Vibration Sensor Market Trends
Growth Drivers
- Permanent Switch from Preventive to Predictive Maintenance – Due to the advantages it provides, predictive maintenance is quickly gaining acceptance in the worldwide manufacturing sector. It is being used extensively, particularly in capital-intensive industries like the automobile and oil and gas sectors. The state of machinery and equipment can be monitored using a variety of predictive maintenance tools and procedures to spot wear and other failure signs. As a result, the shift from preventive to predictive maintenance has a big impact on the market for vibration sensor.
- Development of Cutting-Edge Sensor Technologies – The development of sensor technologies has been accelerating. Around the world, the use of cutting-edge sensor like wireless sensor, fiber-optic sensor, and micro-electro-mechanical system (MEMS) sensor is rising steadily. Most monitoring applications use sensor that can withstand harsh weather conditions. In order to provide reliable data, numerous sensor are deployed in wireless sensor networks. Therefore, the market for vibration sensor has a chance to grow as a result of the utilization of these cutting-edge sensor technologies.
- Increased Use in Navigation System - It might also be applied to satellite- and submarine-based navigation systems, which lack GPS capability. In recent years, the use of the Inertial Measurement Unit (IMU) in autonomous vehicles has increased, presenting a new possibility for market expansion. The IMU, which is made up of a gyroscope and an accelerometer, can detect the gravity and angular rate of an item to which it is attached.
Challenges
- Adherence to Governing Standards – Currently, a number of standards govern or provide guidance for vibration monitoring and analysis, some of which classify measuring and data analysis techniques. The ISO has created and published a variety of pertinent standards that are useful for monitoring and analyzing machine vibration. These industry standards must be followed by producers of various vibration-monitoring sensor, instruments, and equipment. The producers are no longer free to create their products using their own standardized processes thanks to industry standards, which may also increase the price of the final product. This factor may hamper the market growth.
- Remote Locations have Limited Access to Experts
- Operation-Related Problems in High Temperature
Vibration Sensor Market: Key Insights
Global vibration sensor market is anticipated to flourish at a CAGR of 11.2% during the forecast period i.e. 2017-2024. Factors such as the growing use of wireless vibration sensors for vibration monitoring in order to reduce the cost of equipment downtime are making headway for the growth of the global vibration sensor market. Moreover, high demand for vibration sensor systems worldwide by the countries is anticipated to positively impact the growth of the global vibration sensor market.
Geographically, North-America is projected to dominate the overall market of vibration sensor during the forecast period. Factors such as high usage of vibration sensors in airline industry where turbulence can be reduced and the advancement in the vibration sensor is growing with respect to its size, load capacity and frequency range is anticipated to fuel the growth of the North America vibration sensor market.
Europe is poised to record fastest growth rate during the forecast period. Factor such as wide range of frequency and self-generating capability is predicted to trigger the growth of the global vibration sensor market over the forecast period. Moreover, long serving life is a major factor which is anticipated to drive the growth of global vibration sensor market in the years ahead. Asia Pacific vibration sensor market is expected to witness substantial growth over the forecast period. Factors such as use of vibration sensors along with piezoelectric accelerometers are envisioned to strengthen the growth of vibration sensor market in Asia Pacific.
Based on product type, vibration sensor market is segmented into accelerometers, electrodynamics velocity transducer and non-contact displacement transducer, out of which, accelerometers vibration sensor segment is expected to dominate the overall vibration sensor market during the forecast period.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.1% |
|
Base Year Market Size (2024) |
USD 6.34 billion |
|
Forecast Year Market Size (2037) |
USD 15.47 billion |
|
Regional Scope |
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