Press release
At 6.6% CAGR, Vibration Monitoring Market to Reach $2.17 Billion by 2027 | SKF AB, Emerson Electric Co., General Electric, Meggitt PLC, National Instruments Corp., Rockwell Automation Inc., Honeywell Inc., Schaeffler Technologies, and Analog Devices Inc
Vibration Monitoring Market
Allied Market Research published a report, titled, "Vibration Monitoring Market by Component (Hardware, Software, and Services), System Type (Embedded Systems, Vibration Analyzers, and Vibration Meters), Monitoring Process (Online and Portable), and End Use (Energy & Power, Metals & Mining, Oil & Gas, Automotive, Food & Beverages, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027" According to the report, the global Vibration monitoring industry generated $1.33 billion in 2019, and is expected to reach $.2.17 billion by 2027, witnessing a CAGR of 6.6% from 2020 to 2027.
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The major companies profiled in the vibration monitoring market share include SKF AB, Emerson Electric Co., General Electric, Meggitt PLC, National Instruments Corp., Rockwell Automation Inc., Honeywell International Inc., Schaeffler Technologies AG & Co. KG, Bruel & Kiaer Sound & Vibration Measurement A/S, and Analog Devices Inc., and others.
Key Benefits For Stakeholders
• This study comprises analytical depiction of the global vibration monitoring market share along with the current trends and future estimations to depict the imminent investment pockets.
• The overall vibration monitoring market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current vibration monitoring market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.
North America to offer lucrative opportunities-
Based on region, North America contributed to the largest share of the global vibration monitoring market, accounting for nearly three-fifths of the total share in 2019, and will maintain its lead position throughout the forecast period. The region has large number of industries which demands higher deployment of vibration monitoring systems, thereby driving the growth of the market globally. Nevertheless, this Asia-Pacific region is expected to portray at the highest CAGR of 8.0% from 2020 to 2027. Asia-Pacific is one of the fastest growing region in terms of industrial economy, which is why it is anticipated to provide massive contribution to the growth of the global market.
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The embedded system segment to continue its leadership status during the forecast period
Based on system type, the embedded system segment accounted for the highest market share in 2019, contributing to more than half of the total share of the global vibration monitoring market, and is estimated to continue its leadership status throughout the forecast period. In addition, the same segment is estimated to grow at the fastest CAGR of 7.3% from 2020 to 2027. Embedded system comprises of a complete package which provides the user with hardware, software and services provided by the market player and reduces the effort of the buyer. This factor drives the growth of the segment.
The automotive segment to maintain its highest share during the forecast period
Based on monitoring process, the online segment contributed to the largest market share, holding nearly three-fifths of the total share of the global vibration monitoring market in 2019, and is projected to maintain its highest share by 2027. Moreover, this segment is also projected to maintain the highest CAGR of 7.0% during the forecast period. Online monitoring process allows user to connect the devices with IIoT along with providing a real time view on asset for efficient predictive maintenance. This, in turn, proliferates the growth of the segment.
Covid-19 Scenario
• Due to the outbreak of covid-19, the process of vibration monitoring system development has been delayed.
• The slowdown in industrial growth, on the other hand, has further affected the market growth.
Get detailed COVID-19 impact analysis on the Vibration Monitoring Market: https://www.alliedmarketresearch.com/request-for-customization/5934?reqfor=covid
Vibration Monitoring Market Segmentation
By Component
• Hardware
• Software
• Services
By System Type
• Embedded Systems
• Vibration Analyzers
• Vibration Meters
By Monitoring Process
• Online
• Portable
By End Use
• Energy & Power
• Metals & Mining
• Oil & Gas
• Automotive
• Food & Beverages
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o UK
o Italy
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa
Report Summary:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: VIBRATION MONITORING MARKET, BY COMPONENT
CHAPTER 5: VIBRATION MONITORING MARKET, BY SYSTEM TYPE
CHAPTER 6: VIBRATION MONITORING MARKET, BY MONITORING PROCESS
CHAPTER 7: VIBRATION MONITORING MARKET, BY END-USE
CHAPTER 7: VIBRATION MONITORING MARKET, BY REGION
CHAPTER 8: COMPANY PROFILE
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help@alliedmarketresearch.com
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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