Global Vibration Sensor Market 2016-2020
Market outlook of the vibration sensor market
Technavio’s research analyst predicts the global vibration sensor market to grow at a CAGR of 6% during the forecast period. The stringent road safety regulations enforced in numerous countries are likely to drive the vibration sensor market as the governments of these countries have mandated the installation of sensors in automobiles to reduce accidents. Governments of developing countries, where the market is price sensitive, are also encouraging the use of vibration sensors in automobiles.
The increasing need for machine maintenance is also likely to boost the market growth. Machines are becoming more complex leading to an increased usage of sophisticated vibration sensors to maximize the performance of engineering processes. Vibration sensors aid in the effective prediction of machine failures and reduction in frequency and severity of equipment downtimes.
Application segmentation and analysis of the vibration sensor market
- Consumer electronics
- Industrial machinery
The aerospace segment is the largest segment and is expected to grow at a CAGR of 4% during the forecast period due to its increasing usage in aircrafts to reduce turbulence and analyze engine problems, thus, eliminating unnecessary engine removals. Vibration sensors are also used to identify component wear in bearings, rotating shafts, conveyors, and other line equipment in machines.
Geographical segmentation and analysis of the vibration sensor market
The Americas accounted for 40% of the market share during 2015 and is expected to grow at a CAGR of 6% during the forecast period. The region will witness high demand from aerospace, manufacturing, and healthcare sector. The majority of the demand for the vibration sensors in automotive segment is expected from Brazil where major automotive manufacturers such as Fiat, Volkswagen, and General Motors are setting up their manufacturing facilities.
Competitive landscape and key vendors
The vibration sensor market has an immense growth potential due to increasing adoption of these sensors in many segments. New vendors are expected to enter the market, thus increasing the competition. The market will see an increase in R&D due to the introduction of new technologies.
The leading vendors in the market are -
- Analog Devices
- Brüel & Kjær
- Dytran Instruments
- Hansford Sensors
- Honeywell International
- Murata Manufacturing
Other prominent vendors in the market include Scanimetrics, SKF, and Rockwell Automation.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global vibration sensor market?
- What are the key market trends impacting the growth of the vibration sensor market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global vibration sensor market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the vibration sensor market?
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