Data Loggers Market To Reach USD 2745 Million By 2028 At a CAGR of 9.36% | Valuates Reports
BANGALORE, India, Jan. 9, 2023 /PRNewswire/ -- Data Loggers Market is segmented by Type (Mechanical Data Loggers, Electronic Data Loggers, Wireless Data Loggers), By Application (Oil & Gas, Transportation, Environment, Others): Opportunity Analysis and Industry Forecast, 2021–2028.
The global Data Loggers market was valued at USD 1430 Million million in 2021 and it is expected to reach USD 2745 million by the end of 2028, growing at a CAGR of 9.36% during 2021-2028.
Major factors driving the growth of the Data Loggers Market
The Data Loggers market must experience a major uptick as a result of the industry's increasing demand for measurement and control activities. The market acceptance has been further driven by the expanding requirement for the regulated process to increase equipment life and efficiency.
Global demand for automated devices, modules, or systems is rising, and these items are equipped with a range of sensors that collect and transmit data. In the future, it is anticipated that factors such as increasing use of data loggers for monitoring various parameters, technological advancements in the automotive industry, rising investments in research and development activities to develop novel solutions, the presence of well-established companies worldwide focusing on the introduction of novel solutions, the advent of contemporary technologies like 5G, as well as rapid urbanization, will propel Data Loggers market growth.
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TRENDS INFLUENCING THE GROWTH OF THE DATA LOGGERS MARKET
Oil and gas industrial data recorders for uses such as the recovery and processing of oil and natural gas, the monitoring of steam well temperature and pressure, the production and conversion of biogas, water pressure, pumping efficiency, and other aspects. These tough industrial data loggers have a strong alarm and programming features that let them process measurements and start processes on their own. Thus, the increasing use in oil and gas applications is expected to drive the growth of the Data Loggers market.
Transport data recorders are employed to track the delivery of numerous sensitive product kinds. They capture various characteristics, such as temperature, humidity, shock, vibration, or tilt, depending on the model. If any of these characteristics have changed while in transit, the majority of models give a clear visual indicator right away. The usage of data loggers enables logistics chain control, as well as identifying any issues that may have arisen during product transportation or in the event of adverse weather. Additionally, these tools are utilized to alert recipients of shipments to potential material damage, enabling prompt inspection of the package and early detection of the issue. This will further amplify the Data Loggers market.
The growing use of data loggers in environment applications is expected to drive the growth of the data logger market. Data loggers can be used in environmental monitoring applications to adjust sample rates, collect data from sensors and sondes, and transfer data in real time to a centralized location. Real-time water and weather data, as well as remote access via a cellular modem, radio transmission, or satellite modem, can all be obtained via data recorders with telemetry technology.
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DATA LOGGERS MARKET SHARE ANALYSIS
Key manufacturers in the US market include Onset HOBO, Testo, and National Instruments Corporation, among others. The top three earn 14% of the total revenue.
Due to the massive adoption rates of industrial robots and the growing popularity of the logistics sector in the United States, North America dominates the global market for data loggers.
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Key Companies:
- National Instruments Corporation
- Onset HOBO
- Testo
- Omega Engineering Inc
- Rotronic
- Ammonit Measurement GMBH
- ELPRO-BUCHS AG
- Omron
- VAISALA
- Dickson
- Hioki
- Sensitech
- FLUKE
- Delta-T Devices
- Dwyer Instruments
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