The growth of the IoT and industrial applications is driving the growth of many types of sensors, and vibration sensors are no exception. According to a report by the firm Transparency Market Research on the vibration sensor market, revenue from the sales of sensors that measure acceleration, velocity, and other related parameters is expected to reach $4.5 billion by the end of 2027, up from $2.8 billion in 2017.
According to the report, the IoT has proliferated the use of vibration sensors in the industrial sector. With growing Internet penetration, machines, factories, and infrastructural setup are now being upgraded with IoT. Equipment sensors are providing real-time data to provide reports on a machine’s cycle time, downtime, number of parts produced, and more.
The report also noted that the growing integration of wireless sensor network technology has augmented growth in the global vibration sensor market. These networks are able to transmit predictive data that helps users track potential problems and resolve them early. The report noted that tech giants such as IBM, Capgemini, and others have integrated these wireless networks.
Newer technologies such as MEMS are finding their way into accelerometers and other vibration sensors, the report noted. MEMS accelerometers are available at competitive prices, and are being widely utilized by a large number of manufacturers and industry players. The prices of MEMS accelerometers compare favorably with piezoelectric accelerometers and piezoresistive accelerometers, and these are expected to fall further in the coming years. The report project sales of MEMS accelerometers to reach 14.5 million units by the end of 2027.
The report added that the vibration sensor market is moderately fragmented, with leading players such as including TE Connectivity Ltd., Honeywell International, Inc., Analog Devices, Inc., and Robert Bosch GmbH accounting for roughly a third of global sales. Competition is expected to increase in the coming years, as manufacturers are highly engaged in R&D activities. Leading companies are also making huge investments in acquiring technologically-advanced enterprises, as this plays a crucial role while developing vibration sensors.