Vibration Monitoring Market 2020 Global Leaders Overview: Fortive, Meggitt PLC, Analog Devices, Rockwell Automation, Emerson Electric, MachineSaver, Petasense, Sensye

Market Research Future published a research report on "Vibration Monitoring Market Research Report- Global Forecast 2023" - Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Synopsis:

Vibration monitoring is used for examining the condition of machinery and equipment by recording abnormal vibrations. The increasing dependency of the industries on technology is expected to cast a positive impact on the expansion of the vibration monitoring market over the next couple of years. A recent study, published by Market Research Future (MRFR), asserts that the global market is anticipated to mark a CAGR of 8.7% across the assessment period 2018 to 2023. The market is estimated to value at over USD 3000 Mn by the end of the forecast period.

Increasing focus on product safety and functionality, in conjunction with rising emphasis on optimum efficiency for profit maximization, is expected to catapult the Vibration Monitoring Market on upward trajectory. The sophistication of the technology is prognosticated to dictate the future growth pattern of the market over the next couple of years. Rising demand for wireless technology is anticipated to influence market growth positively in the years to come.
The key players are injecting massive investments in research & development projects, which is expected to benefit the growth pace of the vibration monitoring market over the next few years. It is likely to increase innovation and affordability in the market, thus, supporting its expansion. Modernization of industries and the establishment of smart factories are anticipated to lead the proliferation of the market in the nearby future. However, on the other hand, the high cost of installation is projected to undermine the growth of the vibration monitoring market across the projection period.

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Key Players:

The key players of global vibration monitoring market are Analog Devices, Inc. (US), SKF AB (Sweden), Brüel & Kjær Sound & Vibration Measurement A/S (Denmark), General Electric Company (US), Rockwell Automation Inc. (US), Wilcoxon Sensing Technology (US), Emerson Electric Co. (US), National Instruments Corporation (US), Fortive Corporation (US), Meggitt PLC (UK), Yokogawa Electric Corporation (Japan), Metrix Instrument Co., LP (US), I-care Reliability Inc. (US), CEMB SpA (Italy), AssetSense (US), Semaq (US), IMBU (Netherland), CEC Vibration (US), Shinkawa Electric Co., Ltd (Japan), Prüftechnik Dieter Busch AG (Germany), MachineSaver, Inc. (US), Petasense Inc. (US), Augury Inc. (US), Sensye Ltd (UK), 3DSignals Ltd (Israel) among other.

Market Segmentation:

o By Component, the global vibration monitoring market has been segmented into hardware, software, and services.
o On the basis of System Type, the vibration monitoring market has been segmented into vibration analyzer, embedded systems, and vibration meters.
o Based on Deployment, the global vibration monitoring market is segmented into on-premise and cloud.
o On the basis of End-User, the vibration monitoring market has been segmented into automotive, chemicals, metal & mining, food & beverage, oil& gas.

Regional Analysis:

The global vibration monitoring market, on the basis of region, has been segmented into Asia Pacific (APAC), North America, the Middle East & Africa (MEA), Europe, and South America. North America is presently leading the expansion of the market. It is anticipated to maintain its firm standing at the forefront position in the global market place over the next couple of years, which is attributable to the large-scale adoption of technology across different industries. The launch of innovative products by key players based out of the region is also poised to impact the growth pattern of the vibration monitoring market favorably in the years to come. Asia Pacific, meanwhile, is prognosticated to exhibit a relatively higher CAGR over the review period.

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Intended Audience

o Raw material providers
o Vibration monitoring manufacturers
o Original equipment manufacturers
o Research organizations and consulting companies
o Vibration monitoring-related associations
o Distributors and traders
o Government bodies
o Semiconductor product designers and fabricators
o Research institutes and organizations
o Technology standards organizations
o Technology investors
o Research institutes,
o System Integrators
o Research/Consultancy firms

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This release was published on openPR.