Global Industrial Vibration Sensor Market 2018-2022
About Industrial Vibration Sensor
The industrial vibration sensor market appears to be fragmented owing to the presence of several international, regional, and local players. The competition among the industrial vibration sensor manufacturers is mainly based on price, quality, regulatory compliance, and innovation. In the coming years, the market will witness the entry of new players, which will in turn, intensify the level of competition among the players in this vibration monitoring system market. As per the end-user segment the market can be segmented into process industries and discrete industries. Process industries are the primary end-user of the industrial vibration sensor market due to the growing demand for safety measures in industries such as oil and gas, mining, food and beverage, and power. Owing to the involvement of sub-processes and critical situations in extreme working situations, the utilization of vibration sensors is high in process industries.
Technavio’s analysts forecast the global industrial vibration sensor market to grow at a CAGR of 11.02% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial vibration sensor market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of industrial vibration sensor.
The market is divided into the following segments based on geography:
Technavio's report, Global Industrial Vibration Sensor Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Other prominent vendors
CEC Vibration Products
Wilcoxon Sensing Technologies
Growing popularity of smart factories
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Emergence of fiber optic sensors
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Key questions answered in this report
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
Technavio Announces the Publication of its Research Report – Global Industrial Vibration Sensor Market 2018-2022
Technavio recognizes the following companies as the key players in the global industrial vibration sensor market: ABB, Analog Devices, OMRON, SKF, and TE Connectivity.
Other Prominent Vendors in the market are: CEC Vibration Products, Electro-Sensors, Hansford Sensors, Hofmann, ifm electronic, Metra, Monitran, Montronix, Murata, PCB Piezotronics, Schaeffler, Safran Colibrys, Sensonics, StrainSense, TWK-ELECTRONIK, and Wilcoxon Sensing Technologies.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is emergence of fiber optic sensors. Smart structures are increasingly adopting fiber optic sensors to sense external stimuli to any structure. Fiber optic sensors offer high sensing potential, and several advantages that influence their usage in heavy machinery. These sensors are small, lightweight, and offer chemical and electromagnetic sensitivity. Also, these sensors are highly sensitive and can incorporate intelligence with engineering materials and equipment. Moreover, their minimum impact on structures influences their usage for the online monitoring of the systems.”
According to the report, one of the major drivers for this market is growing popularity of smart factories. Smart factories will drive the need for sensing technologies since they ensure the accuracy of specifications and maintain consistency in production. Moreover, sensing technologies also ensure the safety of the equipment and the industrial environment. It is identified that the ability of vibration sensors to perform real-time and remote measurement will be one of the primary growth factors for the industrial vibration sensor market. The adoption of vibration sensing technologies lead to high production rates and lower wastage and also helps in ensuring better quality control and minimal downtime. High-precision applications require vibration sensors to measure the vibration bandwidth. Moreover, these sensors also possess unique characteristics such as high resolution, faster response time, and higher sensitivity and also have the ability to take real-time measurements.