Vibration Monitoring Market Size, Share, Analysis, Growth, Forecasts, 2032

Vibration Monitoring Industry Prospective:

The global vibration monitoring market size was evaluated at $500 million in 2023 and is slated to hit $1,000 million by the end of 2032, with a CAGR of nearly 5.2% between 2024 and 2032.

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Vibration Monitoring Market: Overview

Vibration monitoring is a key method that is utilized for analyzing machinery health by measuring and assessing vibration levels to avoid the breakdown of machinery. By measuring vibration levels, vibration monitoring systems can determine irregularities which indicate key problems including loose components and misalignment.

Key Insights

• As per the analysis shared by our research analyst, the global vibration monitoring market is projected to expand annually at the annual growth rate of around 5.2% over the forecast timespan (2024-2032)
• In terms of revenue, the global vibration monitoring market size was evaluated at nearly $500 billion in 2023 and is expected to reach $1,000 million by 2032.
• The global vibration monitoring market is anticipated to grow rapidly over the forecast timeline owing to surging necessity of predictive maintenance along with adoption of vibration monitoring systems for identifying key equipment failures.
• In terms of component, the hardware segment is slated to dominate the segmental space over the forecast period.
• Based on system type, the embedded systems segment is predicted to dominate the global industry surge in the ensuing years.
• Based on the monitoring process, the online monitoring segment is slated to lead the segment over the forecast timeline.
• On the basis of end-use sector, the energy & power segment is predicted to record the highest CAGR over 2024-2032.
• Region-wise, the North American vibration monitoring industry is projected to register the fastest CAGR during the assessment timespan.

Vibration Monitoring Market: Growth Factors

Escalating demand for predictive maintenance to boost the global market trends

Surging necessity of predictive maintenance, along with the adoption of vibration monitoring systems for identifying key equipment failures, is expected to steer the global vibration monitoring market trends. Swift acceptance of smart manufacturing techniques, along with the use of the industrial Internet of Things, will embellish the growth of the market globally.

Growing safety issues experienced across a spectrum of end-use sectors are projected to boost the global market demand. Additionally, breakthroughs in sensor systems, including cloud-based and wireless ones, are likely to enlarge the scope of growth of the market globally.

Moreover, the large-scale use of portable equipment for flexible monitoring has assisted the firms in implementing vibration monitoring equipment without changing infrastructure. Apart from this, a prominent increment in investments in infrastructural development and production will augment the global market expansion.

Vibration Monitoring Market: Restraints

Need for huge allocation of funds in the manufacture of vibration monitoring devices to restrict the global industry

Rising initial investment prices and surging costs related to data acquisition tools, software analysis, and advanced sensors can retard the global vibration monitoring industry progress. Apart from this, complexities involved in the execution & management of vibration monitoring tools have impacted the growth of the industry.

Vibration Monitoring Market: Opportunities

Industry 4.0 revolution can create new growth avenues for the global market over 2024-2032

Rapid growth of Industry 4.0 focusing on automation and IoT is likely to generate new growth avenues for the global vibration monitoring market. Moreover, an increase in energy costs has translated into a need to enhance energy efficacy and minimize operating costs. This, in turn, is likely to propel the expansion of the market globally. A surge in the penetration of vibration monitoring equipment in aerospace, renewable energy, and transport sectors will embellish the global market progress in the years ahead.

Vibration Monitoring Market: Challenges

Growing cyber threats and low availability of professionals to challenge the global industry expansion

Cyber-security risks and less access to skilled personnel are some of the major challenges that the global vibration monitoring industry has experienced in recent years. Effective installation of vibration monitoring equipment requires accurate calibration and sensor maintenance. This, in turn, can pose a huge challenge for the global industry.

Vibration Monitoring Market: Report Scope

Vibration Monitoring Market: Segmentation

The global vibration monitoring market is divided into component, system type, monitoring process, end-use sector, and region.                                                    

In terms of component, the vibration monitoring market across the globe is segmented into hardware, services, and software segments. The hardware segment is likely to be the leading segment among various other segments of the component during the forecast period. The swift growth of this segment can be due to hardware parts such as sensors and data acquisition systems becoming the foundations of vibration monitoring devices. Apart from this, the introduction of new sensor technologies will prop up the segmental growth.

On the basis of system type, the global vibration monitoring industry is bifurcated into embedded systems, vibration meters, and vibration analyzers segments.

Furthermore, the embedded systems segment is likely to dominate the growth of the global industry in the coming eight years. The key factors driving the growth of the segment can be subject to real-time monitoring of devices by embedded systems for quick identification of key issues & reducing downtime. Reportedly, embedded systems can be easily integrated with various other IoT equipment and this will prop up the segmental surge.

Based on the monitoring process, the global vibration monitoring market is sectored into online monitoring and portable monitoring segments. Additionally, the online monitoring segment, which captured a major share of the global market in 2023, is anticipated to lead the segment growth in the years ahead. The growth of the segment in the foreseeable future can be subject to the ability of the online monitoring process to provide proactive maintenance along with improving the efficacy of the monitoring process.

On the basis of end-use sector, the global vibration monitoring industry is segregated into energy & power, manufacturing, oil & gas, and transport segments. The energy & power segment, which led the segmental sphere in 2023, is set to register the highest gains over the analysis timeline owing to unplanned disruptions during power production along with power units & wind farms depending on critical rotating equipment such as pumps & turbines for power generation.

Vibration Monitoring Market: Regional Insights

Asia-Pacific is projected to maintain a leading position in the global market over the analysis timeframe

Asia-Pacific, which contributed approximately 43% of the global vibration monitoring market earnings in 2023, is anticipated to maintain a dominant position in the next decade.

Apparently, the geometric progression of the market in APAC over the forecast timeline can be due to swift industrialization, favorable government schemes, and a huge focus on cost-efficiency. Humungous presence of key players in the countries such as Japan, China, and South Korea will proliferate the size of the market in the region.

North American vibration monitoring industry is set to record the highest CAGR in the forecast timeframe. The industry expansion in North America can be credited to the easy access to new technologies along with a focus on predictive maintenance facilities. Technological breakthroughs are likely to augment the growth of the industry in North America.

Vibration Monitoring Market: Competitive Space

The global vibration monitoring market profiles key players such as:

• PCB Piezotronics Inc.
• Teledyne FLIR LLC
• Honeywell International Inc.
• Data Physics Corporation
• Rockwell Automation
• General Electric
• Meggitt PLC
• Schaeffler AG
• Bruel & Kjaer
• National Instruments Corporation
• Emerson Electric Co.
• Baker Hughes Company
• Analog Devices Inc.
• SPM Instrument AB
• SKF AB

The global vibration monitoring market is segmented as follows:

By Component

• Hardware
• Services
• Software

By System Type

• Embedded Systems
• Vibration Meters
• Vibration Analyzers

By Monitoring Process

• Online Monitoring
• Portable Monitoring

By End-Use Sector

• Energy & Power
• Manufacturing
• Oil & Gas
• Transport

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa