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Vibration Sensor Market Size Worth $7.67 Billion By 2027 | CAGR: 6.2% | Grand View Research, Inc.

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Vibration Sensor Market Size Worth $7.67 Billion By 2027 | CAGR: 6.2% | Grand View Research, Inc.

August 26
07:16 2020
Vibration Sensor Market Size Worth $7.67 Billion By 2027 | CAGR: 6.2% | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global vibration sensor market size was valued at USD 4.78 billion in 2019 and is excepted to expand at a compound annual growth rate (CAGR) of 6.2% from 2020 to 2027. Vibration sensors are being increasingly adopted as the need for machine condition monitoring and maintenance is on the rise.

The global vibration sensor market is expected to reach at USD 7.67 billion by 2027 with a CAGR of 6.2% from 2020 to 2027, according to a new report by Grand View Research, Inc. Growing adoption of vibration sensors in various sector such as oil & gas, manufacturing, and mining are likely to enhance the market demand in the forecast period. Moreover, rise in industrial IoT (IIoT) and predictive analytics are used for remote sensing purpose wherein it is expected to contribute to the market growth.

Vibration sensors are produced with robust materials such as quartz. Since it is an electrical material that gives stability to the sensors with little electrical power. This enhances the longevity of these systems in battery-operated applications. Manufacturers of vibration sensors are emphasizing on producing innovative solutions. For instance, in May 2020, Advantech Co., Ltd collaborated with Semtech launched LoRaWAN that smartly monitors the surface temperatures of machines and independently calculates the vibrations produced.

Growing adoption of UAVs is anticipated to push the market growth as vibration sensors are been extensively used in monitoring applications in the oil and gas industry. Various sectors such as machine learning, cloud-based technologies, and wireless sensor networks have gained a huge momentum.

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Covid-19 Effect:

The covid-19 pandemic is severe in most of the countries and has badly hit the automation in the manufacturing industry due to its reliance on human labor. Major events have been postponed or delayed on this backdrop. However, the standstill in the manufacturing sector is anticipated to prolong in the near future. Although, a major halt, the manufacturing sector is nonetheless witnessing a high adoption of robotics and automation and it is predicted that this will create a pool of opportunities for market growth in the forthcoming period.

Further Findings From the Report Suggest:

l  Accelerometer is the large segment for type segment attributing to the rise in market share in 2019. This is mainly driven by increase in adoption in consumer electronics, manufacturing, and others

l  Tri-axial is an emerging segment under technology wherein it is employed for modal analysis which is a prerequisite for testing shock absorbers in vehicles

l  Automobile accounted for the large share in the end-use segment owing to the rise in adoption in the automobile industry. These are mainly used for engine applications and airbags

l  Asia Pacific is the fast growing market owing to rise in adoption owing to high frequency of occurrence of earthquakes and volcano eruptions. Therefore, vibration sensors have a huge significance in the regional markets

In airbags, accelerometer vibration sensors monitor rapid deceleration of the vehicle in the event of an impact and convert it into a change in voltage. The electronic control unit subsequently responds by sending a signal to actuate and inflate the protective airbag. The governments in various countries have mandated the usage of airbags in passenger cars that is expected to impact the market growth positively. For instance, the U.S. National Highway Traffic Safety Administration has established the 49 CFR Part 595 standards that mandate the usage of airbags in cars.

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Various market players, such as Analog Devices, Inc. andDytran Instruments, Inc., are extensively focusing on R&D activities that is enabling them to develop new products. The R&D activities of Analog Devices, Inc. enabled it to launch an accelerometer-ADXL372-designed for long-period monitoring of the physical condition of machines. Some of the other strategies adopted by these players are mergers, acquisitions, and partnerships. For instance, TE Connectivity, Ltd. has established a partnership with Mouser Electronics, Inc. Under the partnership, Mouser Electronics, Inc. distributes TE Connectivity, Ltd.’s vibration sensors across Europe.

Product innovation and heavy investments in R&D are the major strategies used by leading players in the market. For instance, Honeywell International, Inc. R&D expenses accounted for USD 1,556 million, USD 1,809 million, and USD 1,835 million in FY 2019, FY 2018, and FY 2017, respectively. These activities have enabled players such as Analog Devices, Inc.; Dytran Instruments, Inc.; and Honeywell International, Inc. to launch new products. Some of the prominent players in the vibration sensor market include:

l  Analog Devices, Inc.,

l  Dytran Instruments Inc.,

l  TE Connectivity Ltd

l  Robert Bosch GmbH

l  Mouser Electronics

l  Honeywell Instruments Inc.,

l  National Instruments Corporation

l  FUTEK Advanced Sensor Technology Inc.,

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IoT, machine learning, wireless sensor networks, cloud-based analysis, and big data have found their way into the world of machine vibration measurements. These systems are used in both discrete manufacturing and process manufacturing for predictive maintenance which is further boosting the growth. Furthermore, various companies such as Semtech; Analog Devices, Inc.; STMicroelectronics; and Advantech Co., Ltd. are collaborating to develop smart vibration sensors, which is further driving the demand. For instance, in May 2020, Advantech Co., Ltd. in collaboration with Semtech launched its LoRaWAN smart vibration sensor that monitors surface temperatures of machines and autonomously calculates their vibration characteristics.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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