Recent report published by research nester titled “Vibration Sensor Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the vibration sensor market in terms of market segmentation by product type, by equipment, by material, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The vibration sensor market has been segmented by product type into accelerometers, electrodynamics velocity transducer and non-contact displacement transducer. Among these segments, the accelerometers vibration sensor segment is expected to dominate the overall vibration sensor market during the forecast period.
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The global market for vibration sensor is anticipated to flourish at a compound annual growth rate of 11.2% during the period 2017-2024. Factors such as the growing use of wireless vibration sensors for vibration monitoring in order to reduce the cost of equipment downtime are making headway for the growth of the global vibration sensor market.
Moreover, high demand for vibration sensor systems worldwide by the countries is anticipated to positively boom the global Vibration Sensor Market by noteworthy revenue by the end of 2024.
In the regional segment, North America is projected to dominate the overall market of vibration sensor during the forecast period. This can be attributed to high usage of vibration sensors in airline industry to reduce the turbulence. Moreover, the advancement in the vibration sensor is growing with respect to its size, load capacity and frequency range.
These factors are envisioned to fuel the growth of the North America vibration sensor market. Further, Europe is poised to record fastest growth rate during the forecast period owing to factors such as self-generating capability and wide range of frequency. Additionally, use of vibrations sensors along with piezoelectric accelerometers is estimated to drive the growth of Asia Pacific vibration sensor market at a considerable rate.
Growing Demand for Security Features
Growing safety & aid features offered by the usage of vibration sensor has increased the protection over machines. This factor is anticipated to supplement the growth of the global vibration sensor market. Further, increase in monitoring and safety features across the globe is anticipated to intensify the growth of the global vibration sensor market. In addition, high accuracy of measurement through these sensors is anticipated to positively drive the growth of the global vibration sensor market.
However, the availability of other vibration measuring devices might deter the growth of vibration sensor market in coming years.
This report also provides the existing competitive scenario of some of the key players of the vibration sensor market which includes company profiling of ASC GmbH, Dytran Instruments Inc., TE Connectivity Ltd., Honeywell International Inc., FUTEK Advanced Sensor Technology Inc., National Instruments Corporation, Colibrys Ltd., Hansford Sensors Ltd. and Robert Bosch GmbH.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the vibration sensor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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