Vibration Monitoring Market : Sovereign Companies - Emerson Electric, General Electric, Honeywell International Inc, National Instruments, AB SKF, Rockwell Automation, Inc, Meggitt, and Analog Devices, Inc.

What are the factors that will drive vibration monitoring market trends through 2026?

Growing focus on predictive analysis for efficient working of machinery in industries is likely to drive vibration monitoring market outlook. A vibration monitoring system is a set of tools that are employed to measure certain parameters for identifying changes in the behavior of the machinery. The main purpose of this vibration analysis is to aid scheduling of maintenance activities based on a process called predictive analysis for avoiding machinery malfunctioning or failure.

Development of smart factories across the globe will fuel the demand for vibration monitoring systems in the coming years. The integration of technologies, like AI, IoT and smart sensors, has significantly improved the performance of these systems. The integration of these systems with smart factories allows better vibration analysis of machineries through smooth exchange of information from process visualization, critical machinery as well as plant operators in real-time scenario.

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Shifting focus toward predictive maintenance to augment machine functionality and safety are they key factors that may fuel product demand. Estimates suggests that global vibration monitoring market size will exceed USD 2 billion in terms of annual valuation by 2026.

How will vibration monitoring industry gain from food & beverage applications?

Vibration monitoring is an indispensable part in the predictive maintenance of machinery used in food & beverage production. The vibration monitoring sensors and systems aid early identification of equipment faults on pumps, fans, bearings, motors, conveyors, and others. The food & beverage industry has made a major shift to smart sensor technology for identification of minute variations in the manufacturing process.

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Hardware components like vibration monitoring accelerometers and sensors, are witnessing robust deployment in the sector. These components offer high accuracy regarding the malfunctioning of machinery and can operate in wide temperature range.

With growing global food consumption, food & beverage industry is estimated to exhibit a notable growth rate over the coming years. Global expansion on F&B manufacturing facilities will bolster the adoption of vibration monitoring accelerators and sensors.

Why are vibration meters expected to witness increased demand across the industrial sector?

Vibration meters are experiencing high demand as the product offers improved plant and industrial vibration testing and monitoring capabilities. Estimates suggests that revenues from vibration meters will grow at 3% between 2020-2026, owing to precise and instant result generation as well as low product costs.

Vibration meters do not require any mobile device or computer for analyzing the vibration data. The results generated by these systems appear in the form of analog and digital output, which can be easily understood by anyone without technical knowledge. Development of advanced vibration meter for a wide range of industries is likely to fuel product proliferation in the coming years.

Monnit Corporation, a leading IoT remote monitoring solutions and wireless sensors provider announced plans in 2019 regarding the launch of ALTA, its advanced vibration meter with wireless features for civil infrastructure and various other industrial applications.

What are the key trends influencing Europe vibration monitoring market outlook?

In 2019, Europe vibration monitoring market held over 15% of the global share and is poised to exhibit moderate growth on account of the established automotive sector, with the presence of major auto manufacturers including BMW, Audi, Bentley, Volkswagen, among others. These auto manufacturers are experiencing high demand for electric vehicles, majorly due to emission regulations across the region.

This has led to significant increase in number of units produced every day, which in turn require continuous monitoring to reduce machine failure and enhance their production output. As per the EAMA (European Automobile Manufacturer Association) 16.5 million vehicles were produced in 2018, which was up by 1.47% from previous five years.

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Global Market Insights, Inc.
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This release was published on openPR.