The vibration sensors market was valued at USD 2.0 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 8.2% from 2020 to 2025
NEW YORK, Sept. 25, 2020 /PRNewswire/ -- The vibration sensors market was valued at USD 2.0 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 8.2% from 2020 to 2025. A few key factors driving the growth of this market are growing adoption of automated condition monitoring technologies for the development of smart factories, rising use of wireless systems for machine condition monitoring, ongoing transition from preventive to predictive maintenance, and increasing demand for vibration sensors from emerging applications.
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Vibration sensors market for automotive industry to grow at the highest CAGR during forecast period
The automotive segment of the market is projected to grow at the highest CAGR during the forecast period.The global automotive industry is focusing on automating and upgrading assembly lines, which require motor monitoring systems and vibration sensors.
Motor current signature analysis helps reduce machine failures and extends the life of machines.The automotive industry is witnessing significant growth in the number of units produced per day.
The machinery on the production floor is required to be maintained properly to minimize the production cycle and increase production output.
Embedded systems to account for the largest size of vibration sensors market during the forecast period
The embedded systems segment is expected to hold the largest size of the vibration sensors market during the forecast period.Effective and continuous monitoring of machines through embedded systems, which are installed directly on machines, allows real-time assessment of the condition of machines, as well as enables the conduct of the optimized maintenance programs for them.
Embedded systems are ideal, complete, and reliable detection and analysis systems used to identify equipment defects, carry out performance evaluation, and analyze machine imbalances and other anomalies. These systems possess sensing, analysis, storage, and alarm capabilities and offer quick notifications related to vibration shifts.
North America to account for largest size of vibration sensors market during forecast period
North America is expected to hold the largest size of the vibration sensors market during the forecast period. The growing adoption of smart manufacturing solutions or Industry 4.0 in various industries has led to an increased demand for vibration sensors in the region. Moreover, increased focus on optimum asset utilization; stringent government regulations for the workplace and workforce safety; and tight quality control in the oil and gas, chemicals, and food and beverages industries are also driving the demand for vibration sensors in North America. However, The COVID-19 is expected to have a negative impact on the vibration sensors market in North America in 2020, owing to the closure of a number of manufacturing plants and the slowdown in the production activities in various industries of the region
Breakdown of the profile of primary participants:
• By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-level Executives – 35%, Directors – 25%, Others - 40%
• By Region: North America – 10%, Europe – 20%, APAC – 40%, and RoW – 30%
Baker Hughes Company (US), TE Connectivity (Switzerland), SKF (Sweden), Honeywell International Inc. (US), Emerson Electric Co. (US), Robert Bosch (Germany), NXP Semiconductors (Switzerland) Omron Corp. (Japan), Rockwell Automation Inc. (US), National Instruments (US), Robert Bosch (Germany), Dytran Instruments, Inc. (US), KEYENCE Corp. (Japan), Fluke Corp. (US), Wilcoxon Sensing Technologies (US), PCB Piezotronics (US), and SPM instrument (Sweden), are among the major players in the vibration sensors market.
Research Coverage
Based on monitoring process, the vibration sensors market has been segmented into online vibration monitoring and portable vibration monitoring.Based on type, the vibration sensors market has been classified into accelerometers, proximity probes, displacement sensors, and velocity sensors.
Based on industry, the vibration sensors market has been segmented into oil and gas, energy and power, metals and mining, automotive, chemicals, aerospace and defense, food and beverages, semiconductors and electronics, pharmaceuticals, healthcare, and others ( machine manufacturing, cement, railways, marine, and pulp and paper industries).Based on equipment, the vibration sensors market has been segmented into embedded systems, vibration analyzers, and vibration meters.
Based on region, the vibration sensors market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Reasons to Buy Report
The report would help market leaders/new entrants in the following ways:
1. This report segments the vibration sensors market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different types, monitoring process, equipment, industries, and regions.
2. The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape market share analysis and company evaluation quadrant for the players operating in the vibration sensors market.
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