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The Vibration Monitoring Market is segmented by Type (Displacement, Velocity, Accelerometer), End-User Industry (Food & Beverage, Energy & Power, Mining) and Geography.
Fastest Growing Market:
The vibration monitoring market was valued at USD 1230.79 million in 2019, and is expected to reach a value of USD 1690.57 million by 2025, at a CAGR of 5.43%, during the forecast period 2020-2025. Maintenance processes have become more streamlined than production processes, and have ample scope for optimization, thus propelling the growth of the machine maintenance industry. Increased productivity and minimal downtime due to superior monitoring, such as predictive maintenance, is the most recognized benefits, which can also prolong maintenance intervals far beyond preventive maintenance schedules.
Vibration monitoring is among the core concepts of dynamic control for industrial machinery. With the evolution of technology, current vibration monitoring systems that integrate the complexity and performance are capable to deliver exhaustive, and almost a real-time diagnostic information to the workers on the actual dynamic condition and performance of the machines. Structural vibration monitoring is also one component of the market which is of huge importance as a target for business generation in the market for the vendors .
|By End-user Industry|
|Oil & Gas|
|Energy & Power|
|Food & Beverage|
|Other End-user Industries|
|Middle-East & Africa|
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The vibration monitoring market is highly competitive and consists of several major players. In terms of market share, market share is fragmented with limited market dominance. However, with innovative solution offering and predictive analytics integration, many of the market players are increasing their market worth by product and services differentiation. The current market competitive landscape is characterized by fierce competition between different manufacturers which has emerged owing to the huge competition for the industries for the continuous and proper functioning of industrial equipment. Vibration monitoring differs from predictive analytics and monitoring more towards timing. It monitors the health and condition of a rotating asset like a pump, fan, compressor, mixer, agitator, or conveyor.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Awareness Toward Predictive Maintenance and Augment it with Analytics
4.3.2 Increasing Use of Wireless Systems for Vibration Monitoring
4.4 Market Restraints
4.4.1 Lack of Customization and High Initial Investment
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Technology Snapshot
5. MARKET SEGMENTATION
5.1 By Type
220.127.116.11 Other Hardwares
5.2 By End-user Industry
5.2.2 Oil & Gas
5.2.3 Energy & Power
5.2.5 Food & Beverage
5.2.7 Other End-user Industries
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.3.4 Latin America
184.108.40.206 Rest of Latin America
5.3.5 Middle-East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Rockwell Automation, Inc.
6.1.2 National Instruments Corporation
6.1.3 General Electric Corporation
6.1.4 Emerson Electric Company
6.1.5 Honeywell International Inc.
6.1.6 Bruel & Kjaer Sound & Vibration Measurement
6.1.7 Meggit PLC
6.1.8 Analog Devices Inc.
6.1.9 SPM Instrument AB
6.1.10 Schaeffler AG
6.1.11 PCB Piezotronics Inc.
6.1.12 Azima DLI Corporation
6.1.13 Data Physics Corporation
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS