Global Industrial Speed Monitoring Systems Market 2017-2021

Overview of the global industrial speed monitoring systems market

Market research analysts at Technavio predict that the global industrial speed monitoring systems market will grow at a CAGR of more than 5% by 2021. The minimal cost for repairing speed monitoring systems is identified as one of the primary growth factors for this market. Industrial speed monitoring systems are sturdy and are designed to withstand wear and tear in an industrial environment. These devices are often exposed to dust, moisture, and heat in industrial workplaces that might affect the performance. In such conditions, the industrial speed monitoring devices are required to offer accurate data and enable operators to take actions accordingly. Moreover, these devices rarely undergo a functional breakdown during their lifespan. Owing to such advantages the coming years will witness a considerable increase in the adoption of industrial speed monitoring systems.

The utilization of Wi-Fi and Bluetooth-based speed monitoring systems is one of the latest trends that will contribute to the growth of this market in the forthcoming years. The use of Wi-Fi and Bluetooth in industrial speed monitoring systems has become a key trend. Wi-fi and Bluetooth allow users to operate the equipment from a remote location. This helps the user to easily keep track of the equipment through a control panel or smartphones. This trend is expected to increase during the forecast period as it makes the work of an operator easy and involves lesser costs. Also, the emergence of wireless speed monitoring in industries will enable users to remotely monitor and control several aspects of industrial application such as machine condition monitoring and equipment activity. These wireless technologies will alter the scope of speed monitoring across process and discrete industries during the forecast period.

Competitive landscape and key vendors  

The industrial speed monitoring systems market consists of end-users ranging from large-scale to small-scale industries across geographies. Small-scale industries prefer speed monitoring devices from regional players due to their low pricing compared to the global competitors. The large-scale industries choose products from major players in the market due to the brand worthiness, existing reputation, and value for money proposition of branded products. Though the products of regional vendors are priced comparatively low, they still account for the majority shares of the industrial speed monitoring systems market.

The leading vendors in the market are -

• ABB
• Electro-Sensors
• Process Control Systems
• Rockwell Automation
• Siemens

The other prominent vendors in the market are Woodward, Eaton, Schmersal, Barksdale, SIGMATEK, ifm, Enercorp Instruments, and Banner Engineering.

Segmentation by product type and analysis of the industrial speed monitoring systems market

• Industrial tachometers
• Industrial speed transmitters
• Industrial rotation direction switches
• Industrial safety relays
• Industrial speed switches

During 2016, the industrial tachometers segment accounted for the major shares of the industrial speed monitoring systems market. Factors such as the increased adoption and rising importance of safety practices in industries will contribute to the growth of this industry segment in the coming years. Moreover, properties such as robust build and the capacity to withstand temperature ranging from -20 °C to 70 °C, will also propel the segment's growth in this global market.

Geographical segmentation and analysis of the industrial speed monitoring systems market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the industrial speed monitoring systems market throughout the forecast period. The increased adoption of industrial speed monitoring systems in various industries such as food and beverage and chemical industry drive the growth of the market in this region. Additionally, the expected expansion of existing companies and the introduction of new ones will also increase the need for industrial speed monitoring devices in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global industrial speed monitoring systems market?
• What are the key market trends impacting the growth of the global industrial speed monitoring systems market?
• What are the challenges to market growth?
• Who are the key vendors in the global industrial speed monitoring systems market?
• What are the market opportunities and threats faced by the vendors in the global industrial speed monitoring systems 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 global industrial speed monitoring systems market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming research report on the industrial speed monitoring systems market offers insights into the major trends and forthcoming drivers influencing the growth of the industrial automation industry. Our reports for the heavy industry also follow a scrupulous data collection methodology and offer an analysis of fast growing market segments like automation.  

Moreover, to achieve higher accuracy, our industry experts implement an extensive research approach of primary and secondary data collection methods and assess the changing demand-supply landscape of the automation sector. Few of the key approaches involved in the in this methodology are detailed vendor briefings, online surveys, and consultation of industry journals and publications. Also, by considering the market forecast and size, and the surging demand for various segments of the automation sector, the market research professionals at Technavio present an all-inclusive picture of the industrial speed monitoring systems market from 2017 to 2021.

This forthcoming market research report on the industrial speed monitoring systems market also covers vendors like Siemens, Process Control Systems, Rockwell Automation, Electro-Sensors, and ABB. Furthermore, our research practices support clients develop impactful growth strategies and keep pace with the continually changing market dynamics. This market research report also presents an extensive analysis of various products and services based on the insights from the information gathered from specific resources such as channel partners and market stakeholders.

The upcoming industry research report for the industrial speed monitoring systems market also categorizes the key drivers, prominent trends, as well as the imminent restraints that the automation sector currently experiences. This upcoming report on the industrial speed monitoring systems market presents insights into the rapidly changing competitive landscape to give clients a complete picture of the forthcoming events within the industrial automation industry. Technavio also offers in-depth market assessments into the sectors such as robotics.

Our market research methodology for the global industrial speed monitoring systems market

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