Vibration Sensor Market Research Report Size, Share, Analysis, Industry Global F

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Vibration Sensor Market Research Report Size, Share, Analysis, Industry Global F

The Vibration Sensors Market was reached USD 3.6 billion in 2021, and expected to reach USD 6.5 billion in 2029, expanding at a significant CAGR of 7.6% during

Vibration Sensor Market

The Vibration Sensors Market was reached USD 3.6 billion in 2021, and expected to reach USD 6.5 billion in 2029, expanding at a significant CAGR of 7.6% during 2022-2029.

The factors driving the growth of Vibration Sensor Market includes rise in the number of smart factories, increasing use of wireless systems to monitor machine’s condition and growing demand for Micro-Electromechanical System (MEMS) in the Automotive and Aerospace & Defense sectors. According to the report published by Statista, the Global Smart Factory Market was estimated around USD 153.7 billion in 2019 and is expected to reach USD 244.8 billion in 2024, which will accelerate Vibration Sensors Market size in the approaching years. Moreover, growing popularity of predictive maintenance, technological innovations in the vibration sensors, increasing adoption of smart home security appliances and rising application of vibration sensors at the railway tracks to monitor the discrepancies in rails, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rising disposable incomes, growing population growth rates and improvements in the living standards, are further contributing to the market growth.

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The leading players operating in the market are NXP Semiconductors, Robert Bosch, Rockwell Automation Inc., Baker Hughes Company, SKF, TE Connectivity, Omron Corporation, Emerson Electric, Honeywell International Inc., and Dytran Instruments, Inc., among others.

However, the growth of Vibration Sensor Market is hindered due to strict regulations imposed by Government.

Based on Process Type, the Online Vibration Monitoring segment is predicted to expand at a significant CAGR during the forecast period

As per the Vibration Sensor Market Forecast, online Vibration monitoring systems delivers real time machine data to plant operators and increasingly used in important plants that work continuously, are some of the factors responsible for the segment’s growth.

Based on End User, the Automotive segment is projected to grow at a remarkable CAGR over the forecast period

Rising emphasis on automating the assembly lines and growing demand for non-destructive testing solutions in the automobile industry, are propelling the growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period

Rapid growth in the manufacturing industries across India, China, Indonesia, and Vietnam, growing demand for home security appliances, rising disposable incomes and rapid urbanization, are some of the important factors supplementing the market growth in Asia-Pacific.

Key Developments

In 2020, SKF launched SKF Enlight Collect IMx-1, which will reduce customer’s maintenance and unexpected downtime costs.

Market Segmentation

Segmentation by Type

Accelerometer

Velocity Sensor

Proximity Probe

Displacement Sensor

Segmentation by Process Type

Portable Vibration Monitoring

Online Vibration Monitoring

Segmentation by Equipment Type

Vibration Analyzer

Embedded Systems

Vibration Meter

Segmentation by End User

Oil & Gas

Metals & Mining

Energy & Power

Automotive

Healthcare

Electronics & Semiconductor

Others

Segmentation by Region

Asia Pacific

China

Japan

India

Rest of APAC

North America

United States of America

Canada

Europe

United Kingdom

Germany

France

Spain

Rest of Europe

RoW

Brazil

South Africa

Saudi Arabia

UAE

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