Driving factors for vibration monitoring market
"Embedded Systems accounted for the majority of the global vibration monitoring market share in 2019."
The embedded systems segment led the vibration monitoring industry in 2019. 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.
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The hardware segment is expected to lead the vibration monitoring market during 2020-2025.
Hardware components offered by vibration monitoring solution providers mainly include accelerometers, proximity probes, velocity sensors, and transmitters. These devices are considered to be the main components of vibration monitoring systems. They are the primary source through which the data related to vibration levels in machinery is obtained well in advance.
The data extracted by the hardware components enables an effective predictive maintenance program to avoid costly downtime. The vibration monitoring hardware has applications in fields including rotating machinery such as motors, pumps, turbines, bearings, fans, broken or bent parts, and shaft alignment.
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.
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MarketsandMarkets(TM) 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(TM) for their painpoints around revenues decisions.
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