Global Vibration Monitoring Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 7.0% through 2020 to 2027, reaching US$ XX Bn.
Global Vibration Monitoring Market, by Region
Global Vibration Monitoring Market Drivers and Restrains:
Vibration monitoring is one of the core concepts of dynamic control for industrial machinery. The advanced vibration monitoring systems are integrated into the industrial machinery for the deliver of exhaustive, and almost a real-time diagnostic information to the workers on the actual dynamic condition and performance of the machines. The adoption of vibration monitoring is high in the automotive, manufacturing, and energy & power sectors. They utilized predictive analysis that helps manufacturers increase their productivity and maximize operational efficiency.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The global vibration monitoring market is driven by the rising use of wireless systems in machine condition monitoring, increasing disposition toward predictive maintenance, and high demand from emerging applications. The advent of secure cloud computing platforms used in condition monitoring, growing adoption of automated condition monitoring technologies in the smart factories will impel the market growth in the forecast period.
However, the high initial investment for vibration monitoring solutions on existing machinery, the impact of regulatory standards, and lack of trained technical resources for data analysis are restraining the market growth at the global level. The development of machine learning and big data analytics, and Digitization and Industrial Internet of Things (IIoT) are expected to create beneficial opportunities for the key player in the market during the forecast period. Accessibility to expertise at remote locations and the trend of integration of vibration monitoring systems with other maintenance systems are the major challenge for the Vibration Monitoring market in the near future.
Global Vibration Monitoring Market Segmentation Analysis:
Based on the industry, the automotive segment has led the vibration monitoring market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. These industries acquire heavy and capital-intensive machinery and greatly depend on operational efficiencies for production benefits. The global automotive industry is focused on automation and upgrading assembly lines that require motor monitoring. Motor current signature analysis helps to reduce machine failures and extends the life of machines. The automotive industry is showing significant growth in the number of units produced per day. The machinery on the production floor is required to be appropriately maintained to minimize the production cycle and increase production output. Therefore, the automotive industry segment is creating a huge demand for vibration monitoring systems during the forecast period.
Global Vibration Monitoring Market Regional Analysis:
Geographically, the Vibration Monitoring market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. Thanks to the presence of key players such as General Electric, Emerson Electric, Honeywell International, National Instruments, and Parker-Hannifin in the region. The growing adoption of smart manufacturing or Industry 4.0 in several industries are creating a huge demand for a vibration monitoring system in the region. Stringent government regulations for the workplace & personal safety, and tight quality control in the oil & gas, food & beverage, and chemical industries are fueling the market growth in North America.
The market in Asia Pacific is expected to grow at a high CAGR of XX% during the forecast period. The growing adoption of predictive maintenance tools, rapid industrialization, and competitive pressure to achieve operational efficiency are fueling the market growth in the region. The enlargement of manufacturing activities because of the migration of production bases in Asian countries like China, India, and South Korea due to low labor costs are also impelling the demand for vibration monitoring systems in the region. China and India are the leading contributors to regional market growth. China is a manufacturing hub and has the largest population country in the world, increasing investments in the infrastructure along with the power sector. For instance, The Chinese government has announced investments worth US$ 78 Bn to develop 110 nuclear power plants, planned to commence operations in the near future.
A report covers the recent development in market for the global vibration monitoring market e.g., Analog Devices launched a wireless vibration sensing system to monitor and improve the performance of its production equipment. These systems contain the ADIS16229 iSensor wireless vibration sensor node and support in reducing the whole cost of maintenance of the system.
April 2019 – from Rockwell Automation launched built-in security that accepted worldwide to protect control-level communications and overall system integrity and is expected to address the concerns of IIoT and connected machines.
The objective of the report is to present a comprehensive analysis of the Global Vibration Monitoring Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Vibration Monitoring Market dynamics, structure by analyzing the market segments and project the Global Vibration Monitoring Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Vibration Monitoring Market make the report investor’s guide.
Scope of the Global Vibration Monitoring Market:
Global Vibration Monitoring Market, by Offering:
• Proximity probes
• Velocity sensors
• Professional services
• Managed Services
Global Vibration Monitoring Market, by System Type:
• Embedded systems
• Vibration meters
• Vibration analyzers
Global Vibration Monitoring Market, by Monitoring Process:
Global Vibration Monitoring Market, by Industry:
• Oil & Gas
• Energy & Power
• Metals & Mining
• Aerospace & Defense
• Food & Beverages
• Pulp & Paper
Global Vibration Monitoring Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Vibration Monitoring Market, Major Players:
• Emerson Electric Company
• General Electric Corporation
• Honeywell International Inc.
• National Instruments Corporation
• Meggitt PLC
• Rockwell Automation Inc.
• Brüel & Kjaer Sound & Vibration Measurement
• Schaeffler AG
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
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