Vibration Monitoring Market by Geography Insights, Opportunity Analysis, Demand and Forecast to 2026
Europe accounted for over 15% of the vibration monitoring market share in 2019. 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. 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.
The global vibration monitoring market size will exceed USD 2 billion in terms of annual valuation by 2026.
Request for a sample copy of this research report @ https://www.decresearch.com/request-sample/detail/4647
The vibration monitoring market is poised to grow rapidly owing to lrge-scale development of smart factories across the globe. 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.
Vibration monitoring market share from food & beverage sector applications is set to exhibit CAGR of more than 5% through 2026. 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 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.
Key players in vibration monitoring market 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. For instance, Hansford Sensors announced the launch of a new enclosure vibration monitoring system in 2017. The compact product is a self-contained terminal that accumulates readings from accelerometer through portable data collector.
Request for customization @ https://www.decresearch.com/roc/4647
Industry players are developing advanced vibration meters for a wide range of industries owing to high vibration monitoring market 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.
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.
These manufacturers have experienced a significant demand for vehicles in the last few years, which in turn required continuous monitoring during the production process to reduce machine failure and enhance production output. As per the European Automobile Manufacturer Association, number of vehicles produced in 2018 was 16.5 million across the region.
Related News: -
About Author
Rahul Varpe
Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid...