The GMI Research forecasts that the Vibration Monitoring Market is witnessing an upsurge in demand over the forecast period. This is mainly due to capability to identify developing problems before they become too serious and cause unscheduled downtime.
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Several major factors driving the growth of the global vibration monitoring market are the introduction of cloud computing platforms for condition supervision and the surge of big data analytics and machine learning along with their enormous advantages such as less production & maintenance costs, optimized unplanned outages, and downtime with maintenance and decreased workforce size. In addition, demand to curb the operational cost in plants, accelerating penetration of smart factory, implementation of wireless system to supervise machine condition, growing adoption of automation condition monitoring technologies, and rapid rise in investments by the companies and government in industries like metals, pulp& paper will strengthen the market size. On the other side, insufficient trained technical persons for data analysis and extra installation costs will hinder the vibration monitoring market share.
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