Vibration Sensor Market Driven By IIoT
By Mat Dirjish
According to Transparency Market Research, the fourth industrial revolution, a.k.a., Industry 4.0 and/or Industrial Internet of Things (IIoT), is a prime factor speeding growth of the global vibration-sensor market. As per the company’s recent report, the vibration-sensor market is set to score $4.5 billion for a sustained 5% CAGR from 2019 to 2027. That’s just short of doubling 2018’s figure of $2.8 billion.
The report also finds:
- IIoT plays a major role in mass acceptance of vibration sensors.
- Accelerometers are the highest grossing sensors during the forecast period.
- Automotive industry will be the largest consumer of vibration sensors.
- Predictive monitoring is a major driver of the global market.
- Cost-effective manufacturing makes vibration sensors attractive to industry.
- A handful of prominent players control the market, which may pose a challenge for new players.
- Asia Pacific will remain a dominant region in the global market.
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