Vibration Monitoring Market Share

Regionally, the vibration monitoring market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is poised to account for largest revenue share of 32% by 2037, up from a revenue of USD 402.73 Million in the year 2020. One of the major factors anticipated to drive the growth of the market in the region is the rise in the number of manufacturing facilities across various industry verticals in several developing countries in the region, such as China, India, Japan, South Korea, and Australia among others. Additionally, the increasing value added by the manufacturing industry to the GDP of the nations in the region is also anticipated to boost the market growth in the coming years. According to the statistics by the World Bank, the value added by the manufacturing industry increased from USD 3.441 Trillion (current US$) in the year 2009 to USD 6.211 Trillion in the year 2020. The vibration monitoring market in the region is further segmented by country into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. Out of these, the market in China is anticipated to garner the largest revenue of USD 308.65 Million by the end of 2030, up from a revenue of USD 154.0 Million in the year 2020.