Industrial Vibration Sensor Market to grow by USD 3.32 billion from 2022 to 2027 | Growing need for intelligent and compact vibration sensors to drive the growth- Technavio

NEW YORK, Oct. 20, 2023 /PRNewswire/ -- The industrial vibration sensor market is expected to grow by USD 3.32 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 7.95% during the forecast period. The market is segmented by end-user (process industries and discrete industries), product (acceleration sensor, displacement sensor, velocity sensor, and others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). The report also covers information on trends and challenges. Explore detailed information by purchasing a report

The growing need for intelligent and compact vibration sensors is a key factor driving market growth. The increasing demand for sensors in several sectors of the end-user industry is a result of improved integrated and modular sensor designs. Devices such as micro-electromechanical systems (MEMS) and nanoelectromechanical systems (NEMS) are highly sensitive to different stimuli such as temperature, pressure, and even the presence of an obstruction. Moreover, the players in the market are offering their customers innovative sensor technologies. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the industrial vibration sensor market: AB SKF, ABB Ltd., Analog Devices Inc., CEC Vibration Products, Electro Sensors Inc., Hansford Sensors Ltd., Hofmann Mess und Auswuchttechnik GmbH and Co. KG, ifm electronic GmbH, Metra measurement and frequency technology in Radebeul eK, Monitran Ltd., Montronix GmbH, Murata Manufacturing Co. Ltd., OMRON Corp., PCB Piezotronics Inc., ROGA Instruments, Safran SA, Schaeffler AG, Sensonics Ltd., StrainSense Ltd., and TE Connectivity Ltd.
• Industrial Vibration Sensor Market is fragmented in nature.
• Market to observe 7.65% YOY growth in 2023.

Market Dynamics:

Major Trend

• The emergence of fiber optic sensors is a major trend in the market.
• These sensors are in high demand for heavy equipment due to their compactness, lightness, and sensitivity to chemicals and electromagnetic fields.
• Moreover, those sensors can be used as part of systems that have low impact and make them suitable for real-time monitoring.

Significant Challenge

• Lack of awareness and adherence to regulations is a significant challenge restricting market growth.
• Inadequate training, planning, regulatory compliance, and inspection have increased the number of workplace accidents in a variety of sectors.
• In addition, many companies and workers do not know how to train their staff or wear protective gear in the case of a hazardous environment because they fail to take account of precautionary measures and safety monitoring.

Keg Segments:

• The acceleration sensor segment holds the largest market share. The speed sensors or accelerometers, which are excellent at the measurement of a large frequency spectrum, can achieve higher signal-to-noise ratios in all dynamic ranges. Moreover, accelerometers have advantages such as low size, suitable for confined spaces, reliable longwave response, and resilience to hot temperatures.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio