Automotive Condition Monitoring System Market is expected to reach a value of US$ 310 Mill..

Stratview Research 11-07-22

 Automotive Condition Monitoring System Market report by Stratview Research, provides market segmentation in the most-detailed pattern. A high-level market analysis of major segments has been performed in the report and opportunities are identified. This report focuses on the market dynamics, current and emerging trends, competitive landscape, and regional analysis of the market. The study also includes an elaborated detail on the industry forecast and potential of this market.

Click here for a free sample & related graphs of the report at:

Covid Impact on the market

The outbreak of the pandemic shook the industry to the core. As a result, the industry recorded a massive decline in the production of vehicles across regions. The impact of this has been recorded across its supply chain including the demand for condition monitoring systems, which plummeted by over 15% in the year 2020.

The year 2021 was hoped to be a glorious year with some recovery, generated from the decline in the past couple of years, is anticipated to be filled. However, the shortage of semiconductors dented its recovery trajectory up to an extent. Such impacts also affected the demand for condition monitoring systems in the year 2021.




Market Insights

Research suggests that a shift from gasoline to electric vehicles will create new revenue pockets for the market stakeholders. According to Stratview Research, the automotive condition monitoring system market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.

Click here to view the ToCs of this report–

Market Segmentation

Stratview Research has segmented the Automotive Condition Monitoring System Market by the following types –

  • By Vehicle Type - Passenger Car, Light Commercial Vehicle, and  Medium & Heavy-Duty Commercial Vehicle.
  • By Monitoring Technique Type - Vibration Analysis, Thermography, Oil Analysis, and Others.
  • By Product Type - Router-based System, Portable System, and Sensor-based System.
  • By Deployment Type - Cloud and On-premises.
  • By Region - North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).

Segment-wise Analysis

Based on the vehicle type, passenger cars remain the biggest demand generator for condition monitoring systems in the foreseen future. The key factors driving the passenger cars’ segment dominance are the largest vehicle production category paired with increased acceptance of electronic products including condition monitoring systems.

Based on the monitoring technique type, Vibration analysis remains at the nucleus for all the leading market stakeholders serving the automotive industry. An automobile consists of several parts whose health needs to be regularly monitored.

Based on the product type, the sensor-based system dominates the market. Sensors are used to provide continuous status monitoring by collecting data through machine learning or artificial intelligence (AI), which are increasingly preferred in the automotive industry.

Which region is expected to remain the largest market?

Asia-Pacific is expected to remain the largest market for automotive condition monitoring systems over the forecast period. In addition to that, the region is likely to witness healthy market growth in the coming years. China, Japan, India, South Korea, and Thailand are the preferred manufacturing destinations for automobiles in Asia.

Who are the major key players in the market?

Automotive remains one of the key industries that all the key condition monitoring system suppliers are targeting today. The following are some of the key players in the automotive condition monitoring system market:

  • SKF
  • Siemens
  • Baker Hughes Company
  • Emerson Electric Co.

Related reports which might be useful:

  1. Aerospace and Defense Condition Monitoring System Market
  2. Marine Condition Monitoring System Market Size, Trend, Forecast, and Growth Opportunity: 2022-2027

About us –

Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customization of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.

Stratview Research has also launched 'Composights', an online portal that offers free thought leadership reports, whitepapers, market report synopsis, and much more for Composites and allied industries, worth US$ 20,000 every year.

Click here to sign up (No costs involved):

Didn't find what you were looking for?
Tell us about your requirements

(Our team usually responds within a few hours)