September 8th, 2022
Vibration Monitoring Market
The Vibration Monitoring Market is estimated to grow at a significant CAGR during the forecast period (2020-2027).
The factors driving the growth of Vibration Monitoring Market includes increasing number of smart factories, growing awareness about predictive maintenance and rising use of vibration monitoring systems by the end-use industries such as oil & gas and power, chemical & petrochemical. According to the report published by Bloomberg, the Global Smart Manufacturing Market is predicted to reach USD 446.24 billion by the end of 2029, growing at a CAGR of 21.5% over the forecast period (2022-2029), which is expected to boost the Global Vibration Monitoring Market in the approaching years. Moreover, the increasing penetration of internet-connected devices and cloud computing platforms, growing concerns related to product safety, integration of wireless technologies with vibration monitoring systems and rising investments by the leading players on research and development, are some of the additional factors supplementing the Vibration Monitoring Market size.
Request a free sample of this report
However, the growth of Vibration Monitoring Market is hindered due to insufficient availability of skilled workforce for handling the latest equipment and additional costs incurred while retrofitting the existing systems.
The major players operating in the market are Honeywell International Inc, National Instruments, Emerson Electric Co, SKF, General Electric, Rockwell Automation, Inc., Schaeffler AG, Meggitt PLC, Analog Devices, Inc. and Bruel & Kjaer, among others.
System Type: Segment Analysis
Based on System Type, the Embedded Systems segment is projected to expand at a remarkable CAGR over the forecast period. These Embedded systems provides quick notifications about vibration shifts along with its increasing use in Chemicals and Oil and Gas Industries, are some of the factors responsible for the growth of the segment.
Offering: Segment Analysis
Based on Offering, the hardware segment is anticipated to grow at a significant CAGR during the forecast period attributed to growing demand for devices services such as accelerometers and velocity sensors
Regional: Segment Analysis
Based on Region, the Asia-Pacific region is estimated to capture the largest market share over the forecast period. The increasing investments by Government on infrastructure projects, rapid growth in the manufacturing activities, rising disposable incomes and growing population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Global Vibration Monitoring Market by Offering
Global Vibration Monitoring Market by Monitoring Process
Portable Vibration Monitoring
Online Vibration Monitoring
Global Vibration Monitoring Market by System Type
Global Vibration Monitoring Market by Industry
Energy & Power
Oil & Gas
Metals & Mining
Aerospace & Defense
Pulp & Paper
Food & Beverages
Global Vibration Monitoring Market by Region
Rest of APAC
North AmericaUnited States of America
Rest of Europe
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Add Gmiresearch to your subscriptions feedGmiresearch