Vibration Monitoring Market Size, Share & Trends Analysis Report By Component  (Hardware, Software, Services), By System Type (Embedded Systems, Vibration Analyzers, Vibration Meters), By Monitoring Process (Online, Portable), By End-Use (Energy and Power, Metals and Mining, Oil and Gas, Automotive, Food and Beverages, Others ) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global vibration monitoring market size was valued at USD 1.47 billion in 2021. It is expected to reach USD 2.66 billion by 2030, growing at a CAGR of 6.8% during the forecast period (2022-2030).

Simply looking at or hearing a machine can make it difficult to determine how well it operates. Still, vibration monitoring gives one the chance to see what is happening inside the unit and make decisions based on the information to keep the machine and the process running. Vibration monitoring is a technique for checking the health of machinery to spot damage and maintain the long-term effectiveness of industrial output. These systems track, examine and detect vibrations that could be signs of an issue, an impending failure, or a process limitation. Predictive maintenance includes several key elements, one of which is vibration monitoring. Teams can assess the health of assets using vibration screening, evaluate and diagnose the identified asset, and take the appropriate corrective action.

One can identify issues and start repairs straight away by learning each machine's typical vibration readings and recognizing when something is amiss. With this knowledge, users will be better equipped to preserve their equipment for a more extended period. The vibration monitoring market is expanding due to factors including rising concern over product functionality and safety, increased awareness of predictive maintenance, and a growing trend of vibration monitoring using wireless technology. However, the global lack of skilled labor, expensive installation costs, and other technical resources for assessing and forecasting machine conditions restrain the growth of the vibration monitoring market. However, it is presumed that research and development for AI integration will create exciting business opportunities.

Market Dynamics

Global Vibration Monitoring Market Drivers

Awareness Towards Predictive Maintenance and Concern Pertaining the Product's Safety and Functionality

Many businesses use predictive maintenance to track performance or stay on top of changing market conditions. The machinery's quantity, production frequency, and the requirement for near-real-time evaluation systems make it complicated to track the machines' health. On the other side, vibration monitoring systems give a solution that, using sensor technology, presents a real-time scenario of machine health and a forecast for any upcoming breaking, thus promoting consumer adoption and boosting the market.

Companies are now required to run production in both day and night shifts due to rising customer demand and market competitiveness in various end-use industries, including energy & power, oil & gas, automotive, and food & beverages. Machines need maintenance because they are likely to break down if operated for long periods. This system forecasts any potential or existing damage to the plant's machinery, assisting in the creation of a functional environment that is safe and secure. As a result, long-term manufacturing efficiency is boosted by vibration monitoring systems, which fuels market demand.

Global Vibration Monitoring Market Restraints

High Cost, Lack of Skilled Personnel, and Other Technical Issues

The hardware, software, and services that make up the vibration monitoring system must be installed and operated by qualified experts. The market demand for small-scale industries is constrained by installation and maintenance costs. Additionally, technical viability only slightly influences long-term output and is only a tiny requirement for predictive maintenance.

Additionally, a vibration monitoring system can be a useful predictive maintenance tool if the person using it is qualified to evaluate and analyze the vast volumes of data the system generates. Users must be able to process the enormous amount of data displayed without exerting a lot of cognitive work. As a result, the market is constrained by these considerations.

Global Vibration Monitoring Market Opportunities

Research & Development for Integration of AI

AI and machine learning technology have altered the organization of industrial processes over the last few years. Creating an AI-based embedded vibration monitoring system will be essential for proactive maintenance and a productive and safe workplace. Artificial intelligence benefits both specialized and general users when used for vibration analysis. First, it advocates against examining signals from machines in good condition or those whose flaws are evident. 

To reduce the possibility of analysis errors, specialists can now keep an eye on a more significant number of machines and spend more time on more complicated situations. Furthermore, it offers a trustworthy and simple-to-understand diagnostic, enabling non-specialists to make decisions independently. For these reasons, the advantages of an AI-integrated vibration monitoring system are anticipated to produce lucrative opportunities.

Regional Analysis

The region-wise segmentation of the global vibration monitoring market includes Asia Pacific, Europe, North America, and LAMEA.

North America and Europe are Predicted to Dominate the Regional Market

North America will command the regional market while expanding at a CAGR of 5.25%. One of the most industrialized regions on earth, it serves as a center for businesses in the oil and gas, automotive, aerospace, and defense sectors, among others. Due to rotating machinery, these industries primarily employ motor condition monitoring devices. Due to their numerous uses in machines like mobile vehicles, aircraft, cranes, and other machinery, motor condition monitoring devices are becoming increasingly in demand on the market due to the expansion of industries like energy and power, aerospace & aerospace & defense, and others. The vibration monitoring market growth is also boosted by introducing sophisticated automated technology in North America for machine health inspection and analysis.

Europe will likely hold USD 703 million, growing at a CAGR of 6.36%. Europe is one of the continents with both developed and developing countries. Market leaders in the region can be found in sectors like automotive, aerospace & defense, and others that use vibration monitoring systems in their machinery and finished goods. Vibration monitoring system sales are expected to rise due to the automotive industry's progress in the direction of electric vehicle development and the quickening of EV infrastructure development. Vibration monitoring systems must be installed because electric vehicles (EVs) use induction motors and have automatic features and controls. Additionally, vibration monitoring systems are used in the automobile post-sale service center to conduct in-depth analyses in the event of any faults.

Segmental Analysis

The global vibration monitoring market is segregated based on the component, system type, monitoring process, end-use, and region. 

On The Basis of Component

The categories include hardware, software, and services based on the component. 

The hardware section will likely grow at a CAGR of 6.3% and hold the largest market share. Speed sensors, temperature sensors, vibration sensors, including tri-axial vibration sensors, amperage sensors, RPM sensors, general purpose sensor adapters, display panels, and other hardware components make up the hardware section of the system. Compared to earlier models, the performance of the vibration monitoring system has significantly improved thanks to the development of sensors. This has enabled large-scale industries to plan and carry out machine maintenance effectively.

The software section holds the second-largest share. Vibration monitoring is now more effective because of software development throughout time. The need for vibration monitoring systems has increased due to wireless communication between the sensor and software. Additionally, the development of intelligent software has made it possible for the vibration monitoring system to operate more effectively, increasing market demand among numerous high-production industries like energy & gas, among others.

On The Basis of System Type

Based on the system type, the categories include embedded systems, vibration analyzers, and vibration meters. 

The embedded system section is predicted to advance at a CAGR of 7.87% and hold the largest market share. When compared to the implementation of individual technologies, embedded systems offer significant advantages. Vibration monitoring can accomplish its long-sought benefit if a more intentional and planned entire systems approach is taken instead of using unique technologies to address a complicated problem. Users are therefore seeking these embedded systems.

The vibration meter section will hold the second-largest share. In the manufacturing industry, vibration meters are used for quality control, product testing, and machine condition monitoring. To detect the vibration of the human body, market participants have also created vibration meters. It gauges at least one of the vibration displacement, vibration velocity (speed), or vibration acceleration characteristics. Vibration meters are simple to use and understand. As a result, these are highly sought after in manufacturing facilities. The vibration of structures like buildings, roads, and bridges can also be measured using a vibration meter in civil engineering.

On The Basis of System Type

Based on the monitoring process, the categories include online and portable. 

The online segment is envisaged to hold the largest market share, advancing at a CAGR of 7.2%. Online vibration monitoring combines sophisticated data processing, intricate measuring methods, a user-friendly user interface, and a wide range of options for an individual personalized system. Online systems produce a highly adaptable, high-performing system that sends clear condition information directly to the control room. Therefore, during the projection period, the benefits of the online vibration monitoring system are expected to lead to profitable market growth.

The portable segment holds the second-largest share. The term "portable vibration monitoring systems" refers to a small class of monitoring devices that can measure vibration and display values, continuously monitor levels, and take appropriate action in the event of excessive or harmful vibrations. Several portable vibration monitoring systems can be used to measure beats. These systems include simple portable vibration meters that are perfect for spot measurements around the plant, single channel vibration switches that integrate sensors with a measuring and alarm unit, multi-channel permanently installed monitors, and microprocessor-controlled systems with color displays and programmability to handle any vibration issue in machinery or non-machinery applications. Their need in multiple applications drives the demand for these various portable vibration monitoring systems.

On The Basis of End-Use

Based on end-use, the categories include energy & power, metals & mining, automotive, food & beverages, and others. 

The oil & gas section will likely hold the largest market share, advancing at a CAGR of 7.4%. Coal, minerals, nuclear power, and clean fuels are some of the several segments of the energy and power industry. Increased government and private sector spending on alternative energy and power sources in developed and developing nations results in more energy and power plants installed, which fuels the demand for vibration monitoring systems.

The automotive section holds the second-largest share. The fuel technology used in the automotive industry has undergone a significant change as it increasingly switches from fossil fuel to electric energy. The induction motors and other automated hardware components used by EVs have vibration monitoring systems installed to monitor their proper operation.

Impact of covid-19

COVID-19 has positive and negative market consequences, as carbon emissions have decreased globally due to the lockout. COVID-19's reduction in emissions is a short-term benefit. Still, when industries and enterprises attempt to recoup some of their financial losses in the first quarter of the year, carbon emissions will rise dramatically. COVID-19 had a negative impact on global recycling efforts. Countries, notably the United States, have halted or decreased recycling programs to focus on collecting additional domestic waste or because services have been disrupted by the virus.

Also, with industries slowly returning to normalcy following the COVID-19 outbreak, this shift in workplace health and safety is expected to increase due to mandatory social distancing and continuous personal care through sanitization to eliminate even the tiniest possibility of COVID-19 spread. COVID-19 has impacted various companies' revenues, and if the lockdown is lifted, companies will turn their attention to operations to make up for their losses.

Recent Developments

• In 2022, Rockwell Automation announced a three-year strategic agreement with start-up ZEVx to use advanced technology to accelerate electric vehicles.
• In 2022, Emerson Electrical Co acquired Flux. The acquisition enhances Emerson's leading software and solutions portfolio and life sciences expertise.  
• In 2022, Emerson Electrical Co released the TESCOMä Anderson Greenwood Instrumentation H2 Valve Series. The innovative technology reliably separates process pressure in high-pressure gas operations like hydrogen filling stations and tube trailers, thereby decreasing fugitive emissions and enhancing safety.