Vibration Monitoring Industry 2020-2025: Digitization and Industrial Internet of Things (IIoT) to Unfold New Growth Avenues

(MENAFN- PR Newswire) DUBLIN, July 9, 2020 /PRNewswire/ -- The "Vibration Monitoring Market by Component (Hardware and Software), System Type (Embedded Systems, Vibration Analyzers, and Vibration Meters), Monitoring Process (Online and Portable), Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global Vibration Monitoring Market Size is Projected to be Valued at USD 1.5 Billion in 2020 to Reach USD 2.2 Billion by 2025, at a CAGR of 7.4%

This research report categorizes the vibration monitoring market based on offering, monitoring process, system type, industry, and geography. Moreover, the report describes the major drivers, restraints, challenges, and opportunities pertaining to this market, as well as the value chain analysis and market ranking analysis.

Vibration monitoring market is expected to grow at a high rate during 2020-2025. Vibration monitoring solutions have gradually become an integral part of the various industries for carrying out the predictive maintenance program effectively, with an aim to minimize costly breakdowns of machines affecting the production process.Factors such as the rising trend of remote monitoring through wireless systems, growing awareness toward predictive maintenance, increasing demand from emerging applications such as heating, ventilation and air conditioning (HAVC), and penetration of smart factories in major regions are driving the growth of the vibration monitoring market. Growth of vibration monitoring industry expected to be driven by the oil & gas industry during 2020-2025. The oil & gas industry is expected to hold a significant share of the global vibration monitoring market during the forecast period. The oil & gas industry uses extremely complex and expensive equipment such as boilers, pumps, generators, and piping network for their operations. These equipment consume a lot of power and generate an equally large amount of heat. Even a minor fault in the machine may lead to an increase in power consumption and process downtime or trigger the release of potent gases, leading to an explosion. Thus, vibration monitoring systems are in high demand in the oil & gas industry. Besides oil & gas, other industries that hold a significant share in the vibration monitoring industry are energy & power, metals & mining, and chemicals, among others. Vibration monitoring market in APAC to grow at the highest CAGR during the forecast period. The market for vibration monitoring in APAC is expected to grow at the highest CAGR between 2020 and 2025. Rapid industrialization, increasing adoption of predictive maintenance tools, and competitive pressure to achieve operational efficiency are fueling the growth of the vibration monitoring market in APAC. The expansion of manufacturing activities as a result of the migration of production bases to Asian countries with low labor costs, such as China, India, and South Korea, is driving the demand for vibration monitoring systems in the region.

Moreover, the report profiles the key players in the vibration monitoring market and analyzes their market ranking. The prominent players in this market are SKF (Sweden), Emerson Electric (US), General Electric (US), Meggitt (UK), National Instruments (US), Rockwell Automation (US), Honeywell International (US), Bruel & Kiaer (Denmark), and Analog Devices (US), among others.

Key Topics Covered

1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 4.1 Vibration Monitoring Market Expected to Have Huge Growth Opportunities in Apac4.2 Vibration Monitoring Market, by Monitoring Process (2017-2025)4.3 Vibration Monitoring Market, by System Type4.4 Vibration Monitoring Market, by Offering4.5 Vibration Monitoring Market, by Region 5 Market Overview 5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Rising Adoption of Wireless Systems in Machine Condition Monitoring5.2.1.2 Increasing Disposition Toward Predictive Maintenance5.2.1.3 High Demand From Emerging Applications5.2.1.4 Growing Adoption of Automated Condition Monitoring Technologies and Penetration of Smart Factory5.2.1.5 Advent of Secure Cloud Computing Platforms Used in Condition Monitoring5.2.2 Restraints5.2.2.1 Additional Retrofitting Costs for Vibration Monitoring Solutions on Existing Machinery5.2.2.2 Impact of Regulatory Standards5.2.2.3 Lack of Trained Technical Resources for Data Analysis5.2.3 Opportunities5.2.3.1 Development of Machine Learning and Big Data Analytics5.2.3.2 Digitization and Industrial Internet of Things (IIoT) to Unfold New Growth Avenues5.2.4 Challenges5.2.4.1 Accessibility to Expertise at Remote Locations5.2.4.2 Trend of Integration of Vibration Monitoring Systems With Other Maintenance Systems5.3 Value Chain Analysis 6 Route Monitoring Services and Procurement Types of Vibration Monitoring Equipment 6.1 Procurement Types of Vibration Monitoring Equipment6.1.1 Third-Party Service Providers (Indirect)6.1.2 End Users (Direct)6.2 Route-Based Vibration Monitoring Services 7 Vibration Monitoring Market, by Offering 7.1 Introduction7.2 Hardware7.2.1 Accelerometers7.2.1.1 Accelerometers Are Used in a Variety of Applications for Vibration Monitoring7.2.2 Proximity Probes7.2.2.1 Proximity Probes Monitor the Movement of Rotating Equipment and Detect Defects Such As Misalignment and Faulty Bearings7.2.3 Velocity Sensors7.2.3.1 Velocity Sensors Are Capable of Recording Low- to Medium-Frequency Measurements7.2.4 Transmitters7.2.4.1 Transmitters Are Significant Components of Vibration Monitoring Systems7.2.5 Others7.3 Software7.3.1 Data Integration7.3.1.1 Data Integration Plays a Vital Role in the Vibration Monitoring Process7.3.2 Diagnostic Reporting7.3.2.1 Diagnostic Reporting Helps in Understanding the Condition of Machines7.3.3 Parameter Calculation7.3.3.1 Maintenance Activities Are Largely Supported by the Parameter Calculation Function 8 Vibration Monitoring Market, by Monitoring Process 8.1 Introduction8.2 Online Vibration Monitoring8.2.1 Online Vibration Monitoring is Particularly Useful in Plants That Are Operating Continuously8.3 Portable Vibration Monitoring8.3.1 Portable Vibration Monitoring Supports in the Reduction of Maintenance Costs 9 Vibration Monitoring Market, by System Type 9.1 Introduction9.2 Embedded Systems9.2.1 Embedded Systems Are Largely Adopted in Oil & Gas and Energy & Power Industries9.3 Vibration Analyzers9.3.1 Vibration Data Gathered Through Vibration Analyzers Supports in Efficient Machine Condition Monitoring9.4 Vibration Meters9.4.1 Vibration Meters Are Mainly Used for Simple Readings of Vibration Measurement of Machines 10 Vibration Monitoring Market, by Industry 10.1 Introduction10.2 Oil & Gas10.2.1 Vibration Monitoring Solutions Play a Vital Role in the Oil & Gas Industry10.3 Energy & Power10.3.1 Rising Need for Predictive Maintenance by Power Generation Plants to Uplift the Vibration Monitoring Market10.4 Metals & Mining10.4.1 Demand for Remote Diagnostics in the Mining Industry to Support the Growth of the Vibration Monitoring Market10.5 Chemicals10.5.1 Vibration Monitoring is Used to Monitor Chemical Processes on a Real-Time Basis10.6 Automotive10.6.1 Online Vibration Monitoring Witnesses Higher Demand in the Automotive Industry10.7 Aerospace & Defense10.7.1 Vibration Monitoring Systems Help in Detecting Potential Faults in the Aerospace & Defense Industry10.8 Food & Beverages10.8.1 Vibration Monitoring Systems Largely Help in Maintaining the Product Quality in the Food & Beverages Industry Through Efficient Operations10.9 Marine10.9.1 Vibration Monitoring Majorly Helps in the Reduction of Potential Failures in Marine Machineries10.10 Pulp & Paper10.10.1 Need for Predictive Maintenance in the Pulp & Paper Industry to Boost the Growth of the Vibration Monitoring Market10.11 Others 11 Vibration Monitoring Market, by Region 11.1 Introduction11.2 North America11.2.1 Us11.2.1.1 Rising Adoption of Industry 4.0 to Support the Growth of the Vibration Monitoring Market11.2.2 Canada11.2.2.1 Oil & Gas and Aerospace Industries in Canada Are Largely Supporting the Growth of the Vibration Monitoring Market11.2.3 Mexico11.2.3.1 Increasing Adoption of Industrial Automation in the Country to Uplift the Vibration Monitoring Market11.3 Europe11.3.1 Uk11.3.1.1 Increasing Deployment of IIoT in the Manufacturing Sector to Boost the Vibration Monitoring Market in the Uk11.3.2 Germany11.3.2.1 Growth of Industry 4.0 to Boost the Vibration Monitoring Market in Germany11.3.3 France11.3.3.1 Focus and Technological R & D and Government Support to Fuel the Vibration Monitoring Market11.3.4 Rest of Europe11.4 Asia Pacific (Apac)11.4.1 China11.4.1.1 Increasing Adoption of Industrial Automation Fueling the Vibration Monitoring Market Growth in China11.4.2 Japan11.4.2.1 Notable Growth in the Automotive Industry to Drive the Market in Japan11.4.3 India11.4.3.1 Make in India Initiative to Drive the Adoption of Vibration Monitoring Solutions in the Manufacturing Sector11.4.4 Rest of Apac11.5 Rest of the World (RoW)11.5.1 Middle East11.5.1.1 Oil & Gas Sector in the Middle East is the Major Force Driving the Vibration Monitoring Market11.5.2 South America11.5.2.1 Investments by Asian Economies to Support Growth in the Region11.5.3 Africa11.5.3.1 Availability of Natural Resources Generating Opportunities for Rapid Growth of Mining, and Oil & Gas Industries in the Market 12 Competitive Landscape 12.1 Overview12.2 Market Ranking Analysis: Vibration Monitoring Market, 201912.3 Competitive Leadership Mapping12.3.1 Visionary Leaders12.3.2 Dynamic Differentiators12.3.3 Innovators12.3.4 Emerging Companies12.4 Competitive Situations and Trends12.4.1 Product Launches12.4.2 Collaborations, Mergers, Contracts 13 Company Profiles 13.1 Key Players13.1.1 Emerson Electric13.1.2 General Electric13.1.3 Honeywell International13.1.4 National Instruments13.1.5 SKF13.1.6 Rockwell Automation13.1.7 Schaeffler13.1.8 Bruel & Kjaer13.1.9 Meggitt13.1.10 Analog Devices13.2 Right-to-Win13.3 Other Players13.3.1 Fluke13.3.2 Symphony Azimaai13.3.3 PCB Piezotronics13.3.4 Parker-Hannifin13.3.5 SPM Instrument13.3.6 ALS13.3.7 Machine Saver13.3.8 Petasense13.3.9 Wilcoxon Sensing Technologies13.3.10 PCMS Engineering

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