account for the majority of those expenses. Monitoring motor performance helps in extending the life of the motor, improving reliability, and reducing the facility's overall operating cost. Moreover, monitoring motor performance with highly trained workers using advanced equipment enables facilities to dictate their own downtime, improve plant operations, and identify poorly functioning equipment quickly. All these factors are anticipated to drive the market over the forecast period.
Motor monitoring is the collection, sorting, and analysing of streamed data with the help of detectors, sensors, diagnostic software and so on and has its application in several industry verticals including oil & gas, power generation, aerospace & defense, automotive, and others. Motor monitoring cannot be done properly through manual methods, as it leads to unanticipated outages, failures and unexpected financial losses. Motor monitoring systems help record the undesired changes at an early stage, and are then rectified by the analysis. Therefore, these systems are being extensively used for improving the overall productivity of the organization.
The market is highly influenced by several factors including increasing prominence of predictive maintenance and rising demand to minimise revenue loss caused due to motor faults. Rising popularity of wireless technologies across various sectors, such as manufacturing, is also contributing to the market growth. In addition, adoption of cloud computing platform is also anticipated to leverage huge growth opportunity for the market over the forecast period.