The global vibration monitoring market size is anticipated to reach USD 3,574.3 million by 2026 according to a new research published by Polaris Market Research. The report “Vibration Monitoring Market Analysis Report By Component (Hardware, Software, Services); By Monitoring Process (Online, Portable); By End-User (Automotive, Chemical, Aerospace and Defense, Food and Beverages, Construction, Mining, Oil and Gas, Others); By Regions: Market Size & Segment Forecast, 2019 – 2026” provides a complete analysis of present market trends and future insights.
Vibration monitoring systems ensure that data is organized and decisions can be made efficiently. They collect real-time information, offer historical trends and graph data for further analysis. They generate alarms when abnormalities occur and send instant alarms to smart devices. They sense concerns such as imbalance, misalignment, bearing wear and looseness and provide predictive maintenance.
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The well-known companies profiled in the report include National Instruments Corporation, Emerson Electric Co., Bruel & Kiaer Sound & Vibration Measurement A/S, Meggitt PLC, Honeywell International Inc., Schaeffler AG, Analog Devices, Inc., SKF AB, General Electric, and Azima DLI Corporation. These companies are consistently launching new products to enhance their offerings in the Vibration Monitoring industry. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
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- Regional outlook (Revenue USD Millions, 2015 – 2026)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Asia-Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
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Industry InsightAs per Market Research Future (MRFR), states that the world Vibration Monitoring market size can value at USD 2.03 Billion by 2023.
As per MRFR, the global market 2021 can rise at 6.6% CAGR through the assessment forecast period (2017-2023).
The strong growth is due to rapid industrialization.COVID-19 Analysis The COVID-19 pandemic has impacted several industries, with the vibration monitoring market being no exception.
Following various international restrictions and lockdown imposed by the government, businesses have shut down, and manufacturing processes put on a halt as a result, the process to develop vibration monitoring systems has been delayed.
Though, the key industry players are laying emphasis on contributing to the current pandemic situation via substituting their production for the healthcare domain like healthcare devices and ventilators.
As vibration monitoring decreases unnecessary human-mediated activities, such as manual inspections and unscheduled corrections, new technologies such as system-on-a-chip (SOC), have pushed the boundaries of data acquisition to a great extent.
Market Overview:Rapid industrialization is inducing high demand for advanced security feature in various end-use industries.
Vibration monitoring systems are used to determine the chances of mechanical failure of industrial equipment.
Market Research Future (MRFR) has published a report stating that the global Vibration Monitoring Market to expand at a notable CAGR of over 6.6% during the forecast period of 2017-2023 and reach the market valuation of USD 2.03 Bn by the end of 2023.Market Drivers and Restraints:Extensive utilization of vibration monitoring systems in various industrial sectors as a major part of their safety features is majorly driving the expansion of the global vibration monitoring market during the assessment period.
Rapid industrialization and globalization are leading to the significant expansion of manufacturing and other industries, which in turn is propelling the growth of the global vibration monitoring market.
Benefits of vibration monitoring systems for detection of fault and deterioration of equipment before projecting other symptoms such as lubricant impurity, high energy consumption, and others are inducing demand for advanced vibration monitoring systems leading to the expansion of the global vibration monitoring market.
However, high installation cost and complexities related to their maintenance are likely to act as restraining factors on the expansion of the global vibration monitoring market during the forecast period.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/3932Key Players:The prominent players in the Vibration Monitoring Market are – Honeywell International Inc. (US), Emerson Electric Co. (US), General Electric (US), Analog Devices Inc.(US), SKF AB (Sweden), National Instruments Corp. (US), Rockwell Automation, Inc. (US), Schaeffler Technologies AG & Co. KG (Germany), Bruel & Kiaer Sound & Vibration Measurement A/S (Denmark), and Meggitt PLC (UK), among others.Market Segmentation:By Component, the global vibration monitoring market has been segmented into hardware, software, and services.On the basis of System Type, the vibration monitoring market has been segmented into vibration analyzer, embedded systems, and vibration meters.Based on Deployment, the global vibration monitoring market is segmented into on-premise and cloud.On the basis of End-User, the vibration monitoring market has been segmented into automotive, chemicals, metal & mining, food & beverage, oil& gas.Market Research Analysis:The global vibration monitoring market, on the basis of region, has been segmented into Asia Pacific (APAC), North America, the Middle East & Africa (MEA), Europe, and South America.
