Condition Monitoring Report |  2023

To better understand current trends in condition monitoring technology, we commissioned ThoughtLab—a global research firm—to conduct a survey of 500 industry experts across six sectors and five countries. The findings provide valuable market insights into monitoring practices and challenges as the shift toward remote, real-time automated data collection continues.

“It’s a high-value snapshot of where the industry is going,” says Ben Starr, Senior Director, Operations, Bentley Infrastructure IoT. “Remote monitoring is a dense ecosystem. It’s confusing. This report cuts through the complexity to present easy-to-understand, actionable insights.”

Report offers valuable industry insights into condition monitoring

The 2023 report explores the current landscape of the industry based on input from 500 experts. A few of the most notable highlights include:

  • 67% reported increasing the scope of their monitoring capabilities over the last two years
  • 34% reported increasing the number of monitoring parameters measured since 2021
  • 59% reported time delays from sample collection to receiving analytical lab reports as their biggest pain point

Cory Baldwin, Vice President, Infrastructure IoT, says that while the report clearly represents a shift to automation, the move from manual monitoring and legacy automation technologies is typically just that: a gradual transition, not an immediate rip-and-replace proposition for most asset owners.

The Bentley IoT leaders note a push for more integration and adaptability across the full spectrum of IoT solutions, and more out-of-the-box products, as new technologies, platforms, sensors, telemetry options, gateways, and protocols proliferate.

And while the condition monitoring ecosystem continues to mature and advance, the original goal has never changed.

“It comes down to transforming data into insights,” Cory says. “Our technologies are making our clients more productive so they can spend more of their valuable time on actions that benefit the outcome of their projects.”

Download the Report