Global Vibration Sensor Market Report and Forecast 2024-2032

Global Vibration Sensor Market Size

The global vibration sensor market stood at a value of nearly USD 4.76 billion in 2023. The vibration sensor market is further expected to attain USD 9.52 billion by 2032, growing at a CAGR of 8% during the forecast period of 2024-2032.

The growth of the vibration sensor market is being driven by the development of advanced tools, and the growing need to monitor the condition of different components and improve the productivity of machines.

Vibration Sensor Market Outlook

The global market is anticipated to experience a healthy growth over the forecast period due to the growing demand for cost-effective maintenance and the growth in asset utilization. Vibration analysis is used to determine the condition of equipment. The rapid urbanisation and industrialisation, particularly in emerging nations, is expected to drive the expansion of the vibration sensor industry over the forecast period. The need to increase productivity and efficiency, with the growing demand to cut down maintenance cost is aiding the industry growth. The thriving oil and gas and automotive sector are expected to support the industry growth further.

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Vibration Sensor Market Growth

The declining prices of MEMS accelerometers are expected to have a positive impact on the industry growth. Region-wise, the Asia Pacific is expected to lead the global vibration sensor industry over the forecast period owing to the growing adoption of industrial IoT (IIoT) in the region coupled with the rising preference for wireless sensor network technology.

Vibration Sensor Market Trends

The integration of IoT and IIoT technologies in the vibration sensor has allowed for real-time monitoring and analysis of equipment performance. By connecting vibration sensors to the internet, companies can now remotely monitor their machinery's health and condition, detecting potential issues before they become costly breakdowns in the future.

Recent Developments

Worldsensing announced the launch of its newest wireless sensor, the Vibration Meter in 2023. This device uses a tri-axial accelerometer to gauge vibrations, offering a long battery life, wide communications range, and a more competitive price compared to similar products.

Industry Outlook

Rising Adoption of Renewable Energy and the IoT Technology

In 2020, renewable energy sources accounted for 28.1% of global electricity generation. Hydropower was the largest contributor at 16.3%, followed by wind at 6.0% and solar PV at 3.1%. In 2022, all renewables made up 29.5% of global electricity generation. As per the vibration sensor industry analysis, hydropower accounted for 15%, while wind and solar PV contributed 7.3% and 4.5% respectively. In 2024, hydropower is expected to remain a dominant power source at 15.1%, while wind energy is expected to account for 8.6% and solar PV 6.7% of renewable energy power. In 2028, renewable energy was expected to account for 41.6% of global electricity generation which can increase the vibration sensor industry revenue. Solar PV is expected to contribute around 12.6%, and wind energy around 12.1%. Hydropower's share will decrease slightly to 13.9%. The transition towards renewable energy, such as solar and wind aids the demand for vibration sensors, which are critical for monitoring and maintaining the performance of wind turbines and solar panels, ensuring their efficiency and longevity.

In 2020, Industry 4.0 adoption varied significantly across regions. North America led with a 36% adoption rate, driven by major companies like General Electric, Boeing, and Tesla. Popular vendors in this region included Microsoft, IBM, and AWS, which provide crucial technologies supporting Industry 4.0 implementation and promotes the growth of the vibration sensor industry. Europe followed with a 27% adoption rate, with Siemens, ABB, and Schneider Electric being the leading adopters. These companies are noted for their extensive use of automation and digitalization in manufacturing. The most popular vendors in Europe were ABB, Siemens, and SAP, which are integral to the region's smart manufacturing infrastructure. Asia, particularly China, had a 20% adoption rate, led by companies like Toyota, Huawei, and Foxconn. These companies have been pivotal in integrating advanced manufacturing technologies and IoT solutions.

Key vendors in Asia included Huawei, Alibaba Group, and Fanuc, which provide the necessary technology for Industry 4.0 advancements. From 2018 to 2024, the number of Internet of Things (IoT) connections in the United Kingdom is projected to grow significantly, reaching 155.7 million by 2024 from 31.4 million in 2018. Key sectors contributing to this growth include automotive, manufacturing, FMCG, utilities, and smart cities. The increase in Industry 4.0 adoption correlates with the rising demand for vibration sensors. These sensors are crucial for monitoring machinery health, predicting maintenance needs, and ensuring operational efficiency.

Continuous Improvements in Sensor Technology and Rising Demand Across Various Industries, Driven by Predictive Maintenance, and Automation

• Continuous improvements in sensor technology enhance the accuracy, reliability, and range of vibration sensors.

• Vibration sensors are used across various industries, including automotive, aerospace, industrial machinery, consumer electronics, and healthcare.

• Increasing adoption of vibration sensors in predictive maintenance helps reduce downtime and maintenance costs by early detection of equipment faults and increases vibration sensor demand forecast.

• Rising demand for automation and smart manufacturing drives the need for vibration sensors to monitor and control machinery.

• Many industries are mandated to use vibration sensors to comply with safety and operational regulations, ensuring steady market demand.

Challenges Impacting the Growth of the Global Vibration Sensor Market Include High Setup Costs, and Complex Integration.

• The initial setup and integration costs of advanced vibration monitoring systems can be high, deterring smaller businesses from adoption.

• Integrating vibration sensors into existing systems can be complex and require specialised knowledge and skills which can impact vibration sensor demand growth.

• The vast amount of data generated by vibration sensors can be overwhelming, requiring robust data management and analysis tools.

• Vibration sensors can be sensitive to environmental factors like temperature, humidity, and electromagnetic interference, affecting their performance.

• Some vibration sensors have a limited lifespan and require regular maintenance and calibration to ensure accuracy.

• Economic instability and downturns can lead to reduced capital expenditure on new technologies, impacting the demand for vibration sensors.

• As per the vibration sensor market dynamics and trends, rapid technological advancements can render existing vibration sensor technologies obsolete, requiring continuous innovation and investment.

• As vibration sensors are increasingly integrated into IoT systems, they become vulnerable to cybersecurity threats, which can compromise the reliability of monitoring systems.

The Growth of IoT and Industry 4.0 Initiatives is Favouring the Market Growth

• The growth of the Internet of Things (IoT) and Industry 4.0 initiatives create significant opportunities for the integration of vibration sensors in smart factories.

• Rapid industrialisation and urbanisation in emerging markets offer new opportunities for the deployment of vibration sensors and fuel vibration sensor demand.

• Increasing use of vibration sensors in healthcare for patient monitoring and medical devices presents a growing market segment.

• Adoption of vibration sensors in the energy sector for monitoring equipment in power plants, wind turbines, and other energy infrastructures can drive market growth.

• The rise of renewable energy sources, such as wind and solar power, requires advanced monitoring systems, including vibration sensors.

Competitive Factors in the Global Vibration Sensor Market Share

• Integration of smart features, such as self-diagnostics, wireless connectivity, and real-time data analysis, enhances the functionality and appeal of vibration sensors.

• High-quality sensors that provide consistent and reliable performance in various environmental conditions are preferred by industries. 

• Offering easy calibration and maintenance services can attract customers who prioritise long-term sensor performance and accuracy.

• Competitive pricing strategies, without compromising on quality, can attract a broader customer base, including small and medium-sized enterprises, boosting lucrative vibration sensor market opportunities.

• Companies with a strong global presence and extensive distribution networks can access a wider customer base. 

• Providing robust after-sales support, including technical assistance, training, and repair services, helps in building customer loyalty and trust.

• Leveraging IoT and Industry 4.0 technologies to provide integrated solutions for smart manufacturing and predictive maintenance enhances competitive positioning.

Key Players in the Global Vibration Sensor Market and Their Strategic Initiatives

Honeywell International Inc.

• Enhancing sensor accuracy and functionality through continuous technological innovations.

• Expanding into new markets and applications to broaden the customer base can increase vibration sensor market revenue.

• Implementing eco-friendly practices in product development and manufacturing.

TE Connectivity Ltd.

• Broadening the range of vibration sensors to cater to different industrial needs.

• Strengthening global presence through strategic acquisitions and partnerships.

• Offering tailored solutions and extensive customer support to enhance user experience.

Yokogawa Electric Corp.

• Continuously developing advanced vibration sensors with enhanced accuracy and reliability is a crucial trend in vibration sensor market.

• Integrating sustainable practices in manufacturing processes and product development.

SKF AB

• Investing in digital technologies to enhance sensor offerings and integrate with IoT solutions.

• Providing customized solutions to meet specific industry needs.

• Significant investment in research and development to innovate and improve sensor technologies promotes the demand of vibration sensor market.

Rockwell Automation Inc.

• Promoting smart manufacturing solutions that include advanced vibration sensing and monitoring.

• Developing products that seamlessly integrate with Industry 4.0 technologies.

• Focusing on sustainable product development and energy-efficient solutions.

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Vibration Sensor Industry Segmentations

Vibration monitoring refers to the quality measurement phenomenon in modern industrial infrastructure. Vibrations help us know about the machine condition; for example, abnormal vibration level is indicative of problems in an industrial machine, which, if detected early, can be repaired before the event of machine failure.

The global vibration sensor industry can be divided based on segments like types, applications, and regions.

• Type:
  • Accelerometer
    • Capacitive MEMS
    • Piezoresistive
    • Piezoelectric
  • Electromagnetic Velocity Sensor
  • Non-Contact Displacement Sensor

• Application:
  • Processing Industry
  • Automotive
  • Oil and Gas
  • Consumer Electronics
  • Energy and Power
  • Aerospace and Defence
  • Healthcare
  • Others

The EMR report looks into the regional markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global vibration sensor market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Analog Devices, Inc.

• Hansford Sensors Ltd 

• Honeywell International, Inc. 

• Keyence Corporation 

• National Instruments Corporation 

• Bosch Sensortec GmbH

• Safran Colibrys SA

• TE Connectivity Ltd 

• Others

The EMR report gives an in-depth insight into the vibration sensor market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

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Vibration Sensor Market Regional Analysis

North America, especially the United States, consists of a robust industrial sector as well as high-end technologies for industrial automation and machinery condition monitoring. This region also serves as a centre for technological advancements, with rising investments in research and development of sensor technologies such as vibration sensors.

Key Highlights of the Report

Vibration Sensor Market Report Snapshots

Vibration Sensor Market Size

Vibration Sensor Market Growth

Vibration Sensor Market Trends

Vibration Sensor Companies

Vibration Sensor Market Regional Analysis