Fault Detection and Classification Market - Top Companies and Manufacturers

  • Report ID: 5925
  • Published Date: Oct 22, 2024
  • Report Format: PDF, PPT

Companies Dominating the Fault Detection and Classification Landscape

    • Cognex Corp.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Clockworks Analytics
    • Keyence Corp.
    • KLA Corp.
    • Microsoft Corp.
    • OMRON Corp.
    • Siemens AG
    • DNV Group AS
    • Lucy Electric
    • einnoSys Technologies Inc.
    • elunic AG
    • INFICON Holding AG

Browse Key Market Insights with Data Illustration:

In the News

  • Lucy Electric combined Advanced grid monitoring capabilities and AI for subterranean cable asset management and fault detection by utilizing a "digital twin" and sensors at the feeder and substation levels to identify irregularities in grid operation. Furthermore, combining this innovative technology with the GridKey monitoring system enhances fault management, resulting in considerable cost savings and fewer customer interruptions, and is regarded as a very successful method of identifying cable faults since it can locate little transients that are indicative of the beginning of a cable fault.
  • A novel machine-learning model for forecasting the maintenance requirements of large-scale solar PV installations has been created by scientists from Malaysia and Thailand, which will aid in detecting irregularities in the expected electrical current of string modules, the tool seeks to circumvent "fault detection and classification," which is frequently present in standard operating systems and notifies operators when repair is necessary.

Author Credits:  Abhishek Verma


  • Report ID: 5925
  • Published Date: Oct 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of fault detection and classification is estimated at USD 5.5 billion.

Fault Detection and Classification Market size was valued at USD 5.14 billion in 2024 and is projected to cross USD 15.2 billion by the end of 2037, expanding at more than 8.7% CAGR during the forecast period i.e., between 2025-2037. The growing manufacturing industry across the globe and the growing integration of AI will drive the market growth.

Asia Pacific industry is expected to dominate majority revenue share of 35% by 2037, impelled by growing urbanization in the region.

The major players in the market are KLA Corp., Microsoft Corp., OMRON Corp., Siemens AG, DNV Group AS, Lucy Electric, einnoSys Technologies Inc., elunic AG, INFICON Holding AG, Synopsys Inc., Musashi Seimitsu, and others.
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