The data logger market is expected to grow by USD 1.82 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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Technavio has announced the latest market research report titled Global Data Logger Market 2020-2024 (Graphic: Business Wire)
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The growing adoption of automation technologies across industries has increased the demand for data loggers to test, measure, and control various functions. For example, cold storage warehouses need to be maintained at specific temperatures. To achieve this, data loggers are integrated with automated systems that control the level of cooling to maintain a specific temperature. Also, data loggers enable end-users to club several discrete instruments into one system, thereby reducing the cost of modular instruments. This has further increased the adoption of data loggers among end-users, which is contributing to the growth of the global data loggers market.
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As per Technavio, the increasing demand for data loggers with displays will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Data Logger Market: Increasing Demand for Data Loggers with Displays
Stand-alone data loggers with displays are gaining popularity among end-users as they can visually communicate the recorded data without the need of a computer or a mobile system. To capitalize on this trend, vendors are introducing data loggers with liquid crystal displays (LCDs) and passive matrix organic light-emitting diode (PMOLED) displays. The introduction of such products is helping vendors to gain a higher market share as well as to differentiate their products from competitors. This trend is expected to have a positive impact on the growth of the global data loggers market during the forecast period.
“Increasing demand for customized automation solutions and the proliferation of micro-servers will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Data Logger Market: Segmentation Analysis
This market research report segments the data logger market by type (stand-alone systems and automated systems/modules) measurement (pressure, power, temperature, humidity, multi-sensor, and others), and geography (APAC, North America, Europe, MEA, and South America).
The APAC region led the data logger market in 2019, followed by North America, Europe, MEA, and South America respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the increasing adoption of automation across industries in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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