Equipment Monitoring Top Companies-Recent Developments, Business Strategy, Deal Strategy, Patent Strategy, Benchmarking and Management Outlook

Equipment Monitoring Market Size Analysis and Top Companies

The global equipment monitoring market size is estimated to hit around USD 5.78 billion by 2033 from USD 3.51 billion in 2024 with a CAGR of 5.71%. The top companies operating in the equipment monitoring are SKF, Emerson Electric, General Electric, Honeywell International, National Instruments, Parker Hannifin Corporation, Rockwell Automation, Inc., Schaeffler AG, ABB, Fortive Corporation, ALS Limited, Schneider Electric Co., and Others.

Market Report Coverage

Equipment Monitoring Market Key Players

• SKF
• Emerson Electric
• General Electric
• Honeywell International
• National Instruments
• Parker Hannifin Corporation
• Rockwell Automation, Inc.
• Schaeffler AG
• ABB
• Fortive Corporation
• ALS Limited
• Schneider Electric Co.

Recent Developments

• In June 2024, Teledyne FLIR LLC, a defense industry company, announced the launch of the SV89 Vibration Monitoring Solution Kits and FLIR SV88, which assist customers in monitoring critical equipment by continuously detecting faults, alerting to potential defects and future problems and analyzing vibration. The SV88 and SV89 Vibration Monitoring Solution Kits' multi-communication protocols, IP66 rating, wireless functionality, and rugged design enable customers to make crucial data-driven decisions that prolong the life of expensive equipment by warning of possible problems.
• In May 2024, Datadog, Inc., a company that is focused on developing the monitoring and security platform for cloud applications, revealed the launch of the IT Event Management to its suite of AIOps (artificial intelligence for information technology operations) capabilities. Datadog's event management feature allows it to intelligently combine, correlate, and enhance all alert events and significant signals from both Datadog and other third-party observability tools into a single, coherent view. By reducing alert fatigue, this technique enables teams to concentrate their efforts and resources on fixing problems.

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