CHICAGO, March 23, 2020 /PRNewswire/ -- According to the new market research report "Vibration Monitoring Market by Component (Hardware and Software), System Type (Embedded Systems, Vibration Analyzers, and Vibration Meters), Monitoring Process (Online and Portable), Industry, and Region – Global Forecast to 2025", published by MarketsandMarkets™, the global Vibration Monitoring Market size is projected to be valued at USD 1.5 billion in 2020 and is expected to reach USD 2.2 billion by 2025, at a CAGR of 7.4% during the forecast period. Factors such as the rising trend of remote monitoring through wireless systems, growing awareness toward predictive maintenance, increasing demand from emerging applications such as heating, ventilation and air conditioning (HAVC), and penetration of smart factories are driving the growth of the vibration monitoring market.
Ask for PDF Brochure:
"Embedded systems to hold the largest market share in the global vibration monitoring market."
The embedded systems segment is expected to lead the vibration monitoring market during the forecast period. Effective and continuous monitoring through embedded systems that are installed directly on the machines allows real-time assessment of the machine condition as well as an optimized maintenance program.
Embedded systems are ideal solutions, being the complete and reliable detection and analysis systems for equipment defects, performance shifts, imbalances, and other anomalies. These systems include sensing, analysis, storage, and alarm capability and offer quick notifications related to vibration shifts. Industries such as oil & gas, energy & power, metals & mining, and chemicals have a huge demand for embedded vibration monitoring systems as several assets used during production are critical as they mostly require continuous monitoring.
"Automotive industry is expected to exhibit the highest growth from 2020 to 2025."
The vibration monitoring market for the automotive industry is expected to grow at the highest CAGR during 2020-2025. The global automotive industry is emphasizing on automating and upgrading assembly lines, which require motor monitoring. Motor current signature analysis helps reduce machine failures and extends the life of machines. The automotive industry is witnessing significant growth in the number of units produced per day. The machinery on the production floor is required to be appropriately maintained to minimize the production cycle and increase production output. Thus, the market for the automotive industry is likely to grow at a significant rate during the forecast period.
Browse in-depth TOC on "Vibration Monitoring Market"
64 – Tables
59 – Figures
168 – Pages
Inquiry Before Buying:
"North America expected to hold the largest share in the vibration monitoring market between 2020 and 2025."
The growing adoption of smart manufacturing or Industry 4.0 in various industries creates a massive demand for vibration monitoring in the region. Besides, factors such as the increasing focus on optimum asset utilization, stringent government regulations for the workplace & personal safety, and tight quality control in the oil & gas, chemicals, and food & beverage industries are driving the demand for vibration monitoring systems in North America. Increasing emphasis on plant asset management and the presence of prominent market players such as General Electric, Emerson Electric, Honeywell International, National Instruments, and Parker-Hannifin in the US are contributing to the high demand for vibration monitoring in the region.
Emerson Electric (US), General Electric (US), Honeywell International (US), National Instruments (US), and SKF (Sweden) are some of the major players operating in the global vibration monitoring market.
Machine Condition Monitoring Market by Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission, MCA), Monitoring Process, Deployment, Offering, Industry, and Region - Global Forecast to 2025
NVH Testing Market by Application (Environmental Noise, Pass-by-noise, Noise Mapping, Sound Power, Telecom Testing, Sound Quality, Building Acoustics, Human Vibration, Product Vibration), Type, End User, Geography - Global Forecast to 2023
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta
630 Dundee Road
Northbrook, IL 60062
Visit Our Web Site: https://www.marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/vibration-monitoring-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/vibration-monitoring-equipment.asp