The global vibration meter market research report by Technavio predicts the market to post a CAGR of close to 5% during the period 2019-2023.
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Technavio has released a new market research report on the global vibration meter market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global vibration meter market is the ability of vibration meters to analyze vibration patterns for predictive maintenance. This helps in reducing the total production loss and maintenance cost owing to the planned shutdown of several machines at once. The focus on vibration analysis for predictive maintenance is growing because industrial facilities are consistently improving their capacity utilization factor (CUF).
As per Technavio, the increasing popularity of micro-electromechanical sensor (MEMS) in vibration meters will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global vibration meter market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global vibration meter market: Increasing popularity of micro-electromechanical sensor in vibration meters
Electromechanical sensors such as quartz accelerometer and frequency response function (FRF) sensors are widely used by the vendors in the global vibration meter. These electromechanical sensors that are being traditionally used are larger in size and cost and consume more power when compared to MEMS; this has resulted in MEMS being adopted in consumer electronics and aerospace and defense equipment.
“MEMS is expected to be used in vibration meters by the key vendors in the market. This will assist the vendors in reducing the cost and size of vibration meters. In addition to sensor size, there should also be a decrease in the required battery size as MEMS require less power than electromechanical sensors. This will help in increasing the number of portable vibration meters,” says a senior research analyst at Technavio.
Global vibration meter market: Segmentation analysis
This vibration meter market analysis report segments the market by product (digital and analog), end-user (process industries, third-party service providers, and discrete industries), and geography (APAC, Europe, MEA, South America, and North America).
The digital segment held the largest vibration meter market share in 2018, accounting for nearly 90% of the market. This product segment is expected to dominate the global market throughout the forecast period.
North America led the market in 2018 with approximately 35% of the market share, followed by APAC and Europe respectively. The APAC region will surpass North America to become the largest market share contributor by 2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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