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

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Global Vibration Monitoring Market Things to
Focus on to Ensure Long-term Success 2020-2026
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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.

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• 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.

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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

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• 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.

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