The global vibration monitoring market was valued at $2.27 billion in 2018 and is anticipated to grow at a CAGR of 5.5% from 2019 to 2026. Vibration monitoring systems provide early warning systems for potential problems in turbines and other rotating equipment. They assist in detection of timely machine damage and are used in condition-based maintenance of machines and installations.

The vibration transmitters, vibration sensors, accelerometers and evaluation electronics detect damaged bearings and unbalance in drives and rotating machine parts. Vibration monitoring systems protect against permanent machine overload and unexpected standstill, while offering decentralized monitoring of plant and equipment integrated into the machine. Vibration monitoring systems are used in critical pumps and motors, cooling towers and fans, slow speed rolls, and rotary and screw compressors.

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The vibration monitoring market is influenced by growing need to achieve higher efficiency, and productivity in manufacturing units. Factors such as increasing adoption of smart factories, and stringent regulations regarding energy efficiency and workforce safety impact the market growth. The growing adoption of embedded systems, increasing need to reduce plant operating cost, and rising trend of predictive maintenance also fostered the market growth.

The increasing need to streamline operations to improve productivity and safety has increased the growth of the market. The growing adoption of cloud-based technologies, Internet of Things, and machine learning accelerates the adoption of vibration monitoring systems. Other factors driving the market include technological advancements, increasing demand from emerging economies, and growing applications.

Vibration Monitoring Market Scope

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Component Analysis

The global vibration monitoring market is segmented on the basis of component, monitoring process, end-user, and region. The market report segments the components into hardware, software, and services. The hardware segment accounted for the highest market share in 2018. The use of hardware such as accelerometers, proximity probes, velocity sensors, transmitters drives the growth of this market segment.

Monitoring Process Analysis

The Vibration Monitoring market report segments the monitoring process into online, and portable. The online segment is expected to grow at a higher rate during the forecast period owing to growing adoption of cloud services and IIOT in oil and gas, and energy industries.

End-User Analysis

The market report segments the end-users into automotive, chemical, aerospace and defense, food and beverages, construction, mining, oil and gas, and others. The automotive segment accounted for the highest market share in 2018. The introduction of stringent regulations regarding energy efficiency and workforce safety, and growing need to increase productivity drives the growth of this segment.

Regional Analysis

This market report comprises a detailed geographic analysis of this market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. North America is the major region contributing to the growth due to increasing adoption of IoT, and growing penetration of predictive maintenance. Factors such as streamlining business operations, and improving overall productivity have accelerated the growth of the market in this region.

Competitive Landscape

The leading players in the market include National Instruments Corporation, Emerson Electric Co., Bruel & Kiaer Sound & Vibration Measurement A/S, Meggitt PLC, Honeywell International Inc., Schaeffler AG, Analog Devices, Inc., SKF AB, General Electric, and Azima DLI Corporation among others. These leading players are introducing innovative products to cater to the growing demand for consumers. Global players are entering new markets in developing regions to expand their customer base, strengthen market presence, and increase their market share.