Vibration Monitoring Industry: Growing Demand For Automation Condition Monitoring Technologies To Fuel The Market

The global Vibration Monitoring market size was valued at $1.42 Billion in 2020 and is expected to reach $2.53 Billion by 2028 growing at the CAGR of 7.40% from 2021 to 2028.

The growing demand from HVAC, rising capital investments in different industries such as pulp and paper, heavy equipment manufacturing, petrochemicals, chemicals, and metals is proving to be the major factor bolstering the global vibration monitoring market. The rising demand for automation condition monitoring technologies can be a key factor supporting this market to a significant degree over the forecast period. The need to avoid untoward catastrophic breakdowns and maintenance costs in various production processes is also propelling this sector's growth.

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Key Players

Some of the major Vibration Monitoring players holding high market share include Emerson Electric, General Electric, and Honeywell International. These players use acquisition and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Emerson Electric
● General Electric
● Honeywell International
● SKF
● National Instruments
● Meggitt
● Rockwell Automation
● Brüel & Kjaer
● Analog Devices
● Bruel & Kiaer Sound & Vibration Measurement A/S

The recently published research report on Global Vibration Monitoring Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Vibration Monitoring market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Vibration Monitoring market report also includes the following data points:
● COVID19 Impact on Vibration Monitoring market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in the Vibration Monitoring market

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Segmental Analysis

Market Segment By Offering with focus on market share, consumption trend, and growth rate of Vibration Monitoring Market:
o Hardware
o Software

Market Segment By System Type with focus on market share, consumption trend, and growth rate of Vibration Monitoring Market:
o Embedded systems
o Vibration meters
o Vibration analyzers

Market Segment By Monitoring Process with a focus on market share, consumption trend, and growth rate of Vibration Monitoring Market:
o Online
o Portable

For more information: https://evolvebi.com/product/vibration-monitoring-market-analysis-2021-2028/

Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

The vibration monitoring market is geographically segmented into Europe, North America, the Asia Pacific (APAC), South America, & the Middle East and Africa (MEA). Of these, North America will lead the market over the forecast period. The growing adoption of technologically advanced solutions in different end-use industries, a growing number of manufacturers offering vibration monitoring solutions, the presence of leading market players, increased R&D activities, and easy adoption of advanced technology in different end-use industries are adding to the global vibration monitoring market growth in the region.

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