Global Vibration Monitoring Market Outlook 2020-2030

Global Vibration Monitoring Market Analysis 2020-2030

Vibration monitoring is the procedure of using sensors to keep a check on the small movements of different types of rotating machinery. Rising vibration levels can be an indication of a developing failure, malfunction, or process restriction. Constant monitoring of vibration of rotating equipment is an important component of a successful predictive maintenance program and can lead to a decrease in unscheduled outages, optimization of machine performance, and reduction of repair as a result of reducing the maintenance costs. The global vibration monitoring market is anticipated to grow with a CAGR of 6.13% over the forecast period, i.e., 2021 - 2030. Factors such as the growing adoption of automated machines, shift of industries from Industry 4.0 to Industry 5.0, and the need amongst owner of machines in industries to analyze an error in an early manner, are anticipated to drive the market growth in the coming years. The market is estimated to garner a revenue of around USD 2400 Million by the end of 2030, up from a revenue of about USD 1350 Million in the year 2020.

The global vibration monitoring market is segmented by numerous segments, which include segmentation by component, deployment type, monitoring process type, monitoring system type, industry vertical, and by region. By component, the market is segmented into hardware, software, and services. The hardware segment, out of all the segments, is anticipated to register the largest revenue of close to USD 1410 Million by the end of 2030, up from a revenue of around USD 840 Million in the year 2020.

Geographically, the global vibration monitoring market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region, out of all the market in all the regions, is anticipated to garner the largest revenue of near to USD 780 Million by the end of 2030. Moreover, the market generated a revenue of over USD 400 Million in the year 2020.

Some of the prominent industry leaders in the global vibration monitoring market that are included in our report are STMicroelectronics, Honeywell International Inc., General Electric, National Instruments Corporation, Rockwell Automation, Inc., Schaeffler AG, Analog Devices, Inc., SPM Instrument AB, Emerson Electric Company, Meggitt PLC, and others.