The future is condition monitoring

It’s been a big month here at Hansford Sensors. We kicked off November by celebrating our 10^thanniversary, during which time we were playfully predicting what our company may look like in another decade. While our thoughts on this are strictly hypothetical at this stage, thanks to the release of a new report we now have a better idea of the state of the condition monitoring market.

According to Markets & Markets, the condition monitoring market is expected to be valued at $3.07 billion by 2022, growing at a CAGR of 7.0% between 2016 and 2022. The report goes on to say how vibration monitoring is expected “To hold the largest size of the overall machine condition monitoring market during the forecast period”.

We’ve seen the use of vibration monitoring increase significantly over the past few years, so we’re not exactly surprised at these new predictions. Although, for the record, we are very excited for the future. We can’t wait to see the new developments in condition monitoring and witness more and more firms and applications experience the huge benefits of implementing vibration monitoring.

However, while we welcome this great news and the increasing uptake of vibration monitoring, getting it right requires careful thought and planning by maintenance teams.

As demand for vibration monitoring equipment grows, we can expect to see the market become saturated with different products. On the surface this may seem positive, since maintenance engineers will have greater choice of products, but it also makes specifying the right equipment more difficult*.

Additionally, maintenance engineers will require effective training in vibration sensor installation, data gathering and data analysis. Failing to achieve this could make vibration monitoring redundant. Fortunately, good training is easily achievable.

So, going back to our predictions of where Hansford Sensors will be in 10 years time. Well, while our objective is to be in an even more advanced position technologically speaking, we’re pleased to say our function won’t change; we’ll still be blazing a trail for vibration monitoring and helping maintenance teams worldwide to maximise the performance of their machines.

*To overcome the challenge of specification, read our advice on selecting the right vibration monitoring equipment here.