Vibration Monitoring Market Worth $2.2 Billion by 2025 - Exclusive Report by MarketsandMarkets™

Vibration Monitoring Market Worth $2.2 Billion by 2025 - Exclusive Report by MarketsandMarkets™

PR Newswire

CHICAGO, March 23, 2020

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.

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"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

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"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.

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