The global vibration sensor market size was US$ 5.4 billion in 2021. The global vibration sensor market will grow to US$ 8.5 billion by 2030 by growing at a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
Factors Influencing the Market
Vibration sensors are forecast to gain traction due to the growing demand for monitoring a machine's condition. In addition, the rising demand for high-performing operational products and the increasing number of industrial hubs will contribute to the growth of the vibration sensor market.
It has become necessary to monitor and analyze machines or other critical equipment. Thus, it will surge the growth of the industry. In addition, growing industrialization will contribute to the growth of the industry.
The increasing use of these systems in energy harvesting applications will benefit the market during the study period. These systems are highly deployed to convert vibrations into electric energy. Furthermore, growing investments by governments will significantly boost the growth of the market. For instance, the U.K. Government’s Technology Strategy Board announced its plan to invest US$ 3 million to support the development of low-power energy harvesting technologies.
The use of the systems for railway track monitoring is forecast to escalate the growth of the market. These systems are highly used to detect the problems like breaks and dislocations bodes in rails. Thus, such applications are forecast to benefit the vibration sensor market during the study period.
The vibration sensor market will also grow due to the contribution of prominent industry players. For instance, Fluke Corporation unveiled its Fluke Connect Condition Monitoring (FCCM in 2018. The system collects, stores, and interprets the data from various sensors. Thus, such advancements in the vibration sensor market will gain significant traction.
COVID-19 Impact Analysis
The COVID-19 pandemic hampered all the industrial and manufacturing activities. As a result, it impacted the global vibration sensor market. In addition, imposed lockdown and other restrictions in various countries hampered the growth of the global vibration sensor market.
Regional Analysis
The Asia-Pacific vibration sensor market is forecast to grow rapidly due to growing industrialization. Japan is one of the top-most manufacturers of components in the consumer electronics market. In addition, the presence of end-use companies like Samsung Electronics, Sony, Canon, Toshiba, Panasonic, Hitachi, Nikon, and Casio will contribute to the growth of the market.
Competitors in the Market
Market Segmentation
The global vibration sensor market segmentation focuses on Product, Monitoring, Technology, Material, End-User, and Region.
By Product Outlook
By Monitoring Process Outlook
By Technology Outlook
By Material Outlook
By End User Outlook
By Regional Outlook
