Global Offline Vibration Monitoring Market, By Product Type (Handheld, Stand), End User (Machinery Manufacturing, Chemical Industry, Vehicle, Electric Power, Others), Sales Channel (Manufacturer/Distributor/Service Provider, Aftermarket) – Industry Trends and Forecast to 2029.
Offline Vibration Monitoring Market Analysis and Size
The need for preventive and predictive maintenance is driving the use of vibration monitoring in a variety of industries. Market participants have made significant technological advances in the field of vibration monitoring and analysis devices. As a result, these growth determinants assist the market in maintaining a positive outlook over the forecasted timeline.
Data Bridge Market Research analyses that the offline vibration monitoring market which was growing at a value of 1,543 million in 2021 and is expected to reach the value of USD 2,834.90 billion by 2029, at a CAGR of 7.90% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Offline Vibration Monitoring Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Handheld, Stand), End User (Machinery Manufacturing, Chemical Industry, Vehicle, Electric Power, Others), Sales Channel (Manufacturer/Distributor/Service Provider, Aftermarket),
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Analog Devices, Inc. (U.S.), Emerson Electric Co. (U.S.), Brüel & Kjær (Denmark), Honeywell International Inc (U.S.)., National Instruments (U.S.), PCB Piezotronics, Inc (U.S.)., Rockwell Automation, Inc. (U.S.), Meggitt PLC. (U.K), Data Physics Corporation (U.S.), SPM Instrument AB (Sweden), General Electric (U.S.), Fluke Deutschland GmbH (Germany), Bachmann electronic GmbH (Austria), PARKER HANNIFIN CORP (U.S.), IFM electronic GMBH (Germany), MACHINE SAVER (U.S.), Petasense Inc. (U.S.) and SCHAEFFLER AG (Germany)
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Opportunities
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Market Definition
A vibration monitoring system is a collection of tools used to continuously or at periodic intervals measure several parameters of a machine, such as vibration signals, recording length, frequency bandwidths, and others, in order to assess its overall condition. These tools record vibration signals and convert them into readable data for operator and staff maintenance. This system can work online or offline. Online monitoring requires continuous monitoring of the equipment, whereas offline monitoring is used for less critical equipment where a periodic check is sufficient. Offline monitoring can be accomplished with manual or semi-automated equipment.
Global Offline Vibration Monitoring Market Dynamics
Drivers
- Growing need for consistent monitoring in industrial verticals
One of the key factors driving the market is the increasing use of offline vibration monitoring in the automotive industry around the world. This is due to their assistance in increasing productivity, reducing downtime due to superior analytics, and reducing human-mediated activities such as manual inspections and unscheduled corrections. Aside from that, there is a growing awareness of predictive maintenance among vendors in the manufacturing, energy, and power sectors around the world. As a result, monitoring systems are increasingly being used to ensure consistent monitoring of equipment in order to avoid adversities.
- Incorporation of advanced technology and systems
Leading market players are incorporating wireless technology and cloud storage into vibration monitoring systems to enable smart factory equipment maintenance. They are also developing advanced technologies such as system-on-a-chip (SOC), which enable real-time accurate data acquisition to be relayed immediately on handheld devices such as smartphones, resulting in a positive market outlook. Besides this, the introduction of online monitoring systems incorporated with on-board logic and decision-making abilities is positively influencing the offline vibration monitoring market.
Opportunities
- High penetration of IoT in industries
The increasing adoption of machine learning and big data analytics, combined with the advent of the industrial internet of things (IIoT), are expected to create lucrative opportunities for the market, which will further accelerate the growth rate of the vibration monitoring market in the future.
- Strategic partnerships and collaborations
Furthermore, strategic partnerships and collaborations among different market players, as well as research and development activities for the integration of artificial intelligence (AI), will provide numerous market growth opportunities.
Restraints
- Lack of skilled labour
Lack of skilled labour and high installation costs, which necessitate the use of multiple technical resources, are the factors acting as market restraints for offline vibration monitoring during the forecast period.
This offline vibration monitoring market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the offline vibration monitoring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Offline Vibration Monitoring Market
The COVID-19 outbreak had a significant impact on the vibration monitoring market. The COVID-19 epidemic and spread have caused significant health and economic harm all over the world. Plant closures and supply chain disruptions have had a global impact on the process and manufacturing industries. Various social distancing restrictions also had an impact on the operation of many businesses. Many manufacturing companies have shut down, causing collateral damage to the supply chain and limiting the growth of the vibration monitoring market. The emergence of COVID-19 has forced virtually all manufacturing organisations to reconsider their strategies and devise quick countermeasures in order to maintain supply chain stability.
On the plus side, as COVID-19 has spread, there has been an increase in demand for remote operations. Many industrial communication enterprises around the world saw a significant drop in revenue growth in the first quarter of 2020. The vibration monitoring market is gaining traction as the economy continues to improve and the demand for remote operations grows, necessitating the adoption of highly automated systems that require little or no human supervision.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In January 2021, SKF collaborated with Solvang to introduce predictive maintenance to its tanker fleet by investing in SKF's new manual vibration monitoring system, Enlight ProCollect. Solvang, which transports a variety of petrochemicals, will use SKF's QuickCollect vibration sensors and ProCollect software to monitor a variety of onboard rotating machinery.
Global Offline Vibration Monitoring Market Scope
The offline vibration monitoring market is segmented on the basis of product type, sales channel and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product type
- Handheld
- Stand
Sales channel
- Manufacturer/Distributor/Service Provider
- Aftermarket
End user
- Machinery Manufacturing
- Chemical Industry
- Vehicle
- Electric Power
- Others
Offline Vibration Monitoring Market Regional Analysis/Insights
The offline vibration monitoring market is analysed and market size insights and trends are provided by country, product type, sales channel as referenced above.
The countries covered in the offline vibration monitoring market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the offline vibration monitoring market due to the improved application of these monitors across manufacturing operations in various industrial sectors and the stringent regulatory framework regarding workforce security in the expanding automotive industry rising acceptance of predictive maintenance tools, competitive pressure to achieve operational competence, expansion of manufacturing activities, and low labour costs in the advancing countries within the t
Asia-Pacific is expected to grow significantly between 2022 and 2029 due to government regulations for workplace and personnel safety, an increased focus on optimum asset utilisation, and stringent quality control in the region's oil and gas, chemical, and food and beverage industries,
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Offline Vibration Monitoring Market Share Analysis
The offline vibration monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to offline vibration monitoring market.
Some of the major players operating in the offline vibration monitoring market are:
- Analog Devices, Inc. (U.S.)
- Emerson Electric Co. (U.S.)
- Brüel & Kjær (Denmark)
- Honeywell International Inc (U.S.).
- National Instruments (U.S.)
- PCB Piezotronics, Inc (U.S.).
- Rockwell Automation, Inc. (U.S.)
- Meggitt PLC. (U.K)
- Data Physics Corporation (U.S.)
- SPM Instrument AB (Sweden)
- General Electric (U.S.)
- Fluke Deutschland GmbH (Germany)
- Bachmann electronic GmbH (Austria)
- PARKER HANNIFIN CORP (U.S.)
- IFM electronic GMBH (Germany)
- MACHINE SAVER (U.S.)
- Petasense Inc. (U.S.)
- SCHAEFFLER AG (Germany)
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