Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2.49 Billion | USD 4.84 Billion | 7.64% | 2023 |
According to the report, the global vibration sensors market was USD 2.49 billion in 2023 and is expected to reach around USD 4.84 billion by 2032, at a CAGR of 7.64% between 2024 and 2032.
The report analyzes and forecasts the vibration sensors market on a global and regional level. The study offers past data from 2018 to 2023 along with a forecast from 2024 to 2032 based on revenue (USD Billion) and volume (K Units). The assessment of vibration sensors market dynamics gives a brief thought about the drivers and restraints of the vibration sensors market along with their impact on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the vibration sensors market on a global level.
The vibration sensors market is driven by the growing adoption of automation in the manufacturing industry. The introduction of “Industrial Internet of Things” (IIoT) has led to the upsurge in the demand for vibration sensors. These sensors remotely capture simple vibrations and screen data in case of any imbalance or misalignment. Increasing funds in IIoT is expected to fuel the vibration sensors market in the years ahead. In 2016, IoT spending in the manufacturing industry was USD 178 billion and is expected to rise in the future. Furthermore, it is estimated that by 2023, IIoT will add USD 14.2 trillion to the global economy. Thus, the demand for vibration sensors is expected to rise in the upcoming years.
The growing sensors demand in the healthcare sector is fueling the vibration sensors market growth, as vibration sensors are mainly used in a wireless sensor network that consists of various sensors for measuring temperature, sound, light, and pressure. Various market players, such as TE Connectivity Ltd., are focusing on offering vibration sensors for the healthcare sector. However, maintaining regulatory compliance during the manufacturing of these sensors may adversely affect the market over the forecast time period. Alternatively, the adoption of advanced technologies, such as fiber optic sensors and laser interferometers, will open new growth avenues for this market in the upcoming years.
The market drivers for the Vibration Sensor Market can be influenced by various factors. These may include:
The report gives a transparent view of the vibration sensors market. We have included a detailed competitive scenario and portfolio of leading vendors operative in the vibration sensors market. To understand the competitive landscape in the vibration sensors market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a crucial view of the vibration sensors market by segmenting it based on product, application, and region. All the segments of the vibration sensors market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.
By Product Analysis Segment includes Electromagnetic Velocity Sensors, Non-Contact Displacement Sensors and Accelerometers.Non-contact displacement sensors are expected to grow notably, owing to the technological advancements.
By Application Analysis Segment includes Manufacturing, Healthcare, Energy and Power, Oil and Gas and Others.The manufacturing segment is projected to substantially demand vibration sensors over the forecast years, owing to the increasing adoption of automation in various manufacturing sectors like automotive, consumer electronics, etc.
The Regional segmentation comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe.
The Asia Pacific is estimated to hold a notable share of the global vibration sensors market in the future. South Korea, China, India, and Japan will witness huge product demand. The Middle East and Africa is projected to witness considerable growth in the vibration sensors market over the forecast timespan, owing to the growing sensors demand in the oil and gas sector. The UAE, Saudi Arabia, and Qatar are anticipated to be the most attractive countries in this regional market.
factors can act as restraints or challenges for the Vibration Sensor Market. These may include:
Report Attributes | Report Details |
---|---|
Report Name | Vibration Sensors Market |
Market Size in 2023 | USD 2.49 Billion |
Market Forecast in 2032 | USD 4.84 Billion |
Growth Rate | CAGR of 7.64% |
Number of Pages | 143 |
Key Companies Covered | Analog Devices, Honeywell International, Hansford Sensors, ASC, Keyence Corporation, MTI Instruments, Robert Bosch, National Instruments, TE Connectivity, and Safran Colibrys, and among others |
Segments Covered | By Product, By Application and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Some key players in the vibration sensors market are:
Global Vibration Sensors Market: Product Analysis
Global Vibration Sensors Market: Application Analysis
Global Vibration Sensors Market: Regional Analysis
FrequentlyAsked Questions
The global vibration sensors market accounted for USD 2.49 Billion in 2023 and is expected to reach USD 4.84 Billion by 2032.
The CAGR value of the vibration sensors market is expected to be around 7.64% during 2024-2032.
The Asia Pacific is estimated to hold a notable share of the global vibration sensors market in the future.
Some key players of the global vibration sensors market are Analog Devices, Honeywell International, Hansford Sensors, ASC, Keyence Corporation, MTI Instruments, Robert Bosch, National Instruments, TE Connectivity, and Safran Colibrys.
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