Vibration Sensor Market – Growth, Trends And Forecast (2020 – 2024)
Vibration monitoring and analysis are the important quality measurement phenomenon in modern industrial infrastructure. The three parameters that represent vibration monitors are velocity, acceleration, and displacement. The selection of the sensor is proportional to velocity, displacement, or acceleration, which depend on signal levels and frequency that are involved.
The global vibration sensor market was valued at USD 3,354.73 million in 2018, and is expected to reach USD 5,150 million by 2024, registering a CAGR of 7.39% over the forecast period (2019-2024).
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Top Companies in the Global Vibration Sensor Market:
Rockwell Automation Inc, SKF GmbH, National Instruments Corporation, Texas Instruments Incorporated, Analog Devices, Inc., Emerson Electric Corp., Honeywell International Inc., NXP Semiconductors NV, TE Connectivity Ltd., Hansford Sensors Ltd., Bosch Sensortec GmbH (Robert Bosch GmbH). among others.
In an increasingly competitive industrial market, where new features are required to produce smarter tools, monitoring the condition of various components has become a fundamental need. This is expected to boost the demand for vibration sensors over the forecast period.
The innovations and developments in technology led to better functioning and improved the productivity of machines. Thus, machine condition monitoring plays an important role in improving the machine’s performance.
Although the demand for vibration sensors has been on the rise since the last few years, compatibility concerns, especially in the case of old equipment, have been identified as major challenges affecting the market.
With the increasing energy demand, there is an increasing need for energy efficiency, which can only be obtained from the optimal maintenance of the electricity supply machinery.
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Key Market Trends:
Aerospace & Defense End User to Hold Significant Share
Increase in situational awareness to drive operations, cost-effective maintenance, and increase in asset utilization are some of the key factors driving the demand for aircraft health monitoring systems.
The passenger traffic in Europe and other major aviation markets, such as the United Kingdom and Germany, have witnessed growth in terms of the number of passengers and aircraft movements, which is expected to drive the market during the forecast period.
Turbine engine failures are the primary cause of mechanical failures, which is increasing the costs; hence, users are increasingly turning to prognostic health management (PHM) systems to prevent these losses and to reduce maintenance costs. As vibration is the most common health monitoring parameter in the aerospace engine industry, the development of PHM systems is likely to have a direct impact on the growth of vibration sensors.
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Influence Of The Vibration Sensor Market Report:
-Comprehensive assessment of all opportunities and risk in the Vibration Sensor market.
-Vibration Sensor market recent innovations and major events.
-Detailed study of business strategies for growth of the Vibration Sensor market-leading players.
-Conclusive study about the growth plot of Vibration Sensor market for forthcoming years.
-In-depth understanding of Vibration Sensor market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital market latest trends striking the Vibration Sensor market.
Finally, Vibration Sensor Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Vibration Sensor industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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