Global Vibration Sensor Market to Expand at 6.3% between 2020 and 2027

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Global Vibration Sensor Market to Expand at 6.3% between 2020 and 2027
GLOBAL VIBRATION SENSOR MARKET SIZE STUDY, BY TYPE (ACCELEROMETERS, VELOCITY SENSOR, DISPLACEMENT SENSOR), BY TECHNOLOGY (PIEZORESISTIVE, STRAIN GAUGE, VARIABLE CAPACITANCE, HAND PROBE, OPTICAL, OTHERS), BY MATERIAL (DOPED SILICON, PIEZOELECTRIC CERAMICS, QUARTZ), BY END-USER (AUTOMOBILE, CONSUMER ELECTRONICS, HEALTHCARE, AEROSPACE & DEFENSE, OIL & GAS, OTHERS) AND REGIONAL FORECASTS 2020-2027

Report Ocean has recently published a new research study on the global vibration sensor market. According to the study, the market is expected to exhibit strong growth potential over the period from 2020 to 2027. The report is titled “Global Vibration Sensor Market Size study, by Type (Accelerometers, Velocity Sensor, Displacement Sensor), by Technology (Piezoresistive, Strain Gauge, Variable Capacitance, Hand Probe, Optical, Others), by Material (Doped Silicon, Piezoelectric Ceramics, Quartz), by End-User (Automobile, Consumer Electronics, Healthcare, Aerospace & Defense, Oil & Gas, Others) and Regional Forecasts 2020-2027” and it has been prepared by carrying out an in-depth assessment of this market based on its past and current performance and future prospects.

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The expanding application base of vibration sensors in aerial navigation, process control systems, and underwater-applications is the key factor behind the growth of the global vibration sensor market. The need for monitoring and maintenance of machine condition is rising relentlessly, fuelling the demand for vibration sensors across the world.

As per the Capgemini Digital Transformation Institute, 43% start-ups across the world has operational smart factories, whereas, 33% of them have formulated the smart factory initiative. The remaining 8% are expected to take up smart factories in the next 3-5 years. This, consequently, is projected to strengthen the demand for vibration sensors, thereby adding to the market growth all over the world. The rising uptake of automated condition monitoring technologies for the advancement of smart factories, increasing demand for vibration sensors in industrial IoT, and the enforcement of government policies for safety and security rules of industries are likely to propel this market over the near future. On the other hand, the high cost incurred in developing vibration sensors and issues related to their functioning in high temperatures may hamper the growth of this market in the years to come.

The worldwide vibration sensor market was valued approximately at US$4.8 billion in 2019. It is anticipated to rise at a CAGR of more than 6.3% over the forecast period of 2020-2027.

The research report also presents a regional assessment of the global vibration sensor market. As per the research study, the market is distributed among Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America has emerged the leading regional market for vibration sensors across the world. The availability of favorable government policies regarding the uptake of vibration sensors and the presence of a wide base of market players in the region is boosting the growth of the North America vibration sensors market. Asia Pacific is also anticipated to exhibit a high growth rate over the forecast period. The increasing application of vibration sensors in the automotive industry and the rapid digitalization in factories and manufacturing sectors in emergent countries supporting the Asia Pacific market for vibration sensors.

Impact of Covid 19 on Global Vibration Sensor Market

Due to the Covid 19 pandemic, the focus has completely shifted to the healthcare and the pharmaceutical industries and related markets, while impacting many other markets that includes the global market for vibration sensors as well. The governments in a number of countries enforced strict lockdown in their respective countries, leading to stoppage of manufacturing processes and disruption of supply chain systems. This affected the production of machinery and automobiles and, consequently, the market for vibration sensors across the world. However, with situation getting under control, the market is likely to return to its normal self soon.

Key Findings:

  • North America has emerged the leading regional market for vibration sensors across the world.
  • Asia Pacific is also anticipated to exhibit a high growth rate over the forecast period.

The global vibration sensor market is segmented into:

By Type

  • Accelerometers
  • Velocity Sensor
  • Displacement Sensor

By Technology

  • Piezoresistive
  • Strain Gauge
  • Variable Capacitance
  • Hand Probe
  • Optical
  • Others

By Material

  • Doped Silicon
  • Piezoelectric Ceramics
  • Quartz

By End User

  • Automobile
  • Consumer Electronics
  • Healthcare
  • Aerospace & Defense
  • Oil & Gas
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Rest of the World

Companies Mentioned in the Report

  • Advanced Sensors Calibration GmbH
  • Analog Devices Inc.
  • Dytran Instruments Inc.
  • Honeywell International Inc.
  • Robert Bosch GmbH
  • Hansford Sensors Ltd.
  • Colibrys Ltd.
  • National Instruments Corp.
  • TE Connectivity Ltd.
  • Futek Advanced Sensor Technology Inc.

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