“Vibration Monitoring Market by Component (Hardware, Software, and Services), System Type (Embedded Systems, Vibration Analyzers, and Vibration Meters), Monitoring Process (Online and Portable), Industry, and Geography – Global Forecast to 2023″
The vibration monitoring market is expected to grow from USD 1.19 Billion in 2016 and to reach USD 1.85 Billion by 2023, at a CAGR of 6.5% during the forecast period.
The online segment held a larger share of the overall vibration monitoring market based on the monitoring process. This process is widely used for vibration monitoring for the equipment in critical plants that work continuously and are highly prone to defects. Online vibration monitoring systems have applications in the industries having the 24 hour production is maintained. One the hand, the market for portable vibration monitoring is expected to grow at the significant CAGR during the forecast period. The major factors encouraging the market for the portable segment are the mobile nature of systems and need for lesser investment than that for the non-portable monitors.
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The vibration monitoring market for embedded systems is expected to grow at the highest CAGR during the forecast period. The growing adoption and popularity of embedded systems for vibration monitoring across various industries due to their capabilities and advantages are expected to drive the market for these systems further.
“Online vibration monitoring market likely to grow at higher CAGR during forecast period”
On the basis of monitoring, the vibration monitoring market for online vibration monitoring is expected to witness the highest growth rate during the forecast period. Online vibration monitoring is widely used process is widely used for critical plants that work continuously and are highly prone to defects. Online vibration monitoring systems have applications in the industries where 24 hour production is maintained, such as oil and gas, energy and power, mining and metal and others industries
Target Audience:
- Vibration monitoring manufacturers
- Original equipment manufacturers (OEMs)
- Research organizations and consulting companies
- Vibration monitoring-related associations, organizations, forums, and alliances
- Distributors and traders
- Government bodies such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and startup companies
“The study answers several questions for the target audience, primarily which market segments to focus on in the next two to five years for prioritizing their efforts and investments.”
Report Scope:
In this report, the vibration monitoring market has been segmented into the following categories:
Vibration monitoring market, by Offering:
- Hardware Accelerometers Proximity probes Velocity sensors Transmitters Others
- Software
- Services
Vibration monitoring market, by System Type:
- Embedded systems
- Vibration meters
- Vibration analyzers
Vibration monitoring market, by Monitoring Process:
- Online
- Portable
Vibration monitoring market, by Industry:
- Oil and Gas
- Energy and Power
- Metals and Mining
- Chemicals
- Automotive
- Aerospace and Defense
- Food and Beverages
- Marine
- Pulp and Paper
- Others
Vibration monitoring market, by geography:
- North America (US, Canada, and Mexico)
- Europe (UK, Germany, France, and Rest of Europe)
- Asia Pacific (China, Japan, India, and Rest of APAC)
- Rest of the World (South America, Middle East, and Africa)
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