Global Vibration Monitoring Market to Reach US$ 2.6 Billion by 2032, Fostered by Expanding Automotive Industry

April 12, 2023 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled "Vibration Monitoring Market Report by Component (Hardware, Software, Services), System Type (Embedded Systems, Vibration Analyzers, Vibration Meters), Monitoring Process (Online, Portable), End Use Industry (Energy and Power, Metals and Mining, Oil and Gas, Automotive, Food and Beverages, and Others), and Region 2024-2032," the global vibration monitoring market size reached US$ 1.6 Billion in 2023. Vibration monitoring is a technique used to detect and analyze the vibration levels of machinery and equipment in order to identify any potential faults or failures. It is an effective method of identifying various potential faults, such as imbalance, mechanical looseness, bearing failures, misalignment, resonance and natural frequencies, electrical motor faults, gearbox failures, empty space or bubbles in pumps, and critical speeds. It prolongs the lifespan of equipment by identifying early signs of wear and tear, providing real-time analysis of changes in equipment health conditions, supporting remote conditioning monitoring, and ensuring the safety of workers and the environment. The technique is capable of generating fast fourier transform (FFT) with high resolution, making it a widely used monitoring tool for rotary equipment, such as compressors, pumps, turbines, and fans. 

Global Vibration Monitoring Market Trends:

The increasing application of vibration monitoring systems in the automotive industry is driving the global market. This can be attributed to their assistance in increasing productivity, minimizing downtime due to superior analytics, and decreasing human-mediated activities, including manual inspections and unscheduled corrections. Moreover, the rising demand for predictive maintenance, as it helps to reduce unplanned downtime and extend the life of equipment is catalyzing the market. Additionally, the widespread adoption of wireless technology in vibration monitoring systems has made it easier and more cost-effective to monitor equipment remotely, thus creating a positive market outlook. In line with this, the increasing emphasis on safety and sustainability is also driving the growth of the vibration monitoring market. On account of rapid industrialization, there is a growing need for machinery and equipment, which, in turn, is escalating the demand for vibration monitoring systems to ensure safe and efficient operations. Furthermore, several leading players are integrating wireless technology and cloud storage with vibration monitoring systems to enable smart maintenance of factory equipment, thus creating a positive market outlook. Along with this, continuous developments in advanced technologies, such as system-on-a-chip (SOC) that allow real-time accurate data acquisition to be relayed immediately on smartphones, are acting as another growth-inducing factor. The market is further driven by the rapid industrialization and the introduction of online monitoring systems with onboard logic and decision-making capabilities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032. 

Market Summary:

  • On the basis of the component, the market has been divided into hardware, software, and services.
  • Based on the system type, the market has been segmented into embedded systems, vibration analyzers, and vibration meters.
  • On the basis of the monitoring process, the market has been bifurcated into online and portable.
  • Based on the end-user industry, the market has been classified into energy and power, metals and mining, oil and gas, automotive, food and beverages, and others.
  • On the basis of the region, the market has been categorized into North America (the United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Analog Devices Inc., Emerson Electric Company, Erbessd Instruments Technologies Inc., General Electric Company, Honeywell International Inc., Istec International, Meggit SA, National Instruments, Parker-Hannifin Corp., Petasense Inc., Rockwell Automation Inc., Schaeffler AG and SPM Instrument AB.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
 Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Component, System Type, Monitoring Process, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Analog Devices Inc., Emerson Electric Company, Erbessd Instruments Technologies Inc., General Electric Company, Honeywell International Inc., Istec International, Meggit SA, National Instruments, Parker-Hannifin Corp., Petasense Inc., Rockwell Automation Inc., Schaeffler AG and SPM Instrument AB
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Global Vibration Monitoring Market to Reach US$ 2.6 Billion by 2032, Fostered by Expanding Automotive Industry
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