Machine Condition Monitoring Market to Reach USD 6.23 Billion by 2030, Growing at a CAGR of 7.3%
The Machine Condition Monitoring Market is experiencing substantial growth as industries across the globe adopt predictive maintenance strategies to enhance equipment reliability. The market, valued at USD 3.80 billion in 2023, is forecasted to grow at a CAGR of 7.3% over the next seven years, reaching approximately USD 6.23 billion by 2030. Factors such as Industry 4.0 adoption, cost-saving benefits, and real-time condition monitoring systems are propelling market expansion.
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