Conveyor Monitoring Market 2019 – Globally Market Size, Analysis, Share, Research, Business Growth and Forecast to 2026 | Fortune Business Insights
Increasing awareness about predictive maintenance techniques and tools is fostering the growth of the global conveyor monitoring market says Fortune Business Insights in a report titled, “Conveyor Monitoring Market Size, Share and Global Trend by End-use Industry (Food & Beverage, Automotive, Mining, Construction, Others), And Geography Forecast Till 2026.”The increasing requirement of mitigating damages during industrial processes is further spurring the growth of the global conveyor monitoring market.
Launch of Aura IQ Conveyor Monitoring System Will Favor Market Growth
Mining and Ava Group, a fiber optic sensing technologies company based in Melbourne announced the development of a predictive asset monitoring solution for conveyors. For the innovation of Aura IQ, Ava’s Future Fibre Technologies (FFT) and advanced fiber-optic sensing platform were combined with Mining’s signal processing algorithms. The demand for a new conveyor monitoring system is likely to increase among mining industries, owing to the advanced solution in wear detection of conveyor rollers along with the ability to pre-empt failure it provides.
The innovation of Aura IQ will further boost revenue generated in the conveyor monitoring system market due to cost and time savings the system offers. In addition, collaborations between key players to provide monitoring solutions will further drive the conveyor monitoring system market. for instance, Semtech Corp and Transco Industries partnered up to provide a remote monitoring solution for conveyor belts.
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Shifting Preference Towards Advanced Conveyor Monitoring System Will Promote Growth
The conventional methods of conveyor monitoring involve drawbacks such as unreliability, inconsistency, labor-intensive and time-consuming. These aspects have impelled companies to shift their preference towards advanced conveyor monitoring system which, in, the turn is aiding the surge of the conveyor monitoring system shares. The demand for conveyor monitoring is fueling due to its ability to identify potential failure thus reducing the overall conveyor’s downtime. Conveyor monitoring process involves identifying the status and the condition of the conveyor belt and conveyor motor during the operation.
The growing requirement of mitigating damages occurred due to human error during the industrial processes is further contributing to the global conveyor monitoring system revenue. In addition, the rising awareness for eliminating wastages along with predictive maintenance tools and techniques are promoting the use of conveyor sensors. Likewise, stringent regulations by the government and safety compliances are further boosting the global conveyor monitoring revenue.
Acceptance Of Automated Technologies Will Drive The Asia Pacific Market
Geographically, the global conveyor monitoring market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. The Asia Pacific market is predicted to grow significantly during the forecast period owing to the adoption of automated technologies in various industries such as power generation and mining. Furthermore, favorable government policies and the presence of leading oil and mining companies in Australia along with robust foreign direct investments are supporting the growth of the conveyor monitoring market in the region.
In addition, the rising adoption of real-time conveyor monitoring systems for operational efficiency and production combined with the presence of top mining countries in china are fostering the growth of the global conveyor monitoring market. North America is predicted to dominate the global conveyor monitoring market during the forecast period owing to the increasing demand for innovative products in the industries along with rising employment rate. These factors are promoting growth in the region.
Top Players Overview:
- PHOENIX CBS GmbH
- ContiTech AG
- Beltscan Systems Pty Ltd
- Fenner Dunlop
- Cablevey Conveyors
- Emerson Electric Co.
- Cassel Messtechnik GmbH
- Sesotec GmbH
- 4B Braime
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