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The industrial vibration sensor market size is estimated to grow by USD 3,321.4 million accelerating at a CAGR of 7.95% between 2023 and 2027.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
Report Coverage |
Details |
Page number |
176 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.95% |
Market growth 2023-2027 |
USD 3,321.4 million |
Market YoY |
Fragmented |
YoY growth 2022-2023(%) |
7.65 |
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Integrated and modular sensor designs are in high demand across industries. Micro-electromechanical systems (MEMS) and nanoelectromechanical systems (NEMS) are particularly sensitive to various stimuli, making them valuable in portable devices and small detector systems for human-machine interface (HMI) devices in artificial intelligence. Their nanoscale size ensures high sensitivity to even minor operational variations.
These technologies offer additional benefits, such as integrated circuit miniaturization, reduced weight, and improved vibration detector processing speed. They also enable automated monitoring of small- to medium-sized machinery, replacing manual checks. For instance, IFM Electronic GmbH's compact VNA001 monitors machinery vibration status according to ISO 10816. Such factors are driving the market growth.
The emergence of fiber optic sensors is a key trend shaping the market growth. Fiber optic detectors, a cutting-edge technology, outperform traditional detectors with their exceptional sensing capabilities. These sensors are in high demand for heavy equipment due to their compactness, lightweight nature, and sensitivity to chemicals and electromagnetic fields. They represent a significant advancement, seamlessly integrating intelligence with engineering materials and equipment, offering heightened sensitivity to disturbances. These sensors can be integrated into systems with minimal impact, making them ideal for real-time monitoring. They employ various types of fibers, from single-mode polarized hi-birefringence fibers to low-birefringence fibers.
In damage assessment, these detectors detect changes in dynamic characteristics, providing rapid responses. In the automotive industry, they offer immediate feedback when a vehicle tire contacts the detector. High birefringence (Hi-Bi) fibers can provide periodic responses linked to load changes. These attributes are expected to drive the global market's growth during the forecast period.
Lack of awareness and adherence to regulations is a key challenge hindering the market growth. In various industries, work-related accidents have increased due to insufficient training, planning, regulatory compliance, and inspections. This problem stems from a lack of awareness among companies, impacting the demand for this product. Smaller industry players often lack the expertise to navigate complex work environments, despite stringent regulations and inspections. Many end-users fail to research their vibration detector needs and may buy inexpensive, uncertified sensors unsuitable for their machinery. Limited awareness of available options also hampers demand. Ignorance about regulations leads to non-compliant, low-cost detector purchases, endangering workers and equipment.
Furthermore, companies and workers often lack awareness about necessary training and protective gear for hazardous environments, neglecting precautionary measures and safety monitoring. Inadequate adherence to safety regulations could hinder the market's growth.
The end user segment in the market is further classified into process industries and discrete industries. The process industries segment was valued at USD 3,380.78 million in 2017 and will continue to grow by 2021. Process industries primarily include the oil and gas, food and beverage, pharmaceuticals, and power industries. This segment are comparatively higher in process industries as they involve more sub-processes and critical situations. This segment are also used to enhance packaging. Detectors enable the controlling and monitoring of various aspects, such as acceleration, velocity, and displacement. Some of the advantages of using vibration sensors in packaging are mentioned below: Easy tracking of vibration due to high-temperature Monitoring of the exact degree of health of the product Detect deterioration of food products and alert manufacturers to prevent severe implications.
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The discrete industries primarily include the automotive and electronics and semiconductor industries. These industries assemble their raw materials in sequential steps that require very deep concentration on every step involved; else, the production timeline may be hampered. Discrete industries, including automotive, electronics, and semiconductors, involve a high need for safety detection even during the assembly process, which is expected to increase the demand for this detector during the forecast period.
Based on the product, the acceleration sensor segment holds the largest market share. Acceleration detectors, or accelerometers, offer superior signal-to-noise ratios across a wide dynamic range, excelling in measuring a broad frequency spectrum. They are anticipated to be the top revenue generators in the market, available in versatile options for both general and specific applications, particularly favored for machinery vibration monitoring.
Integrated with vibration monitors, they enable assessments of acceleration and velocity, benefiting multi-parameter monitoring programs. Accelerometers come with advantages like compact size, suitability for confined spaces, robust high-frequency response, and resilience to high temperatures. However, potential disruption from very high-frequency noise and the need for electronic integration for velocity and displacement monitoring are considerations. Additionally, users must provide an external power source, a notable drawback.
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APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC's rapid industrialization is poised to significantly impact the market in the forecast period. With robust annual manufacturing sector growth projected in countries like China, India, Indonesia, and Malaysia, according to the World Bank, APAC is a key player. In 2022, Greenfield investments in APAC increased by 6%, with notable growth in South-West Asia and the Pacific subregions, reflecting increased manufacturing output and trade, particularly with top exporters like China and India. However, addressing occupational safety concerns is crucial. In 2021, over 1.9 million people in APAC suffered work-related accidents or diseases. Governments, workers, and employers are intensifying safety efforts, implementing mandatory safety management standards, and strengthening occupational safety and health systems.
Additionally, the oil and gas sector's shift toward Asia's emerging economies is driven by resource depletion in developed countries. These resource-deficient nations aim to enhance regional energy security, reducing import dependence. These factors collectively contribute to increased revenue in the market in focus.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
PCB- The company offers product that are used to test and measure vibration, pressure, force, acoustics, load, and shock in research and development as well as manufacturing applications.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
AB SKF, ABB Ltd., Analog Devices Inc., CEC Vibration Products, Electro Sensors Inc., Hansford Sensors Ltd., Hofmann Mess und Auswuchttechnik GmbH and Co. KG, ifm electronic GmbH, Metra measurement and frequency technology in Radebeul eK, Monitran Ltd., Montronix GmbH, Murata Manufacturing Co. Ltd., OMRON Corp., PCB Piezotronics Inc., ROGA Instruments, Safran SA, Schaeffler AG, Sensonics Ltd., StrainSense Ltd., and TE Connectivity Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest trends and growth opportunities from 2017 to 2027.
The market witnesses a significant impact from Microelectromechanical System (MEMS) technology, with key players like STMicroelectronics leading innovations. The integration of Artificial Intelligence (AI) and the Internet of Things (IoT) enhances the capabilities of vibration detectors, providing advanced features. Gyroscopes play a crucial role in precise motion sensing applications, contributing to applications such as Advanced Driver-Assistance Systems (ADAS). As industries increasingly rely on real-time data for predictive maintenance and operational efficiency, the demand for this product is expected to rise. With STMicroelectronics at the forefront of technological advancements, the market anticipates continuous growth driven by the convergence of MEMS, AI, and IoT in vibration sensing applications.
Industrial Vibration Sensor Market Research Report |
|
Report Attributes |
Details |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 41% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AB SKF, ABB Ltd., Analog Devices Inc., CEC Vibration Products, Electro Sensors Inc., Hansford Sensors Ltd., Hofmann Mess und Auswuchttechnik GmbH and Co. KG, ifm electronic GmbH, Metra measurement and frequency technology in Radebeul eK, Monitran Ltd., Montronix GmbH, Murata Manufacturing Co. Ltd., OMRON Corp., PCB Piezotronics Inc., ROGA Instruments, Safran SA, Schaeffler AG, Sensonics Ltd., StrainSense Ltd., and TE Connectivity Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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