A system for early detection of component failure in a hydraulic system comprises a particle detection device disposed in a fluid flow channel of a machine, the particle detection device configured to monitor a current particle count associated with fluid flowing through the fluid flow channel. The system further includes a condition monitoring system in wireless data communication with the particle detection device. The condition monitoring system is configured to receive data indicative of the current particle count and analyze historic particle count data collected by the particle detection device. The condition monitoring system is also configured to estimate a trend in the historic particle count data based on the analysis. A failure event associated with one or more components associated with the fluid flow channel is predicted if the data indicative of the current particle count deviates from the trend by a threshold amount.