Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the vibration sensor market provides in-depth analysis of segments and sub-segments in the global as well as regional vibration sensor market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional vibration sensor market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global vibration sensor market. According to the report, the global vibration sensor market is projected to grow at a CAGR of 7.07% over the forecast period of 2021-2027.
Vibration Monitoring market was valued at USD 1.41 billion in 2020 and expected to reach USD 2.20 billion in 2027, with a CAGR of 7.07% during the forecast period. The use of vibration analysis as a fundamental tool for condition monitoring of equipment has evolved over the last three decades. The monitoring of machines is now almost completely automated with parallel developments in electronic equipment, transducers, and computers. The vibration of every object in motion is characterized by differences in amplitude, intensity, and frequency. Vibration monitoring is essential during the preoperational and start-up phase of a new plant as well as after the installation of a new piping system.
The adoption of wireless communication technology in vibration monitoring is driving the demand for the vibration monitoring market. The wireless technology in the vibration monitoring system has all the specifications needed to execute the functions required for condition monitoring. Data from the units installed all over the plant can be directed to a control or monitoring system by using wireless communication technology. It informs operators and maintenance personnel as conditions change with the equipment being monitored. Furthermore, a rising focus toward predictive maintenance in the industrial sector is driving the market for vibration monitoring market. Adapting a Predictive Maintenance strategy provides the means to develop productivity, product quality, and overall effectiveness of manufacturing environments. However, the lack of trained technical resources for data analysis is restraining the market growth. Moreover, the rising adoption of machine learning and big data analytics is expected to provide opportunities to the market players. The coronavirus pandemic has buffeted manufacturers in every sector. The pandemic has a mixed impact on the vibration monitoring market. Since the shutdown of manufacturing activities worldwide, even before the World Health Organization (WHO) classified the spread of the coronavirus as a pandemic, there have been questions regarding the product or component supply chain. Although some manufacturing was restarted in April 2020, the virus continued to spread in numerous parts of the world. However, the demand for vibration monitoring has increased due to the adoption of highly automated systems.
Geographically, North America holds the largest market share of the global vibration monitoring market. The increasing acceptance of technically innovative solutions in diverse end-use industries is the primary growth factor for the vibration monitoring market in this region. The Asia Pacific is projected to observe a considerable amount of growth in the vibration monitoring market over the forecasted period. Increased demand for predictive maintenance of machinery due to growing industrialization in the region drives the Asia Pacific vibration monitoring market.
The report on global vibration sensor market covers segments such as component, system type, monitoring process, and end use industry. On the basis of component, the sub-markets include hardware, software, and services. On the basis of system type, the sub-markets include embedded systems, vibration analyzers, and vibration meters. On the basis of monitoring process, the sub-markets include online, and portable. On the basis of end use industry, the sub-markets include energy & power, metals & mining, oil & gas, automotive, food & beverages, and others.
The report provides profiles of the companies in the market such as Emerson Electric Co., General Electric, SKF AB, Meggitt PLC, National Instruments Corp., Bruel & Kiaer (Sound & Vibration Measurement A/S), Analog Devices Inc., Rockwell Automation Inc., Honeywell International Inc., and Schaeffler Technologies AG & Co. KG.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the vibration sensor market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.