Menu ×

IT & TELECOM

Vibration Monitoring Market Segmentation by Component Type (Hardware, and Software), Type of System (Embedded Systems, Vibration Analyzers, Vibration Meters, and Others)– Global Demand Analysis and Opportunity Outlook 2030

  • Text Size:

Extensive insights into the Growth of Vibration Monitoring Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

Read More

IN THE NEWS

  • April 2019:  Rockwell Automation offered new solutions that provide exceptional security based on global security standards. The system is designed to protect control-level communications and overall system integrity, along with effectively addressing the concerns of IIoT and connected machines.

Global Vibration Monitoring Market Highlights 2022-2030

The global vibration monitoring market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. The market is anticipated to grow owing to the growing awareness towards predictive maintenance, rising trend of remote monitoring through wireless systems, increasing demand for vibration monitoring in applications such as heating, ventilation, air conditioning (HVAC), and increasing manufacturing throughput and penetration of smart factories in significant economic regions. According to the United Nations Industrial Development Organization, following a period of economic recession, global manufacturing increased and remained at a steady growth rate of 3.5 percent until 2018. Along with these, a significant advantage is that vibration analysis can identify problems before becoming too severe, which saves a lot of time. This is also considered to be a crucial factor predicted to boost the market growth. Moreover, the increasing use of IoT technology is projected to lead to the growth of the vibration monitoring market in the near future as this technology aids manufacturers in monitoring the condition of process equipment and machines in real-time.

Global Vibration Monitoring Market

Based on the type of system, the market is segmented into embedded systems, vibration analyzers, vibration meters, and others. The embedded systems segment is anticipated to grab the most significant share by the end of 2030, on the back of efficient and steady monitoring offered by embedded systems. Moreover, these systems are in high demand in industries such as oil & gas, energy & power, metals & mining, and chemicals, which in turn is expected to drive the market segment growth. Additionally, on the basis of component, the hardware segment in the global vibration monitoring market is projected to grow with a significant CAGR over the forecast period. The segment's growth can be accounted to the fact that these are the key components through which the vibration-related data in machinery is obtained in advance. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Vibration Monitoring Market Regional Synopsis

The global vibration monitoring market is segmented into five regions: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period. This can be ascribed to the rising adoption of predictive maintenance tools, rapid industrialization, and increasing investments to achieve operational and maintenance efficiency in factories in the region. In addition, the increasing number of manufacturing activities resulting from the migration of production bases to Asian countries with low labor costs, such as India, China, and South Korea, is further estimated drive the demand for vibration monitoring systems in the region. Furthermore, the vibration monitoring market in North America is evaluated to occupy the largest share in terms of revenue in the forecast period, owing to the rising adoption of technologically advanced solutions in different end-use industries and an increasing number of manufacturers which offer a wide range of vibration monitoring solutions in the region.

Global Vibration Monitoring Market

The global vibration monitoring market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global vibration monitoring market includes the following segments:

By Component Type

  • Hardware
  • Software

By Type of System

  • Embedded Systems
  • Vibration Analyzers
  • Vibration Meters
  • Others

Growth Drivers

  • Increasing Use of Wireless Systems to Monitor Machine Conditions
  • Advancements of Vibration Monitoring Technologies

Challenges

  • High Installation Cost of Vibration Monitoring

Key Players Dominating the Market

  • Emerson Electric
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • 3DSignals Ltd.
  •  Sensye Ltd.
  • Augury Inc.
  • Petasense Inc.
  • MachineSaver, Inc.
  • Prüftechnik Dieter Busch AG
  • Shinkawa Electric Co., Ltd.
  • General Electric Company
  • Honeywell International, Inc.
  • National Instruments
  • Yokogawa Electric Corporation
  • Fluke Corporation

FREQUENTLY ASKED QUESTIONS


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2021 Research Nester. All Rights Reserved