Press release
Vibration Monitoring Market Size Reach US$ 2.0 Billion by 2027 | CAGR of 6.76%
Vibration monitoring is a predictive maintenance technique that measures the displacement, velocity, and acceleration of vibration signals. It assists in identifying misalignment, imbalance, bearing failures, resonance and natural frequencies, gearbox failures, bent shafts, electrical motor faults, bubbles in pumps, and critical speeds. It aids in tracking asset health with temperature and vibration, providing real-time reaction to the change of health conditions, increasing the life of a machine, and supporting remote conditioning monitoring.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
Significant growth in the automotive industry represents one of the key factors strengthening the market growth. Moreover, vibration monitoring systems aid in increasing productivity, minimizing human-mediated activities and reducing downtime. This, coupled with the growing adoption of technologically advanced variants, is bolstering the market growth. New technologies, such as system-on-a-chip (SOC), are allowing real-time accurate data acquisition that can be relayed instantly on handheld devices. These innovations are projected to stimulate the growth of the market.
Breakup by Component:
Hardware
Software
Services
Breakup by System Type:
Embedded Systems
Vibration Analyzers
Vibration Meters
Breakup by Monitoring Process:
Online
Portable
Breakup by End Use Industry:
Energy and Power
Metals and Mining
Oil and Gas
Automotive
Food and Beverages
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Analog Devices Inc.
Emerson Electric Company
Erbessd Instruments Technologies Inc.
General Electric Company
Honeywell International Inc.
Istec International
Meggit SA
National Instruments
Parker-Hannifin Corp.
Petasense Inc.
Rockwell Automation Inc.
Schaeffler AG
SPM Instrument AB.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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