Crane Monitoring Market Scope
Crane monitoring is the use of sensors and other technology to track the condition and performance of a crane. It can help prevent accidents, improve safety, and increase efficiency. and The global crane monitoring system market is experiencing significant growth, driven by the increasing need for safety and efficiency in crane operations across various industries. This growth is largely attributed to the rapid adoption of Internet of Things (IoT) technologies and automation in industrial operations. IoT enables real-time monitoring, data collection, and analytics, enhancing the efficiency and safety of crane operations. Additionally, stringent safety regulations and standards are compelling industries to implement advanced monitoring systems to ensure compliance and reduce operational risks. The construction industry plays a pivotal role in this market expansion. With urbanization accelerating globally, especially in developing countries, there's a surge in construction activities necessitating the use of cranes equipped with monitoring systems to enhance operational safety and efficiency. Similarly, the oil and gas sector's exploration activities in challenging environments demand reliable crane operations, further boosting the adoption of monitoring solutions.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Key Companies Profiled | VerveTronics Imagineering Pvt. Ltd. (India), Aanderaa Data Instruments AS (Norway), McCoy Global Inc. (Canada), Netarus, LLC (United States), Knopff Solutions Pvt. Ltd. (India), Cranesafe Technologies (India), Liebherr-International AG Switzerland), Palfinger AG (Austria), Sarens NV (Belgium) and Trimble Inc. (United States) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Rye market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future. Research Analyst at AMA estimates that Global Manufacturers will contribute to the maximum growth of Global Crane Monitoring market throughout the predicted period.
VerveTronics Imagineering Pvt. Ltd. (India), Aanderaa Data Instruments AS (Norway), McCoy Global Inc. (Canada), Netarus, LLC (United States), Knopff Solutions Pvt. Ltd. (India), Cranesafe Technologies (India), Liebherr-International AG Switzerland), Palfinger AG (Austria), Sarens NV (Belgium) and Trimble Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Konecranes Plc (Finland), The Manitowoc Company, Inc. (United States), Terex Corporation (United States), SANY Group (China) and XCMG Group (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Crane Monitoring market by Type , by Application (Load Monitoring, Fleet Management, Structural Health Monitoring, Collision Avoidance and Remote Monitoring & Control) and Region with country level break-up.
On the basis of geography, the market of Crane Monitoring has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2024.
Market Leaders and their expansionary development strategies
In August 2024, CPI announced a partnership with Verifone to integrate CPI's Paypod cash automation solution with Verifone's Commander POS and self-checkout systems for convenience stores. This collaboration aims to enhance payment flexibility, streamline operations, and address labor challenges by automating cash acceptance.
In February 2025, Huisman introduced Performance Insights, a data-driven application accessible via the myHuisman client portal. This platform analyzes equipment data, offering actionable insights into performance, alarms, energy consumption, and component usage. The system aims to enhance maintenance scheduling, proactively resolve faults, and reduce operational costs. Future expansions are planned to include condition monitoring and system analytics.
Influencing Trend:
Integration of Cloud-based Monitoring
Market Growth Drivers:
Growing Construction & Infrastructure Development and Adoption of IoT & AI-based Monitoring Systems
Challenges:
Lack of Skilled Workforce
Restraints:
High Initial Investment & Maintenance Costs
Opportunities:
Advancements in Wireless & GPS Technologies and Adoption of Digital Twin Technology
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others