Route-based Vibration Analyzers Market - Introduction
- Route-based vibration analyzers are a system used to measure the vibration data of rotating machine or any industrial machine to provide safety at the workplace
- Route-based vibration analyzers are also called condition monitoring systems and they are primarily used in manufacturing plants and in industrial infrastructure to periodically monitor and track performance of the system.
- Route-based vibration analyzers are used to collect and analyze vibration data of industrial rotating equipment at specific time intervals in order to monitor working conditions of the machine. The system is fixed on large industrial machines to monitor the performance and working condition of the machine. Manufacturers of route-based vibration analyzers also provide handheld devices that can be used by employees to monitor or check working conditions of small rotating machines.
- Route-based vibration analyzers collect data on a weekly, monthly, quarterly, or yearly basis according to the plant type and machine type. Collected vibration data from machines can be used for system repair and to schedule the maintenance process.
- Route-based vibration analyzers are used to avoid major industrial accidents and identify the issues before machine failure occurs
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Key Drivers of the Route-based Vibration Analyzers Market
- Increasing awareness about plant safety and periodic maintenance of machinery for better performance is expected to drive the route-based vibration analyzers market. These analyzers are used to identify rotating machine vibrations, speed of machine, and equipment misalignment for safety purposes. Increasing emphasis on monitoring and analyzing machine work conditions for better operations is expected to boost the demand for route-based vibration analyzers. The analyzers also enable technicians to easily access and monitor multiple plant equipment, which in turn is estimated to supplement the demand for route-based vibration analyzers during the forecast period.
- Rising demand for machine diagnostic and machine performance data for analyzing and monitoring machine work conditions is expected to offer significant opportunities to manufacturers of route-based vibration analyzers.
Inability to recognize “failed bearing” in the event of high pressure and speed, and lack of skilled workforce to hinder the market
- Sometimes route-based vibration analyzers fail to identify machine failures in the course of high pressure and speed of the rotating machine which causes financial loss to the plants or companies
- The lack of system knowledge and skilled workforce to operate and use the route-based vibration analyzer is also one of the major restraints of the market. The sensors collect and maintain a huge data base of machine performance but the data is not being used efficiently in system maintenance in plants which impacts the performance of the route-based vibration analyzer system.
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North America to hold major share of the global route-based vibration analyzers market
- North America is expected to hold a prominent share of the route-based vibration analyzers market due to the presence of key manufacturers and major industrial safety solution providers of route-based vibration analyzers in the region
- Adoption rate of route-based vibration analyzers by manufacturing, power & energy, and construction companies in North America is higher as compared to other regions. This is due to high adoption of advance industrial solutions to protect and improve the performance of equipment, which in turn is estimated to boost the demand for route-based vibration analyzers during the forecast period.
- The route-based vibration analyzers market in Asia Pacific is projected to expand at a prominent CAGR during the forecast period, mainly due to increasing demand for advanced portable and fixed vibration analyzing tools in construction and manufacturing sectors for employee safety and to provide regular data of machine condition monitoring.
- Several key players are expected to increase their investment in route-based vibration analyzers to differentiate their offerings and thus consolidate their position in the market
Key players operating in the global route-based vibration analyzers market
- Emerson Electric Co.
Emerson Electric Co. is a global manufacturer and service provider of industrial solutions and commercial solutions. The company offers a wide range of industrial products such as measurement instrumentation, control & safety systems, electric component & lighting, and asset management solutions. The company provides solutions and services to automotive, chemical, oil & gas, power generation, and marine sectors. The company offers compressors and sensing & protecting devices for industrial plant safety.
- Fluke Corporation
Fluke Corporation is a global provider of troubleshooting and testing industrial solutions for various industries. The company offers services in industrial electronic installation, precision measurement, and quality control solutions. It offers a wide range of products in building infrastructure solutions, calibration tools, condition monitoring solutions, industrial imaging etc.
Other key players operating in the global route-based vibration analyzers market include General Electric Company, GTI Predictive Technology, Inc., Predictive Maintenance Diagnostics, Crystal Instruments Corporation, and Erbessd Instruments LLC.
Global Route-based Vibration Analyzers Market: Research Scope
Global Route-based Vibration Analyzers Market, by Device Type
- Portable Device
- Fixed Devices
Global Route-based Vibration Analyzers Market, by Application
- Predictive Maintenance
- Condition Monitoring
- Data Reporting and Analysis
Global Route-based Vibration Analyzers Market, by Industry
- Metals & Mining
- Oil & Gas
- Aerospace & Defense
- Power Generation
- Food & Beverages
- Others (Healthcare and Semiconductor & Electronics)
Global Route-based Vibration Analyzers Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.