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Global Machine Condition Monitoring Market, by Region, 2018–2027 (USD Million)

The global machine condition monitoring market has been witnessing steady expansion as industries increasingly adopt predictive maintenance strategies to minimize downtime and optimize asset utilization. Regional markets vary significantly in maturity, adoption levels, and technological infrastructure, but all show strong potential for long-term growth driven by the integration of Industrial IoT (IIoT) and artificial intelligence.

Market Overview

The global market size for machine condition monitoring was valued at approximately USD 2.4 billion in 2022, and it is expected to reach around USD 3.35 billion by 2027, growing at a compound annual growth rate (CAGR) of nearly 7% during the forecast period (2022–2027). This growth is underpinned by the increasing need for operational efficiency, safety, and predictive analytics in critical industries such as manufacturing, oil & gas, power generation, and transportation.

Electronic Manufacturing Services (EMS) Market: Powering the Global Electronics Supply Chain

The Electronic Manufacturing Services (EMS) market plays a critical role in today’s global electronics ecosystem, providing comprehensive design, manufacturing, testing, and logistics solutions for electronic components and devices. EMS providers help original equipment manufacturers (OEMs) streamline operations, reduce costs, and accelerate time-to-market — making them indispensable partners in industries such as consumer electronics, automotive, telecommunications, industrial automation, and healthcare.

Market Overview

The global Electronic Manufacturing Services market has witnessed significant growth over the past decade, driven by rapid technological advancements, the proliferation of smart devices, and increased outsourcing by OEMs.In 2023, the market was valued in the hundreds of billions of USD, and it is projected to grow at a robust CAGR from 2024 to 2032, as demand for electronics continues to surge globally.