Vibration Monitoring Market Growth Analysis, Outlook by 2020 – Trends, Opportunities and Forecast to 2026

Vibration monitoring market is anticipated to witness a lucrative growth rate in the forthcoming years, propelled by penetration of smart factories in key regions. Vibration monitoring is the method of monitoring machinery to identify vibrations that might specify a malfunction, process restriction, or developing failure. It is considered a key component of predictive maintenance. By correctly monitoring the critical equipment, it can further prevent unscheduled outages, it can diminish repair and maintenance costs, and can also optimize the machine performance.
Vibration monitoring chiefly applies to machines which rotate - like compressors, turbines, pumps, fans, and motors. In addition to this, by installing vibration detection equipment like seismic sensors or alignment sensors, users can start a baseline value as well as monitor for variations from that particular baseline. If any irregularities are detected, appropriate steps could be taken prior to failure of the machinery. Also, analyzing vibration metrics permits teams to detect any loosely connected components, misalignment, or bearing wear in devices before failure.
As per the system landscape, portable type of vibration meters provide the freedom and ability to measure vibration at any given point on an equipment. Sometimes just a simple equipment is needed to ensure that the machine is working within tolerance.
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A vibration analyzer is utilized for inspection and testing in construction sites, manufacturing production services, product development laboratories, and more. It tends to measure the vibration for the preventive maintenance of manufacturing machinery. It is further used to measure the axis of rotation of machine. The rotor might be replaced during the scheduled interruption of the machinery, if there seems to be a rotating imbalance. Additionally, it is considered an irreplaceable tool for the professional on the job. Each of the equipment is capable of carrying out the demanding job irrespective of the technical issue at hand.
The vibration monitoring market is segmented in terms of product, monitoring process, system, application, and regional landscape.
In terms of application, the overall vibration monitoring market is categorized into chemicals, oil & gas, food & beverages, automotive, energy & power, metals & mining, and others. Among these, the market share for chemicals was over 5% in 2019 with the growing adoption of wireless monitoring systems in rotating machines and pipelines.
From a regional frame of reference, Middle East & Africa vibration monitoring market witnessed a growth rate of nearly 10% in 2019 due to the presence of several oil reservoirs in the region.
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Table of Contents
Chapter 1. Methodology and Scope
	
1.1. Methodology	
		
1.1.1. Definition and forecast parameters		
			
1.1.1.1. Definitions
			
1.1.1.2. Assumptions, methodology and forecast parameters
		
		
	
	
	
1.2. Data Sources	
		
1.2.1. Primary
		
1.2.2. Secondary
	
	
Chapter 2. Executive Summary
	
2.1. Vibration monitoring industry 360 degree synopsis, 2016 - 2026	
		
2.1.1. Business trends
		
2.1.2. Regional trends
		
2.1.3. Component trends
		
2.1.4. Monitoring process trends
		
2.1.5. System trends
		
2.1.6. Application trends
	
	
Chapter 3. Vibration Monitoring Insights
	
3.1. Industry segmentation
	
3.2. Industry landscape, 2016 - 2026
	
3.3. Impact analysis of coronavirus (COVID-19) pandemic on vibration monitoring market	
		
3.3.1. Global outlook
		
3.3.2. Impact by region		
			
3.3.2.1. North America
			
3.3.2.2. Europe
			
3.3.2.3. Asia Pacific
			
3.3.2.4. Latin America
			
3.3.2.5. MEA
		
		
		
3.3.3. Industry value chain		
			
3.3.3.1. Research and development
			
3.3.3.2. Manufacturing
			
3.3.3.3. Marketing
			
3.3.3.4. Supply
		
		
		
3.3.4. Competitive landscape		
			
3.3.4.1. Strategy
			
3.3.4.2. Distribution network
			
3.3.4.3. Business growth
		
		
	
	
	
3.4. Industry ecosystem analysis	
		
3.4.1. Raw material and component supplier
		
3.4.2. Manufacturers
		
3.4.3. Software providers
		
3.4.4. Distributors
		
3.4.5. Vendor matrix
	
	
	
3.5. Technology & innovation landscape	
		
3.5.1. Integration of AI in vibration monitoring
	
	
	
3.6. Regulatory landscape	
		
3.6.1. North America
		
3.6.2. Europe
		
3.6.3. Asia Pacific
		
3.6.4. Latin America
		
3.6.5. MEA
	
	
	
3.7. Industry impact forces	
		
3.7.1. Growth drivers		
			
3.7.1.1. Rising integration of secure cloud computing platform
			
3.7.1.2. Growing adoption of wireless technology
			
3.7.1.3. Proliferation of Industrial 4.0 and smart factories
			
3.7.1.4. Industrial Internet of Things (IIoT) to stretch new growth opportunities
			
3.7.1.5. Increasing disposition towards predictive maintenance
		
		
		
3.7.2. Industry pitfalls and challenges		
			
3.7.2.1. High initial cost involved in installation of vibration monitoring system
			
3.7.2.2. Lack of skilled professional for data analysis
		
		
	
	
	
3.8. Growth potential analysis
	
3.9. Porter's analysis	
		
3.9.1. Industry rivalry
		
3.9.2. Threat of new entrants
		
3.9.3. Buyer power
		
3.9.4. Supplier power
		
3.9.5. Threat of substitutes
	
	
	
3.10. Competitive landscape, 2019	
		
3.10.1. Company market share
		
3.10.2. Strategy dashboard
	
	
	
3.11. PESTEL analysis
Chapter 4. Vibration Monitoring Market, By Component
	
4.1. Key trends, by component
	
4.2. Hardware	
		
4.2.1. Market estimates and forecast, 2016 - 2026
		
4.2.2. Software		
			
4.2.2.1. Market estimates and forecast, 2016 - 2026
		
		
		
4.2.3. Services		
			
4.2.3.1. Market estimates and forecast, 2016 - 2026