The international vibration monitoring system is expected to reach USD 1.5 Billion in 2020 to approach 2.2 Billion by 2025 (at a CAGR of 7.4%).
This research report highlights the global vibration monitoring industry by -
The report also explains the major drivers, constraints, restraints, and areas of opportunities that lie in the market together with the value chain and market ranking analysis. According to various reports, the Vibration Monitoring market is expected to grow rapidly in 2020- 2025. In order to carry out predictive maintenance efficiently, vibration monitoring solution has become extremely important. The main reason for using this technology is to reduce the operational cost affecting the production process.
Some of the factors responsible for the growing trend of remote monitoring of wireless systems are:
During 2020- 2025, the growth of the vibration monitoring industry is expected to be egged by the gas and oil industry. According to market players, these two industries are expected to play a significant role by holding a maximum share of the international vibration monitoring market. The gas and oil industry uses large and complex equipment like pumps, large generators, boilers, huge piping network to cover maximum area. All the equipment consumes a lot of power and releases a large amount of heat. A minor issue in the equipment can result in greater power consumption. This process can also trigger gas leakage or explosion. So there is a high demand for a vibration monitoring system in the gas and oil manufacturing sector. Next comes energy and power in terms of using the vibration monitoring system. However, metals & mining and chemical industries also use a vibration monitoring system to some extent.
Tanaya is a Senior Content Developer at IoT Avenue who helped to build the content of the site along with several other sites with her compassionate SEO driven content. She is also a HubSpot, certified Content Marketer. She brings her five years of experience to her current role, where she is dedicated to developing the content of different websites.
Nov 21, 2019 | Press Releases
Dec 05, 2019 | IoT Applications & Examples
Dec 17, 2019 | IoT Applications & Examples
Dec 23, 2019 | IoT Technology News
Jan 02, 2020 | IoT Devices & Sensors, IoT Applications & Examples