Vibration Monitoring Market

With the advent of industrial automation, the demand for efficient manufacturing has enabled manufacturers to update their assets completely for a hassle-free working operation. One of the methods to analyze the condition of machinery is vibration monitoring or analysis. Vibration monitoring assists manufacturers in detecting any faults in the operation of machinery by identifying and monitoring the vibrations. The major advantage of vibration analysis is the detection and monitoring of abnormalities and issues that need to be repaired simultaneously with machine operation and continuous check on its various parts.

The study on the global vibration monitoring market provides detailed information about industry trends, market dynamics, market size, competitive landscape, and growth opportunities. In this research report, the global vibration monitoring market has been categorized by component, system type, deployment, end-user, and region/country. Based on component, the market has been segmented into hardware, software, and services. The hardware segment has been further segmented into transmitters, accelerometers, proximity sensors, velocity sensors, and others. Services are further segmented into professional service and managed service. By system type, the market has been segmented into vibration analyzer, embedded systems, and vibration meters. Based on deployment, the market is segmented into on-premise and cloud. By end-user, the market has been segmented into automotive, metal and mining, food & beverage, chemicals, oil & gas, and others. The oil & gas sector accounted for the largest market share owing to the high use of high-level rotating machinery requiring continuous need for anomaly detection and monitoring. Furthermore, technological advancements and digitalization in this sector have significantly increased the probability of machine failure or abnormal functioning of machines. The regions included in the study are North America, Europe, Asia-Pacific, and the rest of the world.

By region, North America is expected to dominate the vibration monitoring market during the review period and grow at a significant CAGR from 2018 to 2023. The region is an early adopter of industrial automation and digital technologies including AI, IoT, and machine learning for vibration and condition monitoring and is continuously investing in developing solutions that curb the rising revenue losses due to machine failure. Moreover, the strong presence of global market players, system integrators, distributors, and resellers in the region further contribute to the market share in North America.

The vibration monitoring market is highly competitive with the presence of many vendors that offer high-quality vibration monitoring solutions to their customers. The major vendors profiled in the study are Emerson Electric Co., General Electric, National Instruments Corporation, SKF AB, and Brüel & Kjær, Analog Devices Inc., Rockwell Automation, Inc., Fortive Corporation, Meggitt PLC, I-care Reliability Inc., Shinkawa Electric Co., Ltd, Metrix Instrument Co., LP, CEC Vibration Products, CEMB SpA, Wilcoxon Sensing Technology, Prüftechnik Dieter Busch AG, AssetSense, Semaq, Yokogawa Electric Corporation, MachineSaver, Inc., Petasense Inc., Augury, 3DSignals Ltd, and Senseye Ltd. The market players follow several organic and inorganic growth strategies, under which they focus on partnerships, agreements, collaborations, mergers, acquisitions, business expansion, product launches, and product enhancements to strengthen their position and excel in the global vibration monitoring market.