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Research Nester released a report titled “ Vibration Monitoring Market : Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global vibration monitoring market in terms of market segmentation by component type, type of system, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global vibration monitoring market is projected to grow with a moderate CAGR during the forecast period, i.e., 2022-2030, which can be credited to the increasing need for efficient maintenance processes, and the growing requirement for sufficient productivity and minimal downtime in numerous industries such as automotive, manufacturing, food and beverage, energy, and power, and others.
The market is segmented based on component type and type of system. By type of system, the embedded systems segment is anticipated to grab the most significant share by the end of the forecast period owing to the efficient and steady monitoring provided by these systems. Apart from these, surge in in demand for embedded systems in oil & gas, energy & power, metals & mining, and chemicals industries, are also projected to drive growth to the market segment in the near future.
Geographically, the global vibration monitoring market is segmented into five regions that are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst these, the market in North America is anticipated to hold the largest share over the forecast period. This can be attributed to the rising adoption of technologically advanced solutions in different end-use industries and increasing number of manufacturers offering vibration monitoring solutions in the region.
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Increasing Need for Efficient and Reliable Predictive Maintenance Systems to Drive Market Growth
Vibration monitoring is extensively used in industries where continuous production is maintained, such as oil & gas, food and beverage, energy & power, and others. Moreover, the rising acceptance of predictive maintenance tools, competitive pressure to achieve operational competence, and increased manufacturing activities in the developing countries are harboring the need for effective maintenance systems, which is expected to boost the growth of the global vibration monitoring market in the future.
However, the high pricing associated with the installation of these systems is estimated hamper the market growth over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global vibration monitoring market which includes company profiling of Emerson Electric, 3DSignals Ltd., Sensye Ltd., Augury Inc., Petasense Inc., MachineSaver, Inc., Prüftechnik Dieter Busch AG, Shinkawa Electric Co., Ltd., General Electric, Honeywell International, Inc., National Instruments, Yokogawa Electric Corporation, Fluke Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global vibration monitoring market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
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