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Vibration Sensor Market Outlook and Growth Projections 2024
Vibration Sensor Market Outlook
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According to The Business Research Company's, The vibration sensor market size has grown strongly in recent years. It will grow from $4.06 billion in 2023 to $4.41 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to machinery health monitoring, regulatory compliance, predictive maintenance, growing demand for predictive maintenance, roth in awareness of vibration-related issues.
The vibration sensor market size is expected to see strong growth in the next few years. It will grow to $6.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to condition monitoring as a service (cmaas), energy harvesting sensors, consumer electronics integration, growing focus on safety and environmental compliance, increasing adoption of industrial internet of things (iiot).. Major trends in the forecast period include wireless vibration sensors, industry 4.0 and smart manufacturing, edge computing, condition monitoring as a service (cmaas), mems vibration sensors..
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Market Drivers and Trends:
The growing airline industry is expected to propel the growth of the vibration sensor market. In aircraft, vibration analysis is carried out on engines to check vibration levels and ensure no cracking, functioning avionics, and engine performance. According to Boeing's 2020-2039 commercial market outlook, India's domestic air passenger market is expected to double its size by 2030, from pre-pandemic levels, creating demand for an additional 2,200 new commercial aircraft in the next 20 years in India. Hence, the growing airline industry is expected to contribute to the demand for vibration sensors, thus driving the growth of vibration sensor market during the forecast period.
Technological advancements are a key trend gaining popularity in the vibration sensors market. Technological advancement is the discovery of knowledge that advances technology. For instance, in January 2023, NSXe Co. Ltd., a Japan-based company providing services for mechanical equipment installation and maintenance, launched conanair, a Wi-Fi vibration sensor that enables users to detect bearing damage at a much lower cost than before. In wireless communication systems that have to handle high-frequency transmissions, 'Under Sampling' technology is usually utilized. Even at low sampling frequencies, it efficiently handles high-frequency signals by utilizing aliasing noise.
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Major Key Players of the Market:
TE Connectivity Ltd., Honeywell International Inc., Emerson Electric Co., Robert Bosch GmbH, Dytran Instruments Inc., Fluke Corporation, NXP Semiconductors N.V., FUTEK Advanced Sensor Technology Inc., Hansford Sensors Ltd., Keyence Corporation, Colibrys Ltd., DIS Sensors, SKF GmbH, Texas Instruments Incorporated, Omron Corp., PCB Piezotronics, Rockwell Automation Inc., Siemens AG, STMicroelectronics NV, ams OSRAM AG, Endevco Corporation, PCB Piezotronics Inc., Sound and Vibration Measurement A/S, VTI Technologies Oy, MTS Systems Corporation, Hottinger Baldwin Messtechnik GmbH, Sensata Technologies Inc., LORD Corporation, GE Aviation Inc., United Technologies Corporation, Parker Hannifin Corporation, Meggitt plc, Rolls-Royce plc, Safran SA, Danaher Corporation, Teledyne Technologies Incorporated, Kistler Group
Vibration Sensor Market 2024 Key Insights:
• The vibration sensor market size is expected to see strong growth in the next few years. It will grow to $6.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Growing Airline Industry Boosting Vibration Sensor Market
• Rising Technological Advancements In Vibration Sensors Market
• North America will be the largest region in the vibration sensor market share in 2023
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