The global vibration monitoring market is estimated to grow at a CAGR of 6.2% during the forecast period. The spread of COVID-19, the adoption of wireless communication technology in vibration monitoring, the rise of predictive maintenance in the industrial sector, and the deployment of vibration monitoring technologies in the ecosystem of smart manufacturing, as well as the realization of benefits of vibration monitoring systems by manufacturers all over the world, are some factors driving the growth of the market Rising usage of machine learning and big data analytics, strategic alliances and collaborations among market participants, and the introduction of the Industrial Internet of Things (IIoT) all provide opportunities for the market growth.
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The COVID-19 epidemic and dissemination have resulted in significant economic damages around the world. Plant closures and supply chain disruptions have impacted the process and manufacturing industries around the world. Physical separation rules and restrictions on crowd movement have also had an impact on the functioning of numerous industries. As a result of these steps, manufacturing and processing plants now require remote supervision and operational control. Owing to the economic crisis, companies in several industries chose not to adopt modern vibration monitoring equipment such as vibration monitoring during the epidemic. However, after the pandemic, the vibration monitoring market has started growing as the economy improves and the remote operations grows significantly.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Offering
- By Monitoring Process
- By System Type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Emerson Electric Co., General Electric Co., Honeywell International Inc., among others.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Vibration Monitoring Market Report by Segment
By Offering
- Hardware
- Software
- Service
By Monitoring Process
- Online Vibration Monitoring
- Portable Vibration Monitoring
By System Type
- Embedded Systems
- Vibration Analyzers
- Vibration Meters
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