“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.
General Electric (US) and Emerson Electric Co. (US) are the Two of the Key Players in the Vibration Monitoring Market
Vibration monitoring is an important aspect of condition-based maintenance, which is gaining traction as the most effective strategy for conducting maintenance activities in various industries. Vibration monitoring systems aid increased visibility into the machine operations. The information provided by vibration monitoring systems helps in determining probable failures well in advance and taking corrective steps in a planned manner.
The growth of this market is driven by the rising trend of remote monitoring through wireless systems, growing awareness toward predictive maintenance, and increasing demand for emerging applications such as heating, ventilation, and air conditioning (HAVC), and penetration of smart factory.
General Electric (US) and Emerson Electric Co. (US) are two of the key players in the vibration monitoring market. General Electric has a strong presence in the market. It provides vibration monitoring solutions through its Oil & Gas segment. The company, currently, sells its vibration monitoring solutions under the brand name Bently Nevada that is part of the GE Measurements & Control business. It offers portable vibration analyzers, proximity sensor systems, portable vibration calibrators, accelerometers, tachometers, portable vibration data collectors, vibration transducers, and so on, through its vibration monitoring solution portfolio.
Emerson is a well-known provider of vibration monitoring solutions. The company offers vibration monitoring solutions under the brand name CSI technology through its Process Management segment. It also offers continuous protection and prediction monitoring systems, vibration transmitters, AMS machinery manager software, and sensors. In addition, Emerson Electric provides maintenance services and training courses pertaining to vibration monitoring systems. SKF AB (Sweden), National Instruments Corp. (US), Honeywell International Inc. (US), Meggitt PLC (UK), Rockwell Automation, Inc. (US), Schaeffler Technologies AG & Co. KG (Germany), Brüel & Kjaer Sound & Vibration Measurement A/S (Denmark), and Analog Devices Inc. (US) are some of the companies operating in the vibration monitoring market.
The major players in the vibration monitoring market have primarily adopted the strategy of product launches to strengthen their product portfolio and to expand the reach of their offerings to newer clients. For instance, in 2016, Analog Devices (US) launched three-axis MEMS accelerometers designed to perform high-resolution vibration measurement with very low noise, enabling the early detection of structural defects via wireless sensor networks. Whereas, Schaeffler AG & Co. KG (Germany) launched the FAG WiProM in 2015, which is an innovative mobile device used for vibration monitoring of the entire drivetrain of the wind turbines.
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