Vibration Monitoring Market
Vibration Monitoring Market
Vibration Monitoring Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
WILMINGTON, DELAWARE, UNITED STATES, March 26, 2024 /EINPresswire.com/ -- Vibration Monitoring Market by Component (Hardware, Software, and Services), System Type (Embedded Systems, Vibration Analyzers, and Vibration Meters), Monitoring Process (Online and Portable), and End Use (Energy & Power, Metals & Mining, Oil & Gas, Automotive, Food & Beverages, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027.
The global vibration monitoring market size is expected to reach from $1.33 billion in 2019 to $2.17 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027.
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Vibration monitoring is a process of checking the condition of machinery or equipment to detect damages and ensure the health and efficiency of machines in the long term. These systems identify vibrations which may indicate a malfunction, developing failure, or process restriction. It is one of the key components of predictive maintenance. Rise in awareness toward predictive maintenance drives the vibration monitoring market growth.
Vibration monitoring is used primarily on rotating equipment such as steam & gas turbines, pumps, motors, compressors, paper machines, rolling mills, machine tools, and gearboxes. It is used to determine the operating and mechanical condition of these equipment. A major advantage is that vibration analysis can identify developing problems before they become too serious and cause unscheduled downtime. This can be achieved by conducting regular monitoring of machine vibrations either on continuous basis or at scheduled intervals.
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Competitive Analysis:
The vibration monitoring industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the vibration monitoring market include,
● Honeywell International Inc.
● Meggitt PLC
● SKF AB
● Bruel & Kiaer Sound & Vibration Measurement A/S
● ROCKWELL AUTOMATION INC.,
● SCHAEFFLER TECHNOLOGIES AG & CO. KG
● EMERSON ELECTRIC CO.
● ANALOG DEVICES INC.
● National Instruments Corp.
● GENERAL ELECTRICS
Top Impacting Factors:
The developments in vibration monitoring systems has integrated wireless technology and cloud storage. Wireless connectivity in the system using Bluetooth, also provides seamless functioning. For instance, STMicroelectronics, a semiconductor manufacturer, has launched a new vibration-sensing solution optimized to enable smart maintenance of factory equipment. The IIS3DWB is a 3-axis MEMS accelerometer optimized for industrial vibration sensing. The STEVAL-STWINKT1 simplifies prototyping and testing by integrating the IIS3DWB with additional sensors, an ultra-low-power microcontroller and algorithms for vibration processing, Bluetooth wireless module, and USB connection. Housed in a plastic enclosure with a battery, the kit is ready to begin application development and presents a convenient reference design. High-speed data-logger and cloud-dashboard utilities are included to help collect, analyze, and visualize the results.
Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international security screening market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.
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Key Benefits for Stakeholders:
● This study comprises analytical depiction of the global vibration monitoring market share along with the current trends and future estimations to depict the imminent investment pockets.
● The overall vibration monitoring market analysis is determined to understand the profitable trends to gain a stronger foothold.
● The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
● The current vibration monitoring market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
● Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.
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