According to the latest report by IMARC Group “Vibration Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global vibration monitoring market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
Vibration monitoring is a predictive maintenance technique that measures the displacement, velocity, and acceleration of vibration signals. It assists in identifying misalignment, imbalance, bearing failures, resonance and natural frequencies, gearbox failures, bent shafts, electrical motor faults, bubbles in pumps, and critical speeds. It aids in tracking asset health with temperature and vibration, providing real-time reaction to the change of health conditions, increasing the life of a machine, and supporting remote conditioning monitoring.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
Significant growth in the automotive industry represents one of the key factors strengthening the market growth. Moreover, vibration monitoring systems aid in increasing productivity, minimizing human-mediated activities and reducing downtime. This, coupled with the growing adoption of technologically advanced variants, is bolstering the market growth. New technologies, such as system-on-a-chip (SOC), are allowing real-time accurate data acquisition that can be relayed instantly on handheld devices. These innovations are projected to stimulate the growth of the market.
Breakup by Component:
- Hardware
- Software
- Services
Breakup by System Type:
- Embedded Systems
- Vibration Analyzers
- Vibration Meters
Breakup by Monitoring Process:
- Online
- Portable
Breakup by End Use Industry:
- Energy and Power
- Metals and Mining
- Oil and Gas
- Automotive
- Food and Beverages
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Analog Devices Inc.
- Emerson Electric Company
- Erbessd Instruments Technologies Inc.
- General Electric Company
- Honeywell International Inc.
- Istec International
- Meggit SA
- National Instruments
- Parker-Hannifin Corp.
- Petasense Inc.
- Rockwell Automation Inc.
- Schaeffler AG
- SPM Instrument AB.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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