Vibration Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)
The vibration monitoring market is expected to register a CAGR of 5.4% over the forecast period. Maintenance processes have become more streamlined than production processes, and have ample scope for optimization, thus propelling the growth of the machine maintenance industry. Increased productivity and minimal downtime due to superior monitoring, such as predictive maintenance, are the most recognized benefits that can also prolong maintenance intervals beyond preventive maintenance schedules.
Key HighlightsThe vibration monitoring market is significantly competitive in nature. Some of the significant players in the market are Rockwell Automation Inc., National Instruments Corporation, General Electric Corporation, Emerson Electric Company, Honeywell International Inc., and Bruel & Kjaer Sound & Vibration Measurement. The companies are increasing their market share by forming multiple partnerships and introducing new products to earn a competitive edge.
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