Vibration Monitoring Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software, Services); By Monitoring Process (Online, Offline); By End-Use; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 117
- Format: PDF
- Report ID: PM1628
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global vibration monitoring market was valued at USD 2.62 billion in 2023 and is expected to grow at a CAGR of 6.40% during the forecast period.
Vibration monitoring is a method of predicting maintenance that involves measuring the displacement, velocity of vibration signals, and acceleration. Resonance, mechanical looseness, misalignment, natural frequencies, electrical motor issues, bent shafts, gearbox failures, space or bubbles in pumps, and critical speeds are all detected through vibration monitoring.
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The use of a vibration monitoring system, even for a single channel, is one of the best ways to anticipate a potential machine issue and provide early warning of machine failure. The most effective shock and vibration monitoring equipment now connects to the Internet via Wi-Fi, sending data about machine functionality to all relevant members of an engineering team at once. Furthermore, major technological advancements and innovations in vibration sensor product design, as well as the incorporation of Artificial Intelligence (AI) algorithms in vibration monitoring systems and sensors, are key factors driving the market.
- For instance, Israeli researchers developed an AI-based vibration-monitoring chip that processes vibration data internally, significantly reducing the amount of data that must be communicated to the cloud, lowering power consumption and assisting energy-harvesting designs.
Vibration condition monitoring equipment is used to measure the vibration levels produced by rotational and reciprocating machinery. It is done with sensors that collect information about frequency and amplitude in order to measure machine vibration patterns. Vibration monitoring is critical for tracking and assessing changes in the condition of mechanical parts such as gears and bearings, as well as predicting part or equipment failure. The emergence of sophisticated Internet of Things (IoT) technology and services is transforming the majority of industrial applications.
The COVID-19 pandemic had a significant impact on the vibration monitoring market. Due to widespread economic uncertainty, temporary shutdowns, and reduced industrial activities, demand for vibration monitoring systems fell in the first phase. However, the market recovered as industries adjusted to new norms and prioritized maintenance to ensure operational reliability. The demand for remote monitoring solutions grew, propelling the development of advanced vibration monitoring technologies. Overall, the pandemic has accelerated the market's shift toward digitalization and smart monitoring solutions.
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The growing acceptance of automated condition-monitoring technologies and the widespread integration of smart factories, as well as the emergence of secure cloud computing platforms for condition monitoring, are expected to be key drivers of market growth. Furthermore, the growing demand for vibration monitoring is propelling the market forward. Vibration monitoring is critical in remotely overseeing and managing plant operations by leveraging real-time data gathered from various equipment, reducing the need for human intervention in plant supervision.
Industry Dynamics
Growth Drivers
- Increasing demand for preventive maintenance in the industrial plants will drive the growth of the market
The rising demand for preventive maintenance in the industrial plants will drive the growth of the vibration monitoring market. These systems help in the elimination of human involvement in plant supervision by monitoring and directing operations from remote locations using real-time data collected from various devices. As a result, more advanced vibration monitoring systems are being used in more industries to prevent monetary losses caused by maintenance errors.
Preventive maintenance increases the output, product quality, and overall efficiency of manufacturing and industrial plants. It also reduces downtime and the number of unnecessary stops, as well as the cost of repairs. Predictive maintenance work, such as installing sensors, retrieving information, maintaining models, and performing maintenance, helps to reduce maintenance costs.
Report Segmentation
The market is primarily segmented based on component, monitoring process, end-use and region.
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By Component |
By Monitoring Process |
By End-Use |
By Region |
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By Component Analysis
- The software segment accounted for the largest revenue share in 2022
In 2022, the software segment accounted for the largest revenue share. This is due to a number of product launches that combine software with vibration monitoring equipment. There are open solutions for vibration monitoring components available today that are simple to integrate into the existing machine control system. Open designs use an Ethernet cable or a shared backplane to connect separate modules to the machine controller, making data transmission, filtering, and analysis simpler and more efficient.
On the other hand, the hardware segment is anticipated to witness fastest growth during the forecast period. This is due to the growing use of Piezo-electric sensors, which offer superior resolution and dynamic range as well as reliable and secure wireless connectivity. Vibration monitoring hardware consists of two types of sensors (transducers) used to measure vibration accelerometers and proximity probes.
By End-Use Analysis
- The oil & gas segment accounted for the highest market share during the forecast period
The oil & gas segment accounted for the highest market share during the forecast period, this is due to the oil and gas industry's contribution to the safe monitoring of vibration on machinery running in risky oil & gas operations such as offshore, petrochemical, refineries, and chemical. Furthermore, major oil and gas companies are introducing technologically advanced vibration monitoring systems, which will drive the growth of this segment in the forecast period.
Regional Insights
- North America accounted for the largest market in 2022
In 2022, North America accounted for the largest market share in the vibration monitoring market. The need for vibration monitoring technologies and devices in North America is propelled by distinct factors, including an increased focus on optimizing resource utilization, stringent regulatory shifts to enhance employee and staff safety, and rigorous quality control standards within industries such as oil and gas, pesticides, and beverages. The increasing requirement for vibration monitoring systems in the United States is driven by a concentrated focus on facility equipment management, is driven by the presence of key market players like Honeywell International and National Instruments.
Asia Pacific is accounted for the fastest growth in the vibration monitoring market. The expansion of manufacturing activities as a result of the migration of manufacturing bases to Asian countries such as China, India, and South Korea due to low labor costs is also driving demand for vibration monitoring systems in the region. China and India are the two most significant contributors to regional market growth. China is a manufacturing hub and, is increasing infrastructure and power sector investments. For instance, the Chinese government has announced investments totaling $78 billion in the development of 110 nuclear power plants, with operations set to begin in the near future.
Key Market Players & Competitive Insights
The market is characterized by intense competition, with established players relying on advanced technology, high-quality products, and a strong brand image to drive revenue growth. These companies employ various strategies such as research and development, mergers and acquisitions, and technological innovations to expand their product portfolios and maintain a competitive edge in the market.
Some of the major players operating in the global market include:
- Analog Devices, Inc.
- Azima DLI Corporation
- Bruel & Kiaer Sound & Vibration Measurement A/S
- Emerson Electric Co.
- General Electric
- Honeywell International Inc.
- Meggitt PLC
- National Instruments Corporation
- Schaeffler AG
- SKF AB
Recent Developments
- In August 2022, Rockwell Automation Inc. partnered with Bravo Motor Company, a California-based manufacturer of batteries, automobiles, and energy-storage systems. Automotive manufacturers use noise, vibration, and harshness (NVH) testing to improve vehicle performance and maintain a consistent level of comfort across their vehicle lineup.
- In April 2022, Banner Engineering has launched the latest IIot product named Snap Signal. It collects data from a wide range of industrial machine devices and converts it into a standardized protocol, easing the transition to Industry 4.0 and improving overall production capabilities. The Snap Signal product suite is the foundation for building a versatile, brand-agnostic IIoT platform with modular hardware and software components. Using Snap Signal opens the door to realizing the full potential of facilities in applications such as vibration monitoring systems.
- In September 2021, Reality AI and Fujitsu Component announced a collaboration to provide contactless vibration sensing powered by Machine Learning to the manufacturing and industrial industries. Because the sensor uses doppler radar to detect extremely small vibrations, it was used for vibration detection applications where human touch is impractical or impossible.
Vibration Monitoring Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 2.77 billion |
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Revenue forecast in 2032 |
USD 4.55 billion |
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CAGR |
6.40% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Component, By Monitoring Process, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation |
We provide our clients the option to personalize the Vibration Monitoring Market report to suit their needs. By customizing the report, you can get data as per your format and definition. Also, the customization option allows you to gain a deeper dive into a specific segment, region, customer, or market competitor.
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FAQ's
The vibration monitoring market report covering key segments are component, monitoring process, end-use and region
Vibration Monitoring Market Size Worth $4.55 Billion By 2032
The global vibration monitoring market is expected to grow at a CAGR of 6.3% during the forecast period.
North America is leading the global market
key driving factors in vibration monitoring market are Increasing use of monitoring and wireless systems will facilitate the growth of the market
