Vibration Sensor Market
The Vibration Sensors Market was reached USD 3.6 billion in 2021, and expected to reach USD 6.5 billion in 2029, expanding at a significant CAGR of 7.6% during 2022-2029.
The factors driving the growth of Vibration Sensor Market includes rise in the number of smart factories, increasing use of wireless systems to monitor machine’s condition and growing demand for Micro-Electromechanical System (MEMS) in the Automotive and Aerospace & Defense sectors. According to the report published by Statista, the Global Smart Factory Market was estimated around USD 153.7 billion in 2019 and is expected to reach USD 244.8 billion in 2024, which will accelerate Vibration Sensors Market size in the approaching years. Moreover, growing popularity of predictive maintenance, technological innovations in the vibration sensors, increasing adoption of smart home security appliances and rising application of vibration sensors at the railway tracks to monitor the discrepancies in rails, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rising disposable incomes, growing population growth rates and improvements in the living standards, are further contributing to the market growth.
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The leading players operating in the market are NXP Semiconductors, Robert Bosch, Rockwell Automation Inc., Baker Hughes Company, SKF, TE Connectivity, Omron Corporation, Emerson Electric, Honeywell International Inc., and Dytran Instruments, Inc., among others.
However, the growth of Vibration Sensor Market is hindered due to strict regulations imposed by Government.
Based on Process Type, the Online Vibration Monitoring segment is predicted to expand at a significant CAGR during the forecast period
As per the Vibration Sensor Market Forecast, online Vibration monitoring systems delivers real time machine data to plant operators and increasingly used in important plants that work continuously, are some of the factors responsible for the segment’s growth.
Based on End User, the Automotive segment is projected to grow at a remarkable CAGR over the forecast period
Rising emphasis on automating the assembly lines and growing demand for non-destructive testing solutions in the automobile industry, are propelling the growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period
Rapid growth in the manufacturing industries across India, China, Indonesia, and Vietnam, growing demand for home security appliances, rising disposable incomes and rapid urbanization, are some of the important factors supplementing the market growth in Asia-Pacific.
Key Developments
- In 2020, SKF launched SKF Enlight Collect IMx-1, which will reduce customer’s maintenance and unexpected downtime costs.
Market Segmentation
Segmentation by Type
- Accelerometer
- Velocity Sensor
- Proximity Probe
- Displacement Sensor
Segmentation by Process Type
- Portable Vibration Monitoring
- Online Vibration Monitoring
Segmentation by Equipment Type
- Vibration Analyzer
- Embedded Systems
- Vibration Meter
Segmentation by End User
- Oil & Gas
- Metals & Mining
- Energy & Power
- Automotive
- Healthcare
- Electronics & Semiconductor
- Others
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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