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Global Vibration Monitoring Market: Factors Helping to Maintain Strong Position Globally 2020-2026

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Title: Global Vibration Monitoring Market: Factors Helping to Maintain Strong Position Globally 2020-2026


1
Global Vibration Monitoring Market Things to
Focus on to Ensure Long-term Success 2020-2026
2
Industry Overview
  • Accordingly, to Global Market Insights research
    report vibration monitoring market Large-scale
    development of smart factories across the globe
    is poised to drive outlook. Incorporation of
    smart technologies, such as AI, loT, smart
    sensors, to improve the performance of vibration
    monitoring systems is encouraging product
    adoption in various sectors including energy
    power, oil gas, metals mining, chemical, food
    beverages and automotive
  • Integration of these monitoring systems across
    manufacturing units/factories facilitate smooth
    exchange of information from plant operators, to
    critical machinery to process visualization in
    real-time scenario. Growing focus on predictive
    maintenance in a bid to enhance machine
    functionality and safety is poised to fuel the
    adoption of vibration monitoring systems in the
    coming years.
  • Vibration meters are experiencing high demand as
    they do not require any mobile device or computer
    to analyze the vibration data. Also, these
    systems generate results in the form of
    digital/analog output, that can be easily
    understood without having technical knowledge.
    Estimates suggests that global vibration
    monitoring market size will exceed USD 2 billion
    in terms of annual valuation by 2026.

3
Continue
  • Industry players are developing advanced
    vibration meters for a wide range of industries
    owing to high product demand. For instance, In
    July 2019, Monnit Corporation announced the
    launch of ALTA in 2019. The product is an
    advanced vibration meter with wireless features
    for civil infrastructure and several industrial
    applications. Vibration meter segment is
    estimated to grow at 3 over the analysis period
    due to low product cost and instant result
    generation.
  • In the manufacturing sector, vibration monitoring
    system is used for rotating components such as
    motors, bearing and gear. The systems with smart
    sensor technology are widely adopted in the food
    beverage industry as they enable identification
    of minute variations in the manufacturing
    process. Vibration monitoring industry share from
    food beverage sector applications is set to
    exhibit CAGR of more than 5 through 2026.
  • Hardware components, like sensors and
    accelerometer are also used in the sector, as
    they can operate in wide temperature range,
    offering high accuracy regarding the
    malfunctioning of machinery. In 2019, Europe
    accounted for over 15 of the vibration
    monitoring market share. The growth can be
    majorly attributed to the established automotive
    sector across the region along with the presence
    of major auto manufacturers in like as BMW, Audi,
    Bentley, Volkswagen, among others.

4

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5
Growth Drivers
  • Rising integration of secure cloud computing
    platform
  • Growing adoption of wireless technology
  • Proliferation of Industrial 4.0 and smart
    factories
  • Industrial Internet of Things (IIoT) to stretch
    new growth opportunities
  • Increasing disposition towards predictive
    maintenance

6
Continue
  • Key players vibration monitoring component and
    system providers include General Electric,
    Emerson Electric, Honeywell International Inc.,
    AB SKF, Rockwell Automation, Analog Devices, Inc.
    and Meggitt. These players are focused upon
    enhancing their product portfolios in order to
    gain a competitive edge over other manufacturers.

7
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