Global Online Vibration Monitoring Market, By Offering (Hardware, Software, Services), Deployment Type (On-Premise, Cloud), System Type (Embedded Systems, Vibration Analyzers, Vibration Meters), Industry (Oil and Gas, Power Generation, Mining Metals, Chemical, Automotive, Aerospace and Defense, Food and Beverage, Marine, Others) – Industry Trends and Forecast to 2029.
Online Vibration Monitoring Market Analysis and Size
The online vibration monitoring systems are more frequently used in electronics and power generation sectors to ensure efficient and accurate machinery outcomes. On the other hand, growing digitalization and adoption of internet of things (IOTs) will further create opportunities for the market over the forecasted period.
Global online vibration monitoring market was valued at USD 1,490.30 million in 2021 and is expected to reach USD 2411.40 million by 2029, registering a CAGR of 6.20% 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.
Online 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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Offering (Hardware, Software, Services), Deployment Type (On-Premise, Cloud), System Type (Embedded Systems, Vibration Analyzers, Vibration Meters), Industry (Oil and Gas, Power Generation, Mining Metals, Chemical, Automotive, Aerospace and Defense, Food and Beverage, Marine, Others)
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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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Emerson Electric Co. (U.S.), General Electric (U.S.), Honeywell International (U.S.), NATIONAL INSTRUMENTS CORP. (U.S.), SKF (Sweden), Rockwell Automation, Inc. (U.S.), Schaeffler AG (Germany), Brüel & Kjær. (Denmark), Meggitt PLC. (U.S.), Analog Devices, Inc. (U.S.), Fluke Corporation (U.S.), SymphonyAI Industrial (U.S.), PCB Piezotronics, Inc. (New York), PARKER HANNIFIN CORP (U.S.), SPM Instrument AB. (Sweden), ALS (Australia), Machine Saver (U.S.), Petasense Inc. (U.S.), Amphenol Corporation. (U.S.), Practice Care Maintenance Services Ltd (U.K.)
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Market Opportunities
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Market Definition
A vibration monitoring market focuses on tracking machinery vibration patterns to aid in detecting and recognizing worsening or evolving faults. Moreover, they are used in the tracking of electrical signals induced whilst the process which act as a method of scanning irregularities and deviation in the devices.
Global Online Vibration Monitoring Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Cloud Computing platforms for Vibration Monitoring
Recently, enterprises have required monitoring the health of equipment on a real-time basis, leading to the involvement of diagnostic technologies for the machine tools in the form of the cloud computing platforms. The emergence of mobile computing technologies and the proliferation of internet-connected devices have led to the flexibility and accuracy in the data outcomes of the machineries by the interconnected devices analyses. All these beneficiary factors are driving the growth of the online vibration monitoring market over the forecasted period.
- Rising demands of online vibration monitoring
The online vibration monitoring is a widely used process used in critical plants that work continuously and are highly prone to defects. The high usage of online vibration monitoring in oil and gas and electronics sectors due to the 24/7 maintenance of production in these sectors is the factor driving the growth of the online vibration monitoring market over the forecasted period.
Opportunities
- Growing Penetration and advent of Internet of Things (IOT)
The growing innovations in cloud platforms and the subsequent increase their adoption has offered new capabilities to the market, manufacturing companies, and end users. The advent of internet of things (IOTs) has created new opportunities for the market. The internet of things for condition monitoring, and predictive maintenance can help ensure high uptime of critical assets and highly-efficient performance and reliability. These factors are creating significant lucrative growth opportunities for the market over the forecasted period
Restraints/Challenges
- Lack of trained technical resources
The lack of trained technical resources often leads to delay in the detection of machinery breakdowns and rising errors in the output. This factor is expected to obstruct market growth.
- High costs of implementation
The main drawback is that implementation and maintenance costs are higher than average. This factor is projected to be a challenge for the online vibration monitoring market over the forecast period.
This online 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 online 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.
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 2021, SKF collaborated with Norwegian ship owner Solrang to introduce predictive maintenance by investing in new system for manual vibration monitoring. Solrang will make use of necessary apps to monitor a range of onboarding rotating equipment.
- In 2020, SKF released a compact and cost-efficient vibration and temperature sensor to monitor the condition of industrial machinery's heavy parts.
Global Online Vibration Monitoring Market Scope
The online vibration monitoring market is segmented on the basis of offering, deployment type, system type and industry. The growth amongst these segments will help you analyze 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.
Offering
- Hardware
- Software
- Services
Deployment Type
- On-Premise
- Cloud
System Type
- Embedded Systems
- Vibration Analyzers
- Vibration Meters
Industry
- Oil and Gas
- Power Generation
- Mining Metals
- Chemical
- Automotive
- Aerospace and Defense
- Food and Beverage
- Marine
- Others
Online Vibration Monitoring Market Regional Analysis/Insights
The online vibration monitoring market is analyzed and market size insights and trends are provided by offering, deployment type, system type and industry as referenced above.
The countries covered in the online 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 online vibration monitoring market because of the high adoptions of vibration monitoring products along with prevalence of various manufacturing companies within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising adoptions of predictive maintenance tools along with rapid industrialization within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts 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 Online Vibration Monitoring Market Share Analysis
The online 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 online vibration monitoring market.
Some of the major players operating in the online vibration monitoring market are
- Emerson Electric Co. (U.S.)
- General Electric (U.S.)
- Honeywell International (U.S.)
- NATIONAL INSTRUMENTS CORP. (U.S.)
- SKF (Sweden)
- Rockwell Automation, Inc. (U.S.)
- Schaeffler AG (Germany)
- Brüel & Kjær. (Denmark)
- Meggitt PLC. (U.S.)
- Analog Devices, Inc. (U.S.)
- Fluke Corporation (U.S.)
- SymphonyAI Industrial (U.S.)
- PCB Piezotronics, Inc. (New York)
- PARKER HANNIFIN CORP (U.S.)
- SPM Instrument AB. (Sweden)
- ALS (Australia)
- Machine Saver (U.S.)
- Petasense Inc. (U.S.)
- Amphenol Corporation. (U.S.)
- Practice Care Maintenance Services Ltd (U.K.)
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